Federal Reserve Chairman Kevin Warsh testified before Congress as new data showed prices producers receive fell in June. This report, combined with earlier consumer price data, makes a rise in interest rates at the Fed's next meeting less likely.
Key Facts
The Producer Price Index (PPI) fell by 0.3% in June, showing lower prices for goods at the production level.
The core PPI, which excludes food, energy, and trade services, rose slightly by 0.1%.
Consumer Price Index (CPI) data released earlier also indicated slowing inflation.
Markets now see little chance of interest rate increases for the rest of the year.
Chairman Warsh said no immediate policy changes are planned but noted discussions will continue about how and when to act.
He warned that inflation measurements are imperfect and a Fed task force will study how to improve data methods.
Warsh emphasized the Fed still aims to maintain price stability but gave no clear signal of upcoming moves.
His comments suggest the central bank is cautious and waiting on further data before deciding.
Read the Original
Want the full story? Tap a source to open the original
article.
A Nationwide customer, James Sherwin-Smith, tried to join the building society’s board but did not get enough votes. He received about 12.5% of votes, which was below the 50% needed. Sherwin-Smith plans to continue campaigning to change how Nationwide is run and stand for election again in 2027.
Key Facts
James Sherwin-Smith got 12.5% of the vote at Nationwide’s annual meeting.
He needed at least 50% of the vote to join the board but failed.
The board said he lacked the experience needed for the job.
The board recommended members vote against him using a "quick vote" system.
Sherwin-Smith plans to run again in 2027 and wants to encourage others to run too.
He aims to change Nationwide’s rules, including ending the quick vote and allowing more member-nominated directors.
Nationwide is a building society owned by its members but hasn’t had a member on the board since 2002.
The AGM also included approval of a large pay increase for the chief executive to £4.7 million.
Read the Original
Want the full story? Tap a source to open the original
article.
The UK government plans to ban unlicensed casinos from sponsoring sports teams starting as early as August 2027. This move aims to protect people from gambling risks and stop illegal money use in sports, affecting football clubs like Everton and sports such as Formula One.
Key Facts
The ban targets unlicensed gambling companies sponsoring sports teams in the UK.
Sponsorships could include logos on team kits, stadiums, and pitch-side signs.
Current rules allow sponsorship from unlicensed firms if they don't accept UK bets, but this will change.
The ban could become a criminal offense if sponsorship deals continue after the new law.
Everton FC has a £10 million deal with Stake.com, a crypto casino without a UK license.
The ban will start no later than August 2028, with possible enforcement from August 2027.
Other clubs like Chelsea, Ipswich, and Fulham also have deals with unlicensed gambling firms.
The proposal excludes online partnerships for now but may consider further laws later.
Read the Original
Want the full story? Tap a source to open the original
article.
Unreleased recordings from 1965 by David Bowie, made early in his career when he was known as Davy Jones, will be released in a new compilation on September 18. Some songs feature guitarist Jimmy Page, who later joined Led Zeppelin, and the recordings were produced by Shel Talmy, a notable 1960s rock producer.
Key Facts
The recordings date back to 1965, before Bowie became famous with "Space Oddity" in 1969.
Bowie used the name Davy (or Davie) Jones before changing it in 1966 to avoid confusion with another musician.
Some songs include support from the bands the Lower Third and the Manish Boys.
Jimmy Page, later of Led Zeppelin, played guitar on some tracks as a session musician.
Producer Shel Talmy handled the sessions; he also worked with the Kinks and the Who.
The new compilation is called *David Bowie: The Shel Talmy Recordings*.
One song, "I Want Your Love," is already available and shows a bluesy rock style.
Bowie revisited some early songs in 2000 for an album called *Toy*, which was released posthumously in 2021.
Read the Original
Want the full story? Tap a source to open the original
article.
A $250,000 deposit in a 1-year certificate of deposit (CD) or high-yield savings account can earn about $10,250 to $10,375 in interest at current rates around 4.10% to 4.15%. CDs offer fixed rates and guaranteed returns, while savings accounts offer variable rates with easy access to funds.
Key Facts
Current top 1-year CD rates range from about 4.11% to 4.15% annual percentage yield (APY).
A $250,000 deposit in a CD at 4.11% APY earns $10,275 in interest after one year.
At 4.15% APY, the same deposit would earn $10,375 in interest.
A high-yield savings account paying 4.10% APY would earn about $10,250 on $250,000 in one year.
CD interest rates are fixed for the term, providing predictable earnings.
Savings account rates can change with market conditions, which may raise or lower earnings.
CDs generally restrict access to funds without penalties until maturity, unlike savings accounts.
