Twelve US states, led by California, have filed a lawsuit to stop Paramount Skydance from buying Warner Brothers Discovery. They argue this merger would give the new company too much control over the market, which could hurt both consumers and workers.
Key Facts
Twelve US states are challenging the merger between Paramount Skydance and Warner Brothers Discovery.
The states claim the merger would create a company with excessive market power.
They believe this could negatively affect consumers by reducing competition.
Workers might also face harm due to the merger's effects.
California is leading the legal action against the deal.
Some see the lawsuit as connected to political concerns about business influence and closeness to President Donald Trump.
The case highlights worries about unchecked business power and potential corruption.
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Creditors can, in most states, use a legal process called a bank levy to take money from a joint checking account to pay off one account holder's unpaid debt. Even if the other person on the account is not responsible for the debt, the bank usually treats the account as one combined fund and must follow the court’s order.
Key Facts
A bank levy lets creditors freeze and take money from a bank account to collect unpaid debts after a court judgment.
Joint checking accounts are legally considered shared funds, so creditors can often take money from the whole account if one owner owes money.
Banks usually do not separate whose money is whose before following a levy order.
Laws about joint accounts vary by state, but many assume equal ownership or that the debt belongs to the creditor’s target unless proven otherwise.
Non-debtor account holders can often challenge the levy to protect their money.
Some government funds, like Social Security benefits, may be protected from levies, but protection rules can get complicated if those funds mix with other money.
If both account holders owe a debt, creditors have wider rights to take money from the joint account.
Addressing debt early and exploring options like debt relief or debt settlement can reduce the risk of losing money through a levy.
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United Airlines will offer a new Economy Plus seating option with an empty middle seat on its new Airbus A321XLR planes starting later this year. This option will give passengers more space, including a fixed table across the empty middle seat, and will be available for domestic flights first, with international service beginning in 2027.
Key Facts
United will launch Economy Plus seats with an empty middle seat on its Airbus A321XLR aircraft.
This new seating option will debut later this year for domestic flights.
International flights with this option will start in early 2027.
The empty middle seat row will have a fixed table covering the space to provide extra room.
The table will have a soft leather-like cover and cup holders built in.
United claims it is the only U.S. airline offering this empty middle seat option.
United also plans to offer Relax Row seats that recline into flat beds starting in 2027.
United is updating its fleet to add more passenger comfort and choices across all cabins.
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The conflict between the US, Israel, and Iran has caused global increases in fossil fuel prices, leading to higher costs for energy and goods in many countries. This situation shows how reliance on fossil fuels makes economies vulnerable to international crises, and highlights the importance of shifting to renewable energy to increase economic security.
Key Facts
The conflict has raised fuel prices, increasing costs for households and businesses worldwide.
Many countries depend on imported oil and gas, making them vulnerable when supply routes like the Strait of Hormuz are disrupted.
Higher fuel prices contribute to inflation, affecting transportation, electricity, and food costs.
International organizations warn that rising fuel and fertilizer prices worsen food insecurity, potentially pushing 45 million people into severe hunger.
Fossil fuel companies have made large profits during the conflict, earning over $30 million per hour in one month.
These companies often respond to crises by pushing for more fossil fuel production, pipelines, subsidies, and reducing environmental protections.
Increasing local renewable energy use can reduce dependence on fossil fuels and protect economies from global disruptions.
The underlying risk of fuel supply shocks remains even if this conflict ends, as future geopolitical events may trigger new disruptions.
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Papa Murphy’s parent company, MTY Group, announced it will close up to 50 Papa Murphy’s stores in the U.S. as part of restructuring due to financial losses. The closures will mainly affect company-owned stores and are planned to happen gradually over the next six to nine months.
Key Facts
MTY Group will close 68 locations from several restaurant brands, with Papa Murphy’s bearing the largest share.
The closures represent about 1% of MTY Group’s total store base.
Papa Murphy’s had 1,014 stores in 2025, including 965 franchised and 49 company-owned.
Most closures will involve company-owned stores, especially in states like Tennessee, Indiana, and North Carolina.
The closed stores lost over $10 million in the past year.
