Americans are spending more carefully this Mother's Day due to rising prices, known as "momflation." They are choosing smaller or less expensive gifts and favoring experiences like brunch instead of costly dinners, but overall spending is still expected to reach a record $38 billion.
Key Facts
Mother's Day spending in the U.S. is expected to reach $38 billion in 2024, up from $35.7 billion in 2023.
Flowers remain the top gift, with 75% of shoppers planning to buy them, even though flower prices rose 16% from last year.
Many shoppers plan to use coupons, buy fewer gifts, or choose lower-priced items.
Tariffs and higher shipping costs have increased flower prices and taxes on bouquets.
More people value giving time, help, or a day off over expensive gifts.
Dining out costs for Mother's Day are rising about 4%, with brunch becoming a popular, less costly option.
Beef prices remain high, making beef-heavy dinners more expensive.
Over half of shoppers worry they might spend more than they can afford this year.
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The article explains that current housing policies give people who resist new housing developments too much power. This resistance makes homes more expensive for others, but the reasons behind the opposition are not backed by strong evidence.
Key Facts
Current rules allow homeowners who oppose new housing to block development projects.
This opposition acts like a veto, stopping new homes from being built.
The fears that cause people to oppose new housing do not have strong proof.
These policies have led to higher housing costs for many people.
The housing system was unintentionally designed this way by policymakers.
Changing these rules could help make housing more affordable.
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Texas Roadhouse is testing handheld tablets for servers to take orders directly at the table, aiming to make ordering faster and more accurate. The company is slowly considering expanding this technology across its U.S. restaurants while keeping the casual dining atmosphere.
Key Facts
Texas Roadhouse CEO Jerry Morgan announced a pilot program using handheld tablets for servers in select locations.
The tablets let servers enter orders at the table instead of walking to a central computer.
Using tablets could speed up order delivery to the kitchen and reduce mistakes.
Early feedback from customers and staff has been mostly positive.
The company is also using kitchen display systems and table-based payment options to improve operations.
Servers can choose to use the tablets or stick with traditional methods during the trial.
No firm date has been set for a full rollout across all restaurants.
Texas Roadhouse wants to keep its relaxed dining feel while improving behind-the-scenes efficiency.
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A new tax plan in New York City, including a tax on expensive second homes, has encouraged wealthy New Yorkers to consider moving to or renting luxury properties in Florida. Real estate developers in Florida see growing demand from New Yorkers seeking a lower-tax and more business-friendly environment.
Key Facts
New York City plans to introduce a pied-à-terre tax on second homes worth $5 million or more.
The tax is part of Mayor Mamdani’s agenda to raise income and corporate taxes on the wealthy.
Governor Kathy Hochul agreed to the pied-à-terre tax as part of a compromise amid concerns about rich residents leaving.
Florida luxury rental properties, like Avara Miami Beach, are seeing increased interest from New Yorkers.
Billionaire Ken Griffin supports the view that New York’s tax changes will drive wealthy people to Florida.
The pied-à-terre tax still needs approval as part of the New York state budget.
The Australian government will add $387.4 million in funding to the national science agency CSIRO over four years to support upgrades, research, and ongoing costs. This funding increase follows job cuts and cost-saving measures, aiming to stabilize the workforce and improve the agency's capacity for important science work.
Key Facts
The Albanese government will provide an extra $387.4 million to CSIRO over four years.
The funding will help upgrade facilities and technology and support research.
This is in addition to CSIRO’s current $1 billion yearly funding.
The extra money is not expected to undo recent job cuts but should help prevent more layoffs.
CSIRO’s funding compared to Australia’s GDP has been falling, reaching its lowest point since 1978.
ACT senator David Pocock led a petition signed by tens of thousands demanding better funding for CSIRO.
The government also announced $38 million more yearly funding for the Australian Centre for Disease Preparedness starting 2030-31.
Finance Minister Katy Gallagher said the funding will help CSIRO deliver science that benefits Australians daily.
