The John Lewis Partnership, which owns John Lewis and Waitrose, reported larger losses of £124 million in the first half of the year due to rising costs and lower shopper confidence. While Waitrose sales increased, John Lewis department store sales fell, and the company has closed several stores and cut jobs as part of a turnaround plan.
Key Facts
John Lewis Partnership’s pre-tax loss rose from £88 million to £124 million for the six months ending August 1, 2026.
The company runs 36 John Lewis stores and over 300 Waitrose supermarkets.
Rising costs included higher national insurance payments and expenses related to managing heatwaves.
Waitrose sales increased by 4%, but John Lewis store sales fell by 2%.
The company closed 16 John Lewis stores and 20 Waitrose outlets and cut thousands of jobs.
Staff received a 2% bonus earlier in the year, the first in four years.
Heatwaves and the cost of living impacted shoppers, reducing sales of big items like sofas and beds.
John Lewis expects better sales in the second half of the year, especially during the Christmas season.
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Families in the UK who use heating oil to warm their homes face rising costs as prices have nearly doubled over the past year due to conflict between the US and Iran. Many are unsure whether to buy oil now or wait, risking higher prices, and some plan to reduce heating use to save money this winter.
Key Facts
Heating oil prices in the UK have risen sharply, almost doubling in one year.
The price increase is linked to conflict between the US and Iran.
About 1.5 million UK households, mostly in rural areas, depend on heating oil.
Heating oil users do not benefit from the government’s energy price cap.
Customers must pay a large upfront cost as their tanks hold between 1,000 and 2,000 liters.
The average price for heating oil on 9 September 2026 was 97.05p per liter, up 85% from the previous year.
The government provided £53 million in support for low-income families using heating oil, but eligibility rules vary and some people do not qualify.
Charities are urging the government for more help and to include heating oil under the energy price cap.
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The UK government plans to allow local leaders in England to charge a tourist tax on overnight stays in hotels and other accommodations. The tax would be a percentage of the accommodation cost, with local leaders deciding how to use the money collected.
Key Facts
Mayors in England will be able to introduce a tourist tax on people staying overnight.
The tax will be charged as a percentage of the accommodation cost, not a flat fee.
The government believes this method protects budget travelers from high fees.
Local leaders will decide how to spend the money raised from the tax.
Similar tourist taxes already exist in Scotland, where Edinburgh charges 5% on overnight stays.
Manchester introduced a £1 per night fee in 2023 to attract more visitors.
The government plans to give local leaders power to manage the tax as part of a broad plan for local control.
Wales will introduce a capped visitor tax of £1.30 per person per night in April next year.
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The leader of Britain's trade unions has asked Prime Minister Andy Burnham to create a discount on energy bills for low and middle-income households. He suggests paying for this by increasing a special tax on banks, which was lowered in 2023, to raise money for these discounts.
Key Facts
The trade union leader wants a "social tariff," a discount on energy bills based on household income.
The tariff could help about two-thirds of households in the UK.
The proposed bank surcharge tax was cut from 8% to 3% in 2023 and could be restored to raise £9 billion over four years.
Burnham has already proposed temporarily removing VAT on electricity bills to reduce costs.
Some political parties also support taxing banks on their extra profits (windfall tax).
UK Finance, representing banks, warns higher taxes may harm growth and jobs in the UK financial sector.
The trade union leader believes banks will not leave the UK because of a restored surcharge.
Additional tax ideas include taxing social media companies and changing capital gains tax to match income tax rates.
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Fashion designer Romeo Hunte talks about his new clothing collection as New York Fashion Week starts. He shares his ideas and creative approach during the event.
Key Facts
Romeo Hunte is a fashion designer.
He has created a new clothing collection.
New York Fashion Week has just begun.
Hunte discussed his collection on CBS News' "The Daily Report."
The event is a major fashion industry showcase.
Hunte explained his creative vision behind his designs.
CBS News covered the story and interviewed Hunte.
