At the VivaTech 2026 event in Paris, L'Oréal explained how it is using artificial intelligence (AI) to improve marketing, help customers find products, and offer personalized beauty advice. The company believes AI can play a big role in changing how people shop for beauty products.
Key Facts
L'Oréal is using AI in its marketing efforts to better connect with customers.
AI helps consumers discover new beauty products suited to their needs.
The company offers personalized experiences by using AI technology.
VivaTech 2026 is a technology event held in Paris.
AI is becoming more common for advice and recommendations in different industries.
L'Oréal is a global leader in the beauty market.
This move reflects a broader shift in customer engagement driven by AI innovations.
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The Federal Reserve has paused interest rate changes again, keeping rates high. Traditional savings accounts now pay very low interest, so savers should consider other options like high-yield savings accounts, CDs, or money market accounts to earn more on their money.
Key Facts
The Federal Reserve paused interest rate changes for the fourth time in 2026.
Traditional savings accounts currently offer an average interest rate of only 0.38%.
Interest checking accounts pay even less, about 0.07% on average.
High-yield savings accounts offer around 4.10% interest, much higher than traditional accounts.
Certificates of deposit (CDs) can pay about 4.20% interest but may charge penalties for early withdrawal.
Money market accounts offer roughly 3.90% interest and include check-writing features.
Moving money from traditional savings to these higher-yield accounts can significantly increase earnings.
Shoppers are advised to compare rates online, as they often find better offers than at local banks.
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The Federal Reserve has kept interest rates steady for the fourth time in a row, but inflation and rising energy costs mean rate increases are possible later this year. Borrowing money remains costly for many, but some options like home equity lines of credit and home equity loans offer more affordable ways to borrow.
Key Facts
The Fed’s benchmark interest rate is currently between 3.5% and 3.75%.
Inflation is over 4%, and energy prices are increasing.
There is a chance the Fed will raise rates before the end of the year.
Credit card interest rates are very high, around 21% or more.
Home equity lines of credit (HELOCs) have average rates just above 7%, making them cheaper than credit cards.
HELOCs allow borrowing as needed and charge interest only on the amount used.
Home equity loans give a fixed lump sum with fixed payments, typically around 7% interest, which helps protect against rising rates.
Home equity loans offer less flexibility than HELOCs because the full loan amount is given at once and repayment starts immediately.
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Naomi Campbell faces a five-year ban from running charities after a watchdog found she neglected her duties at her former charity, Fashion for Relief. The charity closed in 2024 amid financial mismanagement and misuse of funds, though Campbell denies wrongdoing and says she was a victim of fraud by a trusted associate.
Key Facts
Naomi Campbell founded the charity Fashion for Relief in 2015.
The charity raised £4.8 million for anti-poverty projects but gave only 10% to partner charities.
The Charity Commission found poor financial management, such as missing receipts and questionable expenses.
Campbell delegated charity oversight to trustee Bianka Hellmich, who allegedly committed fraud including forging documents and charging unauthorized fees.
Hellmich repaid £316,000 to the charity after the misconduct was revealed.
The charity was declared insolvent and closed in March 2024.
Campbell’s lawyers argue she was an innocent victim who acted honestly and did not benefit personally.
The Charity Commission insists Campbell failed to supervise the charity properly and remains unfit to be a trustee.
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Economists say inflation in the United States could stay high for six to twelve months even if the Iran war ends soon. While a deal between the U.S. and Iran may reopen key shipping lanes and lower energy prices, rising costs for food and goods will take time to decrease for consumers.
Key Facts
Inflation rose to 4.2% in May 2026, the highest since 2022.
The ongoing Iran war has contributed to higher prices, especially energy costs.
The U.S. and Iran agreed to a 60-day ceasefire and started talks for a permanent peace deal.
Reopening the Strait of Hormuz will allow more oil tankers to pass and could lower energy costs globally.
Inflation effects from supply chain and production costs take months to reflect in consumer prices.
President Donald Trump's nominee, Kevin Warsh, is now the Federal Reserve chair and aims to reduce inflation to 2%.
Other factors increasing inflation include the Russian invasion of Ukraine and pandemic-related economic disruptions.
Many Americans face long-term financial strain as prices have steadily increased over the past five years.
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Savers looking for the highest interest rates on certificates of deposit (CDs) this June can benefit from the Federal Reserve’s decision to keep interest rates steady. Long-term CDs generally offer better rates than short-term ones, and online banks usually provide higher rates than local banks. Using online marketplaces can help compare different CD rate options easily.
Key Facts
The Federal Reserve is keeping interest rates on pause, maintaining current rates for savers.
Some CDs have offered rates as high as 6% or 7% recently, though those offers have decreased.
Long-term CDs (18 months or more) usually pay higher interest rates than short-term CDs (under a year).
Current rates for short-term CDs are about 3.95% to 4.15%, while long-term CDs range from 4.15% to 4.20%.
Local banks often pay lower CD rates because of higher operating costs.
Online banks provide better CD rates due to lower expenses.
Online marketplaces make it easier to compare CD rates, terms, and fees from different lenders.
Savers do not need to rush to lock in rates but should look for the highest available before committing funds.
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Before SpaceX went public, investors from China and other countries secretly bought shares in the company while it was still private. This raised concerns because SpaceX works on sensitive U.S. government projects, and U.S. rules regulate foreign investments in such companies.
Key Facts
Investors with connections to Chinese military contractors acquired stakes in SpaceX before its IPO.
A Qatari royal family-linked entity also invested in SpaceX.
SpaceX banned investors from China and Hong Kong in its IPO due to regulatory and compliance risks.
China is suspected by the U.S. government of trying to use investments in sensitive industries for spying and technology access.
At least a dozen investors from China, Hong Kong, or Russia bought shares through a U.S. middleman firm called Tomales Bay Capital between 2018 and 2021.
Investments ranged from $800,000 to $40 million.
One investor, David Su, co-founded a Beijing venture capital firm that also supports Chinese space companies and has ties to state-backed aerospace efforts.
There is no evidence that these investors received secret information about SpaceX or acted improperly.
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Recently, many employees at SpaceX became millionaires due to the company’s stock performance. Other notable events this week included a UFC fight held at the White House, the Royal Marines boarding a Russian oil tanker, and concerns about social media bans for children under 16.
Key Facts
A number of SpaceX employees gained millionaire status because of their stock holdings.
The White House hosted a UFC fight on its South Lawn.
Royal Marines boarded a Russian "shadow fleet" oil tanker.
A schoolgirl expressed concern she would be left staring at a wall if social media was banned for people under 16.
The news summary was part of a weekly quiz covering recent global events.
The quiz was created by George Sandeman.
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City & Guilds has canceled plans to make about 400 UK workers lose their jobs and move those jobs to Greece. After concerns and legal risks, they reached deals with unions to reduce forced job losses and offer support to affected staff.
Key Facts
City & Guilds planned to cut around 400 UK jobs and move them to Greece after being bought by Greek company PeopleCert.
About 75 compulsory job cuts were first announced, causing concern in the training sector.
Union Unite negotiated with PeopleCert to limit compulsory layoffs and secure financial help for affected workers.
City & Guilds promised support like redeployment options, voluntary redundancies, and financial assistance.
PeopleCert’s image suffered after reports showed senior City & Guilds directors received million-pound bonuses after the sale.
The Charity Commission opened an official investigation into the bonus payments.
PeopleCert also launched an internal investigation which accused two former City & Guilds executives of unauthorized bonuses.
City & Guilds London Institute (the charity) announced a third independent inquiry into the reasons for selling the awarding and training businesses.
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Pigment is a French company that started as a small business in 2019 and now has a value of over $1 billion. It uses artificial intelligence (AI) to help other companies plan and make smart business decisions. The company was highlighted at VivaTech 2026, a large European event focused on technology and innovation.
Key Facts
Pigment was founded in 2019 as a startup.
It is now considered a "unicorn," meaning it is worth more than $1 billion.
Pigment offers a business planning platform that uses AI to support strategic decision-making.
VivaTech is Europe's biggest event for technology and innovation.
The co-founder and co-CEO of Pigment is Eleonore Crespo.
The event discussed how Europe can better support tech startups.
AI is changing how businesses plan and work, as shown by companies like Pigment.
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When a person dies, their unpaid debts do not automatically become the responsibility of their surviving spouse. However, spouses may need to pay if they borrowed together, co-signed a loan, or live in states where debts acquired during marriage are shared.
Key Facts
Debts in only the deceased spouse's name are usually paid from the deceased person’s estate, not the surviving spouse’s personal money.
Creditors may collect unpaid debts by filing claims on the deceased’s estate during probate (the legal process to settle debts and distribute assets).
If both spouses signed a loan or credit account, the surviving spouse typically remains responsible for repayment.
Co-signing a loan means the co-signer must repay the debt if the primary borrower dies.
Some states follow community property rules, where debts obtained during marriage are considered shared by both spouses.
In community property states, creditors might pursue the surviving spouse or joint marital assets for unpaid debts.
It’s important for survivors to check loan documents carefully to understand any obligations.
If estate assets are insufficient, some debts may remain unpaid and the surviving spouse may not be required to pay them from their own money.
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A one-time tax on billionaires in California will appear on the November ballot after receiving enough voter signatures. The tax aims to raise money by charging extra to people with very high wealth.
Key Facts
The Billionaire Tax Act is a proposed one-time tax on billionaires living in California.
California Secretary of State Shirley Weber confirmed the measure collected enough signatures to qualify for the ballot.
The measure will be officially certified on June 25.
It will appear on the ballot during the midterm elections in November.
If voters approve it, billionaires in California will have to pay this extra tax one time.
The purpose of the tax is to raise funds, though the article does not specify how the money will be used.
The tax targets individuals with very high wealth, known as billionaires.
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Kevin Warsh, less than a month into his role as chairman of the Federal Reserve, is changing how the central bank sets and explains its policies. He plans to provide simpler guidance, fewer details, and less prediction about future interest rate moves, aiming for a more flexible approach.
Key Facts
Kevin Warsh became Federal Reserve chairman less than four weeks ago.
Warsh believes the Fed has spent too much time explaining and forecasting its actions.
The Fed will now use simpler statements and hold fewer or shorter press conferences.
Nine of 18 top Fed officials expect at least one interest rate hike this year.
Warsh himself did not provide any projections or detailed guidance on rate changes.
Warsh wants to return to the policy style of former chairman Alan Greenspan, with less frequent communication.
This new approach may cause more market surprises and volatility because traders have less information.
The Fed aims to be more nimble and focused on the economy rather than on following previous forecasts or promises.
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A government report warns that building a third runway at Heathrow Airport could harm the health and wellbeing of up to 3 million people nearby by increasing noise and air pollution and affecting community services. While the expansion may create jobs and boost the economy, many negative environmental and social effects are expected and cannot be fully avoided.
Key Facts
The third runway at Heathrow could affect the health of about 3 million local residents.
The construction and operation will increase noise and reduce air quality.
The project may also harm access to housing, education, healthcare, open spaces, and transport.
Other impacts include damage to water quality, local communities, landscapes, and efforts to combat climate change.
The expansion could create over 60,000 local jobs and add up to £42 billion in benefits to the UK.
The runway would be 3,500 meters long, require moving part of the M25 motorway, and involve compulsory purchase of around 800 homes.
The project costs are estimated at £33 billion and aim to allow up to 756,000 flights and 150 million passengers annually.
The government has launched a public consultation and plans to vote on a national policy statement supporting the expansion.
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Gas prices in the United States have fallen below $4 per gallon for the first time in several months. This drop happened after President Donald Trump signed a memorandum of understanding with Iran, which improved global relations.
Key Facts
Gas prices fell below $4 a gallon on average in the U.S.
This is the first time prices have dropped below $4 in several months.
The price change followed President Trump’s signing of a memorandum of understanding with Iran.
The memorandum helped improve relations between the U.S. and Iran.
Despite the drop, gas prices are still about $1 higher than before the war started.
AAA (American Automobile Association) provided data on gas prices.
Market reactions are connected to changes in global political relations.
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A small town in California, Lone Pine, is at the center of a new gold mining project on Conglomerate Mesa. The Bureau of Land Management (BLM) recently approved a gold exploration plan by K2 Gold, sparking debate between supporters of mining and local Indigenous groups who want to protect the land.
Key Facts
Lone Pine, California, is near Conglomerate Mesa, a 14,000-acre desert area with natural and cultural significance.
K2 Gold, a Canadian company, has spent over seven years exploring gold deposits in the area.
On April 8, the BLM gave final approval to K2 Gold’s Mojave Project, covering 6,000 hectares for exploration.
Construction for drilling sites has begun, with helicopter deliveries supporting the work.
The project approval includes limits like fewer drill holes and less water usage than initially requested.
This project follows new rules under President Donald Trump’s Unleashing American Energy Act, which sped up mining approvals and classified gold as a critical mineral.
Some local businesses support mining for economic benefits, while tribal leaders and environmental groups want to protect the area from damage.
The Paiute Shoshone Tribe monitors the site to ensure cultural and natural resources are not harmed.
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Bankruptcy can protect many retirement accounts from creditors, but some accounts have less protection. Employer-sponsored retirement plans usually have strong protections under federal law, while individual retirement accounts (IRAs) have protection limits that vary. Non-retirement accounts generally do not have the same safeguards during bankruptcy.
Key Facts
Many older Americans face rising debt and may consider bankruptcy to manage it.
Employer-sponsored retirement plans like 401(k)s, 403(b)s, and pensions are mostly protected under the Employee Retirement Income Security Act (ERISA).
These protected plans are generally safe from creditors and bankruptcy trustees.
Individual Retirement Accounts (IRAs) also have bankruptcy protections but with limits that change over time.
IRA funds rolled over from employer plans may have stronger legal protections than direct IRA contributions.
Large IRA balances may need legal advice to understand the level of protection.
Non-retirement accounts such as regular brokerage or savings accounts usually do not have bankruptcy protection.
Creditors can access non-qualified accounts during bankruptcy, unlike many retirement accounts.
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The Federal Reserve has kept interest rates steady between 3.50% and 3.75%, which affects how much banks pay on savings accounts. Four main types of savings accounts—certificates of deposit (CDs), high-yield savings, money market, and traditional savings—offer different interest earnings on $50,000, with CDs generally paying the most.
Key Facts
The Federal Reserve paused raising or lowering interest rates this week.
Current rates affect how much interest banks pay savers.
Four common savings options are CDs, high-yield savings, money market, and traditional savings accounts.
CDs have fixed interest rates but limit access to money until maturity.
High-yield savings and money market accounts offer variable rates but allow withdrawals.
A 1-year CD at about 4.15% could earn $2,075 on $50,000 in one year.
High-yield savings and money market accounts provide slightly less interest but more access.
Traditional savings accounts offer very low returns, around $190 on $50,000 per year.
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The UK government has released a plan to build a third runway at Heathrow Airport, calling it important for the country's growth. The project aims to increase the airport's capacity but must meet rules on air quality, noise, and climate targets before it can start.
Key Facts
The government published a draft plan called the Heathrow expansion national policy statement (HENPS).
Heathrow Airport Limited wants to build a full 3,500-metre runway, which could cost £33 billion and require moving the M25 motorway.
Another proposal suggests a shorter 2,800-metre runway that would not move the motorway.
The expansion could increase Heathrow’s flights to 756,000 a year and carry up to 150 million passengers annually.
The project must meet legal climate goals and noise limits, ensuring no worse conditions than in 2024.
Chancellor Rachel Reeves supports starting construction and wants the runway completed by 2035.
Some climate groups warn the expansion could increase air pollution and noise.
Heathrow’s CEO said the expansion is essential for the UK’s economy and they will now work on getting the necessary permissions.
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The Australian Labor government made some small changes to its planned capital gains tax reforms after facing criticism. These adjustments include raising the small business turnover limit and creating new tax discounts for start-ups, but the overall goal to help young Australians buy homes remains unchanged.
Key Facts
Labor proposed changes to capital gains tax aimed at helping people buy homes.
After public backlash, they raised the small business turnover limit from $2 million to $10 million for tax concessions.
A new 50% capital gains tax discount will be available for "innovative" start-ups.
All testamentary trusts are exempt from the proposed 30% minimum tax rate to avoid a so-called "death tax."
The treasurer’s discretionary powers to set rules will be reduced.
These changes will reduce expected government revenue by $475 million but still aim to raise $8.1 billion overall.
Opposition parties and business groups remain critical and want the tax changes scrapped.
The government will try to pass the reforms through the Senate, negotiating especially with the Greens, who remain cautious.
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