A U.S. trade court ruled that President Trump's latest 10% tariffs are illegal because the law does not give him unlimited power to impose them. However, the tariffs will likely stay while the administration appeals and may be replaced by new tariffs before they expire in July.
Key Facts
The Court of International Trade said President Trump’s use of a 1974 trade law to impose 10% tariffs was not allowed.
These tariffs were created after the Supreme Court struck down earlier tariffs in February.
The law allows temporary tariffs up to 15% for up to 150 days to fix serious balance-of-payments problems.
The court said the president cannot decide too broadly what counts as a balance-of-payments deficit to impose tariffs anytime.
Small businesses challenged the tariffs, arguing they harm their operations.
Most state attorneys general were dismissed from the case because their harm was too indirect.
The administration plans to appeal the ruling and may use other trade tools (Section 301 investigations).
The current tariffs expire in July, but new tariffs might be put in place before then.
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Brigid Washington wrote a memoir called "Salt, Sweat & Steam" that tells the story of her unexpected path into cooking. The book focuses on her experiences with loss, uncertainty, and finding her identity through food.
Key Facts
The memoir is titled "Salt, Sweat & Steam."
Brigid Washington shares her journey to becoming a chef.
Her story includes themes of loss and uncertainty.
The book explores questions about her identity.
Food is shown as a way to survive and express culture.
Geoff Bennett interviewed Washington about her book.
The conversation was part of a series called CANVAS focused on arts and culture.
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President Donald Trump said the European Union (EU) must approve a trade deal with the US by July 4 or face higher taxes on their goods. The EU and US agreed last year to reduce tariffs on many products, but the deal still needs final approval from EU member states.
Key Facts
President Trump gave the EU a deadline of July 4 to ratify the trade deal.
If the EU misses this deadline, Trump threatens to raise tariffs on EU goods, especially cars and trucks, to 25%.
The trade deal was announced last July and sets tariffs on most European goods at 15%.
The EU has made some progress but has not completed the approval process for the deal.
The US Supreme Court ruled in February that Trump exceeded his authority on some tariffs, leading to temporary 10% duties instead.
The EU parliament approved the deal in March but added conditions requiring further talks with EU member states.
Cyprus currently holds the rotating presidency of the EU and supports continuing talks to approve the deal.
President Trump insists the EU promised to lower tariffs to zero as part of the “largest trade deal ever” agreed in Scotland last year.
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Travel costs have risen sharply for fans attending the Champions League final in Budapest on May 30. This increase comes as many fans of Paris Saint Germain and Arsenal rush to book flights and hotels.
Key Facts
The Champions League final will take place in Budapest on May 30, 2026.
Fans of Paris Saint Germain and Arsenal are trying to book trips to the final.
Demand for flights and accommodation has increased quickly.
This high demand has caused travel prices to rise significantly.
The article also mentions FIFA defending high ticket prices for the upcoming World Cup.
Japan’s stock market index, Nikkei, recently hit record highs due to strong tech spending.
The focus of the article is on travel and economic effects related to a major sports event.
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GameStop CEO Ryan Cohen is selling various items on eBay, including vintage games and merchandise, to help fund GameStop’s proposed $55.5 billion bid to buy eBay. Cohen’s bid and plans to transform eBay into a large competitor to Amazon have led to mixed reactions, including a drop in GameStop’s stock price.
Key Facts
Ryan Cohen, GameStop’s CEO, posted items for sale on eBay to raise money for acquiring eBay.
Cohen’s eBay account was briefly suspended but later reinstated, allowing bidding to continue.
Items for sale include GameStop signs, merchandise, vintage games, and a $14,000 pair of socks.
GameStop offered $55.5 billion to buy eBay, proposing half cash and half stock in the deal.
GameStop owns 5% of eBay’s shares currently.
Cohen wants to grow eBay into a company worth hundreds of billions and a competitor to Amazon.
GameStop’s stock price dropped 10% after Cohen avoided detailed questions about financing the deal.
Investor Michael Burry sold his GameStop shares, criticizing the company’s financial strategy.
eBay is reviewing the offer with financial and legal advisors and has not commented publicly.
