A Washington state judge ordered Kalshi, an online betting platform, to stop offering sports bets and other types of wagers to people in Washington. The court found that Kalshi was operating without a state license and misleading consumers about the legality of its betting services. Kalshi claims it is regulated by a federal agency and is planning legal responses.
Key Facts
A Washington state court issued a preliminary injunction against Kalshi this week.
The order stops Kalshi from accepting wagers on sports, elections, politics, culture, and other topics in Washington.
Kalshi is not licensed by Washington’s Gambling Commission and is not registered to do business in the state.
The judge found Kalshi’s marketing could mislead consumers into thinking its betting is legal under state law.
Kalshi must implement technology (called geofencing) to block Washington residents from betting by early September or face fines up to $120,000 per day.
Kalshi says it is regulated by the federal Commodity Futures Trading Commission (CFTC), which controls prediction markets.
The Trump administration and CFTC have supported Kalshi’s position against state gambling laws.
Kalshi denies offering bets on wildfires, war, death, or terrorism and plans to consider all legal options to fight the court order.
Read the Original
Want the full story? Tap a source to open the original
article.
The UK government has removed hardship bonuses for diplomats posted in Buenos Aires, Santiago, and other cities. These payments have been given for over 30 years to compensate diplomats for dangers or difficulties in their work locations.
Key Facts
British diplomats in six cities, including Buenos Aires and Santiago, no longer receive hardship payments.
Hardship payments are for working in places with risks like high crime, danger, or poor air quality.
Other cities removed from the list include Panama City, Pyongyang, Bamako, and Sarajevo.
The list still includes 144 locations, such as Bali, Rio de Janeiro, Bangkok, and Cape Town.
In 2009, the highest hardship payments were for Karachi (£26,647) and Abuja (£14,804).
Buenos Aires hardship payment in 2009 was £1,517; Santiago’s was £777.
The Foreign Office says these payments cover extra costs and challenges of living overseas in tough locations.
Conservative politicians criticize the payments, calling them unfair to taxpayers.
Read the Original
Want the full story? Tap a source to open the original
article.
Selena Gomez is being sued by five investors in her mental health company, Wondermind Global. The investors say the company is in financial trouble because Gomez did not do her duties properly, and they want to get back $1.2 million they invested plus extra costs.
Key Facts
Selena Gomez co-founded Wondermind Global with her mother five years ago.
Five investors have filed a lawsuit against Gomez and Wondermind.
The investors accuse Gomez of neglecting her responsibilities.
They claim this neglect caused financial problems for the company.
The lawsuit seeks to recover $1.2 million invested by the plaintiffs.
The investors also want to recover legal costs and damages.
The BBC contacted Wondermind and Gomez’s team for comment but no response was reported yet.
Read the Original
Want the full story? Tap a source to open the original
article.
Gold prices have gone up a lot in recent years, leading some people to consider gold individual retirement accounts (IRAs) as part of their savings plan. A gold IRA lets you hold physical gold with tax benefits, but it has specific rules, fees, and requirements different from regular retirement accounts.
Key Facts
Gold prices reached nearly $5,600 per ounce early this year and remain high at around $4,400 per ounce as of mid-August.
Gold IRAs are self-directed accounts, meaning the investor chooses the custodian and dealer, and follows IRS rules.
Not all gold products qualify for IRAs; gold must be at least 99.5% pure to meet IRS standards.
Popular gold coins like South African Krugerrands usually do not qualify, while American Eagles and Canadian Maple Leafs generally do.
IRS rules require that gold in these IRAs be stored by an approved custodian in an IRS-approved depository; you cannot store the gold personally.
Storage in these approved facilities usually incurs annual fees, with segregated storage costing more than commingled storage.
Gold IRAs have additional fees compared to normal IRAs, including setup fees, custodian fees, storage fees, and fees when selling gold.
Understanding the rules and costs of gold IRAs is important before investing to avoid surprises and penalties.
Read the Original
Want the full story? Tap a source to open the original
article.
Retail sales in the United States dropped by 0.6% in July, the largest decrease in over a year, showing that consumer spending slowed after strong growth earlier this year. This slowdown, along with weak jobs data and low inflation, suggests the Federal Reserve may pause on raising interest rates in the near future.
