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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Moderna's stock price more than doubled after announcing positive results from a trial of its experimental mRNA vaccine for melanoma, a deadly skin cancer. The vaccine, used with Merck's drug Keytruda, helped prevent the cancer from returning or spreading in high-risk patients after surgery.
Key Facts
Moderna's vaccine trial showed the treatment reduced melanoma recurrence and spread.
The vaccine tested is called intismeran and is personalized for each patient.
It was combined with Merck's Keytruda, a cancer immunotherapy drug.
Moderna’s stock rose 145% to $154.48 after the announcement; Merck’s stock increased by 10.6%.
The study focused on patients who had surgery to remove melanoma.
Experts say this is the first study to show this kind of vaccine can reduce risk of melanoma returning or causing death.
More than 234,000 melanoma cases are expected in the U.S. by 2026.
Melanoma is a deadly skin cancer that starts in cells that give skin its color.
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The US Treasury is doubling its buyback of government debt to stabilize the bond market amid worries about rising inflation. This move helped lower rising yields on long-term Treasury bonds, which had reached their highest levels in decades and affected borrowing costs like mortgages.
Key Facts
The Treasury is increasing its purchase of government debt to support the bond market.
Yields on 10-year, 20-year, and 30-year Treasury notes reached 20-year highs recently.
The 30-year Treasury yield is the highest since 2007.
High yields increase borrowing costs for loans like mortgages.
The Treasury said the buyback aims to provide more liquidity (ease of buying and selling) in the bond market.
Inflation in the US was 3.4% in July, down from 4.2% in May but still above target.
Oil and gas prices remain high, contributing to inflation concerns.
The US stock market showed slight gains after the Treasury’s announcement, helped by strong AI investment growth.
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Moderna and Merck announced that their experimental mRNA cancer vaccine helped stop melanoma, a type of skin cancer, from coming back or spreading in a late-stage trial. This success brings the vaccine closer to becoming a new treatment option for patients at high risk of cancer returning.
Key Facts
The vaccine is personalized and uses mRNA technology.
It specifically targets melanoma, a serious skin cancer.
The trial involved patients with a high risk of melanoma returning or spreading.
Results showed the vaccine was effective in preventing cancer recurrence.
This was a late-stage clinical trial, an important step before approval.
The vaccine could extend the lives of melanoma patients.
Moderna and Merck developed the vaccine together.
Positive trial results move the vaccine closer to market availability.
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Salad companies expect lower profits because of a cyclospora outbreak this summer. The outbreak made some people sick and affected sales of salad products.
Key Facts
Cyclospora is a parasite that can cause food poisoning.
The outbreak happened during the summer.
Salad companies are worried about making less money.
The outbreak led to fewer people buying salads.
Ann Berry, who started the company Threadneedle, spoke about the situation.
The news report was shared by CBS News.
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Target received nearly $1 billion back from the US government after tariffs on imported goods were ruled unlawful by the Supreme Court. This refund helped double Target's operating income in the second quarter compared to last year.
Key Facts
Target got a $994 million pre-tax refund from US tariff payments.
The refund led Target’s Q2 operating income to rise from $1.3 billion to $2.6 billion.
The refund is part of a larger $100 billion repayment of tariffs following a court ruling against some of President Donald Trump’s import taxes.
Despite this, President Trump continues to use other methods to impose tariffs on imports.
Trump delayed new import taxes on Canadian goods by three days amid trade talks.
Target is reducing its reliance on products made in China, now sourcing 30% of its store-label goods from there, down from 60% in 2017.
Target has cut prices on over 10,000 products as part of efforts to improve sales.
Target’s CEO said the company is focused on careful execution during its business turnaround.
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A new study found that people aged 50 and older who have severe sleep problems or who sleep nine hours or more each night tend to retire earlier. Those with sleep issues or long sleep duration had fewer years expected to work between ages 50 and 68.
Key Facts
The study looked at people aged 50+ and their sleep patterns and work life expectancy.
Severe sleep disturbances include trouble falling asleep, staying asleep, waking too early, and feeling unrested.
People with no sleep problems could expect about 13 years and 5 months of work left after age 50.
Severe sleep problems reduced expected work time by around 8 months.
Sleeping nine hours or more each night was linked to about 7-30 months less work time.
Short sleep (less than seven hours) did not clearly reduce working life expectancy compared to 7-8.5 hours sleep.
The shortest working life expectancy was seen in men in routine jobs with severe sleep problems.
