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Business news, market updates, and economic developments
Apple TV is considering bidding for the US broadcast rights to golf’s Open Championship after its current deal with NBC ends in 2028. This move is part of Apple’s growing interest in sports broadcasting, competing with other streaming services like Netflix and Amazon.
Key Facts
Apple TV has had early talks with the golf organization R&A about bidding for US rights to the Open Championship.
NBC currently holds the US rights for the Open until 2028, shared with media company Versant and the Golf Channel.
Other streaming platforms like Netflix and Amazon may also bid for the Open rights.
Apple’s first big sports deal, a $2.5 billion 10-year contract for Major League Soccer, ended early due to low viewership.
Apple has a current five-year, $750 million exclusive US deal for Formula One racing rights.
The R&A values its relationship with NBC and Versant but is open to new bids as the US media rights cycle approaches.
Apple is committed to investing in sports broadcasting and is actively seeking new sports content rights.
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The U.S. government is appealing a court order that requires refunds of illegal tariffs to all importers, even those who did not sue. The government says a recent Supreme Court ruling limits such broad refund orders and importers who want refunds must sue individually.
Key Facts
A judge in the U.S. Court of International Trade ordered refunds for all companies that paid illegal tariffs.
The government argues this judge exceeded authority by ordering refunds to companies that did not file lawsuits.
The government appealed to the U.S. Court of Appeals for the Federal Circuit in June.
The appeal references a 2025 Supreme Court case that restricts universal injunctions—orders applying to all affected parties, not just specific ones.
Customs and Border Patrol has already refunded about $100 billion in tariffs.
A Congressional rule stops Customs from reprocessing tariffs once the administrative refund options expire.
Companies who want refunds after this must sue within legal deadlines.
Experts say refunding unlawful tariffs should not depend on whether businesses can sue, warning smaller businesses may be hurt.
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Nvidia has secured $500 billion in financing to support artificial intelligence projects. This funding comes from major Wall Street firms and highlights strong investor interest in AI and data centers.
Key Facts
Nvidia raised $500 billion in financing for AI-related work.
The funding is supported by leading Wall Street investors and companies.
The money will be used to boost artificial intelligence development.
This event shows significant excitement around AI technology and data centers.
Industry journalist William D. Cohan commented on the situation.
The scale of financing is unusually large for the tech and AI sectors.
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Many wealthy homeowners are choosing to remodel their current homes instead of moving. This decision is influenced by high home prices, low home sales, and the fact that many still have low mortgage rates, making moving less attractive.
Key Facts
Existing-home sales in the U.S. remain near historic lows due to affordability and economic concerns.
More than half of U.S. homeowners have mortgage rates below 4%, which is lower than current rates.
Higher borrowing costs discourage people from selling and buying new homes.
Older adults (50+) prefer to stay in their current homes and plan modifications to support aging.
Affluent homeowners focus on remodeling for comfort, customization, and lifestyle alignment.
Many clients want improvements in spaces like kitchens, master suites, and areas for family and work.
Remodeling supports long-term goals like retirement, hosting family, and aging in place.
Homeowners between 45 and 65 often have the financial means and clear plans for home use in coming years.
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Patrick M. Brenner writes that making bank charters a political issue could harm financial inclusion and reduce competition in the U.S. banking system. He suggests this politicization might limit access to banking services for some people.
Key Facts
Bank charters are permissions needed to operate banks legally.
The article says political influence is affecting how these charters are granted.
This influence can reduce competition among banks.
Less competition may lead to fewer choices and higher costs for customers.
Financial inclusion means making sure everyone can access banking services.
Politicization of bank charters might exclude some groups from these services.
The concern is mainly about the U.S. banking system.
The opinion warns about negative economic effects from this trend.
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The diamond industry is facing challenges as buyers want more transparency about what they pay for. More people are buying lab-grown diamonds, and companies like TD Diamonds are changing how they sell by sharing clear prices and details online.
Key Facts
The average price for a natural diamond engagement ring in the US was $7,364 in 2025, up 9% from the previous year.
Spending on natural diamond jewelry rose 25% to $4,063, with Gen Z making up over 75% of this market by value.
Lab-grown diamonds are now in over half of engagement rings bought by couples, showing shifting buyer preferences.
Traditionally, diamond pricing was unclear, with prices changing between dealers and limited verification for buyers.
TD Diamonds began posting exact prices and full details for stones online, a rare practice in the industry.
Posting prices openly helps customers feel informed and reduces guesswork or negotiation rituals.
Diamond grading should be seen as describing traits rather than simply ranking quality; visual appeal remains key.
Personal customer guidance remains important because choosing the right diamond is a subjective decision.
