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Major train operator to be renationalised in months

Major train operator to be renationalised in months

May 08, 2026 • BBC Top Stories

Summary

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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BBC Top Stories BBC Business
$100,000 CD vs. $100,000 high-yield savings account vs. $100,000 money market account: Here's which will earn more interest now

$100,000 CD vs. $100,000 high-yield savings account vs. $100,000 money market account: Here's which will earn more interest now

May 08, 2026 • CBS News

Summary

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  • CDs charge penalties if money is withdrawn before maturity, so savers should be confident they won’t need the funds early.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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CBS News
UK borrowing costs fall and pound rises as Starmer says he will remain as PM

UK borrowing costs fall and pound rises as Starmer says he will remain as PM

May 08, 2026 • Guardian World

Summary

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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Guardian World
OnlyFans Is Becoming Hollywood’s Retirement Plan

OnlyFans Is Becoming Hollywood’s Retirement Plan

May 08, 2026 • Newsweek

Summary

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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Newsweek
Map Shows Where America’s Home Insurance Crisis Is Hitting Hardest

Map Shows Where America’s Home Insurance Crisis Is Hitting Hardest

May 08, 2026 • Newsweek

Summary

Homeowners insurance costs in the U.S. rose 64% from 2021 to 2025, driven by more natural disasters and higher repair costs. States like Arizona, Idaho, and Louisiana saw the biggest increases, making it harder for many Americans to afford homeownership.

Key Facts

  • The average annual homeowners insurance premium grew from $1,597 in 2021 to $2,625 in 2025.
  • Arizona experienced the highest increase, with premiums growing 94% over five years.
  • Other states with large rises include Idaho (88%), Iowa (83%), South Dakota (83%), Utah (82%), Minnesota (82%), Washington (81%), Louisiana (80%), and Colorado (80%).
  • Even the smallest increase was significant; Alaska saw a 27% rise in premiums.
  • Louisiana had the highest average premium at $4,238 per year, followed by Florida ($4,060) and Texas ($3,952).
  • Experts predict premiums will rise another 4% to about $3,057 nationwide in 2024.
  • Rising premiums increase monthly mortgage costs and can force insurers to reduce coverage or cancel policies.
  • The Justice Department filed a brief supporting a case accusing insurers in California of canceling fire coverage to push customers onto a state-run insurance plan.
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Newsweek
Exclusive discounts from CBS Mornings Deals

Exclusive discounts from CBS Mornings Deals

May 08, 2026 • CBS News

Summary

CBS Mornings Deals offers special discounts on various products that could be useful in daily life. People can visit cbsdeals.com to find and buy these items while CBS earns a commission from the sales.

Key Facts

  • CBS Mornings Deals promotes exclusive discounts on different products.
  • The items are chosen to be helpful for everyday use.
  • Customers can access these deals at the website cbsdeals.com.
  • CBS earns money when people buy products through its deals website.
  • The promotion is part of CBS News and is visible in their app and website.
  • The article encourages viewers to take advantage of the current deals.
  • The promotion works through web browsers like Chrome and Safari.
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CBS News
Map Shows Cities Where Homeowners Are Paying Huge Premiums for New Builds

Map Shows Cities Where Homeowners Are Paying Huge Premiums for New Builds

May 08, 2026 • Newsweek

Summary

A study by Realtor.com shows that newly built homes in U.S. city centers are rare and cost much more than existing homes there. In some cities like Miami, the price difference can be more than four times higher for new urban homes compared to older ones.

Key Facts

  • New homes in urban areas are priced about 78% higher than existing urban homes nationwide.
  • Only about 10% of new homes for sale are in city ZIP codes; most new homes (around 80%) are in suburbs.
  • Miami metro area has the biggest price gap, with new urban homes costing 462% more than existing ones.
  • Other cities with high new-home price premiums include Tampa, Orlando, St. Louis, Detroit, Chicago, Cincinnati, New York, and Raleigh.
  • The shortage of new homes in cities is due to high demand and limited supply.
  • Stuart Miller, CEO of a major home builder, says years of underbuilding have created a housing shortage.
  • Some areas, like Cape Coral-Fort Myers, even have new homes priced lower than existing ones.
  • Overall, the data highlights a need for more new homes in urban locations to meet demand.
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Newsweek
The Fed may not look past the latest global supply shock

The Fed may not look past the latest global supply shock

May 08, 2026 • The Hill

Summary

Federal Reserve Chair Jerome Powell said that recent global supply problems have made it harder to reduce inflation. These shocks have slowed down progress in making prices more stable.