Key Facts
Retail sales fell 0.6% in July, below the expected 0.1% increase.
Even when removing gas stations and car dealers, sales declined by 0.3%.
Sales at auto dealers dropped 2%, gasoline stations 0.9%, and electronic stores 0.5%.
Early timing of Amazon’s Prime Day and the previous month’s World Cup spending affected July’s numbers.
The retail control group, a key measure for GDP, fell 0.4% instead of rising as predicted.
Consumer spending contributed strongly to GDP growth in the second quarter but showed less momentum going into the third quarter.
The stock market is strong, gas prices are lower, and unemployment is low, so no large spending drop is expected.
The data indicates a pause in big increases in consumer spending rather than a significant decline.
Read the Original
Want the full story? Tap a source to open the original
article.
A town in Illinois called Quincy is very excited because a billion-dollar Powerball lottery ticket was sold there. Many people are visiting the convenience store where the winning ticket was purchased.
Key Facts
The winning Powerball ticket is worth one billion dollars.
The ticket was sold in Quincy, Illinois.
The news report showed the convenience store that sold the ticket.
There is increased excitement and activity in the town.
Lottery fever describes many people hoping to win or feeling lucky.
The story was covered by CBS News and reporter Lana Zak.
The Powerball is a popular lottery game in the U.S.
Read the Original
Want the full story? Tap a source to open the original
article.
The University of Michigan's consumer sentiment index dropped in early August 2026, showing that people feel less positive about the economy. The biggest drop in confidence came from Republicans, and many expect prices to stay high, making it harder to afford things.
Key Facts
The consumer sentiment index fell 8% in early August, from 55.2 in July to 51.
Despite the drop, the index is still higher than the low points seen in spring 2026.
Inflation expectations for the next year rose slightly to 4.3%, while 5-year inflation expectations stayed at 3.3%.
Republicans showed the largest decline in economic outlook, down 19% since before the Iran war.
Older people, lower-income groups, and those without college degrees saw significant drops in sentiment.
Only 8% of consumers expect their income will grow faster than inflation in the next year, down from 18% six months earlier.
The overall concern is that inflation will continue to reduce purchasing power, making it harder to buy goods and services.
Read the Original
Want the full story? Tap a source to open the original
article.
Reddit will join the S&P 500 index starting Tuesday, which is a list of the 500 biggest and most stable U.S. companies. This means more investors and funds will buy Reddit stock as part of their investments.
Key Facts
Reddit will join the S&P 500 index next week.
The S&P 500 includes major U.S. companies that show stability and size.
Reddit’s stock price rose nearly 14% recently after the announcement.
Inclusion in the index leads mutual funds and exchange-traded funds to buy the stock.
Reddit must have been publicly traded for at least 12 months to qualify.
The company reported its highest quarterly revenue recently and has been profitable since going public in 2024.
Wall Street expects Reddit’s profits to more than double by 2026 due to rising revenue.
The index operator, S&P Dow Jones Indices, follows strict rules for adding companies.
Read the Original
Want the full story? Tap a source to open the original
article.
A $10,000 short-term certificate of deposit (CD) account can earn guaranteed interest over the next year with fixed rates that protect the principal. Rates vary by term, with potential earnings ranging from about $97 in three months to $425 in one year.
Key Facts
CDs have fixed interest rates, so earnings are predictable and not affected by market changes.
Short-term CDs mature in one year or less, offering flexibility to adjust strategies later.
Interest rates on short-term CDs today are higher than a year ago.
Example earnings on $10,000: about $97 for 3 months at 3.95%, $208 for 6 months at 4.20%, $306 for 9 months at 4.10%, and $425 for one year at 4.25%.
CD accounts are insured by the FDIC up to $250,000, protecting savers’ money.
Early withdrawal from a CD account usually incurs fees that can reduce or eliminate earned interest.
Savers should compare CD rates from different banks to find the best returns before depositing money.
Read the Original
Want the full story? Tap a source to open the original
article.
Debt collectors may call about debts that do not appear on your credit report. This can happen for several reasons, such as the debt not being reported yet, being too old to show up, or errors in information.
Key Facts
Credit reports do not always show every debt you owe.
Not all creditors or collectors report debts to the main credit bureaus (Equifax, Experian, TransUnion).
There can be a delay between when debt collection starts and when it appears on your report.
