Gasoline prices in the U.S. have risen to an average of $4.54 per gallon, the highest since July 2022. The increase is largely due to disruptions in oil supply caused by the conflict in Iran and concerns about ongoing violence in the Middle East, despite falling crude oil prices.
Key Facts
Gas prices increased by 52% (about $1.56 per gallon) since late February, when the Iran conflict began.
Prices rose in every state in the past week, with the Great Lakes region seeing the largest jumps.
International oil prices (Brent crude) dropped to about $102.83 per barrel; U.S. oil (West Texas Intermediate) fell to $96.11.
The Strait of Hormuz, a major shipping route for 20% of the world’s oil, remains mostly closed due to the conflict.
Experts say gas prices will likely stay high for months, even if a U.S.-Iran deal is reached.
Global oil supplies are low, with inventories near their lowest level since 2018, raising the risk of shortages.
Factors like damaged refineries in the Middle East and increased summer driving also add to higher gas costs.
Forecasts suggest oil prices may remain about $10 higher than before the conflict through the end of the year.
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Spirit Airlines shut down suddenly after failing to get a federal bailout, causing major disruptions in the U.S. travel market. Rival airlines quickly added flights and fares to help passengers, but the loss of Spirit will reduce competition and may lead to higher prices over time.
Key Facts
Spirit Airlines stopped all operations abruptly due to financial trouble and lack of government aid.
Spirit carried over 40 million passengers each year before its shutdown.
Other airlines like JetBlue and Southwest acted quickly to offer flights and special fares for affected passengers.
The collapse removes a large amount of seat availability on many U.S. routes.
Passengers face uncertainty about refunds, especially if they did not use credit cards to book.
Airports lose business and jobs when a major airline closes.
Industry experts warn the disappearance of Spirit will reduce travel options and increase fares long-term.
Rival airlines had been aware of Spirit’s financial issues and had plans ready to respond quickly.
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Mortgage interest rates in May 2026 are lower than they were in previous years but slightly higher than in recent weeks. As of May 6, 2026, the average rate for a 30-year mortgage is 6.37%, and for a 15-year mortgage, it is 5.87%, according to Zillow.
Key Facts
The 30-year mortgage average rate on May 6, 2026, is 6.37%.
The 15-year mortgage average rate on May 6, 2026, is 5.87%.
The 30-year mortgage refinance rate is 6.72% as of May 6, 2026.
The 15-year refinance rate is 5.81% as of May 6, 2026.
Rates are lower than those recorded in May 2024 and May 2025.
Mortgage rates were below 6% in mid-April 2026, which is lower than current rates.
Borrowers can save money by shopping around for the best mortgage rates and lenders online.
Online tools make it easier to compare rates, terms, and closing costs from different lenders.
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Ted Turner, the founder of CNN, died at the age of 87. He created the first 24-hour cable news channel in 1980, which changed how people received news around the world and grew into a large media company.
Key Facts
Ted Turner was born in November 1938 in Cincinnati, Ohio.
He started Turner Broadcasting System and launched CNN in 1980 as the first 24-hour news channel.
CNN gained worldwide fame for its live coverage of the 1990-91 Gulf War.
Turner expanded his media holdings to include channels like TBS, TNT, Cartoon Network, and Turner Classic Movies.
In 1996, Turner Broadcasting merged with Time Warner, making Turner vice chairman.
Turner bought the Atlanta Braves baseball team in 1976, which won the World Series in 1995.
He also owned the Atlanta Hawks (NBA) and Atlanta Thrashers (NHL) teams.
Turner was involved in yachting and won the America’s Cup in 1977 as skipper of the yacht Courageous.
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Ted Turner, who started CNN and built a major media and sports empire, died at age 87. He also saved large areas of land for wildlife and was known for his adventurous life and public personality.
Key Facts
Ted Turner founded CNN, the first 24-hour cable news channel, in 1980.
He owned cable channels like TBS, TNT, and Turner Classic Movies.
Turner owned the Atlanta Braves baseball team for 20 years and the Atlanta Hawks basketball team for 19 years.
The Atlanta Braves won the 1995 World Series under his ownership.
He was a sailor who helped bring the America’s Cup yachting trophy back to the U.S. in 1977.