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Several top business leaders share advice on how to succeed at work. They say attitude, curiosity, communication, and being open to new challenges matter more than perfect skills or resumes.
Key Facts
Charlotte Tilbury says not letting others limit you and seeing setbacks as opportunities helped her succeed.
Charlie Bowes-Lyon values attitude more than skills and recommends asking questions in job interviews.
Marcia Kilgore looks for curiosity, willingness to ask questions, and good communication when hiring.
Anabel Kindersley advises saying yes to new opportunities to build skills and values honesty and emotional intelligence.
Charlie Nunn highlights curiosity, resilience, teamwork, and openness to AI tools as important employee qualities.
Several leaders emphasize learning from challenges and stepping outside your comfort zone to advance.
Communication and teamwork are key skills across many types of jobs.
Asking what success looks like in a job is a helpful interview question.
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A childcare policy in the UK gives families with both parents earning under £100,000 access to 30 hours a week of free childcare. However, if one parent earns just over £100,000, they lose this benefit completely, causing some families to reduce work hours to keep the subsidy. Experts warn this "cliff edge" discourages work for some parents and suggest gradual reductions in benefits instead of a sudden cutoff.
Key Facts
Families where both parents earn less than £100,000 a year can get 30 hours of free childcare weekly.
If one parent earns just over £100,000, they lose the free childcare entirely.
By 2030, parents may have to earn up to £124,000 to avoid financial loss from losing the childcare benefit.
Around 1,000 families may currently reduce their earnings to stay under the threshold; this could rise to 12,000 by 2030.
More mothers are out of work when their partner’s income reaches over £100,000, likely due to losing childcare help.
Some families claim the benefit based on expected income but end up earning more than £100,000.
Suggested solutions include cutting childcare hours instead of removing it completely or gradually reducing benefits as income rises.
UK Chancellor John Healey is expected to address this in his upcoming budget scheduled for 28 October.
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President Donald Trump responded to Canada’s new tariffs on U.S. goods by banning some Canadian products from entering the U.S. These products include certain motorcycles, dairy foods, and alcoholic drinks.
Key Facts
Canada recently started new tariffs, which are taxes on imports, targeting U.S. goods.
In reaction, the U.S. banned imports of some Canadian motorcycles.
The ban also includes certain dairy products from Canada.
Alcoholic beverages from Canada are part of the banned imports.
This move increases trade tensions between the U.S. and Canada.
Tariffs and bans like these affect how goods are bought and sold between the two countries.
The Trump administration took this step to push back against Canada’s trade actions.
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The BBC is ending its broadcast of RuPaul's Drag Race UK after eight series due to financial pressures. Future episodes and spin-offs will move to Wow Presents Plus, a streaming service owned by the show's producer.
Key Facts
RuPaul's Drag Race UK has aired on the BBC for eight series since 2019.
The show is currently shown on BBC Three and their streaming service, iPlayer.
Due to financial challenges, the BBC will no longer air new Drag Race UK series.
New series and spin-offs will be available exclusively on Wow Presents Plus.
The BBC is planning to save £500 million and is making tough budget decisions.
The current series airing on BBC Three will finish on that channel and iPlayer.
Drag Race UK helped popularize British drag culture and made stars of queens like La Voix and Danny Beard.
The BBC has also dropped other LGBTQ+ shows this year because of funding issues.
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A $152.2 million settlement has begun paying consumers who bought packaged tuna products after major tuna companies were accused of illegally raising prices. Payments started on September 8 and vary widely depending on how much tuna a consumer bought during the case period.
Key Facts
The settlement involves StarKist, DWI, and Lion companies accused of fixing tuna prices in the U.S. from June 2011 to July 2015.
The total payout fund is $152.2 million, for those who bought canned or pouched tuna products during that time.
Payments started going out on September 8 through various methods like direct deposit, prepaid cards, or mailed checks.
Consumers received different amounts, some around $100 and others several thousand dollars.
Payment amounts depend on how much tuna individuals reported buying in their claims.
