Chevron and Eni, two big oil companies from the U.S. and Italy, have agreed to expand their oil projects in Venezuela. The agreement was signed in Caracas with Venezuela’s interim President Delcy Rodriguez and U.S. Energy Secretary Chris Wright present.
Key Facts
Chevron (a U.S. company) and Eni (an Italian company) are increasing oil production projects in Venezuela.
The signing ceremony took place in Caracas, Venezuela’s capital.
Interim President Delcy Rodriguez of Venezuela and U.S. Energy Secretary Chris Wright attended the event.
The aim is to boost Venezuela’s oil output.
This expansion comes while the U.S. government closely watches these developments.
Venezuela is a country rich in oil reserves but has faced economic and political challenges.
Previously, Chinese and Russian companies operated some Venezuelan oilfields.
This deal is part of ongoing energy and economic cooperation between Venezuela and foreign companies.
Read the Original
Want the full story? Tap a source to open the original
article.
The U.S. Mint has released $1 coins featuring President Donald Trump's face to mark the 250th anniversary of the Declaration of Independence. These coins, which have a gold-colored finish, are legal money and can be bought online or found in circulation.
Key Facts
$1 coins with President Trump’s portrait entered circulation starting September 2, 2026.
The coins commemorate the 250th anniversary of the Declaration of Independence with inscriptions showing "1776 ~ 2026," "LIBERTY," and "IN GOD WE TRUST."
The coins are made from manganese brass, not real gold, and were made at the Philadelphia Mint.
Rolls of 25 coins cost $61, and bags of 100 coins cost $154.50 on the U.S. Mint’s website.
About 250,000 coins with special July 4th markings were randomly included in coin rolls and bags.
Usually, living presidents do not appear on U.S. currency, but a 2020 law allowed this exception for commemorative coins like these.
The last time a living president appeared on U.S. coins was 100 years ago on a half-dollar featuring Calvin Coolidge.
Some officials questioned the legality of the coin’s design because it was not reviewed by the usual advisory committee, but the Treasury said the process was properly followed.
Read the Original
Want the full story? Tap a source to open the original
article.
The Pittsfield Building, a historic 38-story skyscraper in Chicago completed in 1927, is being transformed from mostly office space into over 200 apartments, including affordable housing. The project includes one of the largest restorations of a terra cotta façade in the United States and aims to preserve many of the building’s historic features.
Key Facts
The Pittsfield Building is a 38-story Gothic Revival skyscraper completed in 1927 in downtown Chicago.
Originally designed as office space, it housed many doctors' and dentists' offices.
The building is being converted into a mixed-use residential complex with 214 new apartments added to 228 existing units.
Restoration work focuses on the building’s exterior, especially the terra cotta façade, polished black granite at street level, and Gothic architectural details.
The project is considered one of the largest historic terra cotta façade restorations in the U.S.
The building is a City of Chicago Landmark and part of a downtown historic district, with efforts to obtain National Historic Landmark status.
Interior historic features like hand-painted ceilings, cast-bronze elevator doors, and marble finishes will be preserved and restored.
The restoration uses modern digital technology to help maintain the craftsmanship and design quality of the original 1920s construction.
Read the Original
Want the full story? Tap a source to open the original
article.
A judge in Virginia ruled that Google does not have to sell its online advertising exchange, called AdX, despite the US Justice Department's efforts. The judge recognized Google’s past illegal monopoly behavior but decided that forcing a sale would be too difficult and that other solutions could address the issue.
Key Facts
The US Justice Department sued Google in 2023 for monopoly practices in online advertising technology.
Judge Leonie Brinkema ruled Google has illegal monopolies in parts of its ad business but refused to force Google to sell AdX.
AdX is a platform where website owners sell ads and Google takes a 20% fee from these sales.
Google argued that selling AdX would be technically hard and harm customers due to a difficult transition.
The judge accepted alternative behavioral remedies instead of breaking up Google’s business.
Ad Manager, part of Google’s ad tech business, made up 4.1% of Google’s revenue in 2020.
