Business News

Fox buying Roku for $22B

June 15, 2026 • The Hill

Summary

Fox Corporation is buying the streaming company Roku for $22 billion. Fox will pay a mix of cash and its own stock to Roku shareholders.

Key Facts

Fox announced it will buy Roku for $22 billion.
For each Roku share, Fox will pay $96 in cash plus about 0.97 shares of Fox stock.
The total value for each Roku share is $160.
The deal includes all Roku Class A and Class B shares.
This acquisition will combine Fox's media assets with Roku's streaming platform.

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The Hill

Oil prices fall to lowest level since March after US announces Iran deal

June 15, 2026 • ABC News

Summary

Oil prices dropped to their lowest level since March after the United States and Iran announced a deal to reopen the Strait of Hormuz, a key oil shipping route. This news also boosted U.S. stock markets as it signals a possible end to conflict in the region that had disrupted oil supplies.

Key Facts

Oil prices fell by 5% to around $80.40 per barrel, the lowest since early March.
The deal between the U.S. and Iran will reopen the Strait of Hormuz, which was closed by Iran during the conflict.
The Strait of Hormuz is important because it carries about 20% of the world’s oil supply.
U.S. stock markets rose: Dow Jones by 1%, S&P 500 by 1.4%, and Nasdaq by 2.3%.
Gas prices in the U.S. are dropping, with the national average now at $4.06 per gallon, down 46 cents in a month.
President Donald Trump authorized the removal of the U.S. naval blockade on the strait following the deal.
The deal is expected to be officially signed in Switzerland on Friday.
Oil is the main ingredient in gasoline and affects fuel prices at the pump worldwide.

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ABC News

Can creditors garnish money from an inherited IRA?

June 15, 2026 • CBS News

Summary

Inherited IRAs (Individual Retirement Accounts) do not have the same legal protections from creditors as regular retirement accounts owned by the original saver. Federal rules and court decisions mean these accounts may be vulnerable to creditors, especially in bankruptcy, and rules can differ by state.

Key Facts

Regular IRAs and 401(k)s are generally protected from creditors by federal law.
Inherited IRAs are subject to different rules and are less protected in bankruptcy cases.
The Supreme Court ruled in 2014 that inherited IRAs do not qualify for the same bankruptcy protections as original retirement accounts.
State laws vary widely on how well inherited IRAs are protected from creditors outside of bankruptcy.
Creditors usually must sue and get a court judgment before going after funds in an inherited IRA.
Money withdrawn from an inherited IRA loses protection and can be seized by creditors.
People with inherited IRAs and debt problems should talk to a lawyer or financial expert familiar with their state’s rules.
Debt settlement is a possible way to handle debts and protect inherited IRA assets.

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CBS News

Will mortgage rates drop after this week's Fed meeting?

June 15, 2026 • CBS News

Summary

The Federal Reserve will hold a meeting this week to discuss interest rates, but no rate cuts are expected at this time. Mortgage rates may not drop significantly after the meeting, but homebuyers and those refinancing should watch for lender offers and consider different mortgage options.

Key Facts

The Fed is meeting for the first time since April to discuss interest rate policy and other issues.
Current inflation, overseas conflicts, and strong employment are influencing the Fed’s decisions.
A rate cut is unlikely this week, with less than a 2% chance according to market tools.
Mortgage rates have risen recently due to inflation and geopolitical tensions.
Mortgage rates vary daily and differ between lenders, so shopping around can help borrowers find better rates.
Some borrowers may benefit from paying rate points now to lower their mortgage interest rate.
Adjustable-rate mortgages (ARMs) could be a good option for some buyers who want lower initial rates but accept future changes.
Locking in a mortgage rate now can protect borrowers from possible rate increases before closing.

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CBS News

Why It Doesn’t Pay To Host the World Cup

June 15, 2026 • Newsweek

Summary

Hosting the FIFA World Cup often costs cities more money than they earn from the event, despite its global popularity and economic benefits at the international level. Local governments pay for large expenses like security and transportation, while FIFA earns most of the revenue.

