U.S. airlines spent $6.6 billion on jet fuel in May, which is 84 percent more than the amount spent a year earlier. This marks the second month in a row that airlines have spent more than $6 billion on fuel costs.
Key Facts
Airlines in the U.S. spent $6.6 billion on jet fuel in May.
This amount is 84% higher than the fuel spending in May of the previous year.
Fuel costs exceeded $6 billion for two months in a row (April and May).
The information comes from the Bureau of Transportation Statistics.
Rising fuel costs significantly increase expenses for airlines.
The high cost of jet fuel can impact ticket prices and airline profits.
Jet fuel is the main type of fuel used by airplanes.
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Three people were arrested in an investigation into financial crimes at the University of Greater Manchester, involving fraud, bribery, and money laundering. The police are examining over £1 million linked to about 60 transactions and planning to build a strong case for prosecution.
Key Facts
Three suspects arrested: two men in their 60s and one woman in her 50s.
Suspects face charges including money laundering; both men are also suspected of fraud, and one man is suspected of bribery.
The investigation concerns financial activities at the university from 2014 to 2025.
Authorities discovered misuse of university funds, including buying a heated dog kennel for private use.
Police executed warrants at five addresses in different regions on the same day.
The university was previously known as the University of Bolton and changed its name to the University of Greater Manchester in December 2025.
The Office for Students started investigating the university’s management and governance in December 2026.
The university has nearly 11,000 students and is a major employer in Bolton, contributing to the local economy.
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You can still qualify for debt forgiveness even if you make minimum payments on time. Lenders and debt relief companies focus more on your total debt compared to your income and your overall financial situation rather than only missed payments.
Key Facts
Making minimum payments on credit cards keeps your account current but mostly covers interest, so debt may not decrease.
Debt forgiveness depends on your overall finances, like your income compared to your debt, not just your payment history.
Debt relief companies review debt-to-income ratios and whether you use credit for essential expenses to decide eligibility.
It may be easier to start debt settlement if payments are missed and accounts become delinquent, as creditors may be more willing to negotiate.
Hardship programs with reduced rates or payment pauses generally require showing account stress such as missed payments or financial hardship.
If you are current on payments, you must actively ask for help, as these programs are not automatic.
Stopping payments without a plan can lead to fees, collections, lawsuits, and credit damage.
Talking to a trusted debt relief provider first helps you understand the best options and possible risks.
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President Donald Trump said the agreement with Iran to end conflicts is likely over and warned of more US strikes. This caused global stock markets to drop and oil prices to rise to their highest in two weeks.
Key Facts
President Trump said the US-Iran peace agreement is “over” and hinted at more US strikes soon.
The Dow dropped 0.8%, Nasdaq 0.2%, and S&P 500 0.5% after his comments.
Brent crude oil price rose 4.2% to $77.24 a barrel, the highest in two weeks.
Oil prices had been falling recently as hopes for peace increased.
US gasoline prices dropped from $4.48 to $3.79 per gallon since May but may rise again.
President Trump said the US produces more oil than Russia and Saudi Arabia combined.
Airlines stocks fell due to expected higher fuel costs; energy company stocks rose.
Iran’s Revolutionary Guard said it targeted US military sites in response to strikes.
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The UK Treasury has not yet studied how to fund the plan to increase defence spending to 3.5% of GDP as promised to NATO. Officials said decisions on funding will be made by the next prime minister, and the government currently targets 3% defence spending by the next parliament.
Key Facts
The UK promised NATO to spend 3.5% of GDP on defence by 2035.
The Treasury has done no detailed analysis on how to pay for this increase.
Funding decisions and trade-offs will be left to the next prime minister and future government.
The government aims to reach 3% defence spending in the next parliament.
Recent defence secretary John Healey resigned partly due to unclear future defence funding plans.
Additional billions will need to come from budget cuts or new taxes, possibly requiring public agreement.
The Defence Investment Plan adds £15 billion over four years, raising spending to 2.7% of GDP.
Treasury and Ministry of Defence officials said their working relationship has improved recently.
