Australia’s corporate watchdog, ASIC, warns that scammers are using deepfake videos of Prime Minister Anthony Albanese and other celebrities to trick people into fake investment schemes. Australians have lost $7.4 million to these scams, which often use convincing fake websites, videos, and fake promises of high returns.
Key Facts
Scammers use deepfake technology to create fake videos of Prime Minister Anthony Albanese promoting false investment opportunities.
ASIC handled over 19,400 scam reports last financial year, nearly three times more than the previous year.
Australians lost $7.4 million to scams involving the top 10 impersonated public figures, with Albanese the most impersonated.
Scammers create networks of fake brands, websites, reviews, and news to appear trustworthy and steal money.
ASIC removed thousands of phishing links, fake investment sites, and cryptocurrency scams, all increasing significantly.
Deepfake videos often promise unrealistic returns, like earning $40,000 a month from a $4,000 investment.
Scamwatch advises people to verify companies’ legitimacy and report scams to banks or cyber security agencies.
Research shows most Australians are overconfident about spotting AI scams, catching less than half of them in reality.
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Central banks like the US Federal Reserve, Bank of England, and European Central Bank face a challenge as inflation remains above their 2% goal while economic growth slows. They are reconsidering how to manage interest rates amid worries that rising oil prices, due to conflicts in the Middle East, could push inflation higher again.
Key Facts
Inflation has generally been falling but is still above the 2% target in many industrialized countries.
War in the Middle East threatens to raise oil prices, which could increase inflation again.
Central banks were criticized in 2022 for not acting quickly enough when inflation surged.
US inflation decreased slightly to 3.4% in July but energy prices are rising again.
The Federal Reserve’s new leader, Kevin Warsh, is reviewing how the Fed operates.
Warsh and experts suggest dropping “forward guidance,” the practice of predicting future interest rates.
Economist Lord Mervyn King says central banks should focus less on rigid economic models and more on real-world uncertainty.
Experts want the Fed to explain how it will react to different economic events instead of making firm rate forecasts.
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James Green, director of the Whitstable Oyster Fishery Company (WOFC), wants to expand seating at the Forge oyster shack on a Whitstable beach area. His plan has met strong opposition from local residents and groups worried about public access and environmental impacts, leading to a wider debate about balancing business growth and community interests.
Key Facts
The WOFC harvests about 2 million oysters each year from Whitstable’s seabeds.
James Green inherited the company from his father and is continuing efforts to grow the family business.
The proposed expansion would add seating on a beach area currently used by the Whitstable Yacht Club.
Over 200 objections have been filed against the plan, including from the Environment Agency.
Opponents worry the expansion would harm flood defences and restrict public access to the beach.
Whitstable once had a large oyster industry that declined due to overfishing, pollution, and disease.
The WOFC restarted industrial-scale oyster farming in 2008 using Pacific rock oysters.
Local groups want to preserve the natural state of the beach and prevent commercial intrusion.
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Andy Burnham is being urged to protect 4 million gig economy workers by prosecuting companies that use false self-employment status to avoid giving worker rights. A report from the Fabian Society and Joseph Rowntree Foundation calls for stronger laws and enforcement to ensure gig workers receive protections like parental leave and redundancy pay.
Key Facts
About 4 million gig economy workers, such as drivers and personal trainers, often have limited rights due to being classed as self-employed.
The Fabian Society and Joseph Rowntree Foundation warn many workers miss out on key legal protections like parental leave and protection against unfair dismissal.
The report urges the Fair Work Agency to use its powers to prosecute companies that misclassify employees as self-employed.
Britain’s employment law has three worker statuses: employee (most rights), self-employed (few rights), and an intermediate "worker" status with some rights.
Labour once promised a single worker status but delayed the plan due to political pressure before the 2024 election.
Proposed employment rights changes aim to ban exploitative zero-hour contracts and give sick pay from day one but face business opposition.
The report recommends shifting the burden of proof so employers must prove a worker is self-employed, reducing legal fights for workers.
Burnham has expressed determination to improve employment rights and protect insecure workers.
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A couple in London bought an old house from the 1950s and discovered original parquet wood flooring hidden under old carpet throughout their downstairs. They plan to restore the historic floor, which is expected to require significant work and expense.
Key Facts
The house was bought late last year and described as a fixer-upper.
Original parquet flooring was found under carpet in the living room and other downstairs areas.
