Retail sales in the United States grew by 1.7% in March compared to February, mainly due to a big increase in spending on gasoline. The rise in gas prices is linked to the ongoing Iran war, which has reduced oil supply and pushed costs higher.
Key Facts
Retail sales rose 1.7% in March after a 0.7% increase in February, according to the U.S. Commerce Department.
Gas station sales jumped 15.5%, driven by higher gas prices caused by the Iran war.
Excluding gas, retail sales increased by 0.6%, supported by tax refunds and warm weather.
Department stores saw a 4.2% sales rise; furniture stores increased 2.2%, and online retailers grew 1%.
The Iran war started on February 28 and has blocked part of the world’s oil supply by closing the Strait of Hormuz.
Gas prices surpassed $4 per gallon for the first time since 2022, costing consumers more at the pump.
Inflation increased to 3.3% in March year-over-year, the largest rise since May 2024, largely influenced by higher gas prices.
Consumers are spending more on necessary items, cutting back on non-essentials like dining out, which rose only 0.1%.
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President Donald Trump spoke against a possible merger between American Airlines and United Airlines. He expressed support for someone buying Spirit Airlines, highlighting its 14,000 jobs and suggesting the federal government could help.
Key Facts
President Trump opposed a merger between American Airlines and United Airlines.
He said he would like someone to buy Spirit Airlines.
Spirit Airlines has about 14,000 employees.
President Trump suggested that the federal government might assist with the purchase.
The comments were made during an interview on CNBC’s Squawk Box.
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Apple CEO Tim Cook announced that he will step down from his role leading the company. This is a significant change for Apple, one of the world’s largest technology companies.
Key Facts
Tim Cook is the CEO of Apple.
He announced he will leave his leadership position.
Apple is one of the biggest companies in the world.
The news was reported by CBS News.
CBS News contributor Patrick McGee provided more details.
This change will impact the company’s future leadership.
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President Barack Obama and former First Lady Michelle Obama’s production company, Higher Ground, will operate independently after being partnered with Netflix for eight years. They made this announcement during an event celebrating America’s 250th anniversary.
Key Facts
Higher Ground is the Obamas’ production company.
The company partnered with Netflix for eight years.
Higher Ground will now become an independent company.
The announcement came during a Philadelphia event.
The event honored America’s 250th anniversary.
President Obama spoke in an interview with historian Jon Meacham.
The decision means Higher Ground will no longer work exclusively with Netflix.
Higher Ground has produced films and shows about social and cultural topics.
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CBS Mornings Deals is offering special discounts on various products that could be useful for everyday life. Customers can visit cbsdeals.com to access these exclusive offers, with CBS earning commissions on sales made through the site.
Key Facts
CBS Mornings Deals features products with special discounts.
The items shown are intended to be helpful in daily activities.
Discounts are available exclusively through the website cbsdeals.com.
CBS earns money from purchases made via their deal website.
The deals were promoted during a CBS News segment.
Viewers are encouraged to shop through the website for savings.
The CBS News app and browsers like Chrome and Safari can be used to access the deals.
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Certificate of deposit (CD) interest rates are currently higher than the inflation rate, allowing savers to grow their money safely. Online banks typically offer better CD rates than traditional banks, with short-term CDs (around six months to one year) offering the highest interest rates right now due to an economic situation called the inverted yield curve.
Key Facts
CDs let you earn fixed interest rates for a set time, protecting against inflation.
National average CD yields as of April 21, 2026, are about 1.90% for 1-year, 1.65% for 3-year, and 1.70% for 5-year CDs.
Top CD rates from online banks range from around 3.75% to 4.10% APY, much higher than averages.
Online banks often have better CD rates because they save money on physical branches.
Large traditional banks generally offer lower CD rates, sometimes near zero.
Short-term CDs currently pay more interest than longer-term CDs, a situation called an inverted yield curve.
Laddering CDs—buying CDs of different lengths—can help lock in higher rates over time.
CDs are insured up to $250,000 by government agencies like the FDIC or NCUA, making them safe investments.
