Telstra, an Australian telecom company, is still experiencing problems after a national outage caused by a software fault. The issues are affecting emergency calls to triple zero and disrupting Victoria’s regional train services. The government has said a full investigation will take place to find out what happened.
Key Facts
Telstra’s outage began on Wednesday due to a software fault related to its GPS timing system.
The fault caused emergency triple-zero calls to fail or go to voicemail.
By Thursday morning, the problem with emergency calls was 90% reduced but not fully fixed.
Victoria’s regional trains remained suspended because of the Telstra outage.
Telstra performed over 300 welfare checks on people who tried to call triple zero during the outage.
Six people needed immediate help, and others were referred to police for checks.
The government wants a full investigation and possible penalties for the outage.
Opposition officials criticized Telstra's network reliability, calling it critical infrastructure.
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The Federal Trade Commission (FTC) and several states have reached a settlement with John Deere, requiring the company to let farmers and independent repair shops fix their own equipment. This agreement ends John Deere’s practice of limiting repair tools to authorized dealers, giving equipment owners more control over repairs.
Key Facts
John Deere must now provide diagnostic and repair tools to equipment owners and independent shops.
The FTC and attorneys general from Arizona, Illinois, Michigan, Minnesota, and Wisconsin led the lawsuit against Deere.
Deere previously required customers to use authorized dealers for repairs by restricting access to software tools.
The company will pay $1 million to the five states for antitrust enforcement costs.
Deere will be under strict compliance oversight for 10 years to ensure it follows the settlement.
Deere denied that its repair policies were anticompetitive but agreed to the settlement.
The settlement follows a $99 million class-action settlement Deere reached earlier in 2025 over repair issues.
The right-to-repair movement involves giving consumers and independent workers the ability to fix products without relying on manufacturers only.
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Starbucks will start paying its baristas to create TikTok videos that promote the company. Baristas can earn a share of the advertising money if their videos are approved by Starbucks, beginning this summer.
Key Facts
Starbucks plans to pay baristas for making TikTok videos.
The videos must be approved by Starbucks to qualify for payment.
Payments come as a share of the ad revenue generated by the videos.
This program will start in the summer of 2026.
The initiative aims to engage baristas in promoting the brand on social media.
TikTok is a popular video-sharing platform used for marketing and entertainment.
Starbucks is exploring new ways to connect with customers through digital content.
This effort reflects a growing trend of companies using employee-created content for promotion.
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The Jackdaw gas field in the North Sea needs UK government approval to start production and help avoid gas shortages this winter. The project could supply about six percent of the UK’s gas needs starting October 1, but environmental groups oppose it due to climate concerns.
Key Facts
Jackdaw is a gas field located 150 miles east of Aberdeen in the North Sea.
The UK government is reviewing new applications to approve production at Jackdaw and another field called Rosebank.
If approved, Jackdaw could supply six percent of the UK’s gas demand from October 1.
The UK currently has only about eight days of gas storage available.
Delays in approval could risk gas shortages, especially during bad weather or geopolitical threats.
The Jackdaw project has cost around £1.5 billion and is owned by Adura, a joint venture of Shell and Equinor.
Environmental groups argue that approving new oil and gas projects worsens climate change and serves only a small part of UK’s gas needs.
Some UK politicians and unions support expanding North Sea oil exploration to secure jobs and energy supply.
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The Dow Jones stock market index fell by almost 600 points on Wednesday. This drop happened because oil prices went up after President Donald Trump said the ceasefire with Iran had ended.
Key Facts
The Dow Jones dropped nearly 600 points in one day.
Oil prices increased at the same time as the Dow's decline.
President Donald Trump announced that the ceasefire with Iran is over.
The statement about the ceasefire likely affected investor confidence.
The news caused concern about renewed fighting between the U.S. and Iran.
Rising oil prices often lead to stock market declines due to economic worries.
The Dow Jones is a major U.S. stock market index used to track economic health.
The situation reflects how political events can quickly impact financial markets.
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The International Monetary Fund (IMF) has lowered its forecast for global economic growth in 2026 to 3% due to risks from the war in Iran and other factors. However, it expects the global economy to improve again in 2027.