Because of small differences in rates, shopping around can increase earnings on large deposits.
Read the Original
Want the full story? Tap a source to open the original
article.
James Watt, co-founder of Brewdog, has made an offer to buy back the company after it was sold to the US firm Tilray earlier in 2024. Brewdog previously faced financial collapse, losing hundreds of jobs, and now Watt hopes to restore value for former investors through his proposed takeover.
Key Facts
Brewdog was once worth more than $1 billion and owned four breweries plus about 100 pubs worldwide.
The company collapsed owing over £500 million in debts, leading to hundreds of job losses.
Brewdog was sold to US company Tilray, which also operates in beverage and medical cannabis sectors.
James Watt stepped down as Brewdog CEO in 2024 and took a new role as "captain and co-founder."
Watt and co-founder Martin Dickie sold shares to US private equity fund TSG in 2017, each earning £50 million.
Watt launched a new beer brand, Second Best, offering shares to those who lost money in Brewdog’s "Equity for Punks" investment scheme.
Watt promises that if his buyback succeeds, former investors who joined Second Best will regain their original ownership shares for free.
Brewdog faced criticism and controversy over workplace culture, marketing, and treatment of staff and investors.
Read the Original
Want the full story? Tap a source to open the original
article.
Prime Minister Anthony Albanese announced new national rules for large datacentres in Australia, requiring them to secure new power supplies, pay their share for grid connections, and add energy back to the grid. Environmental and community groups want a pause on new datacentre developments until these regulations are fully in place.
Key Facts
Albanese aims to create legal requirements for datacentres to support new power and energy on the grid.
Current datacentre regulation in Australia is fragmented across federal, state, and local governments.
New national standards must be agreed upon by all state and territory energy and climate ministers before adoption.
Queensland is currently the only state not supporting the proposed national standards.
The Climate Council warns rapid datacentre growth could increase energy prices and climate pollution if unchecked.
Data Centres Australia’s CEO agrees with the need for regulations but highlights challenges in using 100% renewable energy immediately.
Community groups call for a moratorium on new datacentre approvals until the national regulatory framework is established.
Some communities, like Lane Cove in Sydney, are concerned about datacentres taking up large shares of industrial land.
Read the Original
Want the full story? Tap a source to open the original
article.
Stores are starting to sell Halloween decorations and items much earlier than before, with some showing their spooky products as early as July. ABC News gave a sneak peek of one retailer's Halloween collection for 2026.
Key Facts
Retailers are introducing Halloween merchandise months earlier than usual.
Some stores start showing Halloween items as early as mid-July.
The spooky items include things like "Skelly," a themed decoration.
ABC News reporter Sam Champion got an exclusive look at one store’s Halloween collection for 2026.
This early release aims to attract shoppers sooner in the year.
Halloween products are becoming a larger part of early seasonal sales strategies.
The trend reflects how retailers try to boost sales by appealing to customers earlier.
Read the Original
Want the full story? Tap a source to open the original
article.
Smart thermostats can help reduce electric bills during heat waves by cutting unnecessary air conditioning use, but savings vary. Most studies show people save about 10% to 15% on cooling costs, which can mean $15 to $22.50 saved in a month with high air conditioning use.
Key Facts
Heat waves are causing air conditioners to run almost continuously, raising electric bills.
Smart thermostats aim to make cooling more efficient by reducing wasted use.
Manufacturers claim savings of 8% to 26%, but independent studies find average savings closer to 10% to 15%.
If half a $300 electric bill is from cooling, a 10% to 15% cut saves about $15 to $22.50 per month.
Smart thermostats save money mainly by turning off or lowering cooling when no one is home or when people sleep.
Larger savings occur if people previously kept the thermostat at the same setting all day.
Smart thermostats cost between $100 and $300 before installation.
Some homeowners can install the devices themselves, while others may need professional help, adding to the cost.
Read the Original
Want the full story? Tap a source to open the original
article.
New rules started on July 15, 2026, for Buy Now Pay Later (BNPL) services like Klarna and Clearpay. These rules require companies to check if customers can afford payments, aiming to protect shoppers but also leading to more rejected applications.
Key Facts
New regulations for BNPL began on July 15, 2026.
Shoppers must now pass affordability checks before using BNPL.
BNPL allows people to pay for items over several months without interest.
Last year, there were about 100 million BNPL transactions, totaling roughly £7 billion.
Money Wellness, a free money advice service, saw record BNPL debt help requests in June with 4,520 customers.
This June number was only second to the usual high demand after Christmas in January.
The Financial Conduct Authority and experts are involved in explaining the new rules.
The changes aim to make BNPL safer but could also mean more people are turned down for these payment plans.
