In Lagos, Nigeria, rising fuel prices have led some drivers to choose electric vehicles as a cheaper alternative. However, switching to electric cars is still difficult in Africa’s largest oil producer due to various challenges.
Key Facts
Fuel prices in Nigeria have increased significantly in recent years.
Lagos experiences heavy traffic jams with noisy engines.
Some motorists in Lagos are now using electric vehicles to avoid expensive fuel.
Electric vehicles produce less noise compared to traditional cars.
Nigeria is Africa’s biggest oil-producing country.
Despite this, the shift to electric vehicles faces many obstacles.
Challenges include infrastructure and cost issues for electric cars.
The article highlights a growing interest in electric vehicles amid fuel price rises.
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New research shows that unemployed women who take GLP-1 weight-loss drugs are more likely to find a job and have higher marriage or cohabitation rates after 18 months. However, these drugs do not seem to help women who already have jobs get promoted or earn more money.
Key Facts
Women taking GLP-1 drugs saw a 27% increase in employment after 18 months compared to those who wanted the drugs but did not use them.
Marriage and cohabitation rates rose by 29% for women after 18 months of GLP-1 use.
The study found no evidence that GLP-1 drugs helped employed women get raises or promotions.
The "female obesity penalty" means heavier women often earn less and face more job discrimination.
GLP-1 drugs help reduce visible body weight, which seems to improve job prospects mainly by affecting hiring decisions.
Early users of GLP-1 drugs tend to be financially better off, raising questions about unequal access.
The research suggests weight-loss medication might influence social and economic treatment of women but also raises concerns about using medical treatment to address discrimination.
By the end of 2024, 6% of women had started GLP-1 medication to lose weight, including 9% of women with a history of obesity.
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A new report shows that Elon Musk earned over 2.5 million times more than the average Tesla worker in 2025, highlighting a large gap between CEO and worker pay. The report also notes that President Trump’s income rose significantly in 2025, mainly from cryptocurrency holdings, while many American workers face financial difficulties.
Key Facts
Elon Musk’s total pay in 2025 was $158.3 billion, more than 2.5 million times the pay of an average Tesla employee.
The typical ratio of CEO to worker pay in major companies was 312 to 1 in 2025, increasing from 285 to 1 in 2024.
Including Musk, the average CEO to worker pay ratio rises to 5,387 to 1.
Average CEO pay (excluding Musk) increased from $18.9 million in 2024 to $22.8 million in 2025.
President Trump earned $2.2 billion in 2025, mostly from cryptocurrency, a 254% increase from 2024.
Many US adults face economic challenges: 33% have no retirement savings; 37% can't cover a $400 emergency; 26% skipped medical care due to cost; 23% of renters are behind on rent.
The report claims government policies, particularly a budget bill supported by Republicans, cut social programs while providing tax cuts to corporations and wealthy individuals.
A White House spokesperson said President Trump’s assets are managed independently to avoid conflicts of interest.
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Getting married does not automatically combine the debts that each person has before marriage. Debts held in one spouse’s name remain that person’s responsibility, but jointly taken loans during marriage must be repaid by both spouses. Rules about debts incurred during marriage vary depending on state laws.
Key Facts
Marriage changes some financial responsibilities, but prior debts usually stay individual.
Debts like credit card balances or personal loans kept in one name remain that person's to repay.
Joint loans or mortgages taken out by both spouses must be paid by both.
Divorce agreements may assign one spouse responsibility, but the lender still holds both liable.
In some states called community property states, debts incurred during marriage may be shared even if only one name is on the account.
Debt affecting one spouse can impact the household budget and financial plans.
Couples should understand local laws about debt responsibility.
Seeking debt relief options may help couples struggling with large monthly debt payments.
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U.S. mortgage rates fell slightly for the first time in six weeks but remain higher than they were a year ago. The average 30-year fixed mortgage rate dropped to 6.67%, offering slight relief to homebuyers, while 15-year fixed rates also decreased but stayed above last year’s levels.
Key Facts
The 30-year fixed mortgage rate fell to 6.67% from 6.69% last week.
One year ago, the 30-year rate averaged 6.58%.
