Comcast has agreed to pay $117.5 million to settle a lawsuit over a data breach that may have exposed customer information in October 2023. Customers affected by the breach and those notified in December 2023 could qualify for payments once the settlement is approved.
Key Facts
Comcast faced a cybersecurity breach in October 2023 that exposed some customer data.
The company agreed to a $117.5 million settlement without admitting wrongdoing.
Eligible customers include those whose data was exposed or who received breach notifications.
Claims for losses due to fraud or identity theft must be filed by August 14 to receive higher payouts.
The maximum payment for documented losses is $10,000 per person.
Customers who do not prove losses can get a cash payment starting at $50.
The settlement final approval is scheduled for July 7, with payments to follow.
The lawsuit said Comcast failed to protect personal information well enough to stop unauthorized access.
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China has agreed to buy 200 Boeing airplanes, with a promise to purchase up to 750 if the deal goes well, according to President Donald Trump. Details about the types of planes and delivery dates are not yet clear, and neither China nor Boeing has officially confirmed the agreement.
Key Facts
President Trump announced China’s agreement to buy 200 Boeing jets, potentially increasing to 750 planes.
The planes will have engines made by GE Aerospace.
Neither the Chinese government nor Boeing has officially confirmed the deal.
Boeing’s CEO and other US business leaders joined President Trump in Beijing to promote trade.
The 200-plane deal could be worth $17 billion to $19 billion, depending on the plane models.
The deal is important for Boeing to compete with Airbus in China’s growing aviation market.
Boeing’s stock fell after the announcement because the order was smaller than expected.
There are concerns in China about after-sales support and US export restrictions for Boeing parts.
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The United States depends heavily on minerals from other countries. However, the country has many mineral resources that are not used because the process to get permission to mine them takes a long time and is complicated. This situation makes the U.S. vulnerable to price changes and supply problems from other countries.
Key Facts
The U.S. imports many minerals needed for industries.
America has its own mineral resources that could be mined.
The permitting process to start mining is long and complex.
This delay prevents the U.S. from using its own mineral supplies fully.
Relying on imports makes the country vulnerable to changes in global markets.
Price increases and supply shocks can harm the U.S. economy and industries.
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Jerome Powell served as chair of the Federal Reserve for eight years. During his time, inflation rose well above the Fed's 2% goal, and interest rates increased to their highest level in 20 years. Unemployment fell to a 50-year low despite rising prices.
Key Facts
Jerome Powell led the Federal Reserve as chair for eight years.
At the start, inflation and interest rates were low, and job growth was slow.
Inflation rose sharply after the COVID-19 pandemic and stayed above 2% for over five years.
The cost of living increased, making items like rent, cars, and groceries more expensive.
The Federal Reserve raised its main short-term interest rate to a 20-year high in 2023.
Unemployment dropped to the lowest level in over 50 years.
Powell will remain on the Federal Reserve board after his term as chair ends.
His leadership faced criticism, including from President Donald Trump.
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Hispanic business owners want to grow their companies, hire more workers, and bring opportunities to their neighborhoods. Republicans have worked to protect these entrepreneurs from higher taxes and supported policies to help their businesses do well.
Key Facts
Hispanic entrepreneurs aim to expand their businesses.
They want to hire more employees.
Their goal is to create opportunities in their communities.
Republicans have acted to prevent tax increases on these business owners.
They also support policies that help Hispanic businesses succeed.
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Jerome Powell is ending his time as the head of the Federal Reserve. Kevin Warsh is expected to become the new chair. The Federal Reserve is the U.S. central bank that helps manage the economy.
Key Facts
Jerome Powell is finishing his role as Federal Reserve chair.
Kevin Warsh is expected to replace Powell as chair.
The Federal Reserve oversees U.S. monetary policy and banking.
The leadership change could affect economic decisions.
Experts are discussing what this transition means for markets.
