Chris Sununu, President and CEO of Airlines for America, said that flight prices are rising because the cost of jet fuel has more than doubled. He linked this increase to higher oil prices caused by the ongoing conflict involving President Trump's actions in Iran.
Key Facts
Flight costs are increasing significantly.
The price of jet fuel has more than doubled recently.
Higher oil prices are connected to tensions between the U.S. and Iran.
President Trump is involved in the current situation with Iran.
Chris Sununu is the President and CEO of Airlines for America, a group that represents airlines.
The airline industry is facing challenges due to these rising fuel and flight costs.
CBS News reported on this issue and provided additional news updates.
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CBS Mornings is promoting special discounts on products through its CBS Deals website. Shoppers can access these exclusive offers online, with CBS earning commissions from sales made through the site.
Key Facts
CBS Mornings features exclusive product deals on their CBS Deals website.
Visitors can buy items online by going to cbsdeals.com.
CBS earns money from commissions when people purchase through their site.
The deals aim to improve everyday lifestyle with selected products.
The promotion is regularly updated with new offers.
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California has passed a new law requiring the state to track pesticides that contain substances called PFAS, often called "forever chemicals." These chemicals are very durable in the environment and may cause health risks.
Key Facts
California is the largest agricultural producer in the U.S.
Governor Gavin Newsom signed AB 1603 into law on Sunday.
The law requires the California Department of Pesticide Regulation to identify pesticides that contain PFAS chemicals.
PFAS stands for per- and polyfluoroalkyl substances.
PFAS are called "forever chemicals" because they do not break down easily and can remain in the environment for a long time.
These chemicals have raised health concerns, including potential links to cancer and other illnesses.
The law aims to improve tracking and possibly regulate pesticide use involving PFAS to protect public health and the environment.
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Billionaire Ken Griffin is donating $3 billion to Carnegie Mellon University, the largest single donation in US education history. The money will support a new campus in Miami and strengthen programs like computer science and financial aid at the Pittsburgh campus.
Key Facts
Ken Griffin is the founder and CEO of Citadel, a highly profitable hedge fund.
$3 billion donation is the biggest single gift ever given to a U.S. university.
Funds will be used to build a new campus in Miami and enhance Carnegie Mellon’s Pittsburgh campus.
The Miami campus will open in 2027 and focus on solving big social challenges like health, security, and climate.
$1 billion of the donation will support Carnegie Mellon’s computer science school, renamed the Kenneth C Griffin School of Computer Science.
Griffin has donated around $2.4 billion to Miami-area causes since moving Citadel’s headquarters there in 2022.
Griffin will join Carnegie Mellon’s board of trustees, which includes other billionaire donors.
The donation reflects growing interest in funding science and tech education as artificial intelligence changes the economy.
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House prices in Australia’s largest cities are falling, with Brisbane and Sydney seeing the biggest drops. Overall, property values have fallen 5.2% from their peak in March, and experts expect prices to fall at least 10% due to recent interest rate increases.
Key Facts
Brisbane home prices dropped 1.5% in September, with every suburb recording lower prices since June.
The median home price in Brisbane is now $1.05 million, down $59,000 since May.
Sydney prices fell 1.4% in September and are down 8.6% from the March peak, about $112,000 less.
Melbourne prices have dropped 7.2% since November 2025, losing around $63,000 in value.
The Reserve Bank of Australia raised interest rates four times this year, making it harder for buyers to borrow money.
Rate increases have reduced the borrowing power of an average wage earner by nearly $47,400.
The Australian government’s first home loan deposit scheme has helped over 102,000 people buy homes since expanding.
Economists warn prices could fall further, possibly by 10-15%, due to rising loan repayments, tax increases, and unemployment risks.
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Choice, a consumer group, tested 29 store-bought mayonnaises in Australia and found Aldi’s cheapest mayonnaise scored highest in taste. Most tested mayonnaises contained sugar, which is not usual in traditional French mayonnaise.
Key Facts
Aldi’s Colway Real Mayonnaise scored 80%, the highest, and costs $2.79 per jar.
Woolworths Whole Egg Mayonnaise also scored 80% but is slightly more expensive.