Turner protected hundreds of thousands of acres of land to save the American bison and other wildlife.
He was open about having Lewy body dementia, a brain disease similar to Alzheimer’s.
Turner was married three times, including to actress Jane Fonda, whom he said was the great love of his life.
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Ted Turner, the founder of CNN and a major figure in US media, died at age 87. He built a large television empire, including the first 24-hour news channel, and later merged his company with Time Warner.
Key Facts
Ted Turner was 87 years old when he died; no cause of death was announced.
He revealed in 2018 that he had Lewy body dementia, a nerve disease.
Turner took over his father’s struggling billboard business and expanded into television in the 1970s.
He created CNN in 1980, the first 24-hour cable news network in the US.
CNN gained popularity during the 1990-1991 Gulf War with live satellite coverage.
Turner’s media company included multiple TV channels like TBS, TNT, Cartoon Network, and Turner Classic Movies.
He merged his Turner Broadcasting System with Time Warner in 1996 and was a major shareholder.
Turner was also known for owning sports teams, his marriage to actress Jane Fonda, yachting, and environmental charity work.
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CBS Mornings Deals offers special discounts on various products that could be useful daily. Viewers can visit cbsdeals.com to buy these items and take advantage of the offers.
Key Facts
CBS Mornings Deals features products with exclusive discounts.
The products shown may become useful in everyday life.
Discounts are available by visiting the website cbsdeals.com.
CBS earns commissions on purchases made through the website.
The deals are presented as part of CBS Mornings programming.
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The new owner of former WH Smith high street stores, renamed TG Jones, plans to close dozens of shops, risking thousands of jobs due to weak sales and rising costs. The company aims to reduce rents and restructure to try to save the business, but the changes need approval from creditors and a court.
Key Facts
Modella Capital bought 480 WH Smith high street stores for £76 million last year and renamed them TG Jones.
Eight stores will close immediately, and the company seeks rent cuts or holidays for many others to avoid further closures.
The chain employs about 5,000 people.
TG Jones has been losing money due to weak consumer spending, higher operating costs, and negative effects from the name change.
Modella plans to invest £35 million as part of the turnaround strategy.
The restructuring requires approval through a creditor vote and court process.
Modella has closed other retail chains recently, including Claire’s and The Original Factory Shop, with significant job losses.
WH Smith’s travel stores were not sold and continue to operate normally.
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Trainline, a UK rail ticket seller, said tensions in the Middle East have reduced rail ticket sales from foreign visitors to Europe. The company expects its revenues to stay flat or decline next year due to these geopolitical issues and other challenges in the UK rail market.
Key Facts
Middle East conflicts, including the US-Iran standoff, are causing fewer foreign visitors to buy European rail tickets.
Airlines have delayed bookings and canceled flights because of concerns over jet fuel supply.
Trainline’s shares dropped after it gave weaker revenue forecasts for 2026-27.
The UK government has frozen rail fares and plans to launch its own ticketing website under Great British Railways.
Contactless payment growth in UK cities may reduce Trainline’s sales.
Trainline’s profits rose 43% to £122m in 2025-26, with revenues up 2% to £453m.
The company now expects revenues between £440m and £455m for 2026-27.
Trainline remains Europe’s most downloaded rail app and is growing in Italy and France.
The outgoing CEO said they are working with the UK government on fair regulation and welcomed new rules helping independent ticket sellers.
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A crème brûlée dessert sold at Aldi stores in seven U.S. states has been recalled because it may contain glass fragments. The U.S. Food and Drug Administration classed this as a Class II recall, meaning the product could cause temporary health problems but serious harm is unlikely.
Key Facts
The recalled product is "Specially Selected Vanilla Crème Brûlée" sold in small glass jars.
About 2,869 cases were distributed in Florida, Illinois, Indiana, Maryland, Michigan, New York, and Virginia.
The recall was initiated by the manufacturer, Lactalis Canada, on April 14, 2026.
The best-before date to check for is May 9, 2026, along with specific product and barcode numbers.
Consumers are advised not to eat the dessert, to check packaging details, and to safely throw it away.
Aldi has also had recent recalls for frozen pizzas and other products due to contamination concerns.