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The gap between rich and lower-income Americans in how much they spend and earn is getting smaller. Lower- and middle-income households are now increasing their spending and wages faster, which could make the economy more stable.
Key Facts
The U.S. economy has had a "K-shaped" gap where wealthy people spend more while others struggle.
Recent data shows lower-income people are now spending and earning more, catching up to middle-income groups.
Bank of America calls this change the "great convergence."
Lower-income households’ spending growth was 5.4% year over year, higher than the 4.9% for middle-income households.
After-tax wages for lower-income Americans rose 5.2% in July, exceeding wage gains for wealthier groups for the first time since December 2024.
The gap in spending growth between richest and poorest PNC bank customers shrank from 5 percentage points last year to just 0.1 points in July.
The improvement is linked to more lower-income people having jobs and earning paychecks.
The White House and Treasury Secretary say this means the "K-shaped" economy is ending, although richest Americans still spend more.
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Toyota is recalling about 655,000 Camry cars worldwide because a display error may stop safety signals like turn signals and hazard lights from working when the car starts. Owners will be notified to get a free software update to fix the problem.
Key Facts
The recall affects around 655,000 Camry vehicles made from December 2023 to July 2026.
Over 508,000 of these cars were sold in the U.S., mainly 2025-2026 Camry Hybrids.
The problem is with a 7-inch display that can go blank at startup, causing turn signals, hazard lights, seat belt reminders, and key-in-ignition alerts to fail.
This failure increases the risk of crashes because other drivers may not see important signals.
Toyota Motor North America will notify owners to bring their cars to dealers for a free software update.
Owner letters will start mailing on September 21 and finish by early October in the U.S.
The affected vehicles were made in plants located in the U.S., Japan, and Thailand.
Customers can check if their car is affected on Toyota’s or NHTSA’s websites or by calling Toyota customer support.
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A yacht owned by Meta CEO Mark Zuckerberg did not respond to a nearby boat that ran out of fuel. A spokesperson said the yacht crew did not hear the distress call and helped later once they became aware of the situation.
Key Facts
The incident involves a yacht owned by Mark Zuckerberg, the CEO of Meta.
Another boat nearby ran out of fuel and made a call for help.
The yacht crew did not respond initially because they said they did not hear the call.
A spokesperson named Brian Baker spoke on behalf of Mark Zuckerberg.
The yacht crew helped after they realized there was a problem.
The situation caused public attention and some controversy.
Meta is the company behind Facebook and other technology services.
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When negotiating debt forgiveness with a creditor, what you say can affect the outcome. Certain statements can weaken your case or limit your ability to negotiate a better deal.
Key Facts
Debt forgiveness means trying to settle a debt for less than the full amount owed.
Credit card interest rates are around 22%, making debt hard to pay off.
Inflation raises living costs, leaving less money to pay debts.
Saying you can afford payments but don’t want to pay full balance hurts your case.
Avoid promising to pay "whatever it takes" because it reduces negotiation power.
Revealing you have lots of savings can make creditors less willing to forgive debt.
Be honest but careful about what financial information you share during negotiations.
Explain why your debt payments are unaffordable by mentioning changes like job loss or higher essential expenses.
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The confidence of U.S. small business owners increased in July compared to June, according to a recent report. However, their uncertainty about economic conditions also went up during the same time.
Key Facts
The U.S. small business optimism index rose by over two points from June to July.
The uncertainty index for small businesses also increased in July.
The data comes from the National Federation of Independent Business (NFIB).
The report reflects how small business owners feel about the economy and future conditions.
Both optimism and uncertainty rising shows mixed feelings among small businesses about the economic situation.
The information was discussed by CBS News business analyst Jill Schlesinger.
This report highlights trends in the health and outlook of small businesses in the U.S.
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Debt collectors may stop contacting you for several reasons, even if you still owe money. This can happen when your debt is sold to another collector, the legal time to sue expires, you dispute the debt, the debt is seen as uncollectible, or your income is protected by law.
Key Facts
Debt collectors may stop calls if your debt is transferred or sold to another company.
Each state has a statute of limitations that limits how long collectors can sue for unpaid debt, usually 3 to 6 years.
If you dispute the debt in writing, collectors must pause collection attempts until they verify the debt.
If efforts to collect fail repeatedly and you have no assets to take, collectors may write off the debt internally.
Certain incomes like Social Security and disability payments are protected by law from being taken by collectors.
Silence from debt collectors does not mean your debt is gone or forgiven.
Collection activity might resume if circumstances change or if another collector takes over.
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A 4% interest rate is still generally considered good for high-yield savings accounts today. However, some banks, especially online ones, offer slightly higher rates, and rates may rise further if the Federal Reserve increases interest rates again later this year.