Key Facts
The IMF reduced the 2026 global growth forecast for the second time this year.
The war in Iran is causing uncertainty and risks for the global economy.
The forecast for 2026 growth is now 3%.
The IMF expects economic growth to rebound in 2027.
The situation is affecting countries differently, with low-income countries facing more challenges.
External events like US trade threats and regional conflicts are impacting economic stability.
The IMF monitors these developments to update its growth predictions regularly.
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US stock markets dropped after President Donald Trump said the ceasefire with Iran had ended, causing oil prices to rise sharply. At the same time, the Federal Reserve pointed to concerns about inflation that could lead to higher interest rates later this year.
Key Facts
President Trump declared the ceasefire with Iran over during a NATO summit in Turkey.
Brent crude oil price rose over 5%, reaching above $80 per barrel.
The Dow Jones Industrial Average fell by 1.09%, or 500 points, while the S&P 500 had a small loss and Nasdaq gained slightly.
The International Monetary Fund lowered its global economic growth outlook from 3.1% to 3% due to Middle East conflict and spending on artificial intelligence (AI).
US gas prices average $3.79 per gallon, which is 65 cents higher than a year ago.
US inflation hit 4.2% in May, above the Federal Reserve’s 2% target and the highest in three years.
Federal Reserve meeting notes showed debate about inflation timing but little talk of cutting interest rates soon; some officials expect rates to rise before year-end.
Rising inflation is linked to past tariffs, higher energy costs due to the Middle East conflict, and increased AI-related demand.
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The price of starter homes in many parts of the U.S. has risen to around $1 million. This increase is causing younger people to question if buying a home is still a realistic part of their future.
Key Facts
Starter homes now cost about $1 million in many areas of the country.
Higher home prices make it harder for younger generations to buy houses.
The traditional idea of homeownership as part of the American dream is being questioned.
The article includes advice on financial topics like wedding costs and buying life insurance.
The discussion is part of a CBS News segment on personal money matters.
Viewers can send money questions to the email askjill@jillonmoney.com.
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The US summer travel season is slowing down due to rising airfare and fuel costs, worsened by tensions between the US, Israel, and Iran. These factors have caused higher fuel prices, reduced travel demand, and disrupted airline operations both in the US and Europe.
Key Facts
President Donald Trump declared the ceasefire with Iran over, leading to expectations of more attacks and rising fuel costs.
US crude oil prices rose by 4.84% in one day amid these tensions.
More than 7.3 million people passed through US airport security over the Fourth of July weekend, a 2.3% drop from last year.
Around 45% of Americans chose not to travel this summer due to high costs, down 2% from last year.
Airfare prices in the US have increased by 8.2% since February 2024.
United Airlines announced up to 20% price increases, and American Airlines cut some routes because of rising fuel prices.
Budget airline Spirit Airlines shut down in May, citing geopolitical conflicts and fuel costs.
European airlines like Lufthansa and British Airways also reduced flights to save fuel amid rising costs.
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The UK’s welfare spending on sickness and disability benefits has been rising steadily, reaching £58 billion in 2025 and expected to hit £78 billion by 2030. A significant increase in Personal Independent Payments (PIP) claims is linked to more people being diagnosed with ADHD and other mental health conditions.
Key Facts
Andy Burnham plans to reduce the UK’s welfare bill by encouraging more people to work.
The sickness and disability benefits bill for working-age people is currently £58 billion and projected to rise to £78 billion by 2030.
Personal Independent Payments (PIP) help cover extra costs for physical or mental health conditions and disabilities.
PIP claims in England and Wales increased from 3.6 million to 4 million since Labour took office.
Claims related to mental health or developmental conditions like ADHD rose from 16.5% in 2020 to 24% in 2026.
Over 100,000 people currently receive PIP for ADHD, up 40% since Labour became the government.
Half of the people claiming PIP for ADHD are aged 16 to 24.
The rise in ADHD claims is partly due to better diagnosis and more people seeking support.
The overall share of non-pensioner welfare spending has fallen since 2010 due to cuts in benefits like housing and Universal Credit.
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The article explains important advice for people who want to buy a house together but are not married. It shares a real example of a man whose cousin bought a house with a girlfriend, and after they broke up, the cousin’s credit stayed tied to the house while the ex kept living there without refinancing. The article also discusses new student loan rules that began on July 1, 2026, and why taking on college debt may now be less beneficial.