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Blue Cross Blue Shield is paying nearly $2 billion to people and businesses after a lawsuit said it limited competition and raised insurance costs. Payments will go to those who filed claims on time for coverage between 2008 and 2020, with distributions starting soon.
Key Facts
The settlement is worth about $2.7 billion total, with $2 billion for eligible claimants.
It comes from a lawsuit accusing Blue Cross Blue Shield of reducing competition among its insurers.
The company denied wrongdoing but agreed to settle to avoid ongoing legal costs.
About 115 million Americans have had Blue Cross Blue Shield coverage in recent years.
Only those who filed claims by November 5, 2021, qualify for payment.
Eligible claimants had insurance between February 7, 2008, and October 16, 2020.
Payments will be sent soon to those whose claims were approved; most do not need to take further action now.
The case may lead to changes in how health insurers set prices and compete in the future.
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If you have $60,000 to save, you can choose between a certificate of deposit (CD), a high-yield savings account, or a money market account to earn interest. Right now, CDs offer the highest guaranteed interest rates compared to the other two options, but they require you to keep the money locked in for a set time.
Key Facts
A CD has a fixed interest rate, meaning the rate stays the same until the CD matures.
High-yield savings and money market accounts have variable rates that can change over time.
Current rates are approximately 4% or higher for CDs and high-yield savings accounts; money market accounts offer slightly lower rates around 3.9%.
A 6-month CD at 4.10% can earn about $1,218 in interest on $60,000.
A 1-year CD at 4.10% can earn about $2,460 in interest on $60,000.
Savings and money market accounts offer easier access to your money but usually pay slightly less interest.
The Federal Reserve has paused interest rate changes for the near future, making current rates more predictable.
Splitting funds between these accounts can balance the benefits of flexibility and higher returns.
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Morrisons supermarket in Cwmbran, Wales, was fined £750,000 after an inspection found many hygiene problems in its bakery. The bakery was closed for cleaning and Morrisons said it acted quickly to fix the issues.
Key Facts
Morrisons was fined £737,000, reduced from £1.1 million due to an early guilty plea.
The store also had to pay £11,221 in legal costs and a £2,000 victim surcharge.
A routine inspection in August 2024 found 51 food safety violations at the bakery.
Issues included poor cleanliness, dirty equipment, lack of staff oversight, and failures in food safety management.
The bakery was immediately shut down for deep cleaning after the problems were found.
The judge described the problems as serious and systemic, not caused by a few workers.
Morrisons acknowledged the bakery was below expected standards but called it a local issue that was fixed quickly.
Torfaen council said they will take formal action to protect consumer health when needed.
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Mortgage interest rates have been rising recently due to inflation and global events, even though the Federal Reserve plans to keep rates steady through 2026. Borrowers thinking about buying a home or refinancing might want to lock in their mortgage rate before the next inflation report on May 12, since a higher inflation reading could push rates up again.
Key Facts
Mortgage interest rates increased from 6.12% to 6.37% between early April and early May.
Inflation affects mortgage rates significantly; higher inflation usually leads to higher mortgage rates.
Locking a mortgage rate means securing the current rate for a set time, protecting against future increases.
Borrowers can budget better with a locked rate since their monthly payment will be clear.
Some lenders allow borrowers to reduce (float down) their locked rate if rates drop before closing, usually for a fee.
Refinancing later is possible if mortgage rates become lower in the future.
The next inflation report will be released on May 12 by the Bureau of Labor Statistics.
Rate locks can help borrowers avoid paying more if inflation causes rates to rise after the report.
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This article explains the benefits of reverse mortgages for homeowners aged 62 and older, especially in the current economy with high interest rates. It highlights three main advantages for seniors considering a reverse mortgage in May, including protection from rising rates, access to large home equity, and avoiding costly cash-out refinancing.
Key Facts
Reverse mortgages are only available to homeowners aged 62 or older.
They allow seniors to borrow against their home equity without monthly payments; repayment is made when the home is sold or the owner passes away.
Unlike home equity loans or lines of credit, reverse mortgages have no variable interest rates, so monthly costs do not increase with market changes.
The U.S. currently has record-high home equity amounts available for borrowing.
Seniors can use reverse mortgages to pay off existing mortgages or reduce credit card debt.
