Ford is recalling over 177,000 vehicles because of three separate problems. These include issues with windshield wipers in some Mustangs, a drivetrain part in Mustang Mach E models, and a software error in Lincoln and Explorer Hybrid vehicles that affects pedestrian warning sounds.
Key Facts
Ford is issuing recalls for 67,842 Mustang and Mustang GTD vehicles (2024-26 model years) due to windshield wiper and washing system problems.
The wipers in these Mustangs may only work at high speed, and the washer may not work in cold weather.
42,784 Mustang Mach E vehicles (2021-23 model years) are recalled because a pinion shaft could break, risking loss of power or causing the vehicle to roll if the parking brake is off.
66,383 Lincoln Nautilus Hybrid (2024-27) and Explorer Hybrid (2025-27) vehicles are recalled due to software problems that may stop pedestrian warning sounds from working.
Repairs for all recalled vehicles will be done free of charge by Ford dealers.
Owners of affected vehicles will receive letters informing them about the recalls.
The National Highway Traffic Safety Administration (NHTSA) oversees these recalls and assigns recall numbers for tracking.
In June, Ford also recalled over 741,000 vehicles for a separate issue where cars could roll away unexpectedly.
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Growing energy use by data centers is causing electricity prices to rise sharply for factories in the U.S. Rust Belt, especially steel and brick makers. These higher energy costs threaten President Donald Trump’s plan to boost American manufacturing by reducing factory profits and increasing operating expenses.
Key Facts
Data centers, especially those for AI, are increasing electricity demand in the 13-state PJM Interconnection region.
Factory electricity bills have risen faster than bills for homes and other businesses in this region.
The Belden Brick Company’s monthly electricity bill increased from $1,600 to $12,000.
Steel manufacturers in the area are paying tens of millions of dollars more per year in electricity costs.
Electricity makes up 20% to 40% of the cost to produce steel, with electric furnaces using 40 to 200 megawatts each.
Data centers need large amounts of steel, using about 1 million tons per year, but their energy use also raises steelmakers’ costs.
PJM forecasts electricity demand will exceed supply by 6.6 gigawatts starting in 2027, about the output of six nuclear power plants.
The Trump administration has pushed tech companies to help pay for more power infrastructure but faces challenges due to limits on building new wind and solar projects.
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SpaceX has joined the Nasdaq-100 index shortly after its public stock sale, with Nasdaq waiving its usual three-month trading rule. The Nasdaq-100 tracks the largest tech and non-financial companies on the Nasdaq exchange, while the Dow Jones Industrial Average includes 30 well-established companies from various industries.
Key Facts
SpaceX recently went public through an initial public offering (IPO).
Nasdaq added SpaceX to its Nasdaq-100 index soon after the IPO, waiving the normal three-month trading requirement.
Nasdaq-100 includes the 100 largest non-financial companies listed on Nasdaq.
The Dow Jones Industrial Average tracks 30 large, well-known companies across different sectors.
Nasdaq-100 companies tend to have more growth potential but also higher risk than Dow companies.
The Dow is often favored for conservative investment strategies due to stable and profitable companies.
Nine companies appear in both the Dow and Nasdaq-100, including Alphabet and Walmart.
Nasdaq listing rules require at least 1.25 million shares traded, a market value of $50 million or more, and a minimum share price of $4.
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George E. Johnson Sr., who created a successful Black hair care company and was the first Black owner of a company listed on the American Stock Exchange, died at age 99. He founded Johnson Products in 1954, which served mainly Black customers and became well-known for products like Afro Sheen and Ultra Sheen.
Key Facts
George E. Johnson Sr. died at his home in Chicago at age 99.
He and his wife started Johnson Products in 1954 with a $250 loan.
Johnson Products catered mainly to Black consumers with hair care brands such as Afro Sheen and Ultra Sheen.
It was the first Black-owned company listed on the American Stock Exchange.
Johnson Products sponsored the 1970s TV show "Soul Train."
Johnson was born in Mississippi in 1927 and moved to Chicago during the First Great Migration.
He also founded Independence Bank and was the first Black board member at Illinois’ utility company Commonwealth Edison.
Johnson created an educational fund granting over 1,000 college scholarships.
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Microsoft is cutting many jobs at its gaming studios id Software and Bethesda as part of a larger reduction in the Xbox division. Around half of id Software’s staff and up to half of Bethesda’s team behind The Elder Scrolls Online were laid off, with Bethesda shifting focus to its strongest game series.
Key Facts
Microsoft announced 3,200 layoffs in its Xbox division.
Around 50% of id Software’s employees, including most coders, were laid off.
