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Interest rates for 1-year certificate of deposit (CD) accounts currently range from about 4.15% to 4.25%, making them a good option for savers seeking fixed returns. These rates are higher than most other savings accounts, and locking money in for a year can protect against potential future rate cuts by the Federal Reserve.
Key Facts
The Federal Reserve recently paused interest rate changes but may cut rates later this year due to slowing inflation.
1-year CD rates vary by bank, with online banks often offering better rates than traditional banks.
Good 1-year CD interest rates currently range roughly between 4.15% and 4.25%.
Some banks offer rates as low as 4.00% or as high as 4.30% or more depending on account terms.
CD rates are fixed, meaning they stay the same for the full year, unlike variable-rate savings accounts.
High-yield savings accounts pay up to about 4.10%, money market accounts 3.90% to 4.00%, and traditional savings accounts around 0.38%.
Early withdrawal from a CD can lead to fees that may eliminate the interest earned.
Savers should shop around and be sure they can keep funds locked in the CD for the entire term before investing.
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Randall Lane, the top editor of Forbes, was fired after reports showed he accepted $6 million from a business associate whose company partners with Forbes. Lane admitted he should have disclosed the payment and said it was a mistake that cost him his job.
Key Facts
Randall Lane worked at Forbes for nearly 16 years and was the top editor since 2017.
He received $6 million from RJ Shook, founder of Shook Research, a company that works with Forbes on wealth adviser rankings.
The payment came after Shook sold a majority stake to a private equity firm.
Forbes staff learned about the reasons for Lane’s departure from a New York Times story.
Lane called the payment a gift for advice he gave Shook over time but failed to disclose it.
Forbes policy forbids staff from accepting money or favors from people or companies they cover.
Forbes did not provide further comments on the situation.
Public trust in the media is low, with 57% of Americans lacking confidence in journalists acting in the public’s best interest.
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The Academy Museum will honor actors Colman Domingo, Charlize Theron, and filmmaker John Carpenter at its annual gala on October 17 in Los Angeles. The event raises money to support the museum’s exhibitions and public programs.
Key Facts
The gala is held every year and is now in its sixth year.
It is a major fundraising event for the Academy Museum.
Honorees this year are Colman Domingo, Charlize Theron, and John Carpenter.
The gala will take place on October 17, 2026, in Los Angeles.
The event is known for attracting many famous celebrities.
Charlize Theron will join a talk with the museum’s teen council and a screening of “Mad Max: Fury Road.”
John Carpenter will have three nights of screenings, including the film “Halloween.”
Last year’s gala raised over $12 million to support the museum.
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UK universities are facing serious money problems because the number of international students applying has dropped a lot. This will reduce important income and could lead to job losses and cuts in courses. University leaders want the government to change the fee rules that make it harder to attract international students.
Key Facts
International student visa applications fell by 11% compared to the previous year.
Some universities fear international enrolment could drop by as much as 30%.
Every five international students help support one university job, so fewer students means possible job cuts.
Domestic undergraduate fees have been frozen at £9,250 from 2017 to 2025, losing value due to inflation.
Universities must pay a £925 levy (a fee) on each international student, reducing their income.
The University of Exeter is ending some geography courses immediately due to financial pressure.
A former universities minister said there is a risk some universities could fail financially.
Russell Group universities warn that government policies, like the student fee levy, threaten their ability to attract international students.
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BAE Systems will pay a $36 million fine for breaking U.S. arms export rules more than 100 times. The company shared technical data and defense-related information with several countries without proper permission and agreed to improve its compliance program as part of the settlement.
Key Facts
BAE Systems violated the U.S. Arms Export Control Act and International Traffic in Arms Regulations 104 times.
Violations included unauthorized exports of technical data to countries such as China, Canada, the UK, Germany, Switzerland, Italy, France, and Indonesia.
The company voluntarily disclosed all but one violation, which helped reduce the penalty.
Half of the $36 million penalty ($18 million) was suspended on the condition it be used to improve BAE’s export compliance program.
Violations included sending technical data about GPS-related printed wiring boards, explosive mixtures, and U.S. Navy destroyer information without proper licenses.
A subcontractor also provided defense services without authorization multiple times.