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Retail sales in the U.S. rose 1.7% in March compared to February, mainly because of higher gas prices caused by the war in Iran. When excluding gas, overall retail sales increased only slightly, with some growth in department stores, furniture, and online shopping.
Key Facts
U.S. retail sales increased by 1.7% in March after a 0.7% increase in February.
The rise in gas prices, linked to the Iran war, caused gas station sales to jump 15.5%.
Excluding gas sales, retail sales rose by just 0.6% in March.
Sales grew 4.2% at department stores and 2.2% at furniture stores.
Online retailers saw a 1% increase in sales.
Restaurant sales, the only service category included, went up by 0.1%.
The Iran war started on February 28 and has closed the Strait of Hormuz, which stops about one-fifth of the world’s oil supply.
The report does not include spending on travel or hotels, only some retail and restaurant spending.
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Work from home is no longer a temporary trend but a stable change in how people work. Data from the Federal Reserve shows that this shift matches patterns expected by economic models and market behavior.
Key Facts
Remote work has become a steady part of the work routine.
The Federal Reserve uses data to track changes in work habits.
The shift to hybrid work is supported by measurable information.
This change fits predictions made by economic models.
Market data reflects the new work-from-home trend.
The work-from-home pattern is not just a short-term fad.
Hybrid work combines working at home and working in the office.
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Many parents are helping their children from Generation Z buy homes by sharing wealth between generations. This support is important because many people in the U.S. find it hard to afford homes right now.
Key Facts
Parents are assisting Gen Z kids in buying homes.
This help often comes through passing down money or property.
Housing costs are rising in many parts of the U.S.
Affordability is a major challenge for young homebuyers today.
Generational wealth can make homeownership easier for younger people.
This trend is gaining attention as housing prices continue to increase.
Sharing wealth between generations affects the housing market.
The support helps young adults overcome financial barriers to owning a home.
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The parent company of the upscale 801 Chophouse steakhouse chain filed for Chapter 11 bankruptcy due to financial struggles caused by rapidly rising beef prices. The company plans to restructure its debt while keeping all eight restaurants open during the bankruptcy process.
Key Facts
801 Restaurant Group owns and runs the 801 Chophouse steakhouse chain.
The company filed for Chapter 11 bankruptcy on April 10 in Kansas.
It listed assets and debts between $10 million and $50 million.
Beef prices have risen about 16% compared to last year, with steak averaging $12.73 per pound in March 2026.
The U.S. cattle herd is the smallest in over 75 years due to drought and higher costs for feed, fuel, and labor.
It takes around 30 months for cattle herds to grow after ranchers decide to keep more cows for breeding.
Other steakhouse chains have also closed or reduced locations due to similar cost pressures.
All eight 801 Chophouse restaurants will stay open during the bankruptcy restructuring.
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Mortgage interest rates rose sharply in March but have recently started to decrease, offering some relief to homebuyers and those refinancing. As of April 21, 2026, the average rate for a 30-year mortgage is just under 6%, while the 15-year mortgage rate remains around 5.5%.
Key Facts
In March, 30-year mortgage rates increased from 5.75% to 6.37%, and 15-year rates rose from 5.25% to 5.75%.
Recent days have seen rates drop again; the 30-year rate is currently about 5.99%.
The 15-year mortgage rate holds steady around 5.50%.
Refinancing rates for a 30-year mortgage average 6.52%, and 5.60% for a 15-year term.
Mortgage rates depend on factors like credit score and payment history; better credit can lead to lower rates.
Homeowners should shop around for the best rates when refinancing and consider loan fees, not just the interest rate.
Locking in a mortgage rate now can protect borrowers from future increases.
These rates are higher than those seen at the start of the decade but close to historical averages.
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Royal Mail will let part-time postal workers increase their hours to improve delivery service. The company plans to invest £500 million over five years and change delivery schedules, including reducing second-class post delivery to every other weekday and stopping Saturday delivery for second-class mail, to meet its targets.