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Oil prices rose sharply to their highest level in almost two months after Iran attacked several tankers near the strait of Hormuz. The attacks disrupted shipping in a key route for global oil, causing concerns about supply and pushing energy prices higher.
Key Facts
Brent crude oil price increased by 5% to over $78 a barrel after tanker attacks near the strait of Hormuz.
Iran attacked at least three fossil fuel tankers in 48 hours, including one carrying liquefied natural gas.
Tanker traffic through the strait has mostly stopped due to safety concerns.
President Donald Trump declared that the ceasefire deal with Iran was over following these incidents.
The strait of Hormuz is a vital route that handles around 20 million barrels of oil per day from Gulf producers.
European gas prices also rose sharply, with Dutch and UK benchmarks increasing significantly.
The attacks and price rises may increase household energy costs, especially in the UK.
Despite the disruption, analysts say global oil markets have adapted and do not expect prices to return quickly to over $100 a barrel.
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A consumer group, Which?, found 150 unsafe baby products still sold by third-party sellers on UK online marketplaces like Amazon, eBay, and TikTok. These products, including self-feeders, pillows, and sleeping bags, have safety warnings or recalls, but remain available despite government alerts.
Key Facts
Which? identified 150 unsafe baby products for sale on eight online marketplaces such as Amazon, eBay, TikTok, Alibaba, and Etsy.
The products include baby self-feeding devices, pillows for newborns, and sleeping bags with safety risks like choking, suffocation, or overheating.
Over a third of the unsafe items were bottle-feeders that pose a choking hazard, some using long straws or pillows designed to fasten around a baby's neck.
These products continued to be sold despite safety warnings and recalls issued by the UK Office for Product Safety and Standards (OPSS).
The OPSS issued alerts in 2022 and 2023 about these unsafe baby items and urged their removal from sale.
Which? called on the government to make online marketplaces legally responsible for the safety of products sold through their sites.
Several marketplaces stated they removed flagged items and monitor product safety, but Which? says dangerous products are still available.
Parents are advised not to buy baby self-feeders or sleep pillows and to follow NHS and charity guidelines for safe infant sleep.
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Dolly Parton’s new musical, called “Dolly: A True Original Musical,” will start preview shows on December 7 in New York City. The musical celebrates her life and career.
Key Facts
The musical is titled “Dolly: A True Original Musical.”
It stars Dolly Parton and is based on her life.
Preview performances start on December 7.
The show will be staged in New York City.
It is a Broadway musical, meaning it is a major professional theater production in NYC.
The musical marks an important project for Dolly Parton’s career outside of music recordings.
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CBS Mornings Deals is offering special discounts on products aimed at improving daily life. Customers can visit cbsdeals.com to find and buy these discounted items.
Key Facts
CBS Mornings Deals features products with exclusive discounts.
The items are designed to help improve everyday lifestyle.
Shoppers can access the deals by visiting cbsdeals.com.
CBS earns commissions when customers purchase through their website.
The promotion was shown on CBS Mornings, a news program.
The service is linked to CBS News and their app.
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Chef Antonia Lofaso has a new TV show called "Kitchen Undercover." In the show, she helps restaurants that are having a hard time to improve and succeed again.
Key Facts
The show is called "Kitchen Undercover."
Chef Antonia Lofaso is the host and helper on the show.
The focus is on restaurants that are struggling.
Lofaso works to guide these restaurants back to success.
She explained her work on "CBS Mornings."
The show aims to support the restaurant industry.
It is featured on CBS News platforms.
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Many companies are using artificial intelligence (AI) to replace middle managers who used to handle data, communicate between teams, and track work progress. Experts say that while AI can improve efficiency, the loss of middle managers may hurt employee communication, trust, and overall workplace health.
Key Facts
Middle managers traditionally handle data collection, communication between senior leaders and teams, and tracking task progress.
Amazon laid off 14,000 middle managers last year as part of workforce changes.
AI can perform some middle management tasks faster and cheaper than humans.
