The Federal Trade Commission (FTC) proposed a rule requiring retailers to tell customers if they use personalized pricing, which sets prices based on someone’s personal data. The rule would also require companies to explain what data they use to decide these prices.
Key Facts
The FTC wants companies to be open when they charge different prices to different customers based on personal info.
Personalized pricing means prices change depending on things like where you live, your shopping history, or how long you keep items in your online cart.
The FTC found examples, like showing higher prices for baby items to new parents.
Right now, the FTC cannot fully ban personalized pricing but wants to make sure shoppers know when it is happening.
Companies that do personalized pricing must clearly say they are doing it and share what personal data they use.
If companies hide this practice, they could break the law against unfair or misleading business actions.
The FTC is asking the public for feedback on the proposal over the next 30 days.
FTC Chairman Andrew Ferguson emphasized that consumers expect listed prices to be the same for everyone.
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Many Federal Reserve officials believe they will need to raise short-term interest rates if inflation remains high, according to minutes from their July meeting. Although rates were kept steady then, uncertainty about inflation and global events like rising gas prices affect their decisions.
Key Facts
The Federal Reserve’s key short-term interest rate was about 3.6% at the July 28-29 meeting.
Officials voted 9-3 to keep the rate unchanged at that meeting.
Inflation showed signs of slowing but gas prices rose recently due to conflict in the Middle East.
Minutes indicate many officials think higher rates will be needed if inflation does not drop.
Only 12 of the 19 Federal Reserve policymakers vote on interest rate decisions.
New Fed Chair Kevin Warsh avoided giving clear hints about future rate changes at a July 29 news conference.
Warsh plans to reduce “forward guidance,” meaning less communication about future Fed actions.
Wall Street expects no rate changes in September but a possible increase in December, though this could change.
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The U.S. Treasury Department announced it will more than double its buyback of government bonds to help lower rising bond yields caused by factors like higher oil prices and concerns about debts. Rising bond yields make borrowing more expensive for governments, companies, and people, which can slow the economy and put pressure on the stock market.
Key Facts
The bond market showed alarm due to rising yields influenced by the war in Iran and growing government debts.
The U.S. 10-year Treasury yield recently rose above 4.70%, up from 3.97% before the Iran war.
The 30-year Treasury yield exceeded 5%, levels not seen since before the 2008 financial crisis.
Higher bond yields increase borrowing costs for households (e.g., mortgages) and businesses.
Mortgage rates have climbed, nearing their highest in a year.
More expensive borrowing can reduce investments, including those in technology like artificial intelligence.
Rising yields put downward pressure on stock markets by threatening company profits.
The Treasury Department’s increased bond buyback aims to lower yields and calm the markets, but some experts warn it might have unintended effects.
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Ice cream was once a rare and expensive treat, but inventions like mechanical refrigeration made it more affordable by the 1800s. The ice cream cone, invented by immigrants in the early 1900s, became popular at the 1904 St. Louis World’s Fair and helped ice cream vendors serve customers more easily.
Key Facts
In 1790, President George Washington spent $200 on ice cream, equivalent to over $7,000 today.
Penny licks were an early way to serve ice cream, but they were banned due to hygiene concerns.
Antonio Valvona, an Italian ice-cream maker, patented a metal mold in 1902 for making edible waffle cups.
Italo Marchiony, an ice cream vendor in New York, patented a similar ice cream cone device in 1903.
At the 1904 St. Louis World’s Fair, Ernest Hamwi, a Syrian immigrant, popularized the waffle cone by rolling his fried pastries into cones.
By 1910, the term “cone” replaced “cornucopia,” and Hamwi started the Missouri Cone Company.
Machines later improved cone production, and cake cones appeared in the 1940s alongside the rise of ice cream chains like Dairy Queen and Baskin-Robbins.
Americans today eat less ice cream per year than in 1984, dropping from 17.8 pounds to 12 pounds on average.
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At least five U.S. states have started using autonomous (self-driving) trucks on highways, but there is growing concern from labor groups and safety officials. Supporters say these trucks could reduce costs and help with driver shortages, while opponents worry about job losses and if the technology is safe enough.
Key Facts
Autonomous trucks are currently operating on roads in at least five states including Texas, Arizona, California, Colorado, and Florida.
Texas leads in deployments with companies like Aurora running commercial routes between major cities.
Labor unions, especially the Teamsters, strongly oppose autonomous trucks, citing threats to jobs and calling for more public input.
Safety concerns remain about how well self-driving trucks can handle real-world driving conditions.