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This article compares how much money you can earn by putting $25,000 into either a short-term certificate of deposit (CD) or a high-yield savings account in 2024. It shows that which option earns more depends on the length of the term and whether interest rates change during that time.
Key Facts
A short-term CD offers a fixed interest rate locked in for 3, 6, or 9 months.
A high-yield savings account has a variable interest rate that can change based on the Federal Reserve’s actions.
A 3-month CD at 3.90% earns $240.26 in interest; a high-yield savings account at 4.03% earns $248.16.
A 6-month CD at 4.10% earns $507.35; the savings account earns slightly less at $498.77.
A 9-month CD at 4.00% earns $746.31; the savings account earns $751.88.
High-yield savings accounts earn a bit more in two of the three time periods if rates don’t change.
CD earnings are guaranteed, which gives certainty to savers.
The Federal Reserve is expected to keep rates steady through much of 2026, but changes could affect savings account earnings.
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Stock markets around the world fell from record highs as rising oil prices caused concern in the bond market. Technology stocks, especially those linked to artificial intelligence, dropped sharply, and bond yields increased, which can make borrowing more expensive and slow economic growth.
Key Facts
The S&P 500 fell 1.1% from its all-time high set the previous day.
The Dow Jones dropped 518 points (1%), and the Nasdaq fell 1.4% from its record levels.
Technology stocks led the decline, with Nvidia down 3.3%, despite strong gains earlier in the year.
Applied Materials’ stock fell 0.7%, even after reporting better-than-expected profit growth.
Rising oil prices, driven by a war with Iran and the closure of the Strait of Hormuz, pushed Brent crude above $109 per barrel, much higher than the pre-war price of about $70.
Increased oil prices have added to inflation, impacting consumer confidence and costs.
The yield on the 10-year U.S. Treasury note rose from 4.47% to 4.58%, a notable increase, and the 30-year Treasury yield passed 5%, its highest since 2023.
Higher bond yields generally lead to higher loan costs, which can slow down economic activity and reduce stock prices.
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Santa Clara County in California filed a lawsuit against Meta, accusing the company of making money from scam ads that harm people. The lawsuit claims Meta allows many scam ads to run, targeting vulnerable users, and profits from this practice. Meta denies the claim and says it actively works to remove scam ads and partners with law enforcement.
Key Facts
Santa Clara County sued Meta for profiting from scam advertisements generating $7 billion annually.
The lawsuit says Meta only bans scam advertisers if it is 95% sure they are fraudsters.
Ads flagged as likely scams can still run if a fee is paid, according to an investigation.
Scams involve fake financial offers, cryptocurrency fraud, false medical cures, and celebrity impersonations.
California residents lost over $2.5 billion to scams in 2024, with seniors being especially affected.
Meta removed 159 million scam ads last year and works with law enforcement to fight scams.
The lawsuit represents all California residents, as Meta’s main business is in California and Silicon Valley.
Meta faces many lawsuits over issues including privacy, content moderation, and harm to children.
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Honda has experienced a loss of over $9 billion due to reduced electric vehicle (EV) sales in the U.S., caused by changes in government policies. In response, Honda plans to focus more on hybrid cars, which use both a gasoline engine and battery power, and will launch 15 new hybrid models by 2030, mainly for the North American market.
Key Facts
U.S. federal changes reduced EV tax incentives and funding, causing a 28% drop in electric vehicle sales early this year.
Honda reported its first-ever operating loss, with more than $9 billion in financial write-downs.
Honda cancelled plans to build several EV models in Ohio and a joint venture with Sony.
The company plans to develop more hybrid vehicles, which use fewer expensive battery materials compared to full EVs.
Honda aims to launch 15 new hybrid models by 2030, including a full-size SUV for the U.S. market.
Honda will update U.S. factories to produce hybrids and convert some EV battery production lines to hybrid battery lines.
Different regions will get different focus: Japan will get small electric Kei cars, China will focus more on EVs, and India will get mid-size and small vehicles to attract motorcycle users.