Key Facts
Buying a house with someone you’re not married to can create financial problems if the relationship ends.
One common issue is that both people remain legally responsible for the mortgage even if one moves out.
Refinancing means replacing the old mortgage with a new one, which can remove one person’s name from the loan.
The cousin in the example still has credit tied to the house because the ex refuses to refinance.
New student loan rules started on July 1, 2026, affecting how parents and students manage college debt.
The changes may make borrowing money for college less attractive or helpful than before.
It is important to understand financial agreements before buying big things or taking on loans.
People with money questions can email askjill@jillonmoney.com for advice.
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A high-yield savings account allows people to earn more interest on money like $18,000 without locking it away for a long time. With current rates around 4.10%, savers could earn over $300 in interest within six months if rates stay steady.
A certificate of deposit (CD) account with a 4.20% interest rate offers savers a guaranteed way to earn money on their deposits over a fixed period. The total interest earned depends on how much money is deposited and the length of the CD term, with options like 18-month and 5-year CDs currently available at this rate.
Key Facts
CDs with a 4.20% interest rate are available for terms of 18 months and 5 years.
Interest earned increases with both higher deposits and longer terms.
Example: A $1,000 deposit in an 18-month CD earns about $63.66; the same deposit in a 5-year CD earns about $228.40.
Larger deposits yield proportionally more interest, for example, $100,000 earns $6,365.69 in 18 months and $22,839.66 in 5 years.
CD accounts have fixed interest rates, so the return is guaranteed if the money stays until maturity.
Early withdrawal from a CD can lead to penalties that may cancel out earned interest.
CDs are insured by the FDIC up to $250,000, providing safety for deposits.
Online platforms make it easy to compare CD rates, terms, and lenders.
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A federal judge rejected Kalshi’s request to block New York’s gambling laws that stop the company from offering sports-event bets. Kalshi is appealing this decision while New York continues to enforce its laws to protect consumers. The court ruled that federal regulation does not prevent states from applying their own gambling rules.
Key Facts
Kalshi is a prediction market company registered under the Commodity Futures Trading Commission (CFTC).
New York’s State Gaming Commission told Kalshi to stop offering sports betting contracts in October 2025.
A federal judge ruled that New York’s gambling laws apply to Kalshi despite its CFTC registration.
The judge said federal law allows states to regulate gambling alongside federal rules.
Kalshi argues its contracts are financial swaps regulated by the CFTC, but New York views them as gambling.
Kalshi is appealing the ruling to the US Court of Appeals for the 2nd Circuit.
New York officials want to protect consumers, especially young adults, from unregulated sports gambling.
Kalshi and its competitor Polymarket are connected to Donald Trump Jr. as an advisor or investor.
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A woman shared on Reddit that she thought she had received a job offer after a good interview, but later found out the company was still interviewing candidates. She accepted what she believed was an offer by email and told her family, only to be told the job was not yet hers. She learned the importance of waiting for a clear, written job offer before accepting.
Key Facts
The woman is a recent graduate who interviewed for a job she really wanted with a higher salary near her home.
The interviewer discussed salary and start dates, which made her think she had the job.
She emailed the company accepting what she thought was an offer and told her family.
The company later replied saying they were still reviewing applications and had not made an offer.
She felt embarrassed but shared her story online, where many people responded with support.
Some commenters explained that interview communication can be confusing and reassured her it’s not her fault.
Job experts say candidates should wait for a formal job offer in writing before accepting.
It’s common for hiring decisions to take time, and candidates should ask when to expect a decision.
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Tensions between the U.S. and Iran have raised concerns about fuel prices because fighting could stop oil tankers from moving through the Persian Gulf. After President Donald Trump ended the ceasefire with Iran, oil prices rose to their highest in weeks, which may lead to higher gasoline costs for drivers.
Key Facts
The U.S.-Iran ceasefire ended after Iranian attacks on ships and U.S. military sites in the Gulf.
Fighting could halt oil tanker traffic through the Strait of Hormuz, a key route for global oil shipments.