Key Facts

  • Jerome Powell is the leader of the Federal Reserve, the U.S. central bank.
  • He noted recent global supply disruptions have impacted inflation control.
  • Supply shocks mean sudden problems in getting goods or materials.
  • These problems have slowed efforts to lower rising prices.
  • Inflation is the general increase in prices of goods and services.
  • The Fed aims to keep inflation low and stable.
  • Global supply issues can come from events like the pandemic, conflicts, or natural disasters.
  • The statement highlights challenges in the U.S. economy related to worldwide events.
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The Hill
Mother's Day will cost you more this year

Mother's Day will cost you more this year

May 08, 2026 • CBS News

Summary

Prices for Mother's Day gifts and celebrations are higher this year. The increase may affect how people plan to celebrate and spend on gifts.

Key Facts

  • Mother's Day costs are rising in 2024.
  • Higher prices could impact gift purchases and celebrations.
  • Rising costs may lead to changes in how people celebrate the day.
  • Advice is available for mothers with different ideas about the holiday.
  • The information is shared by CBS News and contributor Caroline Chambers.
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CBS News
Housing market 'fragile due to global unrest'

Housing market 'fragile due to global unrest'

May 08, 2026 • BBC Business

Summary

The housing market in Jersey is showing signs of slowing down because of global uncertainty from the conflict in the Middle East. House prices have dropped, and people are rushing to get mortgage deals before expected interest rate increases by the Bank of England.

Key Facts

  • Average house prices in Jersey fell by 5% in the first quarter of 2026 compared to the same period in 2025.
  • The Middle East conflict has caused global uncertainty impacting Jersey’s housing market.
  • Mortgage applications increased from about 20 per month in 2025 to 50 per month at the start of 2026.
  • People are nervous about possible Bank of England base rate increases, which could rise by 1.5% later this year.
  • Mortgage approvals are taking longer, causing delays in home sales that typically take 6-8 weeks.
  • The average three-bedroom house in Jersey costs around £695,000, far above what most locals can afford.
  • Middle-income earners in Jersey have lost tax breaks and mortgage relief, making it harder to buy homes.
  • Experts suggest politicians should try to support the housing market to help the economy by encouraging more spending and property buying.
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BBC Business
What are today's mortgage interest rates: May 8, 2026?

What are today's mortgage interest rates: May 8, 2026?

May 08, 2026 • CBS News

Summary

Mortgage interest rates have increased since early 2026, with the average 30-year rate at 6.37% and the 15-year rate at 5.75% as of May 8, 2026. Rates for refinancing are also higher but may still benefit some homeowners looking to lower payments or shorten loan terms.

Key Facts

  • The average 30-year mortgage rate is 6.37% as of May 8, 2026.
  • The average 15-year mortgage rate is 5.75% as of the same date.
  • These rates are about half a percentage point higher than in early March 2026.
  • The average 30-year mortgage refinance rate is 6.60%.
  • The median refinance rate for a 15-year term is 5.67%.
  • Rates briefly dropped below 6% in April before rising again after a Federal Reserve meeting.
  • Potential changes in inflation data may affect mortgage rates later in May.
  • Refinancing can be beneficial for some borrowers, especially if their current rates are above these averages, but closing costs and how long they plan to stay in the home matter.
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CBS News
Map Shows How Much Income You Need to Become a Homeowner

Map Shows How Much Income You Need to Become a Homeowner

May 08, 2026 • Newsweek

Summary

A study found that, on average, Americans need to earn about $120,000 per year to afford a home, which is much higher than the current median household income of $81,604. The research looked at 200 large metro areas and found large differences in affordability depending on location.