The company aims to focus on more profitable locations to reduce overall losses.
Other restaurant chains like Wendy’s, Papa John’s, and Pizza Hut are also closing stores this year.
Store closures will start around mid-July 2024 and continue over several months.
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CBS Mornings Deals offers special discounts on products that aim to enhance daily life. Customers can visit cbsdeals.com to find and buy these items, and CBS earns a commission from these sales.
Key Facts
CBS Mornings Deals features discounted products for everyday use.
The deals are available on the website cbsdeals.com.
CBS earns money when people buy through their website.
The promotion is part of CBS News programming.
The article encourages viewers to take advantage of these offers today.
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A new CSIRO report finds that abandoning Australia’s net zero climate target would not reduce power prices. Electricity costs are expected to rise after 2030 no matter the policy, and nuclear power would be the most expensive way to produce electricity.
Key Facts
The CSIRO’s GenCost report analyzes the future costs of electricity generation technologies in Australia.
The report says electricity generation costs will likely increase after 2030, regardless of net zero policy.
Nuclear power is projected to be the most expensive electricity source among current options.
Delaying coal plant closures or building new coal plants would increase greenhouse gas emissions.
Abandoning net zero targets does not create a cheaper path for electricity generation.
Electricity wholesale prices peaked in 2022 at $189 per megawatt hour and are expected to rise again as coal plants retire.
Renewables like solar and batteries are becoming cheaper and replacing the need for gas during peak times.
Wholesale electricity price makes up about one-third of the total retail electricity bill in Australia.
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Apple has filed a lawsuit against OpenAI, accusing the company of stealing trade secrets. These secrets seem to relate to Apple's plans involving hardware technology.
Key Facts
Apple is taking legal action against OpenAI.
The lawsuit claims OpenAI stole Apple's trade secrets.
The stolen information seems connected to Apple's hardware projects.
Trade secrets are confidential business information that companies protect to keep an advantage.
This legal move shows rising tensions between technology companies over intellectual property.
Details about the specific secrets or how they were taken have not been publicly shared.
The case highlights concerns about competition in the tech industry.
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Mortgage rates can change even without the Federal Reserve lowering its main interest rate. Experts say mortgage rates depend more on the 10-year Treasury yield and inflation than on direct Fed rate cuts.
Key Facts
Mortgage rates were about 6.5% in mid-July 2026 after fluctuating earlier in the year.
The Federal Reserve has not changed its rates in 2026 and may keep them steady or raise them.
Mortgage rates generally follow the 10-year Treasury yield, which reflects market expectations for inflation and Fed policy.
Inflation is currently high at 4.2%, above the Fed’s 2% target, keeping mortgage rates elevated.
Energy prices rose 23.5% due to conflicts affecting fuel costs, contributing to inflation.
Mortgage-backed securities purchases by Fannie Mae and Freddie Mac helped lower mortgage rates temporarily.
Fed Chair Kevin Warsh said the Fed is unlikely to cut rates this year.
Changes in consumer costs like gasoline prices can influence mortgage rates to move up or down.
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De Beers, a major diamond company, is pausing production at its largest mine in South Africa, called Venetia, for two years. This decision follows a drop in diamond sales due to fewer buyers, especially in China, and more competition from cheaper lab-grown diamonds.
Key Facts
De Beers is stopping work at the Venetia mine for two years to save money and improve operations.
Venetia mine produces over 40% of South Africa’s diamonds and employs more than 4,000 workers.
Diamond prices have dropped nearly by half since 2022 because fewer people are buying natural diamonds.
Lab-grown diamonds are becoming more popular due to ethical and environmental concerns about mining.
De Beers also makes its own lab-grown diamonds, which cost less than natural ones.
Anglo American owns most of De Beers and is considering selling it to focus on copper mining.
De Beers plans to upgrade the mine’s equipment and increase capacity during the shutdown to reopen when the market improves.
The mining sector in South Africa employs almost half a million people and is important to the country’s economy.
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A new study shows that baby boomers are drinking less alcohol now than any other generation, even less than Gen Z. While younger people are drinking more, overall alcohol consumption is dropping, which may be due to lifestyle changes rather than just economic problems.