Debts usually stay on credit reports for about seven years before being removed.
A debt may still be legally collectible even if it no longer appears on your credit report.
Checking all three credit reports can help you see if a debt is listed anywhere.
Sometimes debt collectors contact the wrong person due to name confusion or identity theft.
Scammers may also pretend to be debt collectors, so it is important to verify the debt before paying.
Read the Original
Want the full story? Tap a source to open the original
article.
Putting $50,000 into a high-yield savings account could earn you about $2,000 in interest in a year if rates stay around 4%. These accounts let you access your money anytime and may pay more interest if rates increase.
Key Facts
High-yield savings accounts currently offer interest rates close to 4%.
A $50,000 deposit could earn roughly $1,975 to $2,050 in interest over 12 months at these rates.
Interest rates on these accounts can go up or down, affecting earnings.
Unlike certificates of deposit (CDs), high-yield savings accounts allow you to withdraw money anytime.
Adding more money during the year would increase your total interest earned.
These accounts carry no risk to your original deposit (principal).
Shopping around is important to find the best interest rate among banks.
Earnings projections assume you do not withdraw or add funds during the year.
Read the Original
Want the full story? Tap a source to open the original
article.
Thames Water plans to restart its desalination plant in Beckton, east London, by the end of the year to help refill reservoirs during winter after the current drought ends. The plant has rarely operated since it opened in 2011 and faces financial and technical challenges.
Key Facts
Thames Water’s Beckton desalination plant is the only one in the UK and was built to provide drinking water during droughts.
The plant has run only five times in 15 years, supplying the equivalent of about seven days’ water demand for London.
It cost about £500 million to build and maintain, funded by customer bills.
Thames Water hopes to restart the plant late this year to support reservoir recovery over winter.
The decision to use the plant depends on weather, water demand, and reservoir levels.
The plant uses special membranes to filter salt from seawater; these membranes recently reached the end of their life and face replacement issues.
Running the plant is expensive, especially because of high electricity costs, and the company is financially strained and partly controlled by creditors.
Thames Water’s performance during this drought will be carefully reviewed by government officials before deciding the company’s future.
Read the Original
Want the full story? Tap a source to open the original
article.
The FDA has issued a Class I recall for nearly 1.6 million cartons of eggs. This is the highest risk level, meaning the eggs could cause serious health problems or death if people eat them.
Key Facts
The recall covers about 1.6 million cartons of eggs.
It is labeled as a Class I recall by the FDA.
Class I recalls are for products that can cause serious health issues or death.
The recalled eggs are considered unsafe for consumption.
The FDA monitors and enforces recalls to protect public health.
Consumers should check their eggs and follow recall instructions.
The recall aims to prevent illness caused by contaminated eggs.
Read the Original
Want the full story? Tap a source to open the original
article.
CBS Mornings is offering special discounts on various products that aim to improve daily life. People can find these deals by visiting the website cbsdeals.com.
Key Facts
CBS Mornings shares exclusive product discounts.
The deals focus on items to enhance everyday living.
Shoppers can access these offers at cbsdeals.com.
CBS earns commissions when people buy through the website.
The discounts are featured during the CBS Mornings show.
The information is also available on the CBS News app.
Read the Original
Want the full story? Tap a source to open the original
article.
People with both federal and private student loans need to know that federal loan forgiveness programs usually only apply to federal loans. Private loans are not covered by federal forgiveness rules and must be managed separately, sometimes with fewer protections.
Key Facts
Major changes to federal student loan repayment options started on July 1.
Federal and private student loans have different repayment rules and protections.
Federal loan forgiveness programs apply only to federal loans, not private loans.
Common federal forgiveness programs include Public Service Loan Forgiveness, income-driven repayment forgiveness, Teacher Loan Forgiveness, and loan discharges for special situations.
Private student loans usually do not qualify for federal forgiveness but may have some relief options set by individual lenders.
Refinancing federal loans into private loans may cause loss of eligibility for federal forgiveness programs.
Borrowers with both loan types should carefully compare their options to avoid losing federal protections.
Read the Original
Want the full story? Tap a source to open the original
article.
Many people may want to change their savings accounts now because interest rates are higher than usual. Traditional savings accounts pay very low interest, often less than inflation, so switching to accounts like high-yield savings, money market accounts, or certificates of deposit (CDs) can help earn more money.
