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Business news, market updates, and economic developments
Peacock, a streaming service owned by NBCUniversal, has raised its subscription prices for the fourth time in four years. The company recently became profitable, with growing subscriber numbers and higher advertising revenue, but plans to keep investing heavily in live sports and other content.
Key Facts
Peacock increased its monthly prices by about 18 percent across three subscription plans.
The Select plan went from $8 to $9 per month, the Premium plan from $11 to $13, and the Premium Plus plan from $17 to $20.
Peacock launched in 2020 and has raised its prices four times since then.
The service earned its first profit in the second quarter of 2026, with $189 million in adjusted EBITDA (a measure of earnings).
Peacock’s subscriptions grew by 2 million in that quarter, bringing the total to 48 million subscribers.
Advertising revenue for Peacock increased almost 70 percent in the same period.
NBCUniversal has signed expensive deals to stream live sports, including paying $2.5 billion per year for exclusive rights to about 50 NBA games on Peacock.
Future profits may vary depending on the popularity of new shows and sporting events that appear each quarter.
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Long-term borrowing costs have reached their highest levels in years in major economies like the US and the UK. This rise is mainly due to fears about inflation, government debt, and large investments in Artificial Intelligence (AI), along with higher oil prices caused by tensions in the Middle East.
Key Facts
The US 30-year borrowing rate hit 5.33%, the highest since June 2007.
The UK long-term debt yield rose to 5.85%.
Germany and Japan experienced similar increases in borrowing costs.
Rising oil prices, driven by conflict in the Middle East, are pushing inflation concerns higher.
President Donald Trump warned Oman against interfering with talks to reopen the Strait of Hormuz, affecting oil supply.
Higher borrowing costs could lead to more expensive mortgages, car loans, and loans for companies.
Large investments in AI are creating uncertainty, causing investors to demand higher returns on loans.
UK’s new Labour leader, Andy Burnham, reassured markets he will follow existing government borrowing rules amid concerns about government debt.
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The U.S. government is paying more interest on its debt because borrowing costs have gone up. This means more of the budget will go to interest payments, which are now higher than defense spending.
Key Facts
The government’s annual interest costs have reached $1.2 trillion.
These interest payments are currently more than what the U.S. spends on defense.
The government refinances its debt at current market rates, so higher rates increase interest costs.
Rising interest payments can lead to bigger budget deficits and more borrowing.
The U.S. public debt is about 101% of the country’s total economic output (GDP).
The Congressional Budget Office expects debt to rise to 120% of GDP in 10 years.
Recent government bond auctions have seen the highest yields in over a decade.
If a recession happens, government revenues could fall and spending might increase, leading to more borrowing.
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Mortgage rates have mostly stayed above 6.5% in 2026, recently reaching about 6.75% for a 30-year loan. Experts say rates could drop below 6% only if inflation cools significantly, certain global conflicts ease, and unemployment rises, but these changes are unlikely soon.
Key Facts
Mortgage rates started 2026 near 6% but rose to an average of 6.75% for conventional 30-year loans.
High inflation, geopolitical issues, and uncertainty around Federal Reserve actions have kept rates elevated.
The Federal Reserve's target inflation is 2%, but inflation has been higher and only recently showed slight declines.
For rates to drop below 6%, core inflation must consistently fall, the U.S.-Iran conflict would need resolution, and unemployment could rise to 4.5% or more.
Experts believe a significant rate drop under 6% is unlikely in 2026.
The Federal Reserve is not expected to cut interest rates soon and may even raise them later this year.
The best possible scenario may see mortgage rates fall to the low-to-mid 6% range by the end of 2026.
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Some people who had State Farm insurance last year might get a payment called a dividend. This means State Farm is giving part of its profits back to eligible customers.
Key Facts
State Farm may pay dividends to customers who had insurance last year.
Dividends are payments made to share company profits.
Eligibility depends on having State Farm insurance at any time during the previous year.
The payment amount could start at $10 or possibly be higher.
This is a way for State Farm to return money to its insured customers.
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Senator Jeff Merkley and Representative Lou Correa have introduced the Truth in Labeling Act. The law aims to create clear nationwide rules for recycling labels to stop companies from misleading people about how recyclable their products are.
Key Facts
The Truth in Labeling Act was introduced by Sen. Jeff Merkley and Rep. Lou Correa.
The act proposes clear federal standards for recycling labels on products.
Its goal is to reduce greenwashing, which means companies making false or confusing environmental claims.
Currently, recycling labels in the U.S. can be unclear or misleading to consumers.
The law would help consumers better understand which products are truly recyclable.
Clear labeling could encourage more accurate recycling habits across the country.
The act addresses issues caused by the plastics industry misusing the recycling symbol.
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Two Trump-themed merchandise stores, one near Knoxville, Tennessee, and another in Bensalem, Pennsylvania, have closed due to fewer customers and slower sales following the 2024 election. While Trump-branded products still sell online and in some stores, owners say the energy and interest from the election period have decreased.