Most retirees in the US stop working before age 65, with a median retirement age of 62.
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People often struggle with old debts that collection agencies try to collect. The law sets a time limit, called the statute of limitations, for how long collectors can sue to get money, but paying old debt can sometimes restart this clock.
Key Facts
Statute of limitations limits how long collectors can sue for unpaid debts; it varies by state and type of debt.
Most statutes of limitations last between three to six years, but some states have longer periods.
After the statute expires, collectors cannot sue or threaten to sue under federal rules, but they can still ask for payment voluntarily.
Making a payment or admitting the debt in writing may restart the statute of limitations, allowing collectors to sue again.
Old debts may remain on credit reports for up to seven years, and paying them does not always remove this record.
It is important to verify the age of the debt and understand state laws before paying collections.
Negotiating a settlement can be an option, but any agreement should be in writing before payment.
Knowing your state’s laws and the status of the debt can help avoid unintended legal or financial consequences.
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CBS Mornings Deals offers special discounts on products that can help improve daily life. People can visit cbsdeals.com to find and buy these items with exclusive offers.
Key Facts
CBS Mornings Deals features items to improve everyday lifestyle.
Discounts are available through cbsdeals.com.
CBS earns commissions when people buy products using their website.
The deals are shared during the CBS Mornings program.
The article encourages viewers to use the CBS News app and web browsers like Chrome and Safari to access deals.
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Pennsylvania Governor Josh Shapiro has set new limits on building data centers in the state. An anti-pollution advocate, Matthew Mehalik, supports these restrictions and says they are necessary to protect the environment.
Key Facts
Data centers use a lot of energy and can cause pollution.
Pennsylvania is placing new rules to control data center development.
Governor Josh Shapiro introduced these limits to manage growth.
Matthew Mehalik is the executive director of the Breathe Project, an anti-pollution group.
Mehalik believes the restrictions are important for keeping communities healthy.
Many U.S. communities are dealing with rising data center projects.
The focus is on balancing technology growth with environmental protection.
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Parents can help their children learn good money habits early on. Financial expert Jill Schlesinger shares advice on how to build strong money skills for kids.
Key Facts
Teaching kids about money helps them develop good financial habits.
Parents play an important role in guiding children on money management.
Simple activities like saving small amounts or budgeting can teach kids the value of money.
Experts suggest starting financial lessons at a young age.
Building good money habits early can lead to better financial decisions in adulthood.
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Federal law limits when and how debt collectors can contact borrowers at their workplace. While debt collectors can sometimes call you at work to find you, they are not allowed to discuss your debt with your employer or coworkers, and you can tell them not to call you at your job.
Key Facts
Debt collectors can contact you at work, but only under certain rules set by the Fair Debt Collection Practices Act (FDCPA) and the Consumer Financial Protection Bureau (CFPB).
You can tell a debt collector that your workplace is not a good place for calls, and they must stop contacting you there if your employer prohibits it.
Debt collectors cannot share your debt information with your boss, coworkers, or human resources.
They can contact others at your workplace only to find your location, but cannot reveal you owe a debt.
Debt collectors usually cannot send collection emails to your work email address unless a special exception applies.
If you use your work email for personal purposes, a debt collector having that address does not automatically give them permission to send collection messages there.
If a debt collector continues to contact you against these rules, you have legal protections and can report them.
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President Donald Trump has delayed imposing a planned 25% tariff on Canada after progress was made in trade talks between the two countries. The tariff was originally set due to concerns over illegal immigration and drug trafficking, but Canada and the US continue to seek a trade agreement.
Key Facts
President Trump paused a 25% tariff on Canadian goods before it went into effect.
Canadian Prime Minister Mark Carney said there was substantial progress on a trade deal, but work remains.
The tariff threat came after a year of tensions including retaliatory tariffs between the US and Canada.
The White House cited issues with illegal immigration and drug trafficking as reasons for the tariff.
In 2024, US-Canada trade was about $909 billion, showing strong economic ties.
Canada responded to the US tariffs by announcing its own tariffs on American goods.
Both countries are working to resolve disputes to maintain their long-standing trading relationship.
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Chinese carmaker Chery plans to open a new research and development (R&D) center in England as part of its UK expansion. The company will also start producing cars in the UK by 2027 through a partnership with Nissan, marking the first mass production of Chinese cars in Britain.
Key Facts
Chery is a Chinese car company that sells the Jaecoo, Omoda, and Lepas brands in the UK.