The 15-year fixed mortgage rate dropped to 5.96% from 6.01%, but was 5.71% a year ago.
Sales of previously owned homes slowed in July as rising rates affected buyers.
Mortgage rates are influenced by inflation, Federal Reserve policies, and bond market trends.
The 10-year Treasury yield, which helps set mortgage rates, recently eased to 4.61% after reaching 4.72%.
The U.S. war with Iran and rising oil prices earlier in the year pushed mortgage rates up; though oil prices have cooled, rates remain higher than before the conflict.
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Cooluli is recalling about 250,000 small refrigerators because some models can catch fire or overheat. Customers who bought certain 10-liter and 15-liter fridges between 2019 and 2024 should stop using them and get a free repair kit from the company.
Key Facts
Cooluli minifridges from specific older batches are being recalled due to fire and burn risks.
The problem comes from an electric switch that can short circuit and overheat.
There have been at least 19 reports of the fridges sparking, smoking, or catching fire.
Property damage reported from these incidents is more than $80,000.
One person reported smoke inhalation from a recalled fridge.
The recalled models were sold on Cooluli’s website and Amazon for $80 to $120.
Only certain 10-liter and 15-liter models with an internal power supply are affected; newer models are not included.
Customers can check their model online and request a free repair kit by following instructions on Cooluli’s website.
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Putting $100,000 into a 1-year certificate of deposit (CD) will likely earn about $300 more in interest than putting the same amount into a high-yield savings account, based on current rates. However, CDs lock your money for a fixed time and charge a penalty if you withdraw early, while high-yield savings allow easier access but have variable rates that can change.
Key Facts
Inflation in July was 3.4%, higher than the Federal Reserve’s 2% target.
Inflation affects interest rates, which have stayed mostly steady through 2026.
A 1-year CD offers a fixed interest rate of about 4.40%.
A high-yield savings account currently offers about a 4.10% interest rate, which can change over time.
A $100,000 deposit in a CD will earn approximately $4,400 in one year.
A $100,000 deposit in a high-yield savings account will earn about $4,100 if the rate stays constant.
CDs typically require locking in money and have penalties for early withdrawal.
High-yield savings accounts allow easier access to funds but have variable interest rates.
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Many people carry large amounts of credit card debt, making it hard to pay off because of high interest rates. Debt settlement can reduce the amount owed, but fees from debt relief companies cut into the savings.
Key Facts
Credit card debt in the U.S. reached $1.26 trillion in the second quarter of 2026.
Average credit card interest rates are about 22%.
Debt settlement typically reduces balances by 30% to 50%.
For $15,000 debt, settling could cost between $7,500 and $10,500 before fees.
Debt relief companies charge fees from 15% to 25% of the total debt enrolled.
For $15,000 debt, fees would be $2,250 to $3,750 depending on the rate.
After fees, total costs are higher, which reduces net savings.
Debt settlement might be a good option for those who cannot keep up with payments.
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A new study shows that retirement savings last longer in some U.S. states than others, with retirees in Alaska, Maryland, and Virginia projected to keep the most money by age 79. This difference is mostly due to variations in retirement income, not the cost of living in each state.
Key Facts
Retirees in Alaska are expected to have $286,000 left at age 79, the highest amount among all states.
Indiana has the lowest projected remaining retirement savings at age 79, with $84,747.
The study assumes retirees spend $524,682 over 13 years after age 67.
Average annual retirement income nationwide is about $27,600, but it varies by state.
States with higher retirement incomes tend to have higher remaining savings despite often higher living costs.
U.S. life expectancy reached 79 years in 2024, making retirement savings last longer.
The differences in remaining savings are mostly due to income levels and tax policies, not cost of living.
Some states with lower incomes may offer a lower cost of living, which the study did not fully account for.
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An expert in business law says people are watching movies at home more because they like streaming better and because of bad practices in the movie industry. This change in movie watching is not mainly caused by one company buying another.
Key Facts
Movie theaters are seeing fewer viewers.
People prefer to stream movies at home.
Some practices within the movie industry are causing problems for theaters.