Key Facts

  • The average monthly cost of owning a home in the U.S. is around $2,819.
  • To afford this, an annual income of $120,796 is needed, assuming a 10% downpayment.
  • The national median household income is $81,604, which is almost 50% less than what is needed.
  • Affordability is measured by the 28/36 rule, meaning spending no more than 28% of gross income on housing.
  • Median incomes last fully matched homeownership costs nationwide in 2015.
  • The most affordable metro is Huntington, West Virginia, where $53,650 yearly income is needed.
  • The least affordable metros are mostly in California, with San Jose requiring over $500,000 annual income.
  • Other expensive metros include San Francisco, Los Angeles, and Honolulu, where incomes required far exceed the median household earnings.
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Newsweek
Soft armour, pert nipples: how London design team made Kim Kardashian’s Met Gala breastplate

Soft armour, pert nipples: how London design team made Kim Kardashian’s Met Gala breastplate

May 08, 2026 • Guardian World

Summary

Kim Kardashian wore a unique orange fibreglass breastplate to the Met Gala, created by a small London design team called Whitaker Malem in partnership with artist Allen Jones and visual artist Nadia Lee Cohen. The breastplate was made using a mould from Jones’s 1969 sculpture and finished by a car bodyshop in Kent.

Key Facts

  • Kim Kardashian chose to wear a breastplate for the Met Gala, interpreting the event’s “fashion is art” theme.
  • The breastplate was made by Whitaker Malem, a small East London design duo, with help from artist Allen Jones and Nadia Lee Cohen.
  • The design was based on a 1969 sculpture by Allen Jones called Hatstand, which was not originally meant to be wearable.
  • Kardashian directly contacted Whitaker Malem to make the breastplate and participated in video calls and fitting sessions.
  • The breastplate fit Kardashian well, which was unusual since the sculpture wasn’t designed for wearing.
  • The final orange finish was sprayed by Martyn Smith at MPS Body and Paint, a car bodyshop in Kent.
  • The project took place over a few weeks leading up to the Met Gala event.
  • Kardashian attended the event with Allen Jones, who is known for his controversial fetishistic art.
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Guardian World
Snack mixes sold in stores, including Target, recalled over salmonella worries

Snack mixes sold in stores, including Target, recalled over salmonella worries

May 08, 2026 • The Hill

Summary

Several snack mixes sold in stores like Target have been recalled because they may contain salmonella, a type of bacteria that can cause food poisoning. People who bought these snack mixes are advised not to eat them and should return them to the store for a refund.

Key Facts

  • Snack mixes sold at stores including Target are being recalled.
  • The recall is due to concerns about salmonella contamination.
  • Salmonella can cause food poisoning with symptoms like stomach pain, fever, and diarrhea.
  • Consumers who bought these products should avoid eating them.
  • Customers can return the recalled snack mixes to the store for a refund.
  • The recall is a safety measure to prevent illness.
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The Hill
The average cost of gas in the U.S. is $4.55 per gallon. Here's how it's impacting consumers.

The average cost of gas in the U.S. is $4.55 per gallon. Here's how it's impacting consumers.

May 08, 2026 • CBS News

Summary

The average price of gasoline in the United States has risen to $4.55 per gallon. This price increase is partly linked to the conflict involving Iran and is affecting how people spend their money.

Key Facts

  • Gasoline in the U.S. now costs about $4.55 per gallon on average.
  • Gas prices have increased by over 50% since the conflict with Iran started.
  • Higher gas prices lead consumers to change their spending habits.
  • The information comes from CBS News and business analyst Jill Schlesinger.
  • The rise in gas costs can impact overall household budgets and the economy.
  • The war with Iran is a key factor mentioned as causing the gas price increase.
  • CBS News provides updates and explanations about this issue through its app and online.
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CBS News
America's Top CEOs Raise Alarm About Iran War—'Recession'

America's Top CEOs Raise Alarm About Iran War—'Recession'

May 08, 2026 • Newsweek

Summary

Top U.S. CEOs warn that the war involving Iran is hurting the American economy and could lead to a recession. Companies like Whirlpool and big banks report falling sales and higher inflation linked to energy market disruptions caused by the conflict.

Key Facts

  • Whirlpool's sales dropped nearly 10% compared to last year, with North American sales down over 7%, described as a "recession-level" decline.
  • Whirlpool's CEO compared the current decline to the global financial crisis and other recessions.
  • CEOs from JPMorgan Chase and Chevron highlighted risks of rising inflation, higher interest rates, and oil supply shortages related to the war.
  • The closure of the Strait of Hormuz, a key oil passage, is disrupting oil supplies and forcing economies to slow down.
  • Some industries suffer more than others; luxury goods sales have slowed due to the conflict.
  • Some leaders, like BlackRock’s CEO, suggest the war's end could bring economic growth if Iran re-engages with the global community.
  • Despite challenges, JPMorgan’s CEO notes the U.S. economy shows signs of resilience with steady consumer spending and business activity.
  • The Trump administration believes economic effects from the war will be short-lived once the conflict ends.
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Newsweek
Iran war costs Toyota £3bn as prices of materials soar and sales fall

Iran war costs Toyota £3bn as prices of materials soar and sales fall

May 08, 2026 • Guardian World

Summary

Toyota reported a loss of £3 billion due to higher costs and lower sales linked to the war in Iran. The company said profits dropped in the financial year ending March 2027, mainly because of rising material costs and disruptions caused by the conflict in the Middle East.