Key Facts
71% of baby boomers drank alcohol in the past six months, the lowest rate among generations.
Gen Z drinking rates rose from 66% to 74% in the past three years.
The average number of drinks per occasion dropped from 4.4 to 3.9.
Boomers consume fewer drinks per occasion (2.6) and drink less often than other groups.
The decline in drinking is seen as a long-term lifestyle change, not just due to inflation or money issues.
Alcohol sales are falling globally, affecting companies like Diageo and Pernod Ricard.
Some wealthy people in India and China are drinking more, with rates rising in urban areas.
The study surveyed over 32,000 people in the 15 largest alcohol markets.
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Inflation in the United States decreased in June, mainly because energy prices went down. However, rising oil prices due to conflicts in Iran and Russia may cause inflation to rise again soon.
Key Facts
Inflation dropped 0.4% in June after rising 0.5% in May.
The Consumer Price Index (CPI) increased 3.5% over the past year, down from 4.2% in May.
Energy prices fell 5.7% in June, which was the main reason for the inflation drop.
Core inflation, which excludes food and energy, rose 2.6% in June, slightly less than 2.9% in May.
Oil prices jumped over 20% since July 1 because of renewed conflict between the U.S. and Iran.
Russia also faces fuel shortages due to its war with Ukraine, adding pressure on energy prices.
Higher energy costs can lead to higher prices for consumers, affecting President Trump and upcoming elections.
The Federal Reserve may delay raising interest rates further because of the recent inflation drop.
New Federal Reserve chairman Kevin Warsh will discuss these issues in hearings this week.
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The US inflation rate decreased to 3.5% in June, mainly because gasoline prices dropped. However, inflation may rise again soon due to higher oil prices after new military actions in the Middle East and changes to shipping rules.
Key Facts
Inflation in the US was 3.5% for the year ending in June, down from 4.2% in May.
Gasoline prices fell by 9.7% in June but remain higher than last year.
The average gas price recently increased to $3.86 per gallon, up from $3.79 a week earlier.
Oil prices rose sharply, with Brent crude reaching $87 per barrel after a $10 jump in 24 hours.
The price rise followed US military strikes on Iran and President Donald Trump’s new naval blockade in the Strait of Hormuz.
A 20% fee was imposed on all cargo passing through this important global shipping route.
The price changes in oil and gasoline could cause inflation to increase again soon.
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Inflation in the United States fell by 0.4 percent in June. This drop followed a short-lived deal between the U.S. and Iran that temporarily lowered energy prices.
Key Facts
The consumer price index (CPI) dropped 0.4 percent in June.
This was the largest one-month price decrease in recent times.
The decline happened after a deal between the U.S. and Iran.
The deal helped lower energy prices for a short period.
The agreement between the U.S. and Iran has since ended.
Energy prices influence overall inflation because they affect many goods and services.
Data was released by the Bureau of Labor Statistics.
Inflation measures how much prices for goods and services rise over time.
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Inflation in the United States fell more than expected in June, dropping to a 3.5% annual rate from 4.2% in May. This decline was mainly due to lower gasoline prices, which decreased by nearly 10% that month.
Key Facts
Inflation slowed to an annual rate of 3.5% in June, down from 4.2% in May.
Economists had predicted a higher inflation rate of 3.9% for June.
Gasoline prices dropped 9.7% in June, the biggest one-month fall since April 2020.
The Consumer Price Index (CPI) measures the average change in prices for goods and services consumers buy.
The core CPI, which excludes energy and food prices, rose 2.6% annually in June, less than May’s 2.9%.
Falling oil and gasoline prices in June and July suggest May might have been the peak for inflation this year.
The data was released by the U.S. Labor Department and analyzed by Oxford Economics.
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Oil prices have risen to their highest level in four weeks due to renewed tensions between the United States and Iran, including a US naval blockade and exchanged attacks. Meanwhile, US inflation has fallen more than expected, dropping to 3.5% annually, which may influence Federal Reserve decisions on interest rates.
Key Facts
Brent crude oil prices increased by 4.55%, reaching $87.08 per barrel, the highest since mid-June.