Key Facts
High-yield savings accounts typically offer variable interest rates that can change with market conditions.
Many banks currently offer around 4% interest on these accounts, which is still seen as a good rate.
Online banks often provide higher rates than traditional banks because they have lower costs.
Some banks offer rates slightly higher than 4%, around 4.10% to 4.15%, which can add more interest over time.
The Federal Reserve might raise interest rates later this year, potentially increasing savings account rates.
Certificate of deposit (CD) rates vary by term; for example, 1-year CDs offer about 4.40%, and 3-month CDs offer less than 4%.
CD rates are fixed, so they don’t change if interest rates rise later, unlike savings account rates.
Choosing the highest available rate now helps savers make more money and be ready for future increases.
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The Reserve Bank of Australia (RBA) kept interest rates steady at 4.35% but warned it may raise rates again if inflation stays high. The RBA hopes it won’t need to hike rates further but wants to keep the possibility open to influence the economy.
Key Facts
The RBA held interest rates at 4.35% in a unanimous decision.
The last rate increase was about three months ago, in May.
Inflation is expected to return to the RBA’s 2.5% target in about one year.
Global oil price shocks may affect inflation for the next 1-2 years.
The economy is slowing down as expected after earlier rate hikes.
The housing market downturn is happening but is not the main reason for rate decisions.
RBA Governor Michele Bullock said they may raise rates again if needed, keeping the threat alive.
Financial markets increased the chance of another rate hike from 53% to 67% after the announcement and press conference.
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Airlines have made new rule changes that could affect passengers who are planning to travel. These changes may influence costs and travel experiences during the busy summer season.
Key Facts
Airlines have updated some of their rules for travelers.
These changes are important to know before booking or flying.
The rules may lead to different fees or costs for passengers.
The changes come as summer travel is still ongoing.
Knowing these updates can help travelers avoid unexpected expenses.
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The new changes to historic preservation rules could put many old and important sites at risk across the country. These changes may affect more than just well-known monuments, impacting local historic places in every state.
Key Facts
The government is planning major changes to historic preservation rules.
These changes could weaken protections for historic sites.
Impact will be nationwide, affecting communities in every state.
Both famous monuments and smaller historic places could be at risk.
The goal of the new rules is to change how sites are preserved and protected.
Critics warn these changes may lead to more demolitions or alterations of historic locations.
Supporters say the changes may make preservation processes faster or simpler.
The full effects on communities and heritage are still uncertain.
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Sales of existing homes in the U.S. dropped 1.7% in July compared to June, mainly because home prices are at record highs and mortgage rates have climbed to levels not seen in over a year. The median price for a home rose to $434,100, while mortgage rates reached 6.69%, making it harder for buyers to afford homes.
Key Facts
Existing home sales fell to an annual rate of 4.06 million units in July, down 1.7% from June.
July sales were slightly higher than economists predicted and up 0.7% from last year.
The median sales price for U.S. homes in July was $434,100, a 2% increase over last year.
The average 30-year mortgage rate rose to 6.69%, the highest since about one year ago.
Home sales have remained near a 4 million annual pace for three years, below the 5.2 million historic average.
There were 1.54 million homes for sale at the end of July, which is below pre-pandemic levels of about 2 million.
The current home supply represents 4.6 months at the current sales speed; a balanced market usually requires 5 to 6 months.
First-time buyers made up 29% of sales in July, less than the usual 40% historically.
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France has banned most unsolicited telemarketing phone calls to protect consumers from unwanted sales calls. Companies can only call people if there is an existing contract or if they have the person's permission in advance.
Key Facts
The ban applies to telemarketing calls from all business sectors in France.
Calls are allowed only if related to an existing contract or with prior consent from the customer.
A French consumer group called this change a big step to protect people’s peace and privacy.
Some business groups and Moroccan officials worry the ban could cause job losses, especially in call centers.
Companies must get written consent and keep proof to legally make marketing calls.
A report showed 97% of French people dislike telemarketing calls, with many receiving calls weekly or daily.
Other European countries like Germany, Austria, and Italy also have strict rules on telemarketing calls.
In the UK, most telemarketing calls are allowed unless people have opted out or are on a no-call list.
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CBS Mornings is offering special discounts on various products to help improve daily life. Customers can visit cbsdeals.com to find and buy these items and support CBS, which earns a commission on sales.
Key Facts
CBS Mornings features exclusive discounts on selected products.
The products are aimed at improving everyday lifestyle.
Customers can shop for these deals at cbsdeals.com.
CBS earns commissions from purchases made through this website.
The deals are promoted through CBS News and its app.
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