Key Facts
The Knoxville store closed because of low business, not retirement or relocation.
Sales spiked after events like the July 2024 assassination attempt on President Trump but have since dropped.
The Bensalem store had been open for six years and closed after the 2024 election ended.
The Bensalem store was a popular spot for Trump supporters in Bucks County, Pennsylvania.
Remaining Trump merchandise stores operate in places like Gatlinburg, Tennessee; North Myrtle Beach, South Carolina; and Trump Tower in New York.
The Trump Organization continues to sell merchandise online and at some golf clubs and resorts.
The closures show how political merchandise sales often drop when elections end.
Retail store closures in 2026 are also affected by inflation and changes in how people shop.
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State Farm is paying out $5 billion to current and past auto insurance customers as a dividend, with refunds averaging about $100 per insured vehicle. These payments come from better financial results in 2025, including fewer claims and lower repair costs, and are being sent automatically without customers needing to apply.
Key Facts
The $5 billion payout is described as the largest in State Farm’s more than 100-year history.
Customers who had State Farm auto insurance at any time during 2025 may qualify for payments.
Payments average about $100 per insured vehicle but vary by state and coverage.
Over 49 million insured vehicles nationwide are expected to be eligible.
Customers with an email on file may receive digital payment notifications, others will get paper checks in the mail.
Distribution of payments began in July 2026 and will continue for several months.
State Farm’s improved financial performance is due to fewer claims and lower auto repair costs.
Because State Farm is a mutual insurer, excess profits are returned to customers instead of shareholders.
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The cost for the U.S. government to borrow money has reached the highest level since 2007. This increase in borrowing costs is raising interest rates on mortgages and credit cards, partly due to higher oil prices and ongoing conflicts affecting global supply.
Key Facts
The 30-year U.S. Treasury bond yield rose to 5.32%, the highest since 2007.
Higher bond yields lead to higher interest rates on consumer loans like mortgages and credit cards.
An ongoing conflict involving Iran has disrupted oil supply, pushing global oil prices above $91 a barrel.
The Strait of Hormuz, a key route for about 20% of the world’s oil, is nearly closed due to the conflict and U.S. actions.
The average gas price in the U.S. increased to $4.06 per gallon, up from $2.98 before the conflict.
Inflation rose by 3.4% in July compared to last year, above the Federal Reserve’s target of 2%.
The Federal Reserve has not increased interest rates yet, fearing it could slow down the economy.
Market expectations show only a 34% chance of a rate hike at the Fed’s next meeting in September.
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Publisher Bonnier Books has ended its relationship with true crime author Christopher Berry-Dee following allegations of violence and sexual abuse, which he denies. Waterstones has also stopped selling his books after the publisher decided to remove his works from the market.
Key Facts
Christopher Berry-Dee is a bestselling true crime author in the UK.
Allegations include domestic violence and sexual assault of a 13-year-old student.
Berry-Dee denies all the accusations and did not give an interview due to health reasons.
Bonnier Books UK will no longer publish or work with Berry-Dee and is ending all contracts with him.
The publisher is actively removing Berry-Dee’s books from stores and third parties.
Waterstones removed Berry-Dee’s books from both physical shops and online sales following Bonnier’s decision.
Berry-Dee admitted in his writing that he has lied to his subjects to gain their trust for his books.
Another publisher, Orion (part of Hachette), recently published one of his books but has not commented on future plans.
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The U.S. government plans to start new tariffs on $20 billion of Canadian goods on Wednesday, including products like hockey sticks and building materials. These tariffs come because of trade disputes between the U.S. and Canada and could raise prices and hurt economies in U.S. border states.
Key Facts
The Trump administration will impose 50% tariffs on certain Canadian exports starting Wednesday.
Products affected include hockey sticks, some clothing, wine, dairy, cement, and plywood.
Some items like energy and fish are not subject to the new tariffs.
The tariffs respond to Canada’s restrictions on U.S. goods like alcohol, dairy, and cars.
Talks between U.S. and Canadian leaders have not made enough progress to stop the tariffs.
The U.S. Chamber of Commerce warned the tariffs could harm both countries’ economies and increase costs for American families.
Research shows U.S. border states with strong Canadian trade ties, such as Minnesota and New York, will be hit hardest.
New York has already seen reduced Canadian tourism and exports due to earlier tariffs, especially near the border.
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Putting $10,000 into a 9-month certificate of deposit (CD) can earn around $300 in interest based on current rates near 4%. CDs offer a fixed interest rate for the term but require keeping the money locked in, while high-yield savings accounts offer similar rates with more flexibility to access funds.
Key Facts
Some 9-month CDs today pay interest rates around 4% to 4.4% annually.
A $10,000 deposit in a 9-month CD at 4.4% interest could earn about $328.
A $10,000 deposit in a 9-month CD at 4.0% interest could earn about $298.
CDs have fixed rates for the term, providing consistent earnings even if rates drop.
Early withdrawal from CDs usually results in penalties, limiting access to the money.