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General Motors agreed to pay $12.75 million to settle claims that it sold location and driving data of hundreds of thousands of California drivers without their consent. California officials also restricted GM’s use of this data and banned it from selling such data to brokers for five years.
Key Facts
GM sold location and driving data of many California drivers to two data broker companies.
This data included exact locations, names, contacts, and driving habits collected through GM’s OnStar system.
The state’s investigation began in 2023 and included multiple California district attorneys and privacy officials.
California is imposing civil penalties and a five-year ban on GM selling driving data to brokers.
GM earned about $20 million from selling this data between 2020 and 2024.
GM’s privacy policy had stated it would not sell such data, but the company did so without driver consent.
California insurers cannot use this driving data to raise insurance rates.
GM has not publicly responded to the settlement news.
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Travel to the Middle East is disrupted by the war in Iran, leading to higher flight prices and some UK travelers choosing holidays within the country. Booking sites Booking.com and Airbnb report more people searching for UK holiday options, with popular lesser-known destinations gaining attention.
Key Facts
The war in Iran has made travel to the Middle East difficult and expensive.
UK Prime Minister Sir Keir Starmer said some people may change their holiday plans this year.
Booking.com saw a 20% rise in searches for UK holidays during May half-term compared to last year.
Airbnb also reported a 15% increase in UK stay searches for the May bank holidays.
Influencers and travelers highlight places like the Isle of Wight, Alton, Hastings, Folkestone, and Northumberland as attractive holiday spots.
The Isle of Wight is accessible mainly by ferry and hovercraft services.
The UK Foreign Office advises against non-essential travel to the UAE, affecting some holiday plans abroad.
Some travelers who canceled trips abroad are opting for UK destinations offering a mix of beaches, nature, and cultural sites.
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The U.S. Bureau of Labor Statistics released the jobs report for April, showing better results than expected. The report indicates improvement in the economy based on job growth and other employment measures.
Key Facts
The jobs report was released by the Bureau of Labor Statistics on Friday.
April's job numbers were stronger than experts had predicted.
The report provides information about employment growth.
Job growth is an important indicator of the health of the economy.
CBS News correspondent Kelly O'Grady explained the report details.
The information was shared through CBS News platforms, including their app.
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Hojicha is a Japanese green tea that is gaining popularity in the UK, appearing on more café menus mainly as lattes and desserts. Its sales are growing quickly, similar to how matcha tea became popular a few years ago, while matcha itself continues to have a strong and growing market.
Key Facts
Hojicha is made by roasting green tea leaves at high temperatures, giving it a nutty flavor and low bitterness.
It has less caffeine than regular green tea and is traditionally served plain without milk or sugar.
UK cafés are adding hojicha lattes, desserts, and ice cream to their menus, increasing its presence.
Sales of iced hojicha lattes at Jenki cafés in London rose by 55% from January to April compared to the previous year.
The company How Matcha reports hojicha latte sales have grown significantly and now represent about 20% of its matcha latte sales.
Matcha tea remains very popular in the UK, with supermarket sales growing over four times in one year, reaching nearly £9 million.
Some consumers feel matcha drinks in cafés often have too many added flavors, reducing the taste of the tea itself.
Hojicha is seen as moving from a niche drink to a more mainstream choice, similar to earlier matcha trends.
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Bank of America now expects the Federal Reserve to wait until the second half of 2027 before cutting interest rates because inflation remains high and the job market is strong. Other economic factors, such as energy prices and the impact of artificial intelligence (AI), are making the Fed cautious about lowering borrowing costs soon.
Key Facts
Bank of America changed its forecast and no longer expects interest rate cuts in 2024.
The Fed faces high inflation at 3.3%, above its 2% target.
Strong job growth was reported with 115,000 new jobs added in April, more than expected.
Some Federal Reserve officials want to avoid cutting rates to prevent the economy from overheating.
Inflation has risen partly because of higher energy costs linked to the Iran war.
AI-driven productivity gains and tariffs are adding inflationary pressure.
Market tools show less than a 50% chance of rate cuts before the second half of 2027.