Key Facts

  • Toyota’s profits fell to 3.8 trillion yen for the year to March 2027.
  • The war in Iran caused a 400 billion yen (£1.9bn) rise in material costs and a 270 billion yen loss from lower sales.
  • The company expects profits to decrease again in the next year, forecasting operating income of 3 trillion yen (£14bn).
  • Toyota faces extra costs for fuel, transportation, and parts like paint due to the conflict.
  • The closure of the strait of Hormuz has disrupted exports of raw materials used by Toyota and other manufacturers.
  • Toyota sells many hybrid cars, which combine petrol engines with batteries, but still sells fewer fully electric cars.
  • U.S. tariffs under President Donald Trump also cost Toyota 1.38 trillion yen.
  • Toyota’s global car sales rose by 2% last year, helped by growth in North America.
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Guardian World
Look Beyond Refunds: Tax Relief Bill Is Putting Americans To Work | Opinion

Look Beyond Refunds: Tax Relief Bill Is Putting Americans To Work | Opinion

May 08, 2026 • Newsweek

Summary

The 2025 Tax Relief Bill is helping millions of Americans keep more of their money through larger tax refunds and new deductions. The bill is also encouraging big companies to invest more in the U.S., creating tens of thousands of new jobs and supporting innovation.

Key Facts

  • Over 95 million Americans have received tax refunds totaling more than $312 billion this year, up 17.8% from last year.
  • More than 90% of tax filers used at least one new tax cut from the bill.
  • A study found companies plan to create over 37,000 new jobs due to the bill.
  • Seventeen companies announced 23 investments totaling over $2.1 billion after the bill passed.
  • Honeywell is seeing increased business jet sales partly because of a tax rule allowing immediate deduction of new equipment costs.
  • Procter & Gamble is bringing 100 jobs to Iowa City by moving manufacturing back to the U.S.
  • Johnson & Johnson plans to invest $55 billion in U.S. manufacturing and research over four years, citing the tax bill as a key reason.
  • The bill removed a tax rule that discouraged U.S. research, leading companies like General Mills and IBM to invest in new research centers focused on advanced technology.
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Newsweek
Cashier fraudster jailed after being caught out by Facebook holiday photos

Cashier fraudster jailed after being caught out by Facebook holiday photos

May 08, 2026 • BBC Top Stories

Summary

Kelly Kershaw, a cashier at Nationwide Building Society in Caernarfon, was sentenced to 16 months in prison for stealing money from vulnerable customers. She forged signatures and withdrew cash without permission, funding expensive holidays shown on her Facebook posts.

Key Facts

  • Kelly Kershaw stole at least £8,605 from customers over 12 months.
  • Her victims included elderly people and a man with learning disabilities.
  • She worked at Nationwide in Caernarfon, Gwynedd.
  • Colleagues noticed her holiday photos on Facebook, which led to an internal investigation.
  • Kershaw admitted five counts of fraud.
  • She took money by logging larger withdrawals than requested and pocketing the difference.
  • Nationwide has reimbursed the victims.
  • A future court hearing will decide how much money Kershaw must pay back.
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BBC Top Stories
AI scamming ain’t brain surgery, but even neurosurgeons get fooled

AI scamming ain’t brain surgery, but even neurosurgeons get fooled

May 08, 2026 • The Hill

Summary

Americans lost over ten billion dollars to scams in 2023. Among these scams, fake job offers are becoming one of the fastest growing types.

Key Facts

  • Americans lost more than $10 billion to fraud in 2023.
  • Job scams are increasing quickly compared to other types of fraud.
  • Scammers use fake job offers to trick people.
  • Fraud causes significant financial harm to victims.
  • The rise in job scams shows criminals target those looking for work.
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The Hill