Aldi plans to remove 44 ingredients from its private-label products by the end of 2027 to improve product safety and quality.
Food recalls are common, but shoppers are encouraged to watch for alerts and check products regularly.
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Spirit Airlines has stopped flying, which could affect the prices of flights for people who want to travel cheaply. The average cost of a round-trip flight in the U.S. was $365 last week, the highest price this year. Experts say the shutdown may make flights more expensive for budget travelers.
Key Facts
Spirit Airlines has shut down and stopped all flights.
The average price of a round-trip flight in the U.S. was $365 last week.
This price is the highest for domestic flights so far in 2024.
Spirit Airlines was known for offering cheaper flights.
With Spirit closed, there are fewer low-cost flight options available.
Travelers looking for cheaper flights might find prices going up.
Other airlines may raise prices because there is less competition.
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The Equal Employment Opportunity Commission (EEOC) has filed a lawsuit against The New York Times. The suit says the newspaper did not promote a white male employee because of his race and gender.
Key Facts
The lawsuit was filed by the EEOC, a government agency that enforces laws against workplace discrimination.
The employee who made the complaint is a white male.
The employee claims he was denied a promotion due to his race and gender.
The New York Times is the company being sued.
The complaint focuses on the company’s hiring and promotion practices.
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Making a larger down payment on a home can lower your monthly mortgage payments and reduce the total interest you pay over time. It may also help you qualify for a better mortgage rate, lower private mortgage insurance costs, and make your home offer more attractive to sellers.
Key Facts
Mortgage rates have been around 6% for several months and are not expected to drop below 5% soon.
A larger down payment reduces the amount you borrow, lowering monthly payments (for example, increasing a down payment from $40,000 to $60,000 on a $400,000 home can save over $200 per month).
Putting down 25% to 40% instead of 20% may help get a mortgage interest rate about 0.25% lower.
Larger down payments can reduce or eliminate private mortgage insurance (PMI), which can save $120 to $280 per month on a $400,000 loan.
Some borrowers with bigger down payments may avoid paying for a home appraisal, saving around $500 or more.
A larger down payment builds more home equity, which can be borrowed against later.
Sellers may prefer buyers with larger down payments because it shows stronger financial commitment.
Making a bigger down payment is not right for everyone and depends on individual financial situations.
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Spirit Airlines went bankrupt and stopped all flights after the government blocked its merger with JetBlue. Officials argued the merger would reduce competition and raise prices, but the deal might have saved Spirit and kept low airfares available. The case highlights debates over government rules on company mergers.
Key Facts
Spirit Airlines recently declared bankruptcy and canceled all flights.
JetBlue offered to buy Spirit in 2022 with an all-cash deal of $33 per share.
The merger was blocked by the Department of Justice and state attorneys general.
Senator Elizabeth Warren and others said the merger would lead to fewer flights and higher prices.
Supporters of the merger said it would have helped Spirit survive and kept airfares low.
A judge ended the merger deal after political and legal opposition.
Spirit’s closure caused about 17,000 people to lose jobs.
The case raises questions about how antitrust laws should balance market realities with competition theory.
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UnitedHealthcare will stop requiring prior authorization for about 30% of medical services by the end of 2026. This means doctors and patients will not need to get approval from the insurance company before certain treatments or procedures.
Key Facts
UnitedHealthcare is a major health insurance company in the U.S.
Prior authorization is a process where insurance companies approve medical services before they happen.
UnitedHealthcare plans to remove this step for nearly one-third of services they cover.
The change will take place by the end of 2026.
This move may speed up access to some healthcare services for patients.
It could also reduce paperwork for doctors and patients.
UnitedHealthcare’s decision might influence other insurers to change their policies too.
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Many companies, especially airlines, are adding fuel surcharges to cover rising costs caused by higher fuel prices linked to the war in Iran. This has led to the fastest price increases in over three years for the UK services sector, which includes airlines, retailers, and finance firms.
Key Facts
A survey found that rising fuel costs are causing companies to raise prices quickly, the fastest pace since 2020.
Nearly 60% of firms reported higher costs last month, mainly due to fuel, wages, metals, and plastics.