The possible purchase of Warner Brothers by Paramount Skydance is not the main reason for fewer theater visitors.
The shift to streaming is driven mainly by what consumers want.
Business experts are analyzing the movie industry's changes and consumer habits.
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Afterpay continues to operate at a loss in Australia but has expanded its services to new areas, including event venues. The Buy Now Pay Later (BNPL) market in Australia has slowed down due to new regulations and competition from traditional credit cards, leading some companies to exit the market.
Key Facts
Afterpay has never made a profit in Australia and recently bought naming rights for a Sydney Olympic Park arena.
Australians spent much more with credit cards ($22 billion in 2025) than with BNPL services.
Spending growth on BNPL platforms slowed from $3 billion a year to $1.5 billion by 2025.
At least eight BNPL companies have left the Australian market since 2022, leaving four major players: Afterpay, PayPal, Klarna, and Zip.
New Australian laws in 2025 required BNPL companies to do credit checks and report accounts, slowing approval processes and reducing BNPL use.
Some BNPL customers face late payment fees, with Afterpay reporting a 2.9% rate of accounts three months overdue.
Businesses pay about 3% fees to BNPL companies per transaction, higher than credit and debit card fees.
Afterpay earned $625 million from merchant fees in 2025 but still had a $741 million pre-tax loss in Australia.
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A company founder shares a lesson about dealing with a government regulator. The founder explains that even if you cooperate, you might still be the focus of an investigation.
Key Facts
The article is about an investigation by the SEC (Securities and Exchange Commission).
The writer is a company founder.
The founder did not expect to be the target of the SEC investigation.
Cooperation with the regulator does not guarantee you are not being investigated.
The article highlights the challenges companies face when working with regulators.
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CBS News financial analyst Jill Schlesinger explains the best time to start receiving Social Security retirement benefits. She provides tips to help people save money by choosing when to claim these benefits.
Key Facts
Social Security offers retirement benefits to eligible individuals.
The timing of when you start claiming benefits can affect how much money you receive.
Claiming benefits earlier may result in smaller monthly payments.
Waiting longer to claim can increase the monthly benefit amount.
Jill Schlesinger is a financial analyst who provides advice on managing Social Security.
The segment is sponsored by AT&T Business.
This advice helps people plan their retirement finances better.
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Hershey won a lawsuit claiming its Reese's Halloween pumpkins were misleading because the candies do not have the pumpkin faces shown on the wrappers. The company is bringing back these treats without changing their smooth shapes and plans to release many new Halloween-themed products this year.
Key Facts
A 2024 lawsuit said Hershey’s Reese’s pumpkins were misleading because the candy lacked the pumpkin faces shown on the wrapper.
A judge dismissed the lawsuit in September 2025, allowing Hershey to keep selling the candies unchanged.
Reese's pumpkins will return to stores in 2026 with their original smooth, oval shape.
Hershey announced 20 new Halloween products hitting stores this week, marking their largest Halloween release.
Halloween celebrations now start earlier, with some consumers holding “summerween” events during summer months.
Halloween spending reached a record $13.1 billion in 2025.
About two-thirds of parents surveyed by Hershey had already bought Halloween candy by summer 2026.
Other Halloween items include Hershey’s cookies ’n’ creme fangs, vampire and witch-shaped KitKats, and Halloween-packaged popcorn and corn balls.
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The National Retail Federation says families will spend about $1,400 on average for college dorm room supplies this year. Experts offer tips to help families save money when buying these items.
Key Facts
Families and students will spend around $1,400 on dorm room essentials in 2024.
This spending estimate comes from the National Retail Federation.
Dorm room essentials include things like bedding, storage, and school supplies.
Money-saving tips are available to help reduce the cost of move-in shopping.
Smart shopping advice can include comparing prices, looking for sales, and buying multi-use items.
The information focuses on preparing for college move-in time.
The aim is to help families manage expenses during back-to-school shopping.
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Anthropic, an artificial intelligence company, is expected to go public with a value of around $2 trillion, which would make its stock market debut the largest ever. Investors believe its fast-growing sales and advanced AI technology justify this high value, despite challenges like government restrictions and competition.