BAE Systems acknowledged weaknesses in its supply chain's understanding of export rules and faults in file transfer systems that failed to warn about export controls.
The U.S. Department of State emphasized the importance of getting the correct authorization before exporting defense-related items and information.
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Around 213,500 "Goody King" magnetic building toys sold in the U.S. have been recalled because the magnets inside can come loose and cause serious health risks if swallowed. Two children have already needed surgery due to swallowing these magnets, and consumers are advised to stop using the toys and get a full refund.
Key Facts
The recalled toys are called "Goody King" magnetic building cubes and blocks.
The magnets inside can come loose if the toy breaks or opens.
Swallowing high-powered magnets can cause serious injuries like intestinal blockages, poisoning, or even death.
Two children have had to undergo surgery after swallowing these magnets.
There are at least 27 reports of cubes breaking or opening.
The toys were sold online through Amazon from January 2024 to July 2026.
Sets came in different sizes, from 45 to 300 pieces, costing between $17 and $50.
Consumers can return the product for a full refund, and receipts are not needed.
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The U.S. Army Corps of Engineers has approved a permit for the Line 5 tunnel project in Michigan. This project will move a portion of the oil pipeline from the open water into a tunnel under the lakebed, but it may negatively affect endangered species and cultural sites.
Key Facts
The Army Corps called the project "not contrary to the public interest" and said it does not harm tribal treaty rights.
The project will move the Enbridge Line 5 pipeline through a concrete tunnel under the Straits of Mackinac.
There are concerns about harm to endangered plants like Houghton’s goldenrod and dwarf lake iris.
The project will impact historic and archaeological sites important to the Anishinaabe tribal nations.
State and federal courts are still reviewing permits, and lawsuits against the project are expected.
Enbridge Energy supports the decision and says it will operate the pipeline safely.
Native American groups strongly oppose the project, saying it threatens sacred lands and water.
The approval aligns with President Donald Trump’s goal of supporting fossil fuel energy projects.
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Savers may want to move money out of money market accounts into higher-rate savings options. High-yield savings accounts and certificates of deposit (CDs) currently offer better interest rates and benefits.
Key Facts
Money market accounts usually offer interest rates around 3.90% to 4.00%.
High-yield savings accounts offer slightly higher rates, around 4.10%.
Some CDs provide fixed rates up to 4.40%, protecting against future rate drops.
Unlike money market accounts, CDs have fixed interest rates, giving more predictable returns.
Money market accounts let users write checks, but this feature may not be necessary for everyone.
Savings account choices are important as rates and economic conditions change.
Online tools help compare rates and terms for different savings products to find the best option.
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The July report on the Producer Price Index (PPI) showed that most prices stayed about the same, indicating that inflation pressures are slowing down. This suggests that the rise in prices for goods at the wholesale level may be easing.
Key Facts
The Producer Price Index (PPI) measures the average change over time in prices received by producers for their goods.
In July, most producer prices were flat, meaning they did not increase significantly.
This flatlining of prices suggests inflation is easing compared to previous months.
A slowing PPI can indicate less pressure for consumer prices to rise in the future.
The report was covered by CBS News MoneyWatch correspondent Kelly O'Grady.
This data helps economists and policymakers understand the health of the economy and inflation trends.
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In Lagos, Nigeria, rising fuel prices have led some drivers to choose electric vehicles as a cheaper alternative. However, switching to electric cars is still difficult in Africa’s largest oil producer due to various challenges.
Key Facts
Fuel prices in Nigeria have increased significantly in recent years.
Lagos experiences heavy traffic jams with noisy engines.
Some motorists in Lagos are now using electric vehicles to avoid expensive fuel.
Electric vehicles produce less noise compared to traditional cars.
Nigeria is Africa’s biggest oil-producing country.
Despite this, the shift to electric vehicles faces many obstacles.
Challenges include infrastructure and cost issues for electric cars.
The article highlights a growing interest in electric vehicles amid fuel price rises.
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New research shows that unemployed women who take GLP-1 weight-loss drugs are more likely to find a job and have higher marriage or cohabitation rates after 18 months. However, these drugs do not seem to help women who already have jobs get promoted or earn more money.
Key Facts
Women taking GLP-1 drugs saw a 27% increase in employment after 18 months compared to those who wanted the drugs but did not use them.