Key Facts

The 2026 World Cup is expected to add $40.9 billion to the global economy and create over 800,000 jobs.
Host cities cover big costs including security, policing, transportation upgrades, and fan events.
FIFA collects most of the money made from the World Cup, while cities take on much financial risk.
Past research shows that 12 of the last 14 World Cups caused economic losses for host cities.
For example, the 1994 World Cup in the U.S. led to about $9.3 billion in losses for local cities.
FIFA says it works with host cities to reduce costs and accommodate local needs.
The 2026 tournament will be held in 16 cities across the U.S., Canada, and Mexico.
There are concerns this year’s host cities may lose money due to low hotel prices, high airfares, and a mix of priced and unsold tickets.

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Newsweek

He helped build e.l.f. Cosmetics, but later walked away to become a Catholic priest

June 15, 2026 • CBS News

Summary

Scott Vincent Borba co-founded e.l.f. Cosmetics and helped grow it into a successful company. Later, he chose to leave the business world to become a Catholic priest, seeking a different kind of fulfillment.

Key Facts

Scott Vincent Borba helped build e.l.f. Cosmetics, a popular beauty brand.
e.l.f. Cosmetics became a multimillion-dollar company.
Borba did not feel personally fulfilled by his business success.
He decided to leave the cosmetics industry.
Borba pursued a new path as a Catholic priest.
The story was featured by CBS News contributor David Begnaud.

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CBS News

Reform pledges new tax on hiring foreign workers

June 15, 2026 • BBC Top Stories

Summary

Reform UK has proposed a new tax on companies that hire foreign workers to encourage hiring more British workers. The plan would reduce the National Insurance payments employers make on British staff by charging firms a levy for employing foreign workers, with rates depending on the workers’ wages.

Key Facts

Reform UK wants to tax companies hiring foreign workers to lower employers’ National Insurance costs for British employees.
The plan focuses on lower-paid jobs and includes a tax that decreases as wages increase.
For example, companies hiring foreign workers at minimum wage (£24,784 per year) might pay a £3,750 tax annually.
The party says this policy would help prioritize British workers over migrant workers.
Reform UK also wants to stop migrants from settling permanently after five years, requiring citizenship or new visas with higher salary rules.
The tax would mainly affect sectors like retail, hospitality, manufacturing, and private carers.
Treasury spokesman Robert Jenrick believes the tax cut for British employees and levy on foreign workers would balance the government’s costs.
Reform UK’s leader Nigel Farage also proposes banning foreign nationals from social housing and cutting VAT for small businesses.

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BBC Top Stories

Netflix Cancels 11 Shows: Full List and Ratings

June 15, 2026 • Newsweek

Summary

Netflix has canceled 11 shows in 2026 after only a few seasons, including some that never made it past their first season. These cancellations were mostly due to low viewership and audience engagement, despite some shows receiving good reviews.

Key Facts

At least 11 Netflix shows were canceled in 2026, including Mindhunter, The OA, The Abandons, and Terminator Zero.
Netflix’s co-CEO Ted Sarandos said the company does not cancel successful shows.
The Abandons was canceled after one season due to high costs not matched by enough viewers.
Terminator Zero, planned for five seasons, was canceled after one season because not enough people watched it.
The Vince Staples Show was canceled despite good reviews and a greenlight for a second season due to low audience numbers.
Pop the Balloon, a dating show, was canceled after poor audience engagement and low ratings.
Selling the City, a real estate reality show, will not return for another season.
Netflix decisions reflect a focus on balancing budget costs with audience size.

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Newsweek

Oil prices sink, stocks set to soar after Trump announces deal with Iran

June 15, 2026 • CBS News

Summary

President Donald Trump announced a deal with Iran to reopen the Strait of Hormuz, an important waterway for global oil shipments. As a result, oil prices dropped and U.S. stock markets are expected to rise when trading starts.