Laws requiring a human driver in autonomous trucks have mostly failed in several states, despite some vetoed bills.
Florida allows fully self-driving vehicles on public roads without a human driver.
Autonomous trucking could significantly change the trucking industry, supply chains, and the job market.
The debate involves questions of highway safety, job security, and liability in accidents involving autonomous trucks.
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The US Treasury Department announced it will buy back more long-term government debt to lower borrowing costs after 30-year bond interest rates reached a 20-year high. This action reduced the borrowing rate slightly and aims to support the market amid concerns about inflation, oil prices, and large corporate borrowing.
Key Facts
The interest rate on 30-year US government bonds reached 5.34%, the highest in nearly 20 years.
High bond yields increase borrowing costs for the government, companies, and consumers (mortgages, car loans, credit cards).
The recent rise in yields is linked to higher oil prices due to the US-Iran conflict, inflation fears, and large tech company borrowing for AI development.
The Treasury will double its bond buybacks from $2 billion to $4 billion, running from September 9 to November 4.
After the Treasury's announcement, the 30-year borrowing rate fell to 5.18%.
Experts say the buybacks offer short-term relief but are unlikely to solve long-term borrowing challenges due to large government debt.
The average interest rate for 30-year fixed mortgages is currently 6.67%, lower than earlier in 2023.
The Federal Reserve recently kept interest rates steady but showed concern about inflation and discussed possible future rate increases.
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Canada and the United States are close to finalizing a new trade agreement, with leaders from both countries calling it a positive step. However, many details about the deal, including specific trade concessions and terms, have not yet been fully disclosed.
Key Facts
President Donald Trump and Canadian Prime Minister Mark Carney have praised ongoing trade negotiations.
The two countries have met multiple times recently to work on the deal.
Trump paused new tariffs planned on Canadian goods to give more time for the talks.
The deal is expected to remove some trade problems the U.S. had with Canada.
Canada aims to keep its dairy supply management system unchanged, despite U.S. requests for access.
The U.S. wants Canada to drop retaliation tariffs on American cars and reopen markets for American alcohol.
Many Canadians prefer Canada to maintain a hard stance in the negotiations.
Business groups in both countries want a deal to avoid harmful tariffs that could affect trade.
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A new report shows that the prices of used cars that are three years old may rise above $32,000. Experts say that the prices are going up significantly.
Key Facts
Used cars that are about three years old could cost more than $32,000 soon.
A report highlights a sharp increase in used car prices.
Ivan Drury, director of insights at Edmunds, discussed why prices are rising.
The used car market is experiencing strong price growth.
Rising used car prices may affect buyers looking for cars that are a few years old.
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President Donald Trump announced that the United States has reached a trade deal with Canada that removes tariffs on US farmers and businesses exporting to Canada. He paused planned 50 percent tariffs on Canadian goods for three days while finalizing the agreement.
Key Facts
President Trump said there will be no tariffs on US goods going into Canada under the new trade deal.
A planned 50 percent tariff on Canadian imports was paused for three days to allow time to finalize the deal.
The tariffs would have affected about $20 billion worth of Canadian imports to the US.
The US and Canada have been negotiating to reduce tariffs, especially on Canadian vehicles.
The US discussed lowering Section 232 tariffs (used when imports are seen as a security threat) on Canadian cars from 25% to 15%.
Canada exports nearly 72 percent of its goods to the US.
The trade relationship was strained by tariffs imposed during President Trump’s current term.
Canadian Prime Minister Mark Carney said progress has been made but some work remains before finalizing the deal.
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President Donald Trump said on Wednesday that the United States reached a last-minute agreement with Canada on trade before new tariffs were about to start. He noted that there are now no tariffs on U.S. exports to Canada, but the deal still needs to be formally completed with signed documents.
Key Facts
President Trump announced a trade deal with Canada just before new 50 percent tariffs were to begin.
The deal will remove tariffs on U.S. exports to Canada.
The agreement has not been officially signed yet and depends on finalizing documents.
The tariffs were planned to apply to Canadian goods entering the U.S.
This announcement came as a last-minute development in ongoing trade talks.
The tariffs and trade talks concern economic relations between the U.S. and Canada.
President Trump described the breakthrough as happening “at the final moments.”
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The U.S. government has slowed escalating its trade conflict with China after China offered a truce last October. Although imports from China to the U.S. have dropped by 40%, much Chinese-made content is still entering the U.S. through other countries, leading to new U.S. measures like using AI to detect rerouted goods. However, this approach may not reduce the overall trade deficit or jobs lost, and experts say addressing the undervalued Chinese yuan might be a more effective way to manage trade imbalances.