Parquet flooring features small wooden blocks arranged in geometric patterns and became popular in 16th-century France.
The couple is sharing their renovation process on Instagram under @hillendhousereno.
A professional floor restorer will assess the condition and restoration needs of the floor.
Restoring vintage parquet can be costly and usually requires allocating 10-15% of the renovation budget for unexpected expenses.
The couple wants to preserve and restore the original flooring rather than replace it.
The discovery was made by peeling back decades-old carpeting covering the entire lower floor.
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The historic Cinerama Dome movie theater in Hollywood, Los Angeles, will reopen in 2028 after being closed since 2020. Sony Pictures announced a new deal to operate the venue through its Alamo Drafthouse chain, preserving its unique design and history.
Key Facts
The Cinerama Dome was built in 1963 and is known for its white, geodesic, golf ball-like structure.
It was designated a historic cultural monument in 1998.
The theater closed in 2020 and remained shut due to the COVID-19 pandemic.
Sony Pictures made an agreement with the theater owners for reopening in 2028.
Alamo Drafthouse, a dine-in theater chain owned by Sony, will run the Dome but without requiring food orders at this location.
The Dome originally showcased films using Cinerama technology with three projectors and a curved screen.
Film fans and local activists campaigned strongly for its reopening through petitions and rallies.
The Dome seats 956 people and will keep showing films on its large curved screen.
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Disney announced the 2026 Disney Legends Awards ceremony will honor 11 individuals, including Anne Hathaway, Bob Iger, and Dwayne Johnson. The event will take place during D23, Disney’s fan convention, and celebrates people who have made a big impact on the company.
Key Facts
The 2026 Disney Legends Awards will induct 11 honorees.
Honorees include actress Anne Hathaway, Disney CEO Bob Iger, actor Dwayne Johnson, the Jonas Brothers, and Lin-Manuel Miranda.
The ceremony will happen at the Honda Center in Anaheim, California.
Ryan Seacrest will host the awards event.
The awards recognize individuals who significantly shaped Disney’s history and success.
The Disney Legends Awards began in 1987, with Fred MacMurray as the first recipient.
Including 2026, a total of 329 people have become Disney Legends.
The awards are part of D23, a Disney fan event held every two years where the company shares new projects and honors past achievements.
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Parents are adding extra water to baby formula milk to stretch supplies because of the high costs. Experts warn this practice is unsafe and can harm babies' health, while a charity calls for price controls on formula as it is a basic need.
Key Facts
Some parents are watering down baby formula to make it last longer due to rising costs.
This practice changes the nutritional balance, which can cause health problems for babies.
Nearly half of parents say they have more financial struggles after having a baby.
Baby formula prices have increased by over 25% in recent years, according to a government report.
Moorside Baby Bank in Consett has helped over 200 families with baby supplies but struggles to get donated formula because it is expensive.
Some parents are making homemade baby wipes and breastfeeding despite difficulties to save money.
Charities advise parents to follow formula preparation instructions and seek support if struggling.
Support services include midwives, health visitors, GPs, and local family hubs.
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British energy bills have risen sharply due to global instability, pushing UK inflation close to 3% in July, according to forecasts. This increase is causing financial strain for households and may lead the Bank of England to raise interest rates soon.
Key Facts
Inflation in the UK is expected to rise to about 2.9% in July, up from 2.6% in June.
The rise is mainly due to a 13% increase in the energy price cap set by Ofgem, the UK energy regulator.
Petrol and diesel prices have fallen slightly, which helps offset some inflation.
The Iran war is causing instability in global energy markets, affecting UK prices.
The Bank of England may raise interest rates starting September to control inflation.
UK inflation had been expected to fall close to 2% before the Iran conflict.
Prime Minister Andy Burnham announced measures like cutting VAT on electricity to reduce energy bills.
The Bank forecasts inflation could reach 3.2% by year-end and potentially 4.5% by mid-2027 if global tensions worsen.
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Miami voters will decide if the city can work with a private company to restore the Miami Marine Stadium, a historic and architecturally unique venue on Virginia Key. The stadium, once a popular site for powerboat races and concerts featuring famous performers like Jimmy Buffett, has been closed and damaged since 1992.
Key Facts
The Miami Marine Stadium opened in 1963 as the only U.S. venue for powerboat racing.
The stadium features a large concrete cantilevered roof and has a view of downtown Miami.
