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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A Powerball ticket sold in Illinois won a $1.04 billion jackpot, one of the largest prizes in the game's history. The winner can choose a full annuity payment over 30 years or a smaller lump-sum cash payment, both of which will be reduced by taxes.
Key Facts
The winning ticket was sold at a gas station in Quincy, Illinois.
The jackpot was $1.04 billion, the eighth largest in Powerball history and biggest in 2026 so far.
The numbers drawn were 4, 26, 66, 67, 69, and Powerball 9.
More than three million other tickets won smaller cash prizes by matching some numbers.
The winner can take the prize as 30 yearly payments increasing about 5% each year, or as a lump sum of $450.5 million.
Federal taxes take at least 24% of winnings upfront, with possibly more owed later; Illinois taxes lottery winnings at 4.95%.
Taking the lump sum after taxes could reduce the prize to about $283.8 million.
Illinois law lets big winners stay anonymous, so the winner’s identity is not public.
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Families are facing higher prices for children’s shoes as the new school year starts. Shoe costs have risen quickly, making it harder for parents to buy the right size shoes for fast-growing kids while sticking to their budgets.
Key Facts
Children’s shoe prices rose 3.2% in the first half of 2026, the fastest increase in 34 years except for recent pandemic years.
Parents are spending more time hunting for discounts or buying fewer shoes due to higher costs and other rising expenses like food and gas.
Kids often need new shoes every six to nine months because their feet grow quickly, especially between ages 7 to 10.
Some sneakers cost as much as $145 to $300, which is more than many families plan to spend.
Quality concerns arise as some parents feel shoe quality has declined even though prices are going up.
Parents are looking for versatile shoes and coupons from stores like DSW and Zappos to save money.
Exact shoe fit is important for kids’ foot health, making buying shoes more challenging than buying clothes.
Rising shoe prices add pressure to already tight family budgets during back-to-school shopping.
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Wholesale prices in the U.S. did not increase from June to July, showing a slowdown in inflation before it reaches consumers. The yearly rise in wholesale prices fell to 4.7% in July from 5.5% in June, helped by lower gas and food costs.
Key Facts
The Labor Department measures wholesale inflation using the producer price index (PPI).
The PPI increased by 4.7% in July compared to the same month last year.
This rise was smaller than June's 5.5% increase.
From June to July, wholesale prices stayed the same with no monthly increase.
The previous month saw a small 0.1% decrease in wholesale prices.
Lower gas prices helped reduce the inflation spike caused by tensions related to the Iran war.
Food prices also became less costly, contributing to the overall slowdown in wholesale inflation.
Slower wholesale inflation could lead to lower consumer inflation in the future.
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The Frasers Group, owned by Mike Ashley, has bought the luxury department store Harvey Nichols. The deal includes six stores, the online business, and international franchises, with stores continuing to operate under current licenses.
Key Facts
Frasers Group, owned by Mike Ashley, purchased Harvey Nichols.
Harvey Nichols has six stores, including its main one in Knightsbridge, London.
The deal includes the brand's online business and international franchise rights.
Harvey Nichols sells more than 800 premium and luxury brands and employs over 1,000 people.
The company warned it might have to close if it didn’t get new investment.
Harvey Nichols entered administration (a process to handle financial trouble) in June 2026.
Frasers Group plans to make changes to improve and strengthen the business.
Harvey Nichols’ CEO said the purchase is an important step for the company’s future growth.
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Wholesale prices in the U.S. did not rise from June to July, showing a slowdown in inflation partly due to falling gas and food costs. This slowdown may indicate that consumer inflation could decrease in the coming months, but wages have not kept up with price increases, affecting household budgets.
Key Facts
The producer price index (PPI), which tracks inflation before it reaches consumers, rose 4.7% in July compared to last year, down from a 5.5% increase in June.
Wholesale prices stayed flat from June to July, after a small 0.1% decrease the month before.
Core wholesale inflation, which excludes volatile food and energy costs, fell to 4.2% year-over-year in July, down from 4.7% in June.
Gas prices went down in early July but increased again later in the month and into August.
Consumer prices have increased faster than wages for four months, making it harder for many Americans to afford essentials like rent and utilities.
The Federal Reserve may decide not to raise interest rates in September because inflation is cooling and economic growth appears weak.