This ruling is the third time a US judge has rejected attempts to break up big tech companies in recent antitrust cases.
Similar cases against other big tech firms like Meta, Amazon, and Apple are ongoing or delayed.
Read the Original
Want the full story? Tap a source to open the original
article.
Interest rates on government bonds are rising worldwide, making borrowing more costly for people and businesses. This increase affects loans like mortgages and car payments, as well as savings and retirement plans. Factors such as inflation concerns, government deficits, and market reactions influence bond yields.
Key Facts
Bond yields represent the return investors earn on government debt and influence loan rates.
The 10-year U.S. Treasury yield recently hit 4.80%, the highest in four years, affecting mortgage rates.
The 5-year Treasury yield, linked to auto loans, reached 4.55%, also a four-year high.
Inflation worries and higher U.S. government borrowing after the pandemic are pushing yields up.
Large technology companies borrowing to build AI-related infrastructure add to demand for loans.
Federal Reserve Chair Kevin Warsh suggested more interest rate increases could come to control inflation.
U.S. Treasury Secretary Scott Bessent took steps to slow rising yields and said the situation is not dire.
When bond prices drop, yields rise because new buyers get better returns on older bonds.
Read the Original
Want the full story? Tap a source to open the original
article.
The UK is facing higher borrowing costs due to global events like the Iran war and currency problems. Investors are worried because the UK government, led by Andy Burnham and Chancellor John Healey, has not yet convinced them that it will manage the country’s finances well, especially with high energy import needs and inflation concerns.
Key Facts
UK 30-year government borrowing costs reached their highest level since 1998.
Global issues such as the Iran war and a weak Japanese yen contributed to higher interest rates worldwide.
The UK has the highest borrowing costs among the G7 nations due to inflation and energy import dependence.
Andy Burnham and John Healey have not given bond investors strong reasons to believe UK finances will improve soon.
Burnham focuses on more public control of utilities, but it is unclear if this will reduce costs or inflation.
Experts say the government may need to make tough choices on pensions and welfare to lower borrowing costs.
The upcoming budget is expected to be a crucial moment for addressing the UK’s economic challenges.
There is concern that delaying difficult decisions could worsen the financial situation, especially if energy market problems continue.
Read the Original
Want the full story? Tap a source to open the original
article.
The cost for employers to provide health benefits to workers is expected to rise by 8.2% in 2027, the largest increase in over 20 years. This prediction comes from a recent report by the financial consulting company Mercer.
Key Facts
Employer health benefit costs will increase by 8.2% in 2027.
This is the highest rise in the past 20 years.
Mercer is the company that made this projection.
The increase is linked to ongoing factors that drive up healthcare expenses.
Rising health costs affect budgets for businesses providing employee benefits.
Read the Original
Want the full story? Tap a source to open the original
article.
New Jersey has asked the U.S. Supreme Court to decide who should regulate prediction markets, which are platforms where people can bet on outcomes of events. This legal issue has seen different decisions from lower courts, and now it will be reviewed by the highest court.
Key Facts
New Jersey filed a request for the Supreme Court to review a legal dispute involving prediction markets.
Prediction markets allow users to place bets on the outcomes of various events.
There is disagreement about whether states or the federal government have the power to regulate these markets.
Lower appellate courts have issued conflicting rulings on this issue.
This case is the first time the Supreme Court will consider this regulatory conflict.
The outcome will affect how prediction markets operate across the United States.
Read the Original
Want the full story? Tap a source to open the original
article.
Treasury Secretary Scott Bessent said China did not agree that its cheap exports are causing problems for other countries during the Group of 20 (G20) meeting. He highlighted that China is not willing to work on fixing trade issues related to low-priced exports.
Key Facts
Treasury Secretary Scott Bessent spoke at the G20 conference in Asheville, North Carolina.
Bessent criticized China for not recognizing that cheap exports can hurt other economies.
China did not agree to address the trade problems caused by selling goods at very low prices.
The G20 includes 20 major economies that meet to discuss global economic issues.
Bessent’s comments suggest challenges in reaching agreements on fair trade practices.
The topic focuses on international trade and economic policies among large countries.