Marriage and cohabitation rates rose by 29% for women after 18 months of GLP-1 use.
The study found no evidence that GLP-1 drugs helped employed women get raises or promotions.
The "female obesity penalty" means heavier women often earn less and face more job discrimination.
GLP-1 drugs help reduce visible body weight, which seems to improve job prospects mainly by affecting hiring decisions.
Early users of GLP-1 drugs tend to be financially better off, raising questions about unequal access.
The research suggests weight-loss medication might influence social and economic treatment of women but also raises concerns about using medical treatment to address discrimination.
By the end of 2024, 6% of women had started GLP-1 medication to lose weight, including 9% of women with a history of obesity.
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A new report shows that Elon Musk earned over 2.5 million times more than the average Tesla worker in 2025, highlighting a large gap between CEO and worker pay. The report also notes that President Trump’s income rose significantly in 2025, mainly from cryptocurrency holdings, while many American workers face financial difficulties.
Key Facts
Elon Musk’s total pay in 2025 was $158.3 billion, more than 2.5 million times the pay of an average Tesla employee.
The typical ratio of CEO to worker pay in major companies was 312 to 1 in 2025, increasing from 285 to 1 in 2024.
Including Musk, the average CEO to worker pay ratio rises to 5,387 to 1.
Average CEO pay (excluding Musk) increased from $18.9 million in 2024 to $22.8 million in 2025.
President Trump earned $2.2 billion in 2025, mostly from cryptocurrency, a 254% increase from 2024.
Many US adults face economic challenges: 33% have no retirement savings; 37% can't cover a $400 emergency; 26% skipped medical care due to cost; 23% of renters are behind on rent.
The report claims government policies, particularly a budget bill supported by Republicans, cut social programs while providing tax cuts to corporations and wealthy individuals.
A White House spokesperson said President Trump’s assets are managed independently to avoid conflicts of interest.
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Getting married does not automatically combine the debts that each person has before marriage. Debts held in one spouse’s name remain that person’s responsibility, but jointly taken loans during marriage must be repaid by both spouses. Rules about debts incurred during marriage vary depending on state laws.
Key Facts
Marriage changes some financial responsibilities, but prior debts usually stay individual.
Debts like credit card balances or personal loans kept in one name remain that person's to repay.
Joint loans or mortgages taken out by both spouses must be paid by both.
Divorce agreements may assign one spouse responsibility, but the lender still holds both liable.
In some states called community property states, debts incurred during marriage may be shared even if only one name is on the account.
Debt affecting one spouse can impact the household budget and financial plans.
Couples should understand local laws about debt responsibility.
Seeking debt relief options may help couples struggling with large monthly debt payments.
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U.S. mortgage rates fell slightly for the first time in six weeks but remain higher than they were a year ago. The average 30-year fixed mortgage rate dropped to 6.67%, offering slight relief to homebuyers, while 15-year fixed rates also decreased but stayed above last year’s levels.
Key Facts
The 30-year fixed mortgage rate fell to 6.67% from 6.69% last week.
One year ago, the 30-year rate averaged 6.58%.
The 15-year fixed mortgage rate dropped to 5.96% from 6.01%, but was 5.71% a year ago.
Sales of previously owned homes slowed in July as rising rates affected buyers.
Mortgage rates are influenced by inflation, Federal Reserve policies, and bond market trends.
The 10-year Treasury yield, which helps set mortgage rates, recently eased to 4.61% after reaching 4.72%.
The U.S. war with Iran and rising oil prices earlier in the year pushed mortgage rates up; though oil prices have cooled, rates remain higher than before the conflict.
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Cooluli is recalling about 250,000 small refrigerators because some models can catch fire or overheat. Customers who bought certain 10-liter and 15-liter fridges between 2019 and 2024 should stop using them and get a free repair kit from the company.
Key Facts
Cooluli minifridges from specific older batches are being recalled due to fire and burn risks.
The problem comes from an electric switch that can short circuit and overheat.
There have been at least 19 reports of the fridges sparking, smoking, or catching fire.
Property damage reported from these incidents is more than $80,000.
One person reported smoke inhalation from a recalled fridge.
The recalled models were sold on Cooluli’s website and Amazon for $80 to $120.