Cash-out refinancing is less attractive now because interest rates are higher than earlier in the year, making reverse mortgages a better option to pay off current loans.
With reverse mortgages, the existing mortgage is often fully paid off, eliminating future loan payments.
Using a reverse mortgage reduces the home’s value for heirs, but can improve financial security for the homeowner.
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Georgia is issuing one-time payments up to $500 to millions of residents from its state budget surplus this May. The payments are automatic refunds based on tax filings and are meant to help with everyday expenses.
Key Facts
Payments start this month and come from Georgia’s budget surplus.
The refunds are authorized under House Bill 1000 and are the fourth time Georgia has issued such payments under Governor Brian Kemp.
Amounts vary by filing status: up to $250 for singles, $375 for heads of household, and $500 for married couples filing jointly.
Payments cannot exceed the amount of state income tax owed for 2024; lower tax liability means a smaller or no refund.
To qualify, taxpayers must have filed 2024 and 2025 Georgia state tax returns on time or with extension and have a tax liability.
Residents include full-year, part-year, or qualifying nonresidents with Georgia income.
No separate application is needed; eligible taxpayers receive payments automatically.
Past due debts to the state or child support can reduce or eliminate the refund amount.
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The article reviews different home pizza-making tools ranging in price from $129 to $2,800. It explains what each type of pizza maker offers and which ones deliver the best value depending on your needs and budget.
Key Facts
Budget pizza makers like the $129 Baking Steel offer durable, heat-conductive surfaces that give crisp crusts but take longer to preheat.
Mid-range pizza makers such as the $699 Ooni Volt 2 electric oven heat up quickly and can reach higher temperatures to cook pizza faster and more like a restaurant.
High-end models, like the $2,800 Gozney Dome XL, are outdoor ovens fueled by propane or wood, reaching very high temperatures and cooking multiple pizzas at once.
Pizza steels can be used for baking bread and other foods besides pizza.
Electric ovens allow precise temperature control for cooking various foods, including cookies and vegetables.
Outdoor pizza ovens can also cook meats and roasted dishes while providing a more authentic pizza experience.
The author has professional experience testing kitchen gear and worked in his family’s pizzeria as a child.
Each price level has trade-offs between cost, convenience, and cooking performance.
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Whirlpool warned that the war in Iran and economic worries are causing Americans to delay buying big appliances. The company reported a nearly 10% drop in revenue and is raising prices to manage rising costs. Whirlpool also lowered its yearly profit expectations and paused its dividend payments.
Key Facts
Whirlpool makes brands like KitchenAid and Maytag and produces most appliances in the U.S.
Sales of major appliances in North America dropped over 7%, causing revenue to fall nearly 10% in the latest quarter.
The war in Iran led to a sharp drop in consumer confidence and spending on large items.
Whirlpool raised prices by 10% in April and will increase prices by another 4% in July to cover higher costs.
The company lost $82 million in the first quarter this year after previously making gains.
The U.S. Supreme Court struck down emergency tariffs that affected Whirlpool and its competitors, causing market disruption.
Consumers are avoiding expensive appliance purchases due to concerns about grocery and gas prices.
Whirlpool lowered its full-year earnings forecast and suspended its dividend to focus on reducing debt.
Whirlpool's stock price fell over 12% after the earnings report.
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The Ultimate Picture Palace (UPP), one of the UK’s oldest independent cinemas in Oxford, faces closure because its landlord, Oxford University’s Oriel College, refuses to extend its lease. Without a lease extension, the cinema cannot make needed renovations or access grants to improve its facilities and energy efficiency.
Key Facts
The UPP opened in 1911 and has 106 seats, using traditional ticket sales and manual screen curtains.
It recently became community-owned after over 1,200 supporters raised funds to keep it running.
Oriel College owns the building and lease, and declined to extend the lease beyond 2037.
The cinema’s costs have risen 25% in four years, putting it under financial pressure.
Grants for energy and accessibility improvements are available but require a lease extension.
Over 22,000 people signed a petition to save the cinema.
Oxford East MP Anneliese Dodds has raised the issue in parliament and is in discussions with Oriel College leadership.
Oriel’s provost Neil Mendoza also chairs Historic England, which supports preserving historic buildings in use.