Approximately 90 workers lost their jobs at id Software, known for Doom.
Bethesda Studios also faced heavy layoffs, with many employees affected.
Up to half of the developers for The Elder Scrolls Online were laid off.
Bethesda plans to focus more on its main game franchises for growth.
Future projects like Starfield and Elder Scrolls Online may be impacted by staff cuts.
Microsoft said it will lay off an additional 1,600 employees later this year.
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A 3-year certificate of deposit (CD) account currently offers fixed interest rates above 4%, allowing savers to earn a guaranteed return over three years. The interest earned depends on the deposit size, and early withdrawal fees apply if funds are taken out before the term ends.
Key Facts
Current interest rates for 3-year CDs are around 4.15% and are fixed for the full term.
Interest earnings vary by deposit amount; for example, $1,000 earns about $130 and $50,000 earns about $6,487 over three years.
CDs lock your money for a set period, protecting funds while earning interest.
Early withdrawal from a 3-year CD could result in a large fee that reduces or wipes out earned interest.
Inflation is high, making higher fixed rates on CDs attractive for protecting money’s value.
Savers should shop around, including online, to find the best CD rates available.
CDs are not suitable for everyone, especially if access to funds might be needed before maturity.
A 3-year CD provides a balance of higher returns and security compared to some savings accounts or investments.
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Bill O’Reilly encouraged Americans to invest in the stock market despite concerns about rising prices. He said his investments are doing well because of policies from President Donald Trump that benefit large companies, but noted that many Americans do not take part in investing.
Key Facts
Bill O’Reilly spoke on Monday about the U.S. economy and stock market.
He told Americans to invest in the stock market.
O’Reilly described rising prices as something people should not complain about.
He said his own portfolio (investment holdings) is performing well.
O’Reilly credited President Donald Trump’s policies for appealing to large companies.
He pointed out that about 40 percent of Americans do not participate in capitalism, meaning they may not invest or benefit from economic growth.
The message was aimed at encouraging more people to engage with investing and the economy.
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George E. Johnson Sr., who started Johnson Products Company in 1954 and built it into a major Black-owned hair care business, died at age 99 in Chicago. His company was the first Black-owned firm listed on the American Stock Exchange and created popular brands like Afro Sheen and Ultra Sheen.
Key Facts
George E. Johnson Sr. founded Johnson Products Company with a $250 loan on Chicago’s South Side in 1954.
Johnson Products focused on hair care products for Black people.
The company was the first Black-owned business on the American Stock Exchange.
Popular brands included Afro Sheen and Ultra Sheen.
Johnson Products sponsored the 1970s TV show “Soul Train.”
Johnson also founded Independence Bank and served on the board of Illinois electric utility Commonwealth Edison.
Johnson was born in Mississippi in 1927 and moved to Chicago as a child during the First Great Migration.
He published a memoir in 2024 explaining how he changed the hair care industry following the “golden rule” of treating people with respect.
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Chanel held its Haute Couture Fall/Winter 2026-2027 show at the Grand Palais in Paris, designed by Matthieu Blazy, now in his second couture collection as Chanel's creative director. The collection was inspired by fairy tales and the life story of Coco Chanel, blending magical themes with wearable fashion.
Key Facts
The Chanel couture show took place inside the Grand Palais in Paris on July 7, 2026.
Designer Matthieu Blazy drew inspiration from a fairy tale book found in Coco Chanel’s old apartment.
Blazy joined Chanel after working at Bottega Veneta and is in his early tenure leading the couture line.
The collection features motifs like beanstalks, butterflies, flowers, and references to classic fairy tales.
Clothes combined imaginative details with practical designs women can wear daily.
Models of all ages appeared, highlighting inclusivity in the show.
Chanel’s design style includes clean, elegant pieces that stand out by their simplicity.
The show ended with a plain black off-the-shoulder dress, interpreted as a bold statement.
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The U.S. Postal Service will raise the price of a first-class Forever stamp from 78 cents to 82 cents starting Sunday to help reduce financial losses. The USPS has raised stamp prices several times in recent years due to rising costs and fewer mailed letters.
Key Facts
The price of a Forever stamp will increase from 78 cents to 82 cents starting July 12.
Postcards and international postage prices will also go up on the same day.
The USPS is facing financial losses, including a $9 billion loss in fiscal year 2025.
Mail volume in the U.S. fell by 3.7% in the last fiscal year.
The Postal Regulatory Commission approved the price increase but expressed concerns about USPS finances and mail delivery speed.
Some lawmakers have reported problems with delayed mail deliveries in their states.