The last Fed rate cut was in December 2025, lowering rates slightly.
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A U.S. trade court ruled that a 10% global tariff imposed by President Trump under a specific law was unlawful and harmful to businesses. This court decision limits the White House’s ability to impose these tariffs, but most businesses still have to pay the tariff while the administration considers its next steps.
Key Facts
The Court of International Trade ruled against tariffs imposed under Section 122 of the Trade Act of 1974.
The tariffs were a 10% duty on imports, introduced by President Trump in February.
The court found the tariffs unlawful and damaging to businesses, based on a lawsuit from 24 states and companies.
This ruling is narrow and only directly affects some plaintiffs, not all businesses.
Businesses must continue paying the 10% tariff for now, as the ruling does not change the tariff rate immediately.
The Trump administration plans to appeal the court decision.
Importers may track tariffs paid to claim refunds if the ruling expands or changes.
The 10% tariff under Section 122 was meant to be temporary, lasting 150 days, and the administration is using other trade laws to investigate unfair trade practices.
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Mortgage interest rates have changed a lot in early 2026, making it important to pick the right mortgage lender. Different lenders, like banks, credit unions, and online companies, offer various benefits depending on personal finances. The article lists top mortgage lenders, highlighting their strengths and who they best serve.
Key Facts
Mortgage rates dropped below 6% in March, then rose above 6% after the Federal Reserve meeting in April 2026.
Choosing the right lender can save or cost tens of thousands of dollars over a mortgage’s lifetime.
Banks might give discounts to loyal customers; credit unions pass savings to members; digital lenders offer fast service with less overhead.
Rocket Mortgage is noted for easy online processing but may charge higher interest rates.
Guild Mortgage helps self-employed or non-traditional income borrowers with flexible loan options.
Other lenders listed include PenFed Credit Union for competitive rates, loanDepot for lower credit scores, and Better Mortgage for budget-conscious borrowers.
Mortgage lenders offer various loan types such as conventional, jumbo, FHA, VA, and USDA loans.
Understanding your financial situation helps decide which lender and loan terms fit best.
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The IRS requires people with tax-deferred retirement accounts like 401(k)s or traditional IRAs to start withdrawing a certain minimum amount each year after age 73. The required amount depends on their account balance and life expectancy, and it generally increases with age.
Key Facts
Required minimum distributions (RMDs) must begin at age 73 for most tax-deferred retirement accounts.
The RMD is calculated by dividing the account balance by a life expectancy factor from the IRS Uniform Lifetime Table.
For a $300,000 account, the RMDs start at about $11,320 at age 73 and increase to about $14,218 by age 79.
The life expectancy factor decreases as you get older, so the amount you must withdraw goes up.
You must pay taxes on the money you withdraw through RMDs.
Diversifying your retirement portfolio can help manage risks, with gold suggested as one option because it historically holds value during inflation.
Gold should be a small part of your portfolio, typically no more than 10%.
Various types of gold investments are available, including bullion, stocks, and gold IRAs.
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Star Wars actor Mark Hamill shared and then deleted an AI-generated image showing President Donald Trump in a shallow grave. The White House condemned Hamill’s post, and the incident has caused controversy around Disney, which owns the Star Wars franchise, just weeks before the release of a new Star Wars movie.
Key Facts
Mark Hamill posted an AI image showing President Trump in a shallow grave with the message “if only.”
Hamill later deleted the image and apologized, saying he wished Trump the opposite of dead.
The White House called Hamill “one sick individual” and criticized the post publicly.
Conservative activists have used the incident to criticize Hollywood and called for a boycott of Disney’s upcoming Star Wars release.
Hamill is not in the new Star Wars film but is closely linked to the franchise because of his long history with the character Luke Skywalker.
The new Star Wars movie, The Mandalorian and Grogu, will open on May 22, its first theatrical release since 2019.
Industry experts predict the film may have the lowest domestic opening weekend for a new live-action Star Wars movie.