US West Texas Intermediate crude also rose to around $81 per barrel.
The US and Iran previously had a ceasefire and peace talks, but tensions have escalated recently.
Iran continues talks with Qatar, Pakistan, and Oman to avoid further conflict.
US inflation fell to 3.5% yearly in June, lower than economists’ predictions.
Core inflation (excluding food and energy) dropped to 2.6%, below forecasts.
Rising oil prices may keep inflation and borrowing costs elevated internationally, including in the UK.
The Federal Reserve’s policy decisions could be affected by these inflation trends and energy price changes.
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Inflation in the U.S. dropped more than expected in June, mainly because gas prices became lower. This happened after talks between the U.S. and Iran about the conflict in the Middle East helped bring down the cost of fuel.
Key Facts
Inflation rose 3.5% in June compared to a year before, down from 4.2% in May.
Gas prices fell due to negotiations between the U.S. and Iran.
The inflation data comes from the U.S. federal government.
The drop in inflation is linked to easing tensions and lower energy costs.
Lower gas prices helped reduce overall inflation in the U.S. for June.
The situation is still developing and updates are expected.
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The BBC has released the list of its highest-paid stars for the 2025-2026 financial year. The earnings mainly cover presenters in news, sports, and radio shows, with some well-known names missing because their programs are produced by commercial or independent BBC arms.
Key Facts
Scott Mills was the top earner with a salary between £745,000 and £749,999, up from about £355,000 the previous year.
Greg James earned between £440,000 and £444,999 for his work on Radio 1 and Radio 4.
Alan Shearer earned around £390,000 to £394,999, a decrease from the previous year.
Laura Kuenssberg and Vernon Kay both earned between £405,000 and £409,999.
Gary Lineker earned between £325,000 and £329,999, consistent with previous years.
Some big stars like Claudia Winkleman and Graham Norton do not appear on the list because their shows are made by BBC Studios or other companies.
The salary list only includes presenters who earned more than £178,000 during the year.
Salaries are shown in bands rather than exact numbers, and changes compared to last year are indicated by symbols.
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Oil and gas prices rose sharply after the US launched a third night of military strikes against Iran. This increase pushed expectations higher for interest rate rises by European banks due to fears of inflation.
Key Facts
Brent crude oil price rose by up to 4.6% to $87.08 per barrel, its highest in over a month.
Oil prices had surged as much as 10% the day before, after President Trump announced a blockade of Iranian shipping.
European natural gas prices increased nearly 3%, reaching their highest level since early April.
UK natural gas prices rose 3.3%, marking a three-month high.
Financial markets now expect the Bank of England and European Central Bank to raise interest rates by 0.25% in September and possibly again by the end of the year.
President Trump said the Strait of Hormuz would remain open, with the US charging a 20% fee on ships passing through for security costs.
The Strait of Hormuz is crucial as about 20% of the world’s oil supply passes through it, and recent tensions have slowed traffic significantly.
UK government bond yields increased to their highest levels since May, while stock markets in Europe fell slightly amid the tensions.
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Major oil producers and countries are working to reduce their reliance on the Strait of Hormuz, a key route for global oil shipments, due to risks from conflicts like the ongoing U.S.-Iran war. New pipelines and port projects aim to provide alternative ways to export oil, though the strait remains important for some countries and products.
Key Facts
The Strait of Hormuz is a crucial route for about 20% of the world’s oil supply.
Ongoing conflict and tensions between the U.S. and Iran have increased concerns about disruptions in this waterway.
President Donald Trump announced plans to reinstate a blockade of the strait and to charge fees for shipments, though these charges have no legal backing.
These tensions caused oil prices to rise by over 9%, with Brent crude reaching $86.57 per barrel.
Analysts estimate that by 2027, new and existing pipelines could reroute over 45% of oil exports currently passing through the strait, growing to over 60% by 2028.
Two major pipeline projects are already under construction: one in the UAE and another in Iraq.
Some exports, like Qatar’s liquefied natural gas, cannot be rerouted from the strait.
The global oil market has adapted to past disruptions through reduced imports, oil reserves releases, and alternative shipping routes.
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