Key Facts
Anthropic plans to start selling shares publicly in October with a valuation near $2 trillion.
The company’s revenue is expected to grow to $100-$120 billion by the end of 2026.
Its valuation is higher than SpaceX and surpasses OpenAI’s current valuation of $965 billion.
Investors have poured nearly $100 billion into Anthropic in 2026.
The Commerce Department temporarily banned Anthropic’s best AI models due to export controls in June.
Anthropic faces legal disputes with the US Department of Defense and concerns over being labeled a supply-chain risk.
The company’s main AI models cost more to use than some competitors, including OpenAI and cheaper Chinese alternatives.
Despite setbacks, Anthropic’s technology has improved and attracted business customers, helping it grow rapidly.
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A Powerball ticket sold at a gas station in Quincy, Illinois, won the $1 billion jackpot. The winning numbers were announced, and the winner has not been identified yet. The prize can be taken as yearly payments over 29 years or a one-time payment of $450.5 million.
Key Facts
The $1 billion Powerball jackpot was won by a ticket sold at a Hy-Vee gas station in Quincy, Illinois.
Quincy is about 100 miles west of Springfield, near the Missouri border.
The winning numbers were 4, 26, 66, 67, 69, with a Powerball number of 9.
The winner has not yet come forward publicly.
The jackpot can be collected as $1 billion over 29 years or a $450.5 million lump-sum payment.
This jackpot is the eighth largest in Powerball history.
Mega Millions, another lottery game, has also had a $1 billion jackpot winner.
The largest lottery jackpot ever was over $2 billion, won in California in 2022.
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A $1 billion Powerball lottery ticket sold in Quincy, Illinois, won the jackpot, ending a three-month period without a top winner. The winner can choose to get $1 billion paid over 29 years or take a lump sum of $450.5 million.
Key Facts
The winning ticket was sold at a Hy-Vee gas station in Quincy, Illinois.
The winning numbers were 4, 26, 66, 67, 69, and the Powerball number was 9.
It is not clear if the jackpot winner has claimed the prize yet.
The jackpot is the eighth-largest in Powerball history and the first since ticket sales started in the UK.
The jackpot prize can be received as an annuity over 29 years or as a smaller lump-sum payment.
Four other tickets across the US won $1 million by matching five numbers but missing the Powerball number.
More than 3 million tickets won smaller prizes in the same drawing.
The next Powerball jackpot starts at $20 million for the upcoming drawing.
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Whole Foods is recalling more products that contain jalapeño peppers because of concerns about salmonella, a type of bacteria that can cause food poisoning. This action follows earlier recalls of other products with the same peppers sold at various stores.
Key Facts
Whole Foods is recalling additional products made with jalapeño peppers.
The recall is due to possible contamination with salmonella.
Salmonella is a bacteria that can cause food illness.
Other products containing jalapeño peppers were previously recalled.
These previous recalls affected products sold at many different retailers.
The recalls aim to protect consumers from getting sick.
Whole Foods is cooperating with health officials during the recall process.
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Inflation in the U.S. eased to 3.4 percent in July, showing a small monthly price increase of 0.1 percent, which reduces immediate pressure for the Federal Reserve to raise interest rates. However, mortgage rates remain high, and any increases in these rates can significantly raise monthly housing costs, affecting affordability for many Americans.
Key Facts
Inflation fell to 3.4 percent in July with a 0.1 percent rise in the consumer price index (CPI).
The Federal Reserve is expected to keep interest rates high but may pause rate changes after recent weak jobs data.
Mortgage rates have risen, with the average 30-year fixed rate recently reaching 6.69 percent.
Housing costs make up about one-third (33.4%) of the average U.S. household expenses, while food accounts for around 13%.
Small increases in mortgage rates add hundreds of dollars to monthly payments and reduce the amount people can afford to borrow.
Elevated mortgage rates worsen the housing affordability crisis and limit home sales and refinancing.
Housing market activity is constrained because many homeowners keep mortgages secured at lower historic rates.
Inflation’s impact on mortgage costs is more significant than its effect on everyday items like groceries.
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