Psychologist Dr. Shannon Franklin says middle managers also help employees understand changes, address problems early, and build teamwork, which AI cannot do.
Removing middle managers can lead to less employee communication and reduced trust at work.
Companies might gain some efficiency but risk lowering employee engagement and resilience to challenges.
A McKinsey report showed the demand for AI-related skills grew quickly between 2023 and 2025.
Experts believe middle managers will not disappear but will need to combine managing people, work, and AI technology in the future.
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Oil prices rose more than 5% after President Donald Trump said he believes the agreement with Iran is finished. This came amid renewed military strikes in the Middle East, which also caused U.S. stock markets to fall.
Key Facts
Brent crude oil prices jumped to nearly $78 per barrel in early trading.
The Dow Jones dropped 600 points (1.1%), the S&P 500 fell 0.6%, and the Nasdaq declined 0.4%.
President Trump said the U.S.-Iran agreement is likely over but said negotiations with Iran will continue.
Iran launched attacks on 85 U.S. military sites in Kuwait and Bahrain as retaliation for U.S. airstrikes.
The U.S. responded with airstrikes on over 80 Iranian targets after Iran attacked commercial ships near the Strait of Hormuz.
The Strait of Hormuz, a key oil shipping route, had been closed by Iran earlier in the conflict, causing high oil prices.
A prior U.S.-Iran deal allowed commercial ships through the strait toll-free for 60 days, which helped lower oil prices before tensions rose again.
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A growing number of young people with advanced degrees are starting full-time businesses at markets in Britain. Many of these entrepreneurs have master's degrees, PhDs, or professional qualifications and have chosen market trading as a career instead of traditional jobs.
Key Facts
One in five young market traders in Britain holds a master's degree, PhD, or medical doctorate.
Nearly 75% of founders in Kerb’s street food markets have university degrees, with 25% holding postgraduate qualifications.
About 95% of these market traders work full-time in their businesses, not just as part-time side jobs.
The traders include former professionals like lawyers, architects, bankers, nurses, and students with PhDs.
This trend has emerged mainly in the last two to three years.
Many young graduates see market trading as a way to avoid uncertain job markets and to build their own businesses.
Entrepreneurs find market trading offers opportunities that are less likely to be affected by automation and AI.
Some sellers emphasize the value of in-person sales over online shops for their products.
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Debt relief can help reduce some types of debt, but it does not erase all debts. Different debt relief methods work in different ways, and some debts do not qualify for relief.
Key Facts
Debt relief includes several options like debt settlement, debt management, debt consolidation, and bankruptcy.
Debt settlement means negotiating with creditors to pay less than the full amount owed, often between 30% and 50% less, but only for debts creditors agree to settle.
To seek debt settlement, people usually pause payments and save money to pay a lump sum for settlements, which can cause late fees and harm credit scores.
Debt management plans involve negotiating lower interest rates and combining payments but do not reduce the total debt amount.
Debt consolidation replaces multiple debts with one loan, ideally with a lower interest rate, but does not erase debt.
Bankruptcy can erase some debts but typically does not affect student loans, most tax debts, child support, or alimony, and it stays on credit reports for up to 10 years.
Not all creditors agree to debt settlement, so some debts may remain unpaid or go to collections or legal action.
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Stocks fell sharply after President Trump announced that the ceasefire with Iran is over. Oil prices rose more than 6% due to fears that new conflict could disrupt oil supply through the Strait of Hormuz.
Key Facts
President Trump said the ceasefire with Iran has ended and called dealing with Iran a waste of time.
Iran's Islamic Revolutionary Guard Corps attacked three oil tankers in the Strait of Hormuz, and the U.S. responded with strikes.
Brent crude oil price rose 6.3% to $78.80 per barrel; West Texas Intermediate oil rose 6.4% to $75 per barrel.
Major U.S. stock indexes dropped: Dow Jones fell 479 points (0.9%), S&P 500 down 0.4%, Nasdaq declined 0.2%.