High-yield savings accounts offer rates close to 4%, with more access to funds.
Interest rates for savings accounts can change anytime, unlike fixed CD rates.
Choosing between CDs and savings accounts depends on whether you prefer higher certainty or better access to your money.
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Dreyer's Grand Ice Cream has recalled five flavors of Outshine Fruit Bars because they might have pieces of glass in them. The recalled items are sold across the U.S. in six-count boxes and include strawberry, watermelon, grape, tangerine, and black cherry flavors.
Key Facts
Five Outshine Fruit Bar flavors are recalled: strawberry, watermelon, grape, tangerine, and black cherry.
The bars come in 2.5-ounce sizes and six-count boxes.
The recall is nationwide in the United States.
Dreyer's has not received any reports of injuries or illnesses linked to these bars.
Consumers should throw away the recalled bars or return them for a refund.
The recall is limited only to these five flavors and specific batch codes.
Batch codes and best-before dates cover several production runs through 2027.
No other Outshine products are part of the recall.
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A Caribbean resort owned by Bill Gates is facing a lawsuit demanding $100 million. The company that manages the resort, Four Seasons, is not included in the lawsuit.
Key Facts
Bill Gates owns a resort in the Caribbean.
A legal case has been filed against the resort for $100 million.
The Four Seasons company manages this resort.
Four Seasons is not a defendant in the lawsuit.
The article does not specify the reasons for the lawsuit.
No other parties are mentioned as involved in the case.
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Debt forgiveness on a $30,000 credit card balance can reduce the amount owed by 30% to 50%, potentially saving borrowers thousands of dollars. However, fees charged by debt relief companies and possible taxes on forgiven debt can reduce the actual savings.
Key Facts
Credit card interest rates average about 22%, making balances costly to carry.
Debt forgiveness (debt settlement) can lower a $30,000 balance to between $15,000 and $21,000.
Savings before fees range from $9,000 (30% reduction) to $15,000 (50% reduction).
Debt relief companies typically charge 15% to 25% of the total debt as fees.
Fees on $30,000 debt can total $4,500 to $7,500, reducing net savings.
Forgiven debt over $600 is usually taxable income unless exceptions apply.
Debt management plans lower interest rates but do not reduce the original debt.
Borrowers should compare different debt relief options before deciding.
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CBS Mornings Deals is offering special discounts on products that aim to improve daily life. Customers can find these deals on the website cbsdeals.com, where CBS earns a commission from sales.
Key Facts
CBS Mornings Deals highlights discounted products for everyday use.
The deals are available on the website cbsdeals.com.
CBS earns commissions from purchases made through this site.
The discounts are exclusive to viewers of CBS Mornings Deals.
The promotion encourages people to improve their lifestyle with these products.
Customers can access the deals by visiting the CBS News app or a web browser.
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A group called 1892 Holdings, which includes Jeff Bezos and Eduardo Saverin, has bought about 38% of the Liverpool football club from Fenway Sports Group. The group may also have the option to buy a controlling share in the next year.
Key Facts
1892 Holdings bought nearly 40% (about 38%) of Liverpool Football Club.
The owner group they bought from is Fenway Sports Group (FSG).
Jeff Bezos (Amazon founder) and Eduardo Saverin (Facebook co-founder) are part of 1892 Holdings.
The group is led by Amit Bhatia, a British-Indian businessman.
Amit Bhatia will become Liverpool’s vice-chairman and join the club’s board soon.
The club’s value is estimated between £5 billion and £6 billion.
There is an option for 1892 Holdings to buy a majority (controlling) stake within 12 months, but no formal commitment yet.
Amit Bhatia was previously involved with another football club, Queens Park Rangers, for 18 years.
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The UK government has been warned that the country could run out of gas in the 2030s if action is not taken to secure future supplies. Officials are considering financial support for gas infrastructure to prevent shortages, even as the UK moves toward cleaner energy sources.
Key Facts
The UK risks running out of gas in the 2030s without “unprecedented” government action.
A government consultation found that gas supplies could run dry within a decade in a "high stress scenario."
The government may give financial help to gas storage and pipeline operators to keep infrastructure working.
The UK plans to reduce fossil fuel reliance but expects gas to remain important for many years.
The North Sea supplies about half of the UK's gas; Norway supplies one-third, and the rest comes from imports.
North Sea oil and gas production has been declining for 25 years and is expected to fall by about 5% annually.
The UK used gas for over a third of its energy in 2023 but aims to cut gas use by more than 75% by 2050.
The government is reviewing new oil and gas field projects in the North Sea, with plans to take a practical approach to drilling.
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Gas prices are increasing, and some drivers are paying almost $7 for one gallon of fuel. The rise affects all drivers, but those using a specific type of fuel are facing higher costs.
Key Facts
Gas prices have gone up recently.
Some drivers pay close to $7 per gallon.
The increase impacts different fuel types unequally.
A certain group of drivers is more affected by the price rise.
Fuel costs vary depending on the fuel type used.
Rising gas prices can increase travel and transportation expenses.
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