Aldi’s Colway Authentic Mayonnaise scored 77% and costs 78 cents per 100g.
The worst mayonnaise was Coles 97% Fat Free Mayonnaise with 47%, noted for its off texture and very sweet taste.
Most mayonnaises (27 out of 29) contained sugar, which is not typical for traditional mayonnaise.
Judges evaluated appearance, smell, flavor, texture, and proper mixing of ingredients (emulsification).
Some mayonnaises did not contain egg and were suitable for vegans; Hellmann’s Plant Based Mayo scored 77%.
Kewpie mayonnaise scored 67% and had the highest egg content with a strong soya bean oil flavor.
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BMW has started taking orders in the US for its new 3 Series sedan, which includes its first fully electric model called the i3 50 xDrive, priced at $61,500. The new 3 Series also offers gasoline versions, with prices starting at $49,900, and the electric model is expected to have a range of about 446 to 468 miles on a single charge.
Key Facts
BMW’s new 3 Series is built on a new platform called Neue Klasse.
The fully electric i3 50 xDrive has all-wheel drive with 463 horsepower and will cost $61,500.
The i3 50 xDrive is expected to travel about 446 to 468 miles on one battery charge.
Gasoline versions include the 330 ($49,900) and 330 xDrive ($51,900), both with 2.0-liter mild hybrid engines.
The M350 xDrive, powered by a 3.0-liter six-cylinder engine, will cost $65,900 and offers special driving features.
The electric i3 uses a new battery design to increase energy storage and efficiency.
BMW plans to release other electric versions, including an M3 with four motors, in the future.
The first new 3 Series cars will arrive in US showrooms in early 2027.
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A private collection of Impressionist and post-Impressionist paintings, including works by Vincent van Gogh and Paul Cézanne, will be auctioned in New York. Some paintings have not been seen publicly for over 50 years and are expected to reach very high prices, with van Gogh's piece estimated at $180 million.
Key Facts
Twelve artworks by famous artists, such as van Gogh, Cézanne, Monet, Degas, and Renoir, will be auctioned.
The paintings come from the Blaquier-Arrieta collection in South America, owned by the late Argentine collectors Nelly Arrieta de Blaquier and Carlos Pedro Blaquier.
The auction will take place on November 18 in New York at Sotheby’s auction house.
Van Gogh’s painting "Chestnut Trees in Flower" is estimated to sell for $180 million.
Cézanne’s portrait "Harlequin" is estimated at $120 million and has not been shown in public for 50 years.
The collection is compared to a small version of the Musée d’Orsay in Paris, known for its famous Impressionist art.
Experts say this collection is very rare because the works were never loaned or displayed publicly before.
Buyers are expected from around the world, including tech billionaires and wealthy institutions from multiple continents.
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Salata Dressings, LLC has recalled its Jalapeño Avocado Salad Dressing distributed in Georgia, North Carolina, and Texas because it might contain Salmonella, a bacteria that can cause serious illness. The U.S. Food and Drug Administration (FDA) has classified this recall as Class I, the most serious level, indicating a risk of severe health problems or death.
Key Facts
The recall involves 1,724 cases of Jalapeño Avocado Dressing in bottles and one-gallon jugs with expiration dates in October and November 2026.
The possible contamination comes from diced jalapeños supplied to Salata that may carry Salmonella and are linked to a wider Salmonella outbreak.
The recall began voluntarily by Salata on August 6 and was officially announced on August 11, with the FDA giving the highest risk classification on September 29.
The dressing was sold in Georgia, North Carolina, and Texas, including at HEB grocery stores in Texas.
Consumers are advised not to eat the product and to return it for a full refund, and to clean any surfaces that have touched the dressing.
Separately, the FDA also gave a Class I recall status to a popcorn product from Coco G’s due to Salmonella concerns in Illinois and Wisconsin.
Salmonella can cause illness with symptoms like diarrhea, fever, and stomach cramps.
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UK household incomes grew faster than first thought in the first half of the year, helped by stronger economic growth. The UK economy grew by 0.5% in the second quarter, matching the US growth rate, and businesses increased their investments.
Key Facts
UK household income per person rose by 1.1% between January and June 2024.
The UK economy grew by 0.5% from April to June, revised up from 0.4%.