Read the Original
Want the full story? Tap a source to open the original
article.
Dale Vince, a green energy businessman and Labour Party donor, will receive damages from the Daily Mail’s publisher for using his photo to wrongly suggest he was involved in a sexual harassment case. The court of appeal ruled the newspaper misled readers by showing his picture next to a headline about another person’s misconduct.
Key Facts
Dale Vince is a businessman who supports the Labour Party and has donated over £5 million.
The Daily Mail published an article in June 2023 about Labour repaying money to a former donor accused of sexual harassment.
The article used a picture of Vince, but the headline referred to someone else, Davide Serra, who was found guilty of harassment in 2002.
The print edition kept Vince’s photo next to the misleading headline, while the online version replaced it after 47 minutes.
Vince sued the newspaper, claiming his personal data was wrongly used and that readers would wrongly think he was accused.
ANL (publisher of the Daily Mail) initially won in the high court but lost on appeal.
The court said the publisher failed to follow rules against misleading readers by mixing the headline and Vince’s photo.
Vince believes this case could change how libel laws work in the internet age, as many people only read headlines and not whole articles.
Read the Original
Want the full story? Tap a source to open the original
article.
Subaru of America is recalling over 541,000 vehicles due to a mistake on their certification labels. The labels show incorrect weight limits, which could cause the vehicle to be overloaded and increase the chance of accidents.
Key Facts
More than 541,000 Subaru vehicles are being recalled.
The recall is because the certification labels have a wrong gross axle weight rating (GAWR).
GAWR means the maximum weight an axle can safely carry.
The recall affects certain 2026 Crosstrek Hybrid, 2025-2026 Forester Hybrid and Forester, and 2019-2026 Ascent models.
Subaru was told about the problem by the National Highway Traffic Safety Administration (NHTSA) in May.
No crashes or injuries have been linked to this labeling error so far.
Subaru will send new labels by mail and offer free help from dealers to replace them.
Owners will be notified starting August 25, 2026.
The official Subaru recall number for this issue is WRH-26.
Read the Original
Want the full story? Tap a source to open the original
article.
Cognizant plans to hire 1,500 college graduates in the U.S. in 2026 to build a workforce that uses AI to help new employees learn faster and work in smaller, more skilled teams. The company is training new hires to use AI tools and gain industry knowledge quickly, aiming for them to take on important tasks sooner and work closely with clients.
Key Facts
Cognizant will hire 1,500 U.S. college graduates in 2026, with about 600 already hired.
AI is expected to help new employees gain skills faster and reduce the need for many middle-management layers.
New workforce teams will be smaller, with experienced workers acting as both coaches and active team members.
Graduates hired come from both technical and non-technical backgrounds and receive 8 to 12 weeks of training.
Cognizant focuses on hiring people who learn quickly and can develop expertise in specific industries or business areas.
The company has hired about 27,000 graduates globally since 2025 as part of a larger recruiting effort.
Some work requires employees to be physically near clients to improve business processes.
Cognizant uses programs and apprenticeships to connect with students early in their education.
Read the Original
Want the full story? Tap a source to open the original
article.
Debt collectors can sometimes go after money or property you inherit if you owe them money, but only after they get legal permission through a court. The rules depend on the type of debt, the kind of inheritance, and how and when you receive it.
Key Facts
Debt collectors can try to collect inherited assets only after getting a court judgment against you.
If you inherit cash and deposit it in your bank account, creditors may try to take it through legal methods like bank levies or garnishment.
Inherited real estate might be subject to liens or forced sale, but some states protect a primary home under homestead laws.
Retirement accounts inherited may have different protections based on federal and state laws and account type.
Creditors must follow legal steps before taking any inherited assets and usually cannot take property without a judgment.
If the inheritance is still in the probate process, creditors generally cannot claim it directly from the estate.
Unsecured debts like credit cards usually require a court judgment before collection, while secured debts involve collateral but do not automatically affect unrelated inherited assets.
Addressing debt problems early may help protect your inheritance from being taken by creditors.
Read the Original
Want the full story? Tap a source to open the original
article.
CBS Mornings Deals offers special discounts on various products that can help improve daily life. Customers can visit cbsdeals.com to find and buy these discounted items. CBS earns a commission when people buy through their website.
Key Facts
CBS Mornings Deals features exclusive discounts on lifestyle products.
The deals aim to help improve everyday living.
Customers can shop for these deals at cbsdeals.com.
CBS earns commissions from purchases made through the website.
The promotion is part of the CBS News platform.
The deals are highlighted during the CBS Mornings show.
Shoppers are encouraged to visit the website to take advantage of the offers.