USPS officials said stamp prices may need to rise further to around 90 to 95 cents to fix financial issues.
Older Forever stamps bought before the increase will still be valid for mailing.
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A $35,000 high-yield savings account earning about 4.10% interest could generate roughly $1,435 in one year without restricting access to the money. This is similar to a 1-year certificate of deposit (CD) with a slightly higher rate, but CDs require the money to be locked in for the term.
Key Facts
A $35,000 high-yield savings account at 4.10% can earn around $353 in 3 months and $1,435 in 12 months.
High-yield savings accounts allow easy access to funds without penalties.
Interest rates on these accounts can change, possibly increasing or decreasing returns.
The Federal Reserve has kept interest rates steady for now, making high rates stable.
A 1-year CD offers about 4.15% interest, earning roughly $1,452 over a year.
CDs lock up your money for a set period, and early withdrawals can result in fees.
The interest difference between the high-yield savings account and the CD is less than $20 over a year.
High-yield savings accounts might be better for savers who want flexibility and competitive returns.
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A recent study shows that in the U.S., wealthy households account for a large and growing share of consumer spending, especially on non-essential items. This spending by the rich is helping keep overall consumer demand high, which may cause inflation to remain at elevated levels despite economic challenges faced by lower-income groups.
Key Facts
Consumer spending makes up about two-thirds of U.S. economic activity.
The top 10% of earners spend at least as much as the bottom 40% in major categories.
On discretionary (non-essential) items, the richest 10% spend almost as much as the bottom 70% combined.
Inflation recently hit a three-year high, but spending stayed strong in May.
The wealthy’s spending behavior heavily influences overall demand and inflation.
This spending pattern reflects a "K-shaped" economy, where richer Americans keep thriving while poorer households spend less.
Federal Reserve Chair Kevin Warsh noted inflation risks have lessened recently due to lower oil prices and easing supply shocks.
The U.S. central bank aims to reduce inflation to its long-term target of 2%.
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If you put $90,000 into a long-term certificate of deposit (CD) this July, you can earn significant interest depending on the term length. CDs pay a fixed interest rate and protect your money until the CD matures, which can range from 18 months to 10 years.
Key Facts
A CD is a savings account with a fixed interest rate that lasts until the set maturity date.
Opening an 18-month CD at 4.20% interest can earn about $5,729 in interest.
A 2-year CD at 4.20% interest can earn about $7,718 in interest.
A 3-year CD at 4.15% interest can earn about $11,677 in interest.
A 5-year CD at 4.20% interest can earn about $20,556 in interest.
A 10-year CD at 4.30% interest can earn about $47,115 in interest.
Early withdrawal from a CD can lead to penalties that reduce your earned interest.
Online banks often offer better CD rates than traditional banks with physical branches.
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Wall Street banks have high expectations for SpaceX’s future, recommending investors buy its stock and predicting significant price growth. However, after a strong start, the stock price has fallen and investors remain cautious about the company’s ambitious plans and current technology readiness.
Key Facts
SpaceX’s shares opened at about $152 on its IPO day in June 2026, briefly rose above $200, and then dropped back close to the opening price.
Many investment banks that helped with the IPO recommend buying the stock and predict it will exceed $200 per share in 12 to 18 months.
SpaceX’s main current revenue comes from its Starlink satellite internet service, with potential growth from AI technology improvements.
The company has completed around 670 orbital launches with Falcon rockets, achieving nearly a 99% success rate.
SpaceX aims to build bigger rockets like Starship for launching larger cargo, such as data centers, and eventually send people to Mars.
Some analysts expect SpaceX’s stock to reach as high as $800 in the long term, comparing its impact to railroads and the Internet.
Starship is still being tested, and no technology currently exists for space-based data centers or Mars colonization.
Delays or problems with Starship launches could significantly affect SpaceX’s stock performance and future plans.
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EasyJet’s board has agreed in principle to sell the airline to the US firm Castlelake for £5.5 billion, or 690p per share. Some people think the board gave up too quickly, while the airline has a solid profit plan and valuable assets that might help it increase its value on its own.
Key Facts
Castlelake, a US investment firm, made several offers to buy EasyJet, starting low and eventually reaching 690p per share.
EasyJet’s board initially rejected lower offers, calling them undervalued.
EasyJet made a 46% profit increase in two years, reaching £665 million by September 2025.
The airline aims to exceed £1 billion in profits in the medium term, despite delays from the Iran conflict.
EasyJet has a growing holidays business that is already profitable.
Newer, fuel-efficient planes are expected to reduce costs and improve profits.