Honda’s emphasis on hybrids is based on the belief that hybrids will be key to reducing environmental impact in the future.
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Social Security benefits are protected by federal law from being taken by private creditors after a debt lawsuit. However, once benefits are deposited into a bank account and mixed with other funds, the extra money may be at risk of being taken by creditors. Federal government agencies, like the IRS, can still garnish Social Security for debts such as taxes or unpaid student loans.
Key Facts
Social Security is a main source of income for many older Americans.
Private creditors cannot legally take Social Security benefits directly, even after winning a lawsuit.
Federal law protects benefits before they reach your bank account.
Banks must keep two months’ worth of Social Security funds safe from being frozen or seized.
Once benefits are mixed with other money in the bank, extra funds can be taken by creditors.
The federal government can garnish Social Security benefits for debts like back taxes, federal student loans, or unpaid child support.
If a creditor tries to take your Social Security money wrongly, you have the right to dispute it.
It’s important to inform your bank in writing that the money is from Social Security if a levy occurs.
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Gen Z, people born between 1997 and 2012, are becoming a bigger part of the U.S. housing market despite high home prices and economic challenges. They made up nearly 20% of mortgage requests nationwide from 2024 to 2025, mostly in affordable regions like the Midwest.
Key Facts
Gen Z accounted for 19.9% of mortgage requests from January 2024 to December 2025.
Gen Z’s homebuying increased by 9.9% between 2024 and 2025.
The median age for first-time homebuyers in the U.S. rose to 40 years old last year.
The median U.S. home price was $436,523 in March 2026, up from $295,100 in March 2019.
Mortgage interest rates are higher now, averaging 6.36% for a 30-year fixed loan in May 2026.
The Midwest has the highest share of Gen Z mortgage applicants, with Minneapolis leading at 26.4%.
Coastal cities like Miami and San Francisco have the lowest shares of Gen Z mortgage requests, due to high prices and down payments.
Gen Z mortgage applicants had an average credit score of 674 and a typical down payment around $45,000.
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Hiscox, a UK insurance company, saw its share price rise sharply due to news that Canada’s Intact Financial Corp is considering buying it. This comes during a period of increased foreign interest in British companies, with other firms like Tate & Lyle and Intertek also involved in takeover talks.
Key Facts
Hiscox shares rose by up to 15.3% to a record high after takeover talks were reported.
Intact Financial Corp, a Canadian insurance company, may acquire Hiscox to grow its business.
The takeover report came from the Insurance Post, and Hiscox has not yet commented.
Foreign companies are showing strong interest in buying UK-listed businesses right now.
Tate & Lyle, a UK ingredients company, received a £2.7 billion offer from US firm Ingredion, pushing its shares up 45%.
Intertek, a UK laboratory testing company, is considering a £10.6 billion offer from Swedish investor EQT.
Intertek had previously rejected offers but is now leaning toward recommending the deal to shareholders.
Activist investor Matt Peltz has urged Intertek to accept the takeover offer.
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New York City Mayor Zohran Mamdani announced a new budget plan to eliminate the city’s $12 billion debt without burdening working residents. The plan includes higher taxes on the wealthiest and financial aid from New York State, showing that increasing income is a bigger factor in improving finances than cutting small daily expenses.
Key Facts
NYC’s $12 billion debt will be erased without hurting working New Yorkers.
The budget includes a 2% personal income tax increase on the richest residents.
A $4 billion aid package from Albany greatly helped reduce the debt.
Experts say raising income matters more than cutting small expenses like daily coffee.
Nearly 25% of US households live paycheck to paycheck, with wages not keeping up with inflation.
Increasing income could mean negotiating pay, changing jobs, or creating a second income source.
Cutting small expenses saves money but doesn’t have as large an impact as higher earnings.
Some people struggle to get ahead financially despite reducing spending because wages are stagnant.
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Many people in the U.S. have high credit card debt with interest rates around 22%, causing financial problems. Some try to settle their debt on their own by negotiating with creditors, but this approach has risks like legal action and tax issues.