Key Facts

The Strait of Hormuz carries about 20% of the world’s crude oil.
Brent crude oil price fell nearly 5% to $83.11 per barrel.
U.S. West Texas Intermediate oil dropped about 5.2% to $80.47 per barrel.
U.S. stock futures for the S&P 500 and Dow Jones show expected gains of around 1%.
The U.S. naval blockade on Iran will end after the deal is signed on Friday.
It may take weeks for oil shipping through the strait to return to half of normal levels.
Gas prices in the U.S. are still about 37% higher than before the conflict began.
Experts say gas prices could fall but will not return to pre-war prices soon, so inflation may continue rising in the short term.

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CBS News

US and UK central banks expected to keep interest rates on hold amid Iran peace deal

June 15, 2026 • Guardian World

Summary

Central banks in the US and UK are expected to keep interest rates steady this week after a new peace deal in the Middle East helped lower oil prices and reduce inflation pressures. The US Federal Reserve and the Bank of England will announce their decisions soon, with their leaders focusing on how the peace deal might affect prices and the economy.

Key Facts

The US Federal Reserve is likely to keep its interest rate between 3.5% and 3.75%.
Kevin Warsh, President Trump’s pick as Fed chair, will make his first policy decision this week.
US inflation rose from 2.4% in February to 4.2% in May, the highest in three years.
The Bank of England is expected to hold its rate at 3.75%, despite UK inflation being 2.8%.
The peace deal in the Middle East opened the strait of Hormuz, dropping oil prices and easing inflation.
The European Central Bank recently raised rates to 2.25% due to rising inflation in the eurozone.
ECB President Christine Lagarde warned about “second-round” inflation effects, like wage hikes pushing prices higher.
Analysts believe if the peace deal lasts, UK inflation could stay below 4%, possibly avoiding more rate increases this year.

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Guardian World Guardian US

Fox to buy Roku streaming firm in $22bn deal

June 15, 2026 • BBC US

Summary

Fox is buying the streaming company Roku for $22 billion. The deal aims to create the third largest TV service in the US by combining Fox’s live news and sports with Roku’s streaming platform.

Key Facts

Fox is purchasing Roku for $22 billion, paying $160 per share with cash and stock.
The combined company will become the third largest TV player in the US by viewing share.
Fox sees this move as a way to strengthen its position as more audiences watch TV online.
Fox previously bought the streaming service Tubi in 2020, which has grown successfully under Fox.
Fox focuses on live news and sports, and Roku is a popular platform for streaming video in America.
Lachlan Murdoch is the CEO of Fox and supports the deal as a key step in Fox’s strategy.
The deal brings together live content from Fox with Roku’s popular streaming technology.

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BBC US BBC Business

Fox to acquire Roku in $22 billion deal

June 15, 2026 • CBS News

Summary

Fox Corp. is buying the streaming platform Roku in a deal worth $22 billion. The purchase will make the combined company the third-largest in U.S. television based on viewership, and the deal should finish by mid-2027.

Key Facts

Fox Corp. is acquiring Roku for $160 per share.
The deal includes a mix of cash and stock payments.
The total value of the deal is $22 billion.
After the acquisition, Fox and Roku will be the third-largest U.S. TV company by audience share.
The acquisition is expected to close in the first half of 2027.
Roku is known for its streaming platform, which allows users to watch TV shows and movies over the internet.
Fox Corp. is a large media company involved in television and entertainment.

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CBS News

Backlash against ‘short-termist’ UK plans to weaken EV sales targets

June 15, 2026 • Guardian World

Summary

The UK government plans to lower its electric car sales target from 80% to 50% by 2030, weakening rules meant to reduce emissions. This proposal faces strong criticism from electric vehicle makers and charging companies who say it will hurt industry growth and environmental goals.