IAG, which owns British Airways, plans to adjust prices due to higher fuel costs but did not call it a surcharge.
Virgin Atlantic added charges of £360 for business class and £50 for economy tickets because of fuel costs.
The UK services sector makes up about 81% of the economy and saw activity improve slightly in April.
Despite some growth, business confidence remains low because of the Iran war causing energy supply problems.
The Bank of England faces pressure to raise interest rates again to control inflation caused by rising fuel prices.
Oil prices have been volatile due to tensions and blockades in the Strait of Hormuz, which controls 20% of global oil supply.
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Hotel bookings in US cities hosting the 2026 FIFA World Cup are much lower than expected, according to a survey from the American Hotel and Lodging Association (AHLA). Issues like visa restrictions and global political concerns are reducing the number of international travelers, causing problems for the hotel industry ahead of the event.
Key Facts
The AHLA surveyed hotel members in 11 US cities hosting World Cup matches.
80% of respondents said bookings were below early predictions.
About 65% pointed to visa difficulties and global politics as reasons for lower demand.
The US is cohosting the World Cup with Mexico and Canada; matches start June 11 in Mexico City.
President Donald Trump has promoted the US as a World Cup host but has also tightened visa policies.
FIFA ticket holders will still face strict visa checks despite assurances from the Trump administration.
Some hotel bookings by FIFA were cancelled, causing misleading early booking numbers.
Cities like Kansas City saw bookings below normal summer levels, and some cities called the tournament a “non-event” so far.
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JD Wetherspoon, a UK pub chain, warned it might earn less profit this year because of rising costs like energy, food, wages, and taxes. The company has issued its third profit warning in 2024 and expects higher expenses due to new taxes and ongoing global issues affecting prices.
Key Facts
JD Wetherspoon operates about 800 pubs in the UK and Ireland.
The company expects pre-tax profit to fall to around £73 million, down from £81 million last year.
Rising costs include energy, food, higher minimum wages, business rates, and national insurance contributions.
Additional tax costs include a £1.6 million packaging tax called the producer responsibility levy.
The conflict involving the US, Israel, and Iran has increased energy prices, raising heating and food costs.
JD Wetherspoon’s sales at existing pubs grew by 3.4% in early 2024 compared to the previous year.
The company faces a high debt level, with net debt expected between £740 million and £760 million by year-end.
Shares in JD Wetherspoon increased slightly despite the profit warning, reflecting steady sales demand.
Diageo, a major drinks company, noted concerns about geopolitical problems but kept its profit forecast unchanged.
Diageo’s sales rose 0.3% in early 2024, helped by customers buying drinks ahead of the FIFA World Cup.
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The article discusses concerns about Amazon's control of the online book market, especially in the context of controversies over banning books. It suggests that the government has the authority to regulate or break up Amazon’s online bookstore to address these issues.
Key Facts
Amazon has a large share of the online book market.
There have been controversies about books being banned on the platform.
Some people believe this shows problems with Amazon’s control over books.
The federal government can take action to regulate or break up companies.
The article suggests that government intervention could help with book availability and choice.
Breaking up a company means separating it into smaller parts to reduce its power.
Amazon’s control affects both book sellers and buyers on the internet.
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Campaigners want the UK to ban the use of glyphosate weedkiller to dry crops just before harvest, due to concerns it may leave harmful residues in food. The government will soon decide whether to allow its use after the current license ends in December 2026, following a public consultation this summer.
Key Facts
Glyphosate is a chemical weedkiller used by some farmers to dry crops before harvest.
Campaigners and the Soil Association say this practice leaves glyphosate residues in foods like bread, cereals, and beer.
Some scientific studies suggest glyphosate could be linked to cancer and other health problems.
The EU banned using glyphosate as a crop drying agent in 2023, but it remains allowed for other uses there.
The UK government’s Health and Safety Executive (HSE) will hold a two-month consultation this summer on renewing glyphosate’s approval.
Some farmers and farming groups support glyphosate, saying it helps control weeds, reduce disease, and lower carbon emissions.
Bayer, owner of Monsanto (which originally developed glyphosate), says no regulator has found the chemical causes cancer.
The National Farmers Union calls glyphosate an essential farming tool and wants its approval renewed for 15 years.
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