EasyJet owns 208 aircraft and has valuable airport landing slots, which add to its overall value.
EasyJet’s share price has fluctuated but was recently near 586p and could rise if plans succeed.
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Many people face higher electricity bills in summer due to air conditioning. The article explains simple and low-cost ways to keep cooling costs down without buying a new HVAC system.
Key Facts
Raising the thermostat by a few degrees can reduce air conditioning use and lower electricity bills.
Using a programmable or smart thermostat helps adjust temperatures automatically.
Regularly replacing air filters keeps AC systems running efficiently and reduces energy waste.
Homes with pets, smokers, or dust need to change filters more often.
Professional HVAC maintenance can prevent big repairs and improve energy efficiency.
Maintenance includes cleaning coils, checking refrigerant, inspecting electrical parts, and ensuring proper operation.
Blocking heat from entering the house can also reduce cooling needs and lower costs.
These small changes add up to saving money and keeping the home comfortable.
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Many credit card users struggle to pay more than the minimum amount due because credit card interest rates are very high, averaging about 22%. While paying only the minimum keeps accounts current, it causes interest to build up and extends the time needed to pay off debt. There are options like hardship programs, balance transfer cards, debt consolidation loans, and credit counseling that can help manage credit card debt more effectively.
Key Facts
Credit card interest rates average nearly 22%, making debt expensive to carry.
Paying only the minimum amount keeps accounts current but causes interest to increase and repayment to take much longer.
High inflation and rising costs make it harder for many people to pay more than the minimum.
Calling your credit card issuer can lead to hardship programs that lower interest rates or payments temporarily.
Balance transfer credit cards can offer 0% interest for a limited time but usually require good credit and have fees.
Debt consolidation loans can lower interest rates and combine multiple payments into one monthly bill.
Nonprofit credit counseling agencies can create a debt management plan tailored to your budget.
Many people do not realize help options exist unless they ask their lenders or seek advice.
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John Lewis plans to close its in-store gift wrapping and foreign exchange service desks, risking 200 jobs. The company says customers prefer to buy foreign currency online and these changes will happen this autumn, but no final decision has been made yet.
Key Facts
John Lewis may cut 200 jobs by closing gift wrapping and foreign exchange desks in many stores.
The foreign exchange desks operate in 30 stores; gift wrapping desks are in 25 stores.
Customers can still buy foreign currency online and get it delivered or pick it up in stores.
Most customer questions are already handled by shop floor staff, who will continue after closures.
The company is consulting with affected workers and aims to support them during the process.
John Lewis is changing to meet customer preferences for online and modern services.
Last year, the parent company cut 3,300 jobs and has been reducing costs by closing stores and cutting some projects.
In March, the company paid bonuses to employees for the first time in four years after a profit increase.
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Economists say Australia is unlikely to enter a recession despite global oil shocks and a conflict in the Middle East. However, they warn the country will face slow economic growth this year, with weak consumer confidence and rising living costs affecting many households.
Key Facts
Australia avoided a recession despite a major global oil supply shock caused by Middle East tensions.
Global oil prices dropped from $120 to around $72 per barrel and are expected to fall to $60 by year-end.
Inflation is falling but remains around 4%, lower than earlier forecasts.
Unemployment rose slightly to 4.4% over the last three months.
GDP per person is expected to decline for two quarters, indicating a “per capita recession” and a drop in living standards.
Consumer confidence is near a 50-year low due to high prices and inflation.
Interest rates have increased three times early in 2026, raising mortgage repayments by about $350 per month for average households.
Economic growth may improve in 2027, helped by possible interest rate cuts and growth in data center construction.
Artificial intelligence and government investment in defense are seen as potential future economic drivers starting around 2028.
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Marks & Spencer is updating its refrigeration equipment to handle very high temperatures up to 45°C, responding to more frequent heatwaves in the UK caused by climate change. The company is also investing in security to reduce retail crime and adjusting its fashion lines to attract a wider range of customers.
Key Facts
M&S is buying new fridges designed to work in heat as high as 45°C.
The UK recently had its hottest June day ever, reaching about 37.7°C.
Other retailers, like Sainsbury’s, are also upgrading their cooling equipment due to heatwaves.
M&S saw a big increase in ice cream sales during the heat, causing some items to run out.
The UK faces more extreme heat because of climate change, requiring businesses to prepare.
M&S is increasing spending on security guards and systems to reduce shoplifting and minor thefts.
The company is updating clothing styles to appeal to both older and younger shoppers.
These changes were shared by M&S CEO Stuart Machin at the annual shareholder meeting.
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