Job cuts in July suggest economic weakness, which could influence the Fed’s decision on interest rates.
The personal consumption expenditures (PCE) index, a key inflation measure watched by the Fed, will be released later in the month.
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Taylor Farms, a company that produces food, has been connected to two separate outbreaks involving its fresh produce. These outbreaks have raised concerns about the safety of the company's products.
Key Facts
Taylor Farms is a food producer that supplies fresh fruits and vegetables.
Two outbreaks have been linked to the produce supplied by Taylor Farms.
The outbreaks involve health issues related to consuming contaminated produce.
Authorities are investigating whether the two outbreaks are connected.
The company may need to recall some of its products to protect consumers.
Food safety is a key concern in the production and distribution of fresh produce.
Recalls happen when products are found to be unsafe to eat.
Keeping food safe requires careful handling from farm to table.
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A single Powerball ticket sold in Illinois won a $1.04 billion jackpot. A certified public accountant shared advice for the winner on how to handle the money.
Key Facts
The winning Powerball ticket was sold in Illinois.
The jackpot amount is $1.04 billion.
Only one ticket won the jackpot.
Dan Geltrude, a certified public accountant, gave tips for the winner.
The tips focused on managing the large sum responsibly.
The story was covered by CBS News.
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Bob Iger, who used to be the boss of Disney, and investor Josh Kushner have agreed to buy the Los Angeles Lakers basketball team. The deal is reported to be worth $12.5 billion, a record amount.
Key Facts
Bob Iger is the former CEO of Disney.
Josh Kushner is an investor and the brother of Jared Kushner, President Donald Trump's son-in-law.
They have agreed to buy the Los Angeles Lakers.
The purchase price is $12.5 billion.
This is a record amount for buying a sports team.
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The movie "Coyote vs. Acme," a mix of live action and cartoons starring Will Forte, was finished but canceled by Warner Bros. about three years ago. Now, an independent company called Ketchup Entertainment bought the rights and will release the film on August 28, 2026.
Key Facts
"Coyote vs. Acme" combines Looney Tunes cartoons with live action.
The film was based on a comedy column by Ian Frazier in The New Yorker.
Warner Bros. canceled the finished movie three years ago, along with two other films.
The studio decided to write off the $70 million production cost as a tax loss.
Will Forte stars as Wile E. Coyote’s lawyer in the movie.
After public criticism, Warner Bros. sold the movie rights for about $50 million.
Ketchup Entertainment, known for releasing Looney Tunes movies, will distribute the film.
The movie will be released on August 28, 2026.
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The Frasers Group, owned by Mike Ashley, has bought the luxury department store chain Harvey Nichols after it entered administration due to financial troubles. The deal includes most UK stores, while overseas outlets will continue under franchise agreements, and significant changes are planned to make the business sustainable.
Key Facts
Harvey Nichols went into administration because it ran low on money.
Frasers Group purchased several key UK stores, including those in London, Manchester, Birmingham, Leeds, and Edinburgh.
Overseas stores in places like Dubai and Hong Kong will continue operating under franchise agreements.
The Harvey Nichols restaurant in London’s Oxo Tower is not part of the deal and will be sold separately.
Frasers Group plans to restructure the stores and may rebrand some locations under House of Fraser or Flannels.
Harvey Nichols has struggled financially for years, worsened by the pandemic and competition from other luxury stores.
The company reported a loss of £105 million for the year ending March 2025.
Frasers Group has experience buying and reshaping troubled retail brands, like House of Fraser.
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Water companies in the UK have been given temporary approval to raise customer bills by £3.4 billion over the next years. This money will support infrastructure, meet growing demand, and address pollution, but the decision is not final and will be reviewed after public feedback.
Key Facts
Ofwat, the water regulator, allowed 13 water companies to request extra funds to cover new costs.
Nearly one-third of the extra funding will help maintain current water services.
The money will also be used for new housing, data centers, and to tackle harmful pollutants called "forever chemicals."
Five water companies will raise bills by £1 to £43 in 2027/28 and 2029/30.
Ofwat has a public consultation period and will make a final decision in December.
Water companies originally asked for £4.3 billion, but not all requests were approved.
A campaign group criticized the decision, saying water companies have not invested enough in 30 years.
Plans include early work on pollution cleanup that was previously scheduled for 2030-35.