Read the Original
Want the full story? Tap a source to open the original
article.
Chevron will spend more than $7 billion over the next five years to double its oil production in Venezuela to around 600,000 barrels per day. The company received new areas to develop in the Orinoco Belt and expects to benefit from improved contract terms and existing infrastructure.
Key Facts
Chevron plans to invest over $7 billion in Venezuela’s oil projects to increase production to 600,000 barrels per day.
The company was assigned additional land in the Orinoco Belt, expanding its Petroindependencia joint venture.
Venezuela has the world’s largest oil reserves but oil output has dropped from over 3 million barrels per day to about 1.25 million.
Chevron’s costs are expected to be less than $20 per barrel, aided by existing infrastructure like roads and pipelines.
Other companies like ENI, KEO Capital, and Primavera are also preparing to sign energy contracts in Venezuela.
The expansion supports U.S. efforts under President Donald Trump to increase Venezuela’s oil output and investment.
Venezuela’s oil output is expected to reach 2 million barrels per day by the end of this decade, according to the U.S. Energy Secretary.
Chevron has operated in Venezuela continuously since 1923, with three joint ventures in the country.
Read the Original
Want the full story? Tap a source to open the original
article.
Uber has cut 3,300 jobs, about 10% of its staff, the largest reduction since the COVID-19 pandemic started. The company says this restructuring will help it work faster and focus more on its drivers, delivery workers, and business partners while preparing for self-driving car technology.
Key Facts
Uber laid off 3,300 employees, or 10% of its workforce.
CEO Dara Khosrowshahi said the cuts aim to simplify management and make decisions faster.
The number of "micro-teams" with very few employees will be cut by half.
Uber is pushing for most employees to return to the office, allowing only about 1% to work remotely.
In recent months, Uber also cut 10% of its customer service jobs due to AI adoption.
Uber plans to invest $10 billion to grow its robotaxi (self-driving taxi) business.
Revenue grew 18% from 2024 to 2025, reaching $52 billion, with a 12% increase in the second quarter of 2026.
Despite revenue growth, Uber's stock has fallen 8% this year but rose slightly after the layoff announcement.
Read the Original
Want the full story? Tap a source to open the original
article.
Uber is cutting more than 3,000 jobs worldwide, reducing its workforce by about 10% to levels seen in 2021. The company aims to simplify its organization, speed up decision-making, and focus spending on core businesses like ride-hailing, delivery, and autonomous vehicles.
Key Facts
Uber will reduce its global workforce by over 3,000 employees, around 10% of total staff.
The job cuts will affect both managers and non-managers.
Uber plans to combine many small teams into larger groups to improve efficiency.
The company wants to simplify its structure and speed up decisions.
Uber is focusing on areas like autonomous vehicle partnerships, ride-hailing, delivery, and robotaxis.
The workforce will be about 30,000 people after the cuts, similar to 2021 numbers.
Almost all employees are now required to work in person at designated offices, with only about 1% allowed to work remotely.
The layoffs could save Uber up to $2 billion annually.
Read the Original
Want the full story? Tap a source to open the original
article.
A $150,000 home equity loan in September 2026 has monthly payments of about $1,831 for 10 years or $1,446 for 15 years at an 8.14% interest rate. Interest rates on these loans are lower than personal loans or credit cards, but borrowers should be aware that their home is used as collateral and the loan carries the risk of foreclosure if payments are missed.
Key Facts
The average interest rate for home equity loans is 8.14% as of September 2, 2026.
For a $150,000 loan, monthly payments are approximately $1,831 for a 10-year loan and $1,446 for a 15-year loan.
Payments are slightly lower now than in the previous year and after Federal Reserve rate cuts in 2025.
Home equity loans have fixed interest rates, which helps borrowers plan their monthly budgets.
Borrowing with home equity involves using the home as security, risking foreclosure if payments are not made.
The Federal Reserve may raise interest rates soon, which could increase loan costs.
Homeowners are advised to compare offers from different lenders before choosing a home equity loan.
Home equity loans generally have lower interest rates than personal loans and credit cards.