Only certain 10-liter and 15-liter models with an internal power supply are affected; newer models are not included.
Customers can check their model online and request a free repair kit by following instructions on Cooluli’s website.
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Putting $100,000 into a 1-year certificate of deposit (CD) will likely earn about $300 more in interest than putting the same amount into a high-yield savings account, based on current rates. However, CDs lock your money for a fixed time and charge a penalty if you withdraw early, while high-yield savings allow easier access but have variable rates that can change.
Key Facts
Inflation in July was 3.4%, higher than the Federal Reserve’s 2% target.
Inflation affects interest rates, which have stayed mostly steady through 2026.
A 1-year CD offers a fixed interest rate of about 4.40%.
A high-yield savings account currently offers about a 4.10% interest rate, which can change over time.
A $100,000 deposit in a CD will earn approximately $4,400 in one year.
A $100,000 deposit in a high-yield savings account will earn about $4,100 if the rate stays constant.
CDs typically require locking in money and have penalties for early withdrawal.
High-yield savings accounts allow easier access to funds but have variable interest rates.
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Many people carry large amounts of credit card debt, making it hard to pay off because of high interest rates. Debt settlement can reduce the amount owed, but fees from debt relief companies cut into the savings.
Key Facts
Credit card debt in the U.S. reached $1.26 trillion in the second quarter of 2026.
Average credit card interest rates are about 22%.
Debt settlement typically reduces balances by 30% to 50%.
For $15,000 debt, settling could cost between $7,500 and $10,500 before fees.
Debt relief companies charge fees from 15% to 25% of the total debt enrolled.
For $15,000 debt, fees would be $2,250 to $3,750 depending on the rate.
After fees, total costs are higher, which reduces net savings.
Debt settlement might be a good option for those who cannot keep up with payments.
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A new study shows that retirement savings last longer in some U.S. states than others, with retirees in Alaska, Maryland, and Virginia projected to keep the most money by age 79. This difference is mostly due to variations in retirement income, not the cost of living in each state.
Key Facts
Retirees in Alaska are expected to have $286,000 left at age 79, the highest amount among all states.
Indiana has the lowest projected remaining retirement savings at age 79, with $84,747.
The study assumes retirees spend $524,682 over 13 years after age 67.
Average annual retirement income nationwide is about $27,600, but it varies by state.
States with higher retirement incomes tend to have higher remaining savings despite often higher living costs.
U.S. life expectancy reached 79 years in 2024, making retirement savings last longer.
The differences in remaining savings are mostly due to income levels and tax policies, not cost of living.
Some states with lower incomes may offer a lower cost of living, which the study did not fully account for.
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An expert in business law says people are watching movies at home more because they like streaming better and because of bad practices in the movie industry. This change in movie watching is not mainly caused by one company buying another.
Key Facts
Movie theaters are seeing fewer viewers.
People prefer to stream movies at home.
Some practices within the movie industry are causing problems for theaters.
The possible purchase of Warner Brothers by Paramount Skydance is not the main reason for fewer theater visitors.
The shift to streaming is driven mainly by what consumers want.
Business experts are analyzing the movie industry's changes and consumer habits.
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Afterpay continues to operate at a loss in Australia but has expanded its services to new areas, including event venues. The Buy Now Pay Later (BNPL) market in Australia has slowed down due to new regulations and competition from traditional credit cards, leading some companies to exit the market.
Key Facts
Afterpay has never made a profit in Australia and recently bought naming rights for a Sydney Olympic Park arena.
Australians spent much more with credit cards ($22 billion in 2025) than with BNPL services.
Spending growth on BNPL platforms slowed from $3 billion a year to $1.5 billion by 2025.
At least eight BNPL companies have left the Australian market since 2022, leaving four major players: Afterpay, PayPal, Klarna, and Zip.
New Australian laws in 2025 required BNPL companies to do credit checks and report accounts, slowing approval processes and reducing BNPL use.
Some BNPL customers face late payment fees, with Afterpay reporting a 2.9% rate of accounts three months overdue.
Businesses pay about 3% fees to BNPL companies per transaction, higher than credit and debit card fees.
Afterpay earned $625 million from merchant fees in 2025 but still had a $741 million pre-tax loss in Australia.
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