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The article discusses how some parents continue to closely manage their adult children's work lives, a behavior called "helicopter parenting" in the workplace. It also offers advice to a caller about saving money for college, comparing different savings plans and how to divide money fairly between children.
Key Facts
"Helicopter parenting" means parents closely control or manage their children's decisions, even at work.
The show talks about why parents might need to give their adult children more independence at work.
A caller named Marie has a newborn and a toddler and wants advice on saving for college.
The hosts explain options like Trump Accounts and 529 plans, which are ways to save money for education.
They discuss which savings plan might be better depending on the situation.
The show briefly mentions a question about whether young people spend too much money on McDonald's.
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The UK government plans to tighten rules on zero hours contracts, making employers offer guaranteed hours after a certain amount of work. This change could cost businesses up to £2.9 billion a year, especially in hospitality and retail, according to government analysis.
Key Facts
The proposed reforms would require employers to offer guaranteed hours after employees work a set number of hours each week.
The cost to employers could range from £350 million to £2.9 billion annually, depending on the final rules.
Most of the highest costs come from compensation businesses must pay when they cancel shifts.
The government is considering setting the threshold between 8 and 20 hours per week.
Hospitality and retail sectors would be the most affected due to their high use of zero hours contracts.
Business groups warn that the increased costs and administrative work could reduce flexibility and harm hiring.
The Trades Union Congress supports the reforms to provide workers with more stable and predictable hours.
Retailers may need to spend hundreds of millions updating payroll systems to comply with the changes.
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The UK economy showed stronger growth than expected in the first half of 2026, remaining the fastest growing in the G7 group despite challenges like the Iran war and higher energy prices. However, experts warn this resilience might not last due to rising energy costs and ongoing global uncertainties.
Key Facts
The UK economy grew 0.4% in the three months to June 2026, after a 0.6% growth in the first quarter.
Consumer spending rose by 0.3%, helped by warm weather and England’s success in the World Cup.
Business investment increased by 1.7%, with a notable boost from the IT sector, partly due to artificial intelligence development.
Deutsche Bank predicts the UK economy could grow 1.1% this year, better than the IMF’s earlier forecast of 0.8%.
Energy price protections helped households during the first half, but a 13% rise in the energy price cap since July may increase financial struggles.
Inflation remains high, and many households have little cushion after years of rising prices.
Ongoing Middle East conflicts could keep oil prices high, adding more pressure on the economy.
The UK government faces challenges balancing support for households and businesses with increased spending on defense and infrastructure.
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The US economy lost 23,000 jobs in July, and previous months’ job numbers were revised down by 103,000. Research suggests artificial intelligence (AI) is contributing to higher unemployment and slower wage growth in jobs exposed to AI technologies.
Key Facts
The US lost 23,000 jobs in July, with May and June job totals revised downward by 103,000 combined.
Wage growth slowed to 0.1% from June to July and increased only 3.2% over the past year, the slowest in five years.
About 30% of US jobs are significantly affected by AI, with unemployment rates half a percentage point higher in these jobs.
Workers in AI-exposed jobs face longer joblessness periods and harder re-employment.
Wage growth in AI-exposed jobs fell by 6.7% since 2023, causing an estimated $28 billion loss for 5.8 million workers.
Public concern is high: over half of Americans worry AI might cause job loss in their households.
Campaign groups supporting AI development have raised large amounts of money, reflecting growing political influence in AI.
Some AI-related companies, like Amazon, are investing in projects that may increase carbon emissions, raising environmental concerns.
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Generation Z shows a strong trust and interest in cryptocurrency compared to older generations. Many young people feel confident using crypto platforms, while older groups tend to invest more in traditional retirement plans like 401(k)s.
Key Facts
A survey by OKX found that 40% of Generation Z and 41% of millennials trust crypto platforms.
Only about 27% of older generations reported confidence in using crypto.
Generation Z has a growing interest in cryptocurrency as an investment option.
Older generations often prefer saving money through 401(k) retirement plans.
The survey highlights a clear divide between younger and older generations in their investment choices.
Millennials show similar confidence levels in crypto as Generation Z.
Crypto platforms are digital services where people can buy and sell cryptocurrencies like Bitcoin.
401(k) plans are employer-sponsored retirement savings accounts common in the U.S.
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