Key Facts
Since October, the U.S. chose not to escalate the trade war after China offered a truce.
U.S. imports directly from China dropped by 40% compared to the previous year.
Many Chinese products enter the U.S. indirectly via countries like Mexico, Vietnam, and India.
The U.S. government has introduced an AI tool to detect goods rerouted through other countries to avoid tariffs.
Despite tariffs and new measures, the U.S. trade deficit with China remains high and China’s exports keep growing.
The undervalued Chinese yuan helps China keep its exports cheap and competitive globally.
Economists say the yuan's exchange rate reflects deeper economic problems like low Chinese consumer spending and large U.S. budget deficits.
Changing the yuan's value alone won’t fix the trade imbalance unless broader economic issues are addressed.
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Several universities now let students and families pay tuition using PayPal and Venmo mobile apps. These payment options are integrated into popular university payment platforms like Illumia, Nelnet Campus Commerce, and TouchNet.
Key Facts
Bellarmine University, Butler University, Kansas State University, Michigan State University, and Texas Tech University offer PayPal and Venmo for tuition payments.
PayPal and Venmo are mobile apps that let users send money digitally.
These payment methods are added to university billing platforms including Illumia, Nelnet Campus Commerce, and TouchNet.
The integration makes it easier and faster for students and families to pay tuition fees.
This move reflects a shift towards using digital payments in higher education.
Using apps like PayPal and Venmo can offer more flexible payment options compared to traditional methods.
This is part of a growing trend in universities updating their payment systems with new technology.
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A big sell-off in U.S. government bonds has caused bond yields to rise to their highest levels in years. This increase makes borrowing more expensive for Americans buying homes or cars, but also means better returns for savers.
Key Facts
The yield on the 30-year U.S. Treasury bond hit 5.3%, the highest since 2007.
The 10-year Treasury yield, which affects mortgage rates, rose to 4.7%, up from 4.2% at the start of the year.
Bond yields rise when investors want higher returns, often due to worries about inflation or government debt.
U.S. government debt is close to $40 trillion, contributing to investor concerns.
Instability in the Middle East and higher oil prices have added to inflation worries.
The U.S. Treasury plans to double bond buybacks to stabilize the market by adding liquidity.
Higher bond yields increase borrowing costs for loans but can offer better interest rates for savers.
Experts advise consumers to shop around for loans to avoid paying too much in interest.
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A proposed California law called the “Ethics Over Aesthetics Act” aimed to ban the sale of genetically engineered pets modified only for looks, such as glowing rabbits and unicorns. The bill would have allowed genetic changes for health reasons but has stalled in the state legislature despite wide support from lawmakers and animal groups.
Key Facts
The bill is Assembly Bill 1382 and was introduced by Assembly member Leticia Castillo.
It would ban selling genetically engineered pets altered just for appearance, like glowing rabbits or animals with unusual colors.
Pets covered would include common animals like dogs, cats, rabbits, birds, fish, and reptiles.
Penalties for violations could be fines of at least $5,000 per animal.
Genetic changes for health benefits or hypoallergenic traits would still be allowed.
The law would not ban all genetic engineering, only changes made purely for cosmetic reasons.
The bill passed the Assembly unanimously and had strong early support in Senate committees.
Despite this, the bill stalled and has not become law yet.
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HM Revenue and Customs (HMRC) sent over 81,000 warning letters to cryptocurrency holders in the 2025-26 financial year, alerting them to possible unpaid capital gains tax. The number of letters nearly tripled from the previous year, and new rules starting in 2027 will require crypto platforms to share customer data with tax authorities to improve tax compliance.
Key Facts
HMRC sent 81,172 letters, emails, and texts to crypto investors in 2025-26, up from 27,714 in 2023-24.
Cryptocurrency investors may owe taxes on profits made from selling or exchanging cryptocurrencies.
HMRC suspects there is widespread tax evasion in the crypto market, especially among younger investors.
Bitcoin’s value rose from about £14,000 in December 2022 to £90,000 in October 2025, creating large taxable gains.
From March 2027, crypto platforms outside the UK must share customer information with tax authorities.
HMRC expects these new powers to help collect up to £315 million by April 2030.
The £315 million could fund over 10,000 newly qualified nurses for one year.
After the price peak, Bitcoin’s value has since fallen to around £48,000 in the past year.
