The Department of Education will start sending notices to certain federal student loan borrowers about important upcoming deadlines. These notices explain what actions borrowers need to take concerning changes to their student loans.
Key Facts
Notices will be sent beginning Wednesday.
The notices are for some federal student loan borrowers.
The notices include important deadlines related to student loans.
Borrowers need to pay attention to these deadlines and take any required actions.
The Department of Education is managing the communication.
The purpose is to help borrowers handle changes in the federal student loan program.
CBS News business analyst Jill Schlesinger provided an overview of who is affected and what steps to take.
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The UK government is considering intervening in Paramount Skydance’s $111 billion takeover of Warner Bros Discovery. The intervention concerns maintaining diverse news viewpoints and media ownership in the UK.
Key Facts
UK culture secretary Lisa Nandy said she is "minded to intervene" in the deal.
The takeover would combine Warner Bros Discovery’s assets (like CNN, HBO, Warner Bros movies) with Paramount’s (CBS, Channel 5).
The government worries about enough variety in news opinions and media ownership in the UK.
Paramount has until July 6 to respond before a final decision is made.
If approved to intervene, regulators Ofcom and the Competition and Markets Authority will further review the deal.
The takeover is already approved in the US and expected to clear the EU with conditions.
Paramount Skydance is led by David Ellison, son of Oracle founder Larry Ellison.
The UK may create new rules not just for TV channels but also for streaming services like Paramount+ and HBO Max.
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Kroger is buying Giant Eagle, a regional grocery and pharmacy chain, for $1.65 billion. The deal includes cash and taking on some debt, with the purchase expected to finish next year after regulatory approval.
Key Facts
Kroger is purchasing Giant Eagle for $1.65 billion.
Giant Eagle has 197 grocery stores and 11 pharmacies in several states including Ohio and Pennsylvania.
The deal consists of $1.25 billion in cash plus about $400 million in debt.
Kroger operates thousands of stores under different names like Ralphs and Fred Meyer.
The companies expect to sell some Giant Eagle stores to meet regulatory rules.
Kroger CEO Greg Foran said Giant Eagle fits well with Kroger’s business.
Foran became Kroger’s CEO in February and has a background at Walmart.
Kroger’s stock price dropped by nearly 3% after the deal was announced.
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The US cooking oil market is shrinking mainly because Latino households face economic difficulties and tough immigration enforcement. Associated British Foods, which owns Mazola, says these factors and new health trends have reduced cooking oil sales and that this situation may continue for years.
Key Facts
US cooking oil sales are falling due to financial and immigration pressures on Latino consumers.
President Trump's immigration enforcement has led some Latino customers to shop online and reuse cooking oil more often.
ABF’s US joint venture reported lower demand for cooking oil partly because of the rise in appetite-suppressing drugs.
ABF’s overall grocery sales rose 1% recently, with growth in other brands balancing the drop in oil sales.
ABF plans to separate its Primark clothing brand into a different company.
UK supermarket Asda cut nearly 6,000 jobs last year after selling a restaurant business and completing IT system upgrades.
Asda’s job cuts mostly came from not replacing employees who left and ending some contracts, not forced layoffs.
Asda reported a significant financial loss after a price war and large spending on upgrading its technology.
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The European Union is creating new rules under the Industrial Accelerator Act that require cars and car parts to be made within the EU to receive subsidies or government contracts. These rules could block UK car manufacturers from the EU market, which is their largest export destination. The European Automobile Manufacturers Association and UK industry groups are urging the EU to give exemptions to the UK because car production between the UK and EU is highly connected.
Key Facts
The EU’s new “Made in Europe” rules require cars and parts to be produced inside the EU to qualify for support.
These rules are part of the Industrial Accelerator Act, aimed at protecting EU car makers from cheap, subsidized products from China.
The rules only apply to EU members, risking damage to UK car manufacturers that export heavily to the EU.
The European Automobile Manufacturers Association (Acea) wants the UK, Turkey, and Morocco to get special exemptions.
UK car plants are often owned by European companies like BMW, Volkswagen, Stellantis, Jaguar Land Rover, Ford, and Toyota.
Nissan has warned it might close its Sunderland factory if the rules go forward unchanged.
The UK and EU are each other’s largest markets for cars and parts, with over half of UK car exports going to the EU.
EU leaders and industry groups hope to negotiate changes to avoid harming the integrated UK-EU car industry.
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Kroger is buying the grocery and pharmacy company Giant Eagle in a deal worth $1.65 billion. Giant Eagle has nearly 200 supermarkets and 11 pharmacies in several states, and the purchase is expected to finish next year after regulatory approval.
Key Facts
Kroger will pay $1.25 billion in cash and take on about $400 million in Giant Eagle’s debts.
Giant Eagle operates 197 supermarkets and 11 pharmacies in Ohio, Pennsylvania, West Virginia, Maryland, and Indiana.
Kroger owns many stores under different names like Ralphs, King Soopers, Smith’s, and Fred Meyer.
Kroger’s CEO, Greg Foran, joined the company in February and used to work at Walmart.
Kroger and Giant Eagle may have to sell some stores to get approval from regulators.
Kroger’s stock price dropped nearly 3% before the market opened after the announcement.
The deal is expected to be completed next year.