It was designed by Hilario Candela, a Cuban refugee, in his late 20s.
The stadium was damaged during Hurricane Andrew in 1992 and closed afterward.
It is listed on the U.S. National Register of Historic Places since 2018.
Famous events include performances by Jimmy Buffett and Gloria Estefan, and a 1972 campaign rally with President Richard Nixon and Sammy Davis Jr.
The venue has been fenced off and covered with graffiti in recent years.
Restoration would involve a public-private partnership if voters approve the plan.
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Berkshire Hathaway increased its investment in Alphabet, Google's parent company, during the second quarter of 2026. The company also expanded its holdings in homebuilders and some other sectors while reducing shares in several financial companies and other stocks.
Key Facts
Berkshire Hathaway bought about 48.1 million more shares of Alphabet, totaling roughly 106 million shares valued at $37.76 billion by June 30.
At the end of 2025, Berkshire held 17.8 million Alphabet shares worth $5.6 billion.
Berkshire increased its stake in homebuilder Lennar by nearly 30% and started a small position in D.R. Horton valued at about $580,000.
In July, Berkshire completed a $6.8 billion purchase of homebuilder Taylor Morrison.
Berkshire greatly increased shares in Delta Air Lines and Macy’s, worth $5.37 billion and $173 million respectively by June 30.
The company reduced holdings in Kroger, Nucor, DaVita, and sold all shares of Constellation Brands.
Berkshire cut its stakes in Bank of America, Ally Financial, and Capital One Financial by 6%, 6.9%, and 58%, respectively.
Greg Abel became CEO in early 2026, and Berkshire Hathaway does not publicly comment on its stock buying and selling each quarter.
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A national bank regulator appointed by President Donald Trump has given conditional approval for World Liberty Trust, a crypto company linked to the Trump family, to become a bank. This approval allows the company to issue a stablecoin tied to the U.S. dollar, potentially increasing its profits and client base. Democratic lawmakers have raised concerns about possible conflicts of interest.
Key Facts
World Liberty Trust is 38% owned by an entity affiliated with President Trump and his family.
The company received conditional approval to operate as a bank and issue a U.S. dollar-backed stablecoin.
This is the first time a sitting president's family has been granted bank status in the U.S.
Previously, World Liberty Financial used a third-party crypto firm, BitGo, to handle stablecoins but will now do this directly.
Stablecoins are digital currencies tied to stable assets like the U.S. dollar, making them less risky than cryptocurrencies such as Bitcoin.
President Trump has earned over $1.4 billion from his family's crypto ventures, according to his financial disclosures.
The Trump family’s company raised about $5 billion shortly after going public, with investments from individuals and foreign governments.
Some lawmakers worry about conflicts of interest because President Trump’s assets are managed by his children, not an independent trustee.
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Reform UK plans to change the UK welfare system to save more than £50 billion. The party wants to reduce payments for nearly three million disability claimants and introduce new support like therapies and job help instead of some current benefits.
Key Facts
Reform UK aims to save over £50 billion by overhauling welfare, including £22 billion from disability benefit reforms.
About 2.89 million people receiving disability payments may have their benefits reduced or stopped after new assessments.
New assessments would be more thorough, done in person, and would target fraudulent claims.
People with less severe conditions would no longer get payments but would get support from local councils.
Employers would get financial incentives to help sick employees return to work.
Payments would continue regularly for those who are very ill and severely disabled.
Personal Independence Payment (PIP) supports 3.7 million people in England and Wales with long-term health issues.
Reform UK criticizes current Conservative proposals as weaker and says their plan is more extensive.
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Kalshi, a company that runs a prediction market, is responding to Nevada state officials who say Kalshi did not follow rules about limiting access to users in certain locations (called geofencing). Kalshi argues that Nevada’s gaming regulator broke federal laws while making these claims.
Key Facts
Kalshi operates a prediction market, which is a platform for trading contracts based on future events.
Nevada gaming officials claim Kalshi did not meet geofencing rules by the August 12 deadline.
Geofencing means using technology to restrict users based on their geographic location.
Kalshi filed a legal motion opposing Nevada’s accusations in state court on a Friday evening.
Kalshi contends that the state’s gaming regulator violated federal law in handling this issue.
The disagreement centers on compliance with state regulations and the limits of federal authority.
This conflict highlights ongoing challenges in regulating online market platforms in different states.