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Moderna announced early study results showing that its experimental mRNA cancer vaccine, combined with Merck’s immunotherapy drug Keytruda, helped melanoma patients live longer without cancer coming back compared to Keytruda alone. Following the news, Moderna's stock price more than doubled, and Merck’s shares also increased.
Key Facts
Moderna and Merck are working together on an mRNA cancer vaccine named intismeran.
Intismeran is designed to be personalized based on the unique mutations in a patient's tumor.
The study tested intismeran combined with Keytruda against Keytruda alone in melanoma patients.
Patients receiving the combination treatment had longer periods without cancer returning or spreading.
The companies did not disclose exact survival times or overall survival benefits yet.
They plan to share full study results at a future international medical meeting.
Moderna shares jumped more than 120%, reaching $140.12 per share after the announcement.
Merck’s shares also rose by about 11% following the news.
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Homeowners in the U.S. face higher insurance costs and more companies refusing to renew policies, especially in disaster-prone areas. These changes come as building costs rise and natural disasters become more common and severe.
Key Facts
Home insurance premiums increased between 18% and 43% from 2018 to 2024 across different U.S. regions.
Insurers are canceling policy renewals more often, with nonrenewal rates rising between 96% and 216% in different parts of the country.
The Southeast had the largest rise in nonrenewals, increasing 216% over seven years.
Homeowners in states like Florida, California, and Louisiana face getting fewer options for insurance coverage.
Nonrenewal means an insurer chooses not to continue a policy after it expires, which can happen even if the homeowner hasn’t made claims.
Rising costs and risks related to wildfires, hurricanes, flooding, and storms push insurers to be more selective.
Some homeowners, especially in minority groups, go without insurance because of high costs.
Lack of insurance combined with premium hikes and other housing costs is making it harder for some homeowners to stay in their homes.
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The Federal Reserve may raise interest rates soon, which could increase returns on savings accounts. Money market accounts offer more spending flexibility, while high-yield savings accounts usually provide higher interest rates but have limits on withdrawals.
Key Facts
The Federal Reserve might raise interest rates in September or October, according to a market tool.
A rate hike generally leads to higher interest rates on savings products like money market and high-yield savings accounts.
Money market accounts allow more withdrawals and often come with debit cards or checkbooks.
High-yield savings accounts usually offer better interest rates but limit how often you can access the money.
Money market accounts often have higher minimum balance requirements and possible fees.
High-yield savings accounts may have lower entry requirements but sometimes require higher balances for the best rates.
A certificate of deposit (CD) is another option that locks in interest rates for a fixed period.
Using a CD ladder strategy means spreading money across different CD terms to take advantage of rising rates over time.
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Jesse Murphy, a frequent gambler, received many free bets, tickets, food, and drinks from VIP managers at gambling companies between 2019 and 2024. The Australian government has passed a bill to limit some gambling inducements but stopped short of banning the rewards that encouraged Murphy and others to keep betting.
Key Facts
Jesse Murphy was regularly given free bets, tickets, food, and alcohol by gambling VIP managers from 2019 to 2024.
Murphy’s account received $43,700 in bonus bets from one company over two years.
VIP managers sent bonus bets even when Murphy said he might quit gambling.
Murphy stopped gambling almost two years ago, after which the free rewards stopped.
A parliamentary inquiry recommended a total ban on gambling inducements in June 2023.
The Albanese government passed a law limiting some inducements but did not ban VIP rewards.
The new law requires companies to identify “high risk” gamblers and restrict inducements to them, with the industry deciding how to define “high risk.”
Critics say the law makes only small changes and may not stop harmful gambling practices.
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Almost 20% of older Australians who asked for a review of their home support funding, which was decided by a computer program, received more help after a human checked their case. The government tool uses questions and an algorithm to decide funding, but it cannot be changed by assessors even if they think a person needs more support.
Key Facts
The integrated assessment tool (IAT) started in November and is used to decide home support funding for older Australians.
Up to 31 March, 757 requests asked for a review of funding allocated by the IAT.
Of these, 141 cases resulted in more support or a higher priority after human review.
177 cases had no change, 304 were closed, and 135 are still waiting for a decision.
The algorithm decides funding levels based on health and social questions but cannot be overridden by assessors.
Some aged care workers and older people say the tool sometimes denies needed care and causes stress.
The Commonwealth Ombudsman is investigating the tool after criticism that it is unfair.
Advocates call for more human involvement to ensure older people get fair support.
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