Disney is facing repeated controversies that affect how audiences view its movies and brand.
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Large U.S. companies, including Amazon, are choosing not to ask for refunds on tariffs they paid by mistake. They appear worried that claiming the refunds might upset President Donald Trump and lead to bigger financial losses.
Key Facts
Some big U.S. companies were charged tariffs by mistake.
These companies can ask for refunds of the wrongfully collected money.
Amazon is one of the companies not claiming its refund.
Companies fear that seeking refunds might anger President Donald Trump.
They think staying quiet could save them more money than the refunds.
This shows how companies are cautious about government relations in business.
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The UK government will take back control of the train operator Great Western Railway (GWR) on December 13. This change means the railway will be publicly owned and managed by the new Great British Railways organization, focusing on passengers rather than shareholders.
Key Facts
Great Western Railway runs trains between London, the south-west of England, and South Wales.
GWR will return to public ownership on December 13.
The government says this will put passengers first instead of shareholders.
The new operator will be part of Great British Railways.
Other train services in Wales and Scotland are already publicly owned.
GWR has operated in the south-west since 1833.
The announcement was welcomed by local leaders who want more frequent trains.
The Transport Secretary said fares might not drop, but services and infrastructure should improve.
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This article compares how much interest a $100,000 deposit can earn in three types of accounts: certificates of deposit (CDs), high-yield savings accounts, and money market accounts. It explains that CDs offer a fixed interest rate and generally give the highest guaranteed return right now, while the other accounts have variable rates that can change over time.
Key Facts
A $100,000 investment can be placed in different accounts to earn interest safely.
CDs have fixed interest rates that do not change until the account matures.
High-yield savings and money market accounts have variable rates that can go up or down.
Current top rates are about 4.10% for CDs, 4.03% for high-yield savings, and 3.90% for money market accounts.
For six months, a CD at 4.10% earns about $2,029 in interest compared to $1,995 in savings and $1,931 in money market accounts.
For one year, a CD at 4.10% earns about $4,100, more than the savings or money market accounts.
CDs charge penalties if money is withdrawn before maturity, so savers should be confident they won’t need the funds early.
Variable rate accounts might be better if interest rates increase in the future, since their rates can rise.
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UK government borrowing costs went down and the British pound rose after Keir Starmer said he will stay on as prime minister. Investors felt less worried about political instability because Labour’s losses in recent local elections were smaller than expected.
Key Facts
UK borrowing costs (interest rates on government bonds) fell after Starmer’s statement.
The yield on 10-year UK government bonds dropped to 4.89%, down 0.05 percentage points.
Thirty-year bond yields also decreased to 5.56%, their lowest in over two weeks.
The British pound increased in value against the US dollar and the euro.
Markets had feared a leadership challenge to Starmer could increase government spending and borrowing.
Investors worried that a new leader might raise taxes and borrow more to pay for spending.
Analysts say any new leader would face the same economic challenges due to current fiscal limits.
Experts believe removing Starmer and Chancellor Rachel Reeves could lead to higher interest rates and borrowing costs.
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Several well-known actors from past decades are joining OnlyFans, a subscription website often used for adult content. This shift shows how some actors face fewer job chances in traditional media and are turning to platforms where they control their work and earnings.
Key Facts
Jaime Pressly and Shannon Elizabeth, actresses popular in the 1990s and 2000s, have started OnlyFans accounts.
OnlyFans allows creators to share content directly with fans, without relying on traditional industry gatekeepers like studios and casting agents.
The entertainment industry has changed from TV and magazine deals to streaming and online subscriptions, reducing steady roles for some actors.
OnlyFans appeals to these actors by giving them control over when and how much they work and what content they share.
Other celebrities who joined OnlyFans include Denise Richards, Drea de Matteo, Carmen Electra, and Bella Thorne.
The platform provides a new way for female performers, often valued for youth and beauty in Hollywood and then overlooked, to keep earning and connect with audiences.
Experts say OnlyFans shifts control from the industry to the creators, allowing them to manage their public image and income directly.
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