Key Facts
Part-time Royal Mail postal workers can work more hours to help improve delivery times.
Royal Mail will spend £500 million over the next five years on improvements, such as giving posties more familiar routes.
Delivery targets were relaxed by the watchdog Ofcom, but Royal Mail still missed those lower targets recently.
Changes include delivering second-class and low-priority mail every other weekday instead of daily; parcels will still be delivered Monday to Saturday.
Royal Mail plans to stop Saturday delivery of second-class mail, pending a vote by postal workers through their union (CWU).
The Communication Workers’ Union supports plans to fix problems but questions if Royal Mail will provide enough support and resources.
Royal Mail denies claims that it prioritizes parcels over letters for profit.
The company says six-day-a-week letter delivery is outdated and the new plans align with practices in other European postal services.
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The article explains that wealth is active and constantly used as capital to create value. It warns that if the government takes wealth through taxes, it can have negative effects on the economy.
Key Facts
Wealth is not just money sitting still; it is money being used to invest and create more value.
Government tax on wealth means taking away some of this active capital.
When capital is taken away, it can slow down economic growth.
The article suggests that taxing wealth heavily is not a good way to increase a country's prosperity.
Capital in motion is important for investments, business growth, and job creation.
Confiscating wealth could lead to fewer opportunities for economic development.
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China’s economy grew by 5% in the first quarter of this year, better than expected, despite global energy market disruptions caused by the conflict involving the US, Israel, and Iran. However, challenges remain from weak consumer spending, a troubled property market, and a declining population. China is focusing on investing in high-tech and green energy industries to strengthen its position.
Key Facts
China’s economy grew 5% in the first quarter of the year.
This growth was better than economists had predicted.
The conflict between the US, Israel, and Iran is affecting global energy markets.
China’s domestic consumer spending is weak.
The country’s property market is struggling.
China’s population is shrinking, which may impact future growth.
Beijing is investing heavily in high-tech and green energy sectors.
China leads global supply chains in many high-tech and green energy areas.
The Iran war is changing energy supply routes, and China may be less affected than other countries.
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Royal Mail will change second-class post delivery to every other weekday and stop Saturday deliveries starting next month. This is part of a £500 million plan to improve late deliveries and meet new targets set by the postal regulator, Ofcom.
Key Facts
Second-class post will be delivered every other weekday, with no deliveries on Saturdays starting next month.
First-class post and parcel deliveries will stay the same, with daily service Monday to Saturday for first-class and up to seven days for parcels.
Royal Mail aims to meet new delivery targets from Ofcom by next May.
Ofcom fined Royal Mail £21 million last October for missing delivery targets in 2024-25.
Royal Mail’s £500 million investment includes allowing 6,000 part-time workers to increase their hours if needed.
Stamp prices have recently risen to £1.80 for first-class and 91p for second-class mail.
The Communication Workers Union (CWU) will ballot members on the changes after reaching an agreement with Royal Mail.
The company’s new delivery goals include 85% of first-class mail delivered next day within nine months, improving to 90% within a year.
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Walmart is recalling several products after safety regulators found risks that could cause serious injuries. Items like exercise machines, portable generators, and infant car seats sold at Walmart and online have defects that could lead to falls, burns, fires, or safety issues with car seats.
Key Facts
The U.S. Consumer Product Safety Commission (CPSC) and National Highway Traffic Safety Administration (NHTSA) announced recalls in April.
Sperax walking pads and treadmills sold online can suddenly speed up or stop, causing falls and burns; Sperax refused to recall them.
About 149,400 Generac portable generators were recalled due to fuel leaks that could cause fires or burns.
Generac received 114 reports of fuel leaks but no injuries so far.
Around 5,126 Graco rear-facing infant car seats were recalled for a potential safety defect in the restraint system.
The recalled Graco seats were made between December 2025 and March 2026.
Customers should stop using the affected products, check model numbers, and follow recall instructions.
The recalled products were sold through Walmart stores, Walmart.com, and other retailers like Sam’s Club, Home Depot, and Lowe’s.