Read the Original
Want the full story? Tap a source to open the original
article.
A $100,000 annuity can provide retirees with a steady monthly income, but the exact amount depends on factors like the retiree’s age and the type of annuity chosen. Generally, older retirees receive higher monthly payments because insurers expect to pay for fewer years.
Key Facts
A $100,000 single-life immediate annuity pays more monthly income as the buyer’s age increases.
For example, at age 60, a man might get about $530 per month, and at age 80, about $1,150.
Women receive slightly less than men at the same age because they tend to live longer.
Joint-life annuities for couples pay less monthly, around $536 for a 65-year-old couple, because payments continue until both pass away.
Some annuities add guarantees, like payments for a minimum number of years, which can affect monthly amounts.
Annuities provide a guaranteed income stream and can be part of overall retirement income alongside Social Security and savings.
Choosing the right annuity depends on individual needs, including considerations like spouse protection and payment guarantees.
Read the Original
Want the full story? Tap a source to open the original
article.
Norbert J. Michel says that problems in the American economy come from government spending and interference. He argues that the free-market system is not to blame for these economic difficulties.
Key Facts
American economic struggles are significant today.
Some people blame free-market capitalism for these problems.
Norbert J. Michel disagrees with this view.
He says government spending affects the economy negatively.
Government intervention also harms economic performance.
The article focuses on the causes of economic challenges in the U.S.
Read the Original
Want the full story? Tap a source to open the original
article.
A federal judge decided that Google does not need to break up its advertising technology business. The judge denied the U.S. Department of Justice’s request to force Google to sell part of its ad exchange business after a previous ruling said Google had an illegal monopoly.
Key Facts
A federal judge named Leonie Brinkema made the ruling on Wednesday.
The judge rejected the DOJ’s request to break up Google’s ad tech business.
The DOJ had accused Google of having an illegal monopoly in advertising technology.
The specific business involved is Google’s AdX exchange.
The judge ruled despite earlier findings that Google controlled the ad tech market unfairly.
The decision means Google can keep its advertising technology intact for now.
The case is part of a larger government effort to regulate big tech companies.
The ruling focuses on competition laws in the advertising technology industry.
Read the Original
Want the full story? Tap a source to open the original
article.
The U.S. Mint released a new $1 coin featuring President Donald Trump as part of the country's 250th anniversary celebration. The coin is legal money but is sold as a collectible at prices higher than its $1 face value.
Key Facts
The coin shows President Donald Trump's portrait on one side.
It is part of the U.S. semiquincentennial (250th anniversary) celebrations.
The coin is legal tender but sold mostly to collectors, not for spending.
The U.S. Mint website had high traffic and put visitors on a waiting list with about a 20-minute delay.
Prices for the coins are $61 for a roll of 25 coins or $154.50 for a bag of 100 coins.
The coin has a gold-colored finish but is made from non-precious metals.
Collectors pay more than face value because of production costs and collectible demand.
The coins come in special packaging aimed at coin collectors (numismatists).
Read the Original
Want the full story? Tap a source to open the original
article.
Uber drivers from several European countries have started a large legal case against Uber. They say Uber’s AI system sets their pay and jobs unfairly and breaks data protection laws by using their personal information without clear rules.
Key Facts
Drivers in the UK, Netherlands, and other countries joined the legal claim against Uber.
The lawsuit is filed at Amsterdam’s district court, where Uber’s European headquarters is located.
The case challenges Uber’s AI algorithm that decides pay rates and who gets which ride jobs.
Drivers say the algorithm offers different pay to different drivers for the same job and lowers fares based on what it thinks drivers will accept.
The claim argues Uber breaks Europe’s data protection law (GDPR) by using driver data without proper consent.
The Dutch data protection authority fined Uber €825 million for related automated account deactivations. Uber plans to appeal.
Drivers say the AI system has lowered their annual earnings by about £5,000 since 2023 in the UK.
Uber’s CEO has described the system as targeting different trips to drivers based on preferences or behavior.
Read the Original
Want the full story? Tap a source to open the original
article.