Key Facts
Traditional savings accounts currently pay about 0.38% interest on average.
Inflation is around 3.4%, so traditional accounts lose value over time.
High-yield savings and money market accounts offer interest rates near or above 4%.
Certificates of deposit (CDs) can pay up to about 4.35% interest with a fixed rate.
If an account pays less than 3.4%, it does not keep up with inflation.
Interest earnings are sometimes hard to find on monthly statements in low-rate accounts.
Online marketplaces can help compare rates and find better accounts.
Switching savings accounts can lead to higher returns without much difficulty.
Read the Original
Want the full story? Tap a source to open the original
article.
U.S. retail sales dropped by 0.6% in July, the biggest decline in over a year, after strong spending in previous months. This decrease, along with slower job growth and rising costs, suggests the economy might be slowing down. Higher prices and increased credit card debt are causing consumers to spend less.
Key Facts
Retail sales fell 0.6% in July, the largest drop since May 2025.
Spending had risen slightly by 0.2% in June before the July decline.
Gas station sales dropped 0.9% due to lower fuel prices early in July.
Gas prices increased later in July, reaching about $4.08 per gallon.
Americans owe over $1 trillion in credit card debt, up 60% from five years ago.
Online sales fell 2.2% after a big boost from Amazon Prime Day in June.
Inflation rose 3.4% year-over-year in July, down slightly from 3.5% in June.
Restaurant sales were the only services category to increase, growing by 0.5%.
Read the Original
Want the full story? Tap a source to open the original
article.
The UK government is reviewing its goal for electric vehicle (EV) sales after car makers asked for lower targets to avoid high costs and job losses. The current plan requires 80% of new cars sold by 2030 to be electric, but the government is thinking about reducing this target to as low as 50%.
Key Facts
The UK currently aims for 80% of new car sales to be electric vehicles by 2030.
Car makers have asked the government to lower this target, citing cost and job risks.
The government is considering cutting the target to 50%, allowing more hybrid vehicle sales.
The ban on selling only petrol or diesel cars after 2030 will remain.
Another option is to keep the 80% target but extend the deadline for full compliance to 2034.
The rules requiring more EV sales gradually increased yearly from 33% in 2026 to 80% in 2030.
Some groups say lowering the target weakens climate goals and harms the environment.
The policy has changed multiple times in recent years, including delays by previous prime ministers.
Read the Original
Want the full story? Tap a source to open the original
article.
BP plans to develop a large offshore gasfield in Venezuela by partnering with companies linked to President Trump’s administration. This deal marks one of the first big foreign investments in Venezuela’s oil and gas industry since the US took control of the country’s oil sector.
Key Facts
BP will develop the second phase of the Loran gasfield offshore Venezuela.
BP is partnering with two oil firms connected to President Donald Trump’s family and administration.
One partner firm is owned by the Al-Khayyat brothers, who have business ties with Ivanka Trump and Jared Kushner.
BP will also collaborate with a UAE state-owned oil investment company led by Sultan Al Jaber.
This is one of the first major foreign oil investments in Venezuela since the US ousted Nicolás Maduro in January.
Shell has a licence for the first phase of the Loran gasfield, and Italy’s Eni is also in talks for projects in Venezuela.
BP’s chief executive, Meg O’Neill, calls this an important step to develop Venezuela’s gas resources.
Venezuela’s once-large oil output dropped from 3.5 million barrels a day to about 1 million due to problems in the industry but is now rising under US influence.
Read the Original
Want the full story? Tap a source to open the original
article.
A study suggests that unemployed women who take GLP-1 drugs might have a better chance of getting hired. These drugs, which affect the body and can help with health, appear to influence career opportunities for some women.
Key Facts
GLP-1 drugs are a type of medication that can impact weight and metabolism.
The study focused on unemployed women taking these drugs.
Results indicate that these women may be more likely to find new jobs.
The research suggests a possible link between taking GLP-1 drugs and hiring chances.
The study was reported by CBS MoneyWatch and covered by CBS News.
The findings might influence how health treatments relate to employment prospects.
Details on why or how the drugs help with hiring were not included in the summary.
Read the Original
Want the full story? Tap a source to open the original
article.