UK economic growth in the first quarter was 0.6%.
Business investment rose by 1.8% in the second quarter and was 5.2% higher than the same quarter last year.
The savings rate increased slightly from 8.6% to 8.8% in the second quarter.
The UK currency (sterling) reached a six-week high against the euro and a one-week high against the US dollar.
UK government bond yields fell slightly on the positive economic news and lower oil prices.
Inflation stands at 3.1%, above the Bank of England’s 2% target, which may lead to higher interest rates.
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The reported annual inflation rate of 3.4 percent in August 2026 seems low compared to the 9 percent peak during the pandemic. However, the actual everyday costs for people are increasing more than this number shows.
Key Facts
Inflation means the general rise in prices for goods and services over time.
In August 2026, the official inflation rate was 3.4 percent annually.
During the pandemic, inflation reached a high of 9 percent.
The lower inflation rate now suggests prices are rising more slowly.
Despite this, many people feel daily expenses are still going up quickly.
This difference shows inflation numbers may not fully reflect real costs people face.
Factors like housing, food, and energy prices can affect how affordable life feels to individuals.
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The U.S. economy grew by 2.2% in the second quarter, a faster rate than earlier estimated. This growth was driven mainly by strong consumer spending and business investments.
Key Facts
The U.S. economy grew 2.2% from April to June.
This growth rate was revised up from an earlier estimate of 1.5%.
Economic growth slowed down from the 2.5% rate seen in the first quarter.
Consumer spending rose 3.8% in the second quarter, much higher than the 0.7% increase in the first quarter.
Consumer spending makes up about 70% of the U.S. economy.
The U.S. Commerce Department provided this updated data.
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Ken Griffin, who started and leads the investment firm Citadel, is giving $3 billion to Carnegie Mellon University. This is the biggest single gift ever given to a college or university and the largest donation Griffin has ever made.
Key Facts
Ken Griffin is the founder and CEO of Citadel, a major investment company.
He is donating $3 billion to Carnegie Mellon University.
This gift is the largest individual donation in the history of higher education.
It is also the largest amount Griffin has ever given to any cause.
Carnegie Mellon thanked Griffin and highlighted the university’s important role in advancing American leadership.
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The U.S. economy grew by 2.2% in the second quarter of 2026, an increase from the earlier estimate of 1.5%. Strong consumer spending and business investments, especially in artificial intelligence, helped boost economic growth.
Key Facts
The economy grew at a 2.2% annual rate from April to June 2026.
This growth rate is a bit slower than the 2.5% growth in the first quarter of 2026.
Consumer spending, which makes up about 70% of the economy, rose by 3.8% in the second quarter.
Imports increased sharply by 12.6%, reducing the GDP growth by about 1.7 percentage points because GDP counts only goods and services made within the U.S.
Business investment, excluding housing, grew 9%, driven by spending on artificial intelligence technologies.
Housing investment rose 2.8%, marking the first increase since late 2024, despite high mortgage rates.
A measure that excludes government spending and trade changes showed the economy growing strongly at 4.6%.
The first official estimate of third-quarter growth will be released on October 29, 2026.
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Greggs, a UK bakery chain, plans to cut 740 jobs and close some of its factories. This move is part of changes to help the company improve its business.
Key Facts
Greggs will reduce its workforce by 740 employees.
Several factories owned by Greggs will be closed.
The changes aim to help the company manage costs and improve efficiency.
Greggs is a well-known bakery chain in the UK.
The announcement was made recently and is part of a business update.
The company sells baked goods such as sandwiches, pastries, and cakes.
The job cuts and factory closures will affect workers in the UK.
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New York had the fastest-growing state economy in the second quarter, with its economy growing at a 4 percent annual rate. Overall, 44 states plus Washington, D.C. saw their economies grow, while six states experienced a decline during this period.
Key Facts
New York’s economy grew 4 percent at an annual rate between April and June.
South Carolina and Delaware followed with 3.5 percent growth each.
Six states had shrinking economies, with West Virginia leading the decline at -2.3 percent.
The overall U.S. economy grew at an annual rate of 1.5 percent in the second quarter, down from 2.1 percent in the first quarter.