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A frozen cookie dough product sold at Target stores in four Western U.S. states is being recalled because it may contain soy that is not listed on the label. The recall affects one lot of Bakr Brown Butter Chocolate Chunk cookie dough due to a packaging error that placed soy-containing S'mores dough in mislabeled bags.
Key Facts
The recalled item is Bakr Brown Butter Chocolate Chunk Ready to Bake Cookie Dough sold in 8-ounce blue pouches.
The recall applies only to packages with lot number 2606022.
The dough was sold in Target stores in Southern California, Southern Nevada, Arizona, and Utah starting June 11, 2026.
A packaging malfunction caused S’mores flavor dough (which contains soy) to be put into bags labeled as Brown Butter Chocolate Chunk.
Soy is a major allergen that can cause serious or life-threatening reactions in some people.
Consumers with the recalled lot number should not eat the dough and should return it for a refund.
No illnesses or allergic reactions have been reported so far.
Soy allergy symptoms can include rash, swelling, stomach pain, difficulty breathing, and in severe cases, anaphylaxis requiring emergency care.
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The European Union has introduced new rules to protect its steel industry and control the rise of small e-commerce parcels from China. These measures include a 3 euro customs fee on small packages and limits on steel imports to address the large trade imbalance with China.
Key Facts
The EU added a 3 euro customs duty on small packages valued under 150 euros, removing a previous exemption.
Around 90% of these small e-commerce packages come from Chinese companies like Temu and Shein.
In 2025, 5.9 billion small packages entered the EU, up from 1.4 billion in 2022.
Most packages were found to fail EU safety tests and raised environmental concerns due to excessive plastic use.
New steel import rules aim to protect EU jobs and steel plants from excess global steel production fueled by Chinese subsidies.
The EU’s trade deficit with China reached about 360 billion euros ($410 billion) in 2025 and is growing.
The 3 euro package fee may reduce small purchases but might not significantly change overall trade due to cheaper prices in China.
The US has already implemented a similar customs rule on small package imports.
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More than 72 million people in the United States will travel at least 50 miles during the Fourth of July holiday. Many will drive and face gas prices that are about 66 cents higher per gallon than last year, while domestic flight prices have increased by around 31%.
Key Facts
Over 72 million Americans plan to travel 50 miles or more during the Fourth of July weekend.
Most travelers will use personal vehicles for their trips.
Gas prices are about 66 cents more per gallon compared to the same time last year.
Domestic airline ticket prices have risen by approximately 31% from last year.
The data comes from AAA (American Automobile Association).
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A new trend in luxury real estate called longevity residences is growing. These homes include features and services designed to help residents live healthier and longer lives by focusing on wellness every day.
Key Facts
Longevity residences offer built-in wellness features like in-home oxygenation systems and on-demand health services.
Developers see longevity living as a fast-growing sector in luxury real estate.
These residences aim to make healthy living easy and part of daily life, not just add extra wellness amenities.
Examples include facilities like juice bars, fitness centers, sound baths, IV therapy, and spa services.
Projects like Four Seasons Resort and Residences Telluride and New York properties are leading this trend.
The focus is on improving healthspan, which means more years of good health, rather than just lifespan.
Accessibility and personalization of health services are important features for residents.
The trend reflects changing buyer expectations for homes that support recovery, activity, and social connections.
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Oil prices dropped about 1% as talks between the US and Iran continued in Doha, aiming for a peace agreement. In the UK, manufacturing activity slowed in June, and several major companies announced changes, including closures of former WH Smith stores and the end of the Halifax banking brand.
Key Facts
Brent crude oil price fell by 1.6% to around $71.62 per barrel, trading near pre-war levels.
US-Iran talks are ongoing in Doha, with Qatar and Pakistan helping as mediators.
Up to 150 former WH Smith stores in the UK will close after the high court approved a restructuring plan.
WH Smith was bought by Modella Capital, rebranded as TG Jones, and employs around 5,000 people.
Lloyds Banking Group will retire the Halifax brand after 173 years, shifting all accounts to Lloyds branding.
No bank branches will close due to the Halifax brand change, but signs will be removed starting in early 2027.
UK manufacturing showed less activity in June, indicating a slowdown in the sector.
Eurozone inflation slowed to 2.8% in June and factory output had its best quarter since 2022.
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The company that took over WH Smith’s High Street stores, now called TG Jones, has won court approval to close up to 150 shops and reduce rent on many others. This plan aims to help the business survive after facing financial problems and a risk of running out of cash.
Key Facts
Modella Capital bought the former WH Smith High Street stores last year and renamed them TG Jones.
There are currently 451 TG Jones stores employing about 4,700 people.
Up to 150 stores will close, and rent will be cut by 15% to 75% on many remaining stores.
Around 120 landlords will receive no rent for up to three years as part of the plan.
The business faced a nearly £8 million cash shortfall and was close to insolvency before the court deal.
A £10 million loan and deferred payments helped TG Jones avoid running out of money in April.
The company blamed poor trading on tough retail conditions, loss of the WH Smith brand, and underinvestment.
The court judge approved the restructuring plan after confirming it was fair to creditors.
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BBC staff are unhappy with a pay rise offer of only 1%, which is much lower than the current inflation rate of 2.8%. The broadcaster is also planning to cut up to 2,000 jobs over the next three years to save £500 million due to reduced licence fee revenue, leading to fears of strikes and other industrial actions.
Key Facts
BBC staff were offered a 1% pay increase or £500, whichever is higher.