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A cryptocurrency company partly owned by President Donald Trump’s family got initial conditional approval to operate as a national trust bank. The approval came from the Office of the Comptroller of the Currency, which oversees national banks.
Key Facts
The crypto company is called World Liberty Trust Co.
It is partially owned by President Trump’s family.
The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval.
The approval is for a bank charter, allowing the company to operate as a national trust bank.
The OCC is the government agency responsible for regulating and supervising national banks in the U.S.
The approval is conditional, meaning the company must meet certain requirements before final approval.
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Chef Rasmus Sjødahl is updating traditional Danish baked goods at Copenhagen Bakery by using high-quality ingredients. He adds new flavors like cardamom to classic Danish recipes to create unique treats.
Key Facts
Chef Rasmus Sjødahl works at Copenhagen Bakery (Københavns Bageri).
The bakery focuses on Danish traditional recipes.
Sjødahl uses high-quality ingredients to improve these recipes.
He introduces imported flavors such as cardamom.
The goal is to create a new twist on classic Danish baked goods.
The bakery is featured in a CBS News segment.
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CBS Mornings Deals offers special discounts on products that can make daily life easier. People can visit cbsdeals.com to buy these items and save money. CBS earns a commission when customers purchase through their website.
Key Facts
CBS Mornings Deals features products with exclusive discounts.
The deals are shown during a CBS News segment.
Customers can shop for these items at cbsdeals.com.
Buying through the website helps customers save money.
CBS receives a commission from purchases made on the site.
The discounts focus on products that improve everyday life.
The deals are promoted via CBS News and its app.
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The UK’s largest electric vehicle (EV) battery factory in Sunderland has paused plans to expand because talks to supply batteries to Jaguar Land Rover (JLR) have stalled. The delays highlight challenges in the growing EV market, with slower-than-expected demand and difficulties for UK and European battery makers.
Key Facts
The Sunderland gigafactory is owned by Chinese company AESC and makes batteries for Nissan.
Expansion plans paused due to stalled negotiations with Jaguar Land Rover over battery supply deals.
Jaguar Land Rover’s sister company, Agratas, is building a new battery factory in Somerset, expected to open in 2027 but facing construction delays.
Nissan has lowered its EV production plans and closed one assembly line in Sunderland while starting to work with Chinese carmaker Chery.
The UK government is considering lowering targets for electric car sales, which may hurt the EV supply chain.
The EV battery industry in Europe and the UK has struggled, with some projects going bankrupt or scaling down.
The shift to electric cars has slowed as demand has not grown as fast as originally expected.
Higher interest rates and changing government policies, including those under President Donald Trump in the US, have also affected the EV battery market.
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This article discusses how people feel about using GLP-1 medications like Ozempic, Wegovy, and Zepbound to lose weight. It highlights that some people, especially women, feel ashamed or reluctant to admit using these drugs, while others openly share their experience.
Key Facts
GLP-1 drugs like Ozempic, Wegovy, and Zepbound help people lose weight.
Some users hide their use of these medications because they feel ashamed or worry others will say their weight loss wasn’t “earned.”
Others openly talk about using the drugs and do not see it as cheating.
The article shared stories from both men and women who have lost significant weight with these medications.
There is no clear proof that women hide their use of GLP-1 drugs more than men.
A main issue is how society judges weight loss and whether it was achieved “the right way.”
GLP-1 medications have led to a social challenge around honesty and stigma linked to weight loss methods.
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This week, major U.S. retailers like Home Depot, Target, Lowes, and Walmart will release their earnings reports. Investors will also review the Federal Reserve's meeting notes to understand future interest rate changes amid ongoing inflation and economic concerns.
Key Facts
Home Depot reports earnings on Tuesday; Target and Lowes follow on Wednesday; Walmart reports on Thursday.
These earnings will show how consumers and businesses are managing high inflation over 3%.
Rising oil prices due to the U.S.-Iran conflict have increased gasoline and shipping costs.
Higher costs may lead people to change or reduce their spending.
Home improvement sales reports from Home Depot and Lowes indicate trends in the housing market.
Retail results from Target and Walmart reveal how families are budgeting and spending.
The Federal Reserve's July meeting minutes will be released Wednesday to provide details on interest rate decisions.
The Fed kept rates steady in July; however, some officials wanted higher rates, and one rate hike is expected before 2027.
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