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TV host Mike Rowe shared that electricians working in data centers earn very high salaries. These jobs pay well and do not require expensive college degrees.
Key Facts
Mike Rowe spoke about the salaries of data center electricians.
These electricians earn large amounts of money.
The jobs pay well during difficult economic times.
You don’t need a costly college degree to get these positions.
Data center electricians maintain important technology facilities.
Such jobs offer a good career path without heavy debt.
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If you are self-employed, creditors cannot take money directly from your wages like they do with regular employees. However, creditors who get a court judgment can use other methods, such as freezing your bank accounts or placing liens on your property, to collect debts. The rules for these actions vary depending on the state you live in.
Key Facts
Wage garnishment means a creditor takes money from your paycheck before you get it.
Self-employed people don’t have wages taken because they don’t have an employer to garnish.
Creditors can still collect debts after winning a court judgment.
They can freeze and take money from your bank accounts, especially if you mix business and personal accounts.
Creditors can place liens on your property, which can stop you from selling or refinancing until the debt is paid.
They may be able to take money owed to you from clients or customers.
State laws differ on what protections you have against these collection methods.
Negotiating a settlement with creditors can stop collection efforts even if it may hurt your credit score.
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This article explains when it might be better to settle a debt before or after a lawsuit is filed. It outlines the advantages and challenges of negotiating a repayment deal at different stages of debt collection.
Key Facts
Rising credit card debt and high interest rates are causing more people to fall behind on payments.
Creditors often start with calls and letters but may file a lawsuit to collect unpaid debt.
Settling before a lawsuit can save money on legal fees and keep court judgments off public records.
Early settlement may offer more flexible negotiations and less pressure.
Creditors might refuse to settle early if they believe they can get full payment in court.
Settling after a lawsuit is still possible, as legal actions are costly and time-consuming for creditors.
When deciding when to settle, factors include how much you owe, how late payments are, and your financial situation.
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Trader Joe's is releasing new small tote bags nationwide on May 20, 2026. These colorful, insulated totes are designed to keep food and drinks cool and follow current summer color trends. They come after earlier popular releases in 2024 and 2025, which sold out quickly and gained a strong following.
Key Facts
Trader Joe’s will launch six new mini insulated totes in bright colors for $3.99 each.
The totes measure about 10 x 6 x 6 inches and hold about 1.5 gallons.
Previous mini tote bags released in 2024 and 2025 were very popular and sold out fast.
The insulated totes have zipper tops and reinforced handles for easier carrying.
The new colors follow predicted summer 2026 trends like lime green, orange, blue, and purple.
The bags appeal especially to younger people and families for outdoor activities like beach or camping trips.
Trader Joe’s totes have a strong fan base and have been resold online at very high prices.
The bags’ popularity is partly driven by social media platforms like TikTok.
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Several European countries are reconsidering the use of nuclear power to address energy challenges caused by the war with Iran. Experts say nuclear energy is safe, produces low carbon emissions, and can help Europe become more energy independent.
Key Facts
The war with Iran has led many countries to rethink their energy strategies.
Sweden, Belgium, and Italy are easing previous limits on nuclear power use.
France and the UK are starting new nuclear power projects.
Nuclear energy does not produce carbon dioxide during electricity generation.
France has the technology, factories, and skilled workers to build and maintain nuclear plants independently.
The French Nuclear Energy Society highlights nuclear power's safety through strict industry controls and transparency.
China is investing in affordable nuclear reactors, becoming a major player in nuclear energy.
Nuclear power can help Europe reduce reliance on external energy sources and support sustainability goals.
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The average house price in Jersey has dropped by 5% over the past year, falling to about £569,000. The number of properties sold also decreased slightly by 1%, and the housing market remains below its peak from 2022.
Key Facts
Average house price in Jersey is now approximately £569,000, down from nearly £600,000 a year ago.
Property sales decreased by 1% since the start of 2025.
The number of properties sold in early 2025 was 10% lower than in the last quarter of 2025.
The House Price Index is 18% below its highest point recorded in the third quarter of 2022.
In the private rental sector, there was a net decrease of 19 rental units during the quarter.
Of the properties sold, 49 were previously part of the rental market, and 30 were bought to be rented out.
The report was published by Statistics Jersey.
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