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A new report shows that companies offering gig work for nurses, similar to Uber’s model for drivers, are pushing to change laws so they have fewer rules to follow. These companies use artificial intelligence (AI) to set pay, track work, and let nurses bid against each other for shifts, often lowering wages and reducing worker protections. The report warns this could hurt nurses’ rights, pay, and patient safety as these platforms grow and gain government contracts.
Key Facts
Several nurse gig platforms have reached valuations of $1 billion, attracting private investment.
These platforms use AI to fix pay rates, monitor performance, and decide future work opportunities for nurses.
Nurses can bid with hourly wage offers for shifts, with the lowest bid often winning the job.
Some platforms deduct points from nurses for cancelling or showing up late, affecting future work chances.
Since 2022, lawmakers in 17 states have proposed bills to exempt gig nursing platforms from healthcare staffing rules.
States like Colorado, Illinois, and Minnesota are considering laws that reduce regulations on these gig companies.
Some states already exempt gig nurses from worker protection and unemployment insurance laws.
The companies are also lobbying federally for laws that allow them to get government contracts and reduce liability for patient injuries.
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A large law firm called PM Law in Sheffield suddenly closed and is now under investigation for suspected fraud involving nearly £40 million of client money. The Solicitors Regulation Authority (SRA) is working to support affected clients and has paid out millions from a compensation fund.
Key Facts
PM Law had 25 offices across several UK regions and over 600 staff.
The firm closed on 2 February, leaving many clients' legal cases impacted.
The SRA estimates £39.5 million of client funds were misused or wrongly removed.
More than £21 million in claims have been made to the SRA compensation fund so far.
By 17 April, the SRA had paid £9.31 million to clients from the fund and £6.8 million from money found at the firm.
About 9,300 client files were returned to their owners by the regulator.
The investigation involves reviewing around 25,000 emails and letters and 17,000 inquiries.
Police fraud reporting services are involved and collaborating with the SRA on the case.
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The Scott Trust, owner of the Guardian, announced the next phase of its 10-year plan to address the newspaper’s historical ties to transatlantic slavery. The plan, running from 2026 to 2030, includes community support projects in Jamaica, the US Sea Islands, and Manchester, and aims to continue restorative justice efforts through funding, journalism, and education.
Key Facts
The Scott Trust started the Legacies of Enslavement programme in 2023.
The programme acknowledges the Guardian’s founder profited from slavery in Jamaica and the US.
The next phase will invest millions of UK pounds in community projects led by descendants of enslaved people.
Initiatives focus on education, land rights, economic and climate justice, cultural preservation, and healing conversations.
New managers have been appointed to lead work in Jamaica and the US Sea Islands, joining the existing manager in Manchester.
The programme supports recovery efforts in Jamaica after Hurricane Melissa and plans a Manchester exhibition on cotton and slavery.
The Guardian is expanding its coverage of Black communities globally and increasing diversity through bursaries and trainee schemes.
The Cotton Capital newsletter, exploring slavery’s legacy and reparative justice, will be relaunched monthly.
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A jury in North Carolina found that Uber is responsible for a driver who touched a passenger inappropriately and asked to keep her with him. The jury awarded the passenger $5,000 in damages, marking one of several lawsuits against Uber for sexual assault by drivers.
Key Facts
A federal jury in Charlotte, North Carolina, ruled Uber liable for a driver's inappropriate touching of a passenger.
The driver grabbed the passenger’s inner thigh and asked if he could "keep her" with him as she left the car.
The jury awarded $5,000 in damages to the passenger.
This case is one of several sexual assault lawsuits against Uber across the U.S.
Uber drivers are classified as contractors, not employees, which has affected liability claims.
A judge ruled Uber is a "common carrier" in North Carolina, meaning it is responsible for its drivers' conduct.
Uber disagrees with the verdict and plans to appeal, saying the jury was wrongly instructed on liability.
Previous cases show mixed results, including an $8.5 million award in Arizona and a not liable verdict in California.
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