Read the Original
Want the full story? Tap a source to open the original
article.
Bank of America CEO Brian Moynihan said that even though many Americans feel money is tight, people are still spending, which helps the U.S. economy grow. He expects the economy to grow by at least 2% this year, supported by strong consumer spending and events like the World Cup that boosted retail sales.
Key Facts
Consumer spending grew about 6% in the second quarter compared to last year.
Moynihan predicts the U.S. economy will grow by at least 2% this year.
The World Cup increased spending in host cities, with restaurant and bar sales up 5.3% compared to other parts of the U.S.
Bank of America was the official bank sponsor of the World Cup.
Moynihan views consumer actions as more important than Federal Reserve policies for understanding the economy.
He knows Federal Reserve Chair Kevin Warsh and expects steady leadership from him.
The bank recently made many senior hires in 26 cities, suggesting job growth is spreading across the country.
Moynihan believes the U.S. economy does not depend mainly on central bank actions but on real consumer behavior.
Read the Original
Want the full story? Tap a source to open the original
article.
A $2 billion development called Fourth & Central in downtown Los Angeles has been approved. It will create over 1,500 homes and focus on walkability, public spaces, and blending with the neighborhood instead of changing the skyline.
Key Facts
Fourth & Central is a mixed-use project in downtown Los Angeles costing $2 billion.
The project will provide more than 1,500 residential units.
It replaces old cold storage facilities, with plans to preserve one historic building if safe.
The design aims to create an "urban village" feel with 11 different buildings, not one big tower.
The project prioritizes housing, street-level activity, and neighborhood connection over tall skyscrapers.
Residents and community groups, especially from Little Tokyo, had concerns about gentrification and alcohol sales.
Changes were made to address community worries, including more affordable housing and reduced building height near Little Tokyo.
The Little Tokyo Community Council signed a Community Benefits Agreement and stopped opposing the project.
Read the Original
Want the full story? Tap a source to open the original
article.
India and the United Kingdom have started a new trade deal called the Comprehensive Economic and Trade Agreement (CETA). This deal reduces taxes on many goods and opens up services and markets for both countries, aiming to increase trade and business opportunities.
Key Facts
The trade agreement came into effect on a Wednesday (recently).
Indian exporters can now send many products to the UK without paying taxes, especially in textiles and other labor-intensive industries.
The UK will gradually reduce taxes on products like cars and also grant quotas to access Indian markets.
The UK removed tariffs on about 97% of its traded goods with India immediately.
India will remove taxes on 64% of tariff lines right away and gradually remove tariffs on another 21%, excluding sensitive items.
India exported $13.44 billion worth of goods to the UK in the financial year 2025-26, while importing $11.68 billion.
Services trade between the two countries was $35.44 billion in 2024, with India having a surplus of nearly $7.9 billion.
The deal helps professionals move temporarily to the UK without paying National Insurance for five years, benefiting over 75,000 professionals and 900 companies.
Read the Original
Want the full story? Tap a source to open the original
article.
California officials are recalling certain grapevine and desert willow plants sold at Costco because they may carry an invasive insect called the glassy-winged sharpshooter. This insect can spread a deadly plant disease called Pierce’s disease, which harms grapevines and threatens California’s large wine industry.
Key Facts
The glassy-winged sharpshooter is an invasive insect that feeds on plants and spreads a harmful bacterium called Xylella fastidiosa.
Pierce’s disease, caused by this bacterium, can kill grapevines by blocking their water system, and there is no cure.
California produces over 90% of the US’s grapes, with the grape and wine industry valued at billions of dollars.
Costco sold grapevine plants between April 21 and May 21, 2026, and desert willow plants between June 24 and July 3, 2026, that may carry the sharpshooter.
More than 1,300 affected grapevine plants were sold in Santa Clara County, with about 1,180 not yet recovered.
Agricultural workers are going door-to-door to collect the recalled plants and ask customers to report if they bought any affected plants.
The recall is currently focused on California counties including Santa Clara, Alameda, Napa, Sonoma, and others.
The USDA and California Department of Food and Agriculture are involved in managing the response.
Read the Original
Want the full story? Tap a source to open the original
article.
The article explains that cheaper medicines are available, but middlemen in the supply chain are preventing patients from accessing them. Both patients and doctors have limited control over which medicines reach them.
Key Facts
There are less expensive medicines available for patients.
Middlemen, such as distributors or pharmacy benefit managers, influence which medicines are provided.
Patients do not have the final say in choosing their medicines.
Doctors also are restricted in selecting medicines for their patients.
The supply chain system affects medicine prices and availability.
Read the Original
Want the full story? Tap a source to open the original
article.