The deadline to file for the settlement was December 31, 2024.
People who filed claims in an earlier related lawsuit didn’t need to reapply to get paid this time.
The U.S. Supreme Court refused to review the case in November 2022, allowing the settlement to proceed.
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A 6-month certificate of deposit (CD) with $25,000 can earn around $495 to $520 in interest at current rates between 4.00% and 4.20%. Savers should compare offers from different banks, especially online ones, and consider waiting for possible rate increases before investing.
Key Facts
Current 6-month CD rates range from about 4.00% to 4.20%.
$25,000 invested in a 6-month CD at these rates earns roughly $495 to $520 in interest.
Last summer, top CD rates were around 4.45%, offering about $550 in interest.
CDs offer fixed interest rates, unlike savings or money market accounts where rates can change.
Many online banks offer higher CD rates compared to traditional banks with branches.
Early withdrawal from a CD may result in penalties that could reduce earnings.
The Federal Reserve may raise interest rates soon, possibly increasing CD rates after September 16.
Savers are advised to shop around and wait for potential rate hikes before investing.
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Hunter Biden’s meme coin, called $LAPTOP, rose quickly in value right after it launched but then lost most of its price within a few hours. It jumped from $37 to about $222 in the first hour, then fell to about $1.36 by mid-afternoon.
Key Facts
The meme coin is named $LAPTOP and is linked to Hunter Biden.
When it launched, the price skyrocketed from $37 to about $222 within one hour.
After peaking, the coin’s price dropped sharply to about $1.36 by 3 p.m. Eastern time.
The price data comes from Coinmarketcap.com, a website that tracks cryptocurrency prices.
The coin’s value fell by about 95% after its initial surge.
Meme coins are cryptocurrencies that often gain popularity quickly because of internet trends or jokes.
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Taking out an $80,000 home equity loan is an option for homeowners who need money and want relatively low fixed interest rates compared to personal loans or credit cards. Current monthly payments on such a loan range from about $771 to $977, depending on the repayment term chosen.
Key Facts
Home equity loans have a fixed interest rate around 8.14% as of September 2026.
Monthly payments for an $80,000 loan at 8.14% are approximately $976.55 for 10 years or $771.00 for 15 years.
Home equity loans generally offer lower rates than personal loans (about 12%) or credit cards (over 22%).
Failing to repay a home equity loan can lead to losing your home through foreclosure.
Interest rates and monthly payments have been fairly stable over the past year with small changes tied to Federal Reserve rate adjustments.
Home equity lines of credit (HELOCs) may have lower initial rates but variable rates mean costs can increase if central banks raise rates.
It is recommended to act soon to secure current rates, as they might rise in the near future.
Borrowers can refinance later if rates drop significantly to reduce their payments.
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The interest rate (yield) on the 10-year U.S. Treasury bond reached its highest level in three years. This rise followed the Treasury Department’s decision to allow the government to buy back three times more of its own debt.
Key Facts
The 10-year Treasury bond yield went above 4.83%, hitting a three-year high.
At one point, the yield rose to more than 4.85%.
The Treasury Department announced it will triple the amount of government debt it can repurchase.
A bond's yield is the return investors get when they buy government debt.
When the government buys back debt, it can affect bond prices and yields.
Higher yields often mean higher borrowing costs for the government.
This change reflects the government’s effort to manage its debt and influence the bond market.
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There are several ways to quickly earn about $100 in interest on savings by putting money into different types of accounts. Options include high-yield savings accounts and certificates of deposit (CDs), which offer different rates and time frames for earning interest.
Key Facts
Moving $5,000 into a high-yield savings account at 4.10% interest can earn about $101 in six months.
A 3-month CD with a 3.95% interest rate requires a $10,000 deposit to earn around $97 by December.
A 6-month CD at 4.20% interest with $5,000 deposited can earn about $104 with guaranteed returns.
High-yield savings accounts have variable interest rates that may rise if the Federal Reserve increases rates.