Oil prices increased, with U.S. crude selling at $75.80 per barrel and Brent crude near $79 per barrel.
Gasoline prices in the U.S. rose slightly to about $3.80 per gallon but remain below last month's average of $4.16.
Gasoline price changes lag behind oil prices due to refining time and transportation to gas stations.
The U.S. and other countries released oil from emergency reserves to keep prices lower during the conflict.
The U.S. Strategic Petroleum Reserve is at its lowest level since 1983, limiting emergency supply options.
Market experts say oil prices remain very sensitive to any conflict near the Strait of Hormuz.
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An 18-month certificate of deposit (CD) with a $10,000 deposit can earn savers about $620 to $640 in interest at current rates around 4.15% to 4.20%. While CDs lock the money for the term, they offer a fixed interest rate, whereas high-yield savings accounts offer similar returns with more access but variable rates.
Key Facts
Current top interest rates for 18-month CDs range from 4.15% to 4.20%.
A $10,000 deposit in an 18-month CD at these rates earns roughly $622 to $637 in interest by maturity.
CDs protect the principal and fix the interest rate until January 2028.
Early withdrawal from a CD can result in fees that may reduce or eliminate interest earned.
High-yield savings accounts currently offer rates close to 4.10%, with flexible access to funds.
Savings account rates can change over time, making future interest uncertain.
CDs may be better for those seeking guaranteed returns and who can lock money away temporarily.
Savers might consider dividing money between CDs and savings accounts depending on their needs.
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Federal Reserve officials had different views on the future of the U.S. economy and inflation at their recent meeting. While they agreed to keep interest rates the same for now, some members believe rate increases might be needed if inflation stays high due to factors like strong demand from AI development and global events.
Key Facts
Federal Reserve officials see various possible future paths for the economy and inflation.
All members agreed to keep interest rates unchanged at the last meeting.
Some officials want to raise rates soon because inflation risks remain high.
Others expect inflation to ease as energy prices and tariffs decline.
Inflation may stay above the Fed's 2% target due to strong demand related to AI and global conflicts.
Officials are split on whether interest rates will rise or fall by the end of the year.
Fed Chairman Kevin Warsh did not give a clear forecast or guidance on future rate changes.
The Fed sees risks to inflation as more likely to increase rather than decrease for now.
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The Federal Reserve’s committee decided to keep interest rates the same last month but showed disagreement about future inflation. Some officials think inflation will drop soon, while others worry new technology investments could keep prices high.
Key Facts
The Federal Reserve kept its key interest rate at 3.6% in the latest meeting.
There are 19 officials on the rate-setting committee, with differing views about inflation.
Some officials believe inflation will go down as gas prices drop and tariffs fade.
Others worry large spending on artificial intelligence and tech products may keep inflation high.
Kevin Warsh became the new Federal Reserve Chair, appointed by President Donald Trump.
Jerome Powell, the previous Chair, remains on the committee as a Fed governor until 2028.
President Trump had criticized Powell for not lowering borrowing costs fast enough.
The minutes show no immediate move by Warsh to cut interest rates.
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Illinois’ two largest private water companies, Illinois American Water and Aqua Illinois, are asking regulators to approve significant rate increases and a merger between their parent companies. The Illinois Commerce Commission is reviewing these requests while a consumer group warns the merger could reduce competition and lead to higher prices without service improvement.
Key Facts
Illinois American Water wants to raise rates by $142 million, increasing water bills by about $14 and wastewater bills by about $28 per month for typical customers.
Aqua Illinois has requested a $26.5 million rate increase, which would raise combined water and wastewater bills by about $23 per month.
The two companies’ parent firms, American Water and Essential Utilities, are seeking approval for a merger that would combine the largest private water services in Illinois.
The Citizens Utility Board (CUB), a consumer watchdog, opposes the merger, citing past complaints about high bills and poor service.
If the merger is approved, over 99.99% of Illinois private water utility customers would be served by American Water and its affiliates.
The requested rate hikes are intended to pay for infrastructure upgrades, replacing lead service lines, and improving cybersecurity.
Aqua Illinois customers could see rate increases starting in April 2027, with some bills rising by up to nearly 30%.
The merger, if approved, is expected to be finalized by early 2027.
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