Key Facts
Credit card debt levels in the U.S. are at record highs.
Average credit card interest rates are close to 22%.
Many borrowers are late on payments and facing collections.
Settling debt means negotiating to pay less than what is owed.
Doing this alone can cause timing mistakes, leading to lawsuits or collections.
Creditors can sue for the full debt and may garnish wages or freeze bank accounts.
Forgiven debt may be taxed as income by the IRS.
Professional help can sometimes prevent legal problems and explain tax rules.
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The U.S. Postal Service is issuing special stamps to celebrate America's 250th birthday. These stamps show the bald eagle at five different stages of its life, from young chick to adult.
Key Facts
The Postal Service is marking the nation's 250th anniversary with new stamps.
The stamps feature the bald eagle, a symbol of the United States.
They show the eagle at five key life stages, including the hatchling and adult.
The stamp launch event took place at the National Eagle Center in Wabasha, Minnesota.
The bald eagle is recognized as a national icon.
These stamps are a special edition to honor this milestone birthday for America.
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Starbucks announced it will lay off 300 corporate workers and close some offices in the United States as part of changes to improve the company. The layoffs will only affect office employees, not workers at coffee shops. Starbucks is also thinking about changes in its offices outside the U.S.
Key Facts
Starbucks will lay off 300 corporate employees in the U.S.
The company plans to close some regional offices in the United States.
The layoffs affect only support staff in areas like marketing, human resources, and supply chain management.
No employees working at Starbucks coffee shops will lose their jobs.
Currently, no international staff are being laid off.
Starbucks is reviewing its corporate structure outside the U.S. but has not made decisions yet.
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Adjustable-rate mortgages (ARMs) currently have lower starting interest rates than fixed-rate mortgages, making monthly payments cheaper at first. However, because ARM rates can change after a few years, borrowers face the risk of higher payments later, especially given today's uncertain economic conditions.
Key Facts
Fixed 30-year mortgage rates are around 6.4%, while 5/1 ARM loans average about 5.6%.
A lower ARM rate can reduce monthly payments by roughly $150 on a $300,000 loan.
ARMs have an initial fixed rate period, after which the rate can change periodically.
Changes in ARM rates depend on market conditions and may increase payments over time.
Experts predict ARM rates could drop further in 2026, but this is not guaranteed.
Economic factors like inflation, oil prices, labor markets, and global conflicts cause interest rates to be volatile.
Borrowers should weigh short-term savings against the potential risk of rising costs in the future when considering ARMs.
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CBS Mornings Deals offers special discounts on everyday items. Viewers can find these deals at cbsdeals.com, where CBS earns a commission on purchases made through the site.
Key Facts
CBS Mornings Deals features products that could be useful daily.
Discounts are available exclusively through the CBS Deals website.
The website to visit for these deals is cbsdeals.com.
CBS earns money when people buy items through their deal site.
The deals were promoted on CBS Mornings, a news and talk show.
The article encourages viewers to take advantage of these special offers.
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President Donald Trump announced that Boeing will sell 200 airplanes to China, a deal made during his recent meeting with China's President Xi Jinping. The deal could increase to 750 planes and also involve General Electric supplying 400 to 450 engines.
Key Facts
Boeing is expected to sell 200 airplanes to China, with the possibility to expand to 750 planes.
The deal was announced by President Donald Trump after his summit with China's President Xi Jinping.
Boeing has not officially commented on the sale, nor has the White House released detailed information.
General Electric is expected to supply 400 to 450 engines for the planes.
Boeing CEO Kelly Ortberg joined President Trump on the trip to Beijing.
Boeing has faced production and safety challenges in 2024, including issues with the 737 Max model.
The U.S. Justice Department restarted then dismissed a criminal case against Boeing related to two fatal Max crashes after Boeing agreed to pay fines and compensate victims.
An eight-week strike by Boeing machinists disrupted production and added financial pressure on the company.
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