The U.S. government revoked a recent waiver allowing Iranian oil sales, tightening sanctions after the tanker attacks.
Higher oil prices could increase inflation by raising gas and transport costs, complicating economic recovery and possibly leading to higher interest rates.
Experts say the ceasefire was fragile and the market is uncertain if the conflict will escalate or calm down.
Some analysts believe the White House prefers a diplomatic solution and expects the situation to stabilize eventually.
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A recent study shows that about half of millennials feel they must choose between financial stability and having children. Younger generations, including Millennials and Gen Z, experience financial stress when deciding whether to become parents.
Key Facts
Around 50% of millennials report feeling pressure to decide between financial security and starting a family.
Both Millennials and Gen Z face financial challenges related to having children.
The study highlights a connection between economic concerns and family planning among young adults.
Financial stability is a key factor influencing the decision to become a parent.
CBS News business analyst Jill Schlesinger offers advice on handling this kind of pressure.
The information comes from research covered in a CBS News report.
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US companies backed by the government are producing rare earth metals but mostly selling them to Asian countries like Japan and South Korea, because US demand is still low. These metals are important for technologies such as electric vehicles, weapons, and electronics, and the US is trying to develop its own supply chain to reduce dependence on China.
Key Facts
US rare earth companies MP Materials, Energy Fuels, and Phoenix Tailings have received billions in government support.
These companies are selling rare earth metals mainly to Japanese and South Korean manufacturers.
China currently controls much of the global rare earth supply and has limited exports, causing concern for US national security.
Rare earth metals are used in many technologies, including electric vehicle batteries, weapons, and electronics.
MP Materials leads US rare earth production and sells most of its products through a deal with a Japanese company.
Energy Fuels plans to send oxides to South Korea and is acquiring companies in South Korea and Germany to expand production.
The US produces far fewer rare earth magnets than Japan, South Korea, and China.
The US government is pushing to grow the domestic rare earth industry but it will take time.
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Specialty farmers, who grow fruits and vegetables, are facing challenges due to extreme heat caused by human-driven climate change. They are adjusting their farming practices, such as changing harvest times and protecting crops, to deal with hotter and more unpredictable weather.
Key Facts
A recent heat dome brought intense heat and humidity to some farming areas.
This heat is part of a larger pattern of extreme weather linked to climate change.
Specialty farmers often do not have the same financial protections as large commodity crop growers when weather is bad.
Farmers like Annie Woods work during cooler parts of the day and take steps to protect themselves and their crops from heat.
Extreme heat can damage crop quality and lead to faster ripening or crop loss.
Heat and humidity also increase risks of plant diseases and pests.
Farmers use greenhouses with fans and keep seedlings in cooler places to help young plants survive.
Protecting crops and changing harvest schedules are key ways farmers adapt to climate-related challenges.
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The article explains how people can find bank accounts they have lost track of. A finance expert, Laura Pomfret, gives tips on how to locate these accounts.
Key Facts
The article is about finding lost bank accounts.
Laura Pomfret, a finance expert, provides advice on this topic.
The information is presented in a video format.
The video requires JavaScript enabled to play.
It is available with subtitles on BBC iPlayer, in the Morning Live program from 08/07/2026.
The article was published very recently, just 16 minutes ago.
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Slate is building a new factory in Warsaw, Indiana to make electric trucks. The factory is almost finished and already producing parts of the trucks, with more production steps planned to start by the end of summer.
Key Facts
Slate’s manufacturing plant has two buildings, West and East, to build electric trucks.
One year ago, the plant was just an empty shell, but now floors and major structures are complete.
The company is making the "body in white," which is the truck frame before painting.
Quality checks include tearing down some frames and using ultrasonic tools to inspect welds.
About 70% of the rust-proofing and baking area is ready, expected to be fully operational by late summer.
Slate will also move parts of its bonding process from a Michigan supplier to the Indiana plant by the end of summer.
The assembly area and production lines for truck parts like chassis and seats are being installed and prepared.
Slate’s vehicle president spends part of her week onsite to oversee the factory progress.
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