In July, Chery’s brands held nearly 8% of the UK car market, up from 3% the previous year.
The Jaecoo 7, a hybrid electric car nicknamed the “Temu Range Rover,” was the UK’s top-selling model in March.
Chery will open a new R&D facility in Bedfordshire at the UTAC Millbrook test center this autumn.
UTAC Millbrook has over 70 kilometers of test tracks for improving cars and testing new technology like self-driving systems and artificial intelligence.
Chery has signed an agreement with Nissan to build cars at Nissan’s Sunderland factory starting in 2027.
The new R&D center will help Chery develop cars suited to UK roads and drivers and create local engineering jobs in the future.
Chery is partially owned by the Chinese government and benefits from lower costs and support, making it competitive against European carmakers.
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Household energy bills in Great Britain are expected to rise by about 4% this winter, reaching their highest level in three years. The increase, driven by higher global gas prices linked to the Middle East conflict, will outweigh the government's cut of VAT on electricity bills.
Key Facts
The energy price cap will rise to around £1,729 per year from October 2024 through early 2026.
This is a 4% increase and the highest energy price cap since July 2023.
Rising gas prices, influenced by the Middle East war and higher gas use during European heatwaves, are pushing bills up.
The government plans to reduce VAT on electricity bills starting in October to lower costs by about £45 per year.
The VAT cut will not fully cancel out the overall rise in energy bills.
Ofgem, the UK energy regulator, sets the price cap based on wholesale gas and electricity costs.
Energy consultants warn that UK households’ reliance on imported gas makes them vulnerable to global price changes.
There could be further bill increases from January 2025 if gas prices stay high.
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China’s Unitree Robotics saw its shares rise over 620% when it started trading in Shanghai, showing strong investor interest in humanoid robots. The company is one of the first in mainland China to list as a humanoid robotics firm and has shipped thousands of robots worldwide.
Key Facts
Unitree’s shares jumped more than 620% at its market debut on the Shanghai STAR Market.
The company’s market value reached as high as 445 billion yuan (about $66 billion).
Unitree priced its initial public offering (IPO) at 50.8 yuan per share, valuing the company at around 61 billion yuan ($9 billion).
The company was founded in 2016 and is known for humanoid robots that can perform actions like dancing and martial arts.
Last year, Unitree shipped over 5,500 humanoid robots globally.
A new model called Superman can jump two meters high and run at 12.66 meters per second.
China holds around 75% of the global market for humanoid robots and autonomous vehicles.
The U.S. government recently banned imports of Chinese humanoid robots due to national security concerns.
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The Christian metal band Demon Hunter has filed a lawsuit against Netflix over the use of the name "Kpop Demon Hunters" for a film, concert tours, and merchandise. The band says this has caused confusion among fans and is damaging their brand, so they want Netflix to stop using the name and to pay damages.
Key Facts
Demon Hunter is a Christian metal band from Seattle with 25 years of history.
They claim Netflix’s "Kpop Demon Hunters" movie and related tour and merchandise cause confusion with their band and products.
The band’s company, Hyde Lane, owns the trademark for "Demon Hunter" related to music and merchandise since 2022.
Netflix has trademarked "Kpop Demon Hunters" for merchandise and has other trademarks pending.
The complaint cites incidents of fans and industry people confusing the band with the Netflix project.
"Kpop Demon Hunters" is Netflix’s most-watched original movie and will have a global live tour starting in 2027.
The movie won awards for best animated film and best original song at the 2026 Golden Globes and Oscars.
Demon Hunter wants the court to ban Netflix from using the name in music, shows, and merchandise and to award damages.
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Inflation in the UK has risen due to higher energy bills following the war in Iran, but the increase is smaller than first expected. Despite some price rises, wages have generally kept up with inflation, and experts believe inflation will slow down in the medium term.
Key Facts
Energy bills rose recently because of the war in Iran, pushing inflation higher.
Food prices have increased by about one-third over the past four years.
Inflation after the Iran conflict is less severe than initially feared.
Food inflation is currently low, at about 1.3%, the lowest in nearly five years.
Wages and benefits have mostly increased faster than inflation this year.
Inflation is expected to reach around 3.5% later this year.
The UK government may need to offer more financial help ahead of the Budget.
The Bank of England aims to reduce inflation to 2% over time and may or may not raise interest rates this year depending on inflation changes.
Ongoing conflicts in the Middle East pose a risk of further price increases, especially in energy.
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