CDs have fixed interest rates, meaning the earnings are guaranteed for the term.
Traditional savings accounts with low rates (around 0.38%) offer much less interest than high-yield accounts or CDs.
Interest rates are currently elevated but may change depending on Federal Reserve actions.
Choosing the right savings account depends on how quickly and safely you want your money to grow.
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The U.S. Treasury will buy up to $6 billion in long-term government bonds to try to slow down rising bond yields and reduce borrowing costs. Higher yields increase borrowing expenses for people and businesses and can hurt stock prices.
Key Facts
The Treasury aims to buy up to $6 billion in long-term bonds to keep yields from rising too much.
Bond yields are the interest rates the government pays to borrow money; when yields go up, bond prices go down.
Rising U.S. government debt, which exceeded $40 trillion in August, is pushing bond yields higher.
The 10-year Treasury yield recently hit 4.85%, its highest since October 2023, affecting mortgage rates.
Experts say bond buybacks may not be enough to control rising yields effectively.
The government plans several more bond-buyback operations over the coming weeks.
Higher Treasury yields lead to higher borrowing costs for consumers and businesses and can also impact stock prices negatively.
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Two dog supplements are being recalled because they might be contaminated with salmonella bacteria. Salmonella can cause illness in both pets and people who handle the supplements.
Key Facts
Two dog supplements are being recalled.
The reason for the recall is possible contamination with salmonella.
Salmonella is a bacteria that can cause sickness.
Both dogs and humans can get ill from salmonella.
The recall is a safety measure to prevent illness.
Pet owners should stop using the supplements immediately.
Information about which brands or products is not provided in the article.
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Investors are considering whether to buy gold before or after the Federal Reserve's September meeting. The Fed’s decision on interest rates could cause gold prices to move up or down, influencing the best time to invest.
Key Facts
The Federal Reserve will meet on September 15 and 16 to discuss interest rates.
Most economists expect the Fed to keep rates steady at 3.50% to 3.75%.
The chance of a rate hike has increased to over 60%, due to strong economic data and inflation worries.
Higher interest rates can lower gold prices because gold does not pay interest.
If rates rise, other investments like Treasury bonds may become more attractive than gold.
Waiting to invest in gold can reduce uncertainty but might mean missing price rises before or after the Fed meeting.
Gold prices are also affected by geopolitical tensions and other economic concerns.
The decision to buy now or later depends on whether you want a short-term investment or a long-term safe asset.
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The U.S. Treasury Department will increase the maximum amount of government debt it can buy back from $2 billion to $6 billion per operation. This move aims to reduce rising bond yields, which affect borrowing costs for the government and the economy.
Key Facts
The Treasury is tripling its buyback limit to $6 billion per operation.
Previously, the buyback limit was set at $2 billion.
The buyback refers to the Treasury repurchasing government debt bonds from investors.
This action is intended to lower bond yields, which have been rising.
Lower bond yields generally mean cheaper borrowing costs for the government.
The updated buyback schedule was announced on a Wednesday.
The Treasury uses buybacks as a tool to help manage the national debt and influence interest rates.
Bond yields affect loans, mortgages, and overall economic conditions.
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Debt consolidation can help people manage multiple high-interest debts by combining them into one payment, often with lower interest. The chance to get a consolidation loan depends on your credit score, income, and debt levels, but different lenders and programs have different requirements.
Key Facts
Credit card interest rates average over 22%, making debts expensive to carry.
Debt consolidation means paying one monthly bill instead of many with high rates.
No one credit score works for all consolidation loans; lenders have different rules.
Traditional debt consolidation loans usually require a credit score in the mid-600s or higher.
Some lenders offer loans for scores in the 500s but with higher interest rates and fees.
A low credit score might mean a consolidation loan isn’t cheaper than current debts.
Debt consolidation programs often have lower credit score requirements and help those with credit problems.
These programs connect borrowers with lenders who provide loans to pay off credit cards through the program.
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