Key Facts

The UK government wants to reduce the target for pure electric car sales from 80% to 50% by 2030.
Current rules allow some flexibility for plug-in hybrid electric vehicles (PHEVs), which have both a petrol engine and a small battery.
Charging companies have invested billions based on higher electric vehicle demand and warn the change could cost jobs.
Plug-in hybrids emit less carbon than petrol cars but much more than pure electric cars.
The decision follows pressure from carmakers and unions aiming to protect UK automotive jobs.
Critics warn weakening targets may lead to more petrol cars on roads and higher carbon emissions.
Chinese electric car brands have been increasing sales in the UK, many of which are plug-in hybrids.
Electric vehicle advocates say only a fast transition to pure battery electric cars will secure the UK car industry’s future.

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Guardian World

South Korea's Starbucks to shut for staff history lesson after backlash

June 15, 2026 • BBC World

Summary

Starbucks stores in South Korea will close for half a day next week so all staff can take a history lesson. This follows public anger over a "Tank Day" promotion that was seen as insensitive to a deadly 1980 military crackdown on pro-democracy protesters.

Key Facts

Starbucks Korea will close all stores at 3 p.m. local time for three hours next Wednesday for staff training on historical awareness.
The training includes watching videos to teach about the social and historical sensitivity of the 1980 Gwangju Uprising.
The "Tank Day" campaign promoted reusable tumblers called the Tank Series and coincided with the anniversary of the Gwangju Uprising, where at least 165 civilians were killed by military forces.
The campaign caused strong public backlash, protests outside stores, and a significant drop in Starbucks Korea sales.
Starbucks Korea's CEO was fired immediately after the controversy.
Shinsegae Group, which operates Starbucks in South Korea, said they used an AI tool to help create the promotion slogan.
South Korea’s President Lee Jae Myung publicly condemned the campaign as inhumane and disgraceful.
The Gwangju Uprising is a key event in South Korea’s move toward democracy and involved serious human rights abuses by the military.

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BBC World

UK’s oldest Indian restaurant takes crown estate to court over theatened eviction

June 15, 2026 • Guardian World

Summary

Veeraswamy, the UK’s oldest Indian restaurant in London, is suing the Crown Estate in court to try to stop its eviction. The Crown Estate wants to renovate the building and use the space for offices, but the restaurant owners say they can share the space and are willing to pay higher rent.

Key Facts

Veeraswamy has operated on Regent Street since 1926 and has a Michelin star.
The restaurant has served famous guests including Winston Churchill and Queen Elizabeth II.
The Crown Estate owns the building and refused to renew Veeraswamy’s £205,000-a-year lease.
The Crown Estate plans to refurbish the building for office use, including combining entrances.
Veeraswamy’s parent company MW Eat argues the refurbishment could happen without eviction.
MW Eat offered to pay higher rent and share the entrance, but the Crown Estate declined.
The Crown Estate offered financial help and alternative premises, but the restaurant says they are unsuitable.
Relocation and closure costs for the restaurant could reach about £5 million, higher than the compensation offered.

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Guardian World

BBC News braces for major round of job cuts in broadcaster’s £500m cost-saving drive

June 15, 2026 • Guardian World

Summary

BBC News is preparing to announce a large number of job cuts as part of a plan to save £500 million across the corporation. These job losses, which could reach into the hundreds, are part of the biggest cost-saving effort at the BBC in 15 years and come amid funding talks with government ministers.

Key Facts

The BBC aims to save £500 million in costs over the next two years.
Job cuts could be made public as soon as Wednesday and may affect hundreds of employees.
BBC News employs about 25% of the corporation’s 21,500 workers and faces deeper cuts than other departments.
The director general, Matt Brittin, moved away from gradual cuts and plans more significant changes, including cutting whole services or programs.
The BBC expects to reduce staff by up to 2,000 people across the corporation.
Current funding talks involve considering extending the TV licence fee to cover users of private streaming services.
The corporation has already made budget adjustments during the World Cup by having presenters work from Salford instead of on-location.
BBC staff and union leaders emphasize the importance of maintaining high-quality independent news amid the cuts.