The slowdown is linked to a wider trade deficit and rising fuel prices, despite strong consumer spending.
The International Monetary Fund expects U.S. GDP growth to be 1.9 percent in 2025, rise to about 2.3 percent in 2026, and then slow slightly to 2.2 percent in 2027.
Washington state had the fastest growing economy in the first quarter of 2024.
Real gross domestic product (GDP) rose in 44 states and Washington, D.C. during the second quarter of 2024.
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A collection of 63 unseen Oasis recordings, including live shows and soundchecks from the 1990s, was scheduled to be sold at auction but has been withdrawn after the band took legal action. The sale was stopped while the dispute between Oasis and the owner of the tapes is being resolved.
Key Facts
The recordings include 63 live shows and over 100 hours of performances by Oasis from the 1990s.
They were collected by Huw Richards, Oasis' sound engineer from 1994 to 2001.
Littleton Auctions planned to sell the recordings in early October.
Oasis filed a legal injunction to stop the sale of the tapes.
The tapes’ owner, Huw Richards’ son, confirmed they agreed to postpone the auction until the legal issue is solved.
The rest of the auction, including other Oasis memorabilia, will continue as planned.
The auction items include band tour itineraries, original setlists, a guitar played by the band, and a tour parka.
The band does not support the sale of the recordings.
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U.S. manufacturing is growing, but there are still delays and shortages in supplies such as electrical parts, steel, and labor. The government and industries are focusing on improving smaller suppliers so they can support bigger factories and produce parts more efficiently and reliably.
Key Facts
In August 2026, U.S. manufacturing activity was growing, with a PMI (Purchasing Managers’ Index) of 54.6, showing expansion.
Supplier deliveries have been slowing for nine months, causing delays in manufacturing.
There are ongoing shortages in electrical components, steel, labor, and other inputs needed for factories.
Factories depend heavily on smaller manufacturers who make parts, tools, and maintain equipment.
The Small Business Administration (SBA) is working on initiatives to help small suppliers grow and connect with bigger buyers.
Many small suppliers have good skills but need better tools and systems to handle modern manufacturing demands.
Modern factories need suppliers that can deliver parts on time, with consistent quality, and provide clear updates on orders.
Improving measurement technology and modern equipment helps reduce waste and makes production more efficient.
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Arab American businesses in Dearborn, Michigan, are experiencing challenges due to new trade tensions between the U.S. and Canada. Planned expansions into Canada have been put on hold because of tariffs and fewer Canadian visitors crossing the border.
Key Facts
Dearborn, Michigan, has the largest Arab American community in the U.S.
Yemeni cafes, like Qahwah House with 32 branches nationwide, are popular businesses in Dearborn.
Qahwah House paused plans to open in Toronto because of 50% tariffs on Canadian imports announced by President Trump.
Michigan's largest trading partner is Canada, and many businesses rely on Canadian customers.
Canadian visits to the Detroit area dropped by about 30% since early 2025 due to trade tensions.
Ottawa responded with sanctions on U.S. imports starting in September 2025, and recent talks failed to resolve issues.
Many Arab Canadians in Windsor, just across the border from Detroit, have reduced visits to Dearborn restaurants.
Large Michigan companies like Ford also face challenges from tariffs affecting trade with Canada.
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UK banks have been the largest funders of the coal industry in Europe, providing $8.3 billion since 2021, which is more than banks in Germany and France. Barclays and HSBC increased their coal financing during this period, despite making public commitments to reduce such funding.
Key Facts
UK banks provided $8.3 billion in coal-related financing from 2021 to 2025.
German banks gave $4.9 billion, and French banks gave $3.4 billion in the same period.
Barclays’ coal financing rose by 34%, from $1.2 billion in 2022 to $1.6 billion in 2025.
HSBC’s coal financing more than doubled from $200 million to $414 million.
The report was done by Urgewald, a German environmental and human rights group.
Barclays said it does not fund companies with over 30% of revenue from thermal coal and is supporting cleaner energy projects.
HSBC aims to phase out financing for thermal coal power and mining by 2030 in developed markets and by 2040 elsewhere.
Globally, Chinese banks provide the largest share of coal financing, with $289 billion, and funding by US banks also increased.
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