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Guardian World

State bans on Pfas reduce ‘forever chemicals’ in clothing and textiles, US report finds

June 15, 2026 • Guardian World

Summary

State laws in New York and California banning the use of PFAS chemicals in clothing and textiles have led to a big drop in these harmful chemicals in products. Most tested items showed low or no intentional PFAS use, but some companies still sold products with higher levels, possibly from contamination or ignoring rules.

Key Facts

PFAS are chemicals used to make clothes water, stain, and grease resistant but are harmful to health and the environment.
New York and California passed laws in 2022 to ban adding PFAS to clothing, effective January 1, 2025.
Testing found about 80% of 115 products complied with these state bans.
Brands like Levi’s, Patagonia, and LL Bean stopped using PFAS by the end of 2024.
Some products still had low PFAS levels due to contamination from factory machinery or unclear reasons.
About 70% of products with PFAS had levels suggesting unintentional contamination; about 10% were uncertain.
Companies making diapers, outdoor furniture, and pet products had most violations.
States may take legal action against companies that break the bans; California will start enforcing rules soon.

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Guardian World

Fox buying streaming platform Roku in cash-and-stock deal worth about $22 billion

June 15, 2026 • ABC News

Summary

Fox Corp. is buying the streaming platform Roku in a deal worth about $22 billion that includes cash and stock. This purchase will give Fox access to Roku’s large streaming audience and data, creating a major company in U.S. television viewing.

Key Facts

Fox Corp. will buy Roku for about $22 billion, including debt.
The deal includes $96 in cash plus 0.9693 shares of Fox stock per Roku share.
The combined company will be the third-largest TV viewer in the United States.
Roku will keep operating as an open platform that works with many partners.
Fox shareholders will own around 73% of the new company; Roku shareholders will own about 27%.
Fox owns major media properties including sports, news, entertainment, and the streaming service Tubi.
The acquisition is expected to finish in the first half of next year after approvals.
Fox’s stock fell slightly before trading, while Roku’s shares rose nearly 3% after the announcement.

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ABC News

How SpaceX's arrival impacts the stock market

June 15, 2026 • Axios

Summary

SpaceX has started trading its shares on the stock market with a small percentage (around 5%) of its total shares available to buy. This initial public offering (IPO) has attracted strong interest from many investors, especially individual buyers, and is expected to influence other big tech IPOs in the future.

Key Facts

SpaceX released about 5% of its shares to the public, less than the usual 10-20% in IPOs.
The total valuation of SpaceX is very high, reported around $2 trillion, making a larger share release potentially disruptive.
Retail investors bought a record $117.6 million of SpaceX shares on the first day of trading.
SpaceX shares made up about 56% of all retail net buying on that day.
Forty actively managed ETFs now include SpaceX in their portfolios.
SpaceX is expected to join the Nasdaq 100 index around July 6, forcing index funds tracking it to buy shares.
It will also be added to the Russell 1000 index later in the year.
The smooth IPO opens the way for other large IPOs from companies like Anthropic and OpenAI.

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Axios

French wine at risk: Trump threatens 100% tariff over digital tax

June 15, 2026 • France24

Summary

President Donald Trump said he will place a 100 percent tax on French wine and champagne if France does not remove its digital services tax. This tax affects large tech companies like Facebook and Amazon operating in France. The tariff could hurt French wine exports to the United States, which is a major market for them.

Key Facts

France introduced a 3 percent tax on revenues from tech companies in 2019.
President Trump opposes this digital tax and wants it removed.
He warned of a 100 percent tariff on all French wine and champagne if the tax remains.
The United States imports the most French wine and spirits, making up 21% of France’s export market.
French wines already face a 15 percent tariff in the U.S., up from 10 percent before.
Exports of French wine and spirits to the U.S. fell by 21 percent last year.
Canada dropped its digital services tax after pressure from the U.S. to continue trade talks.
The dispute could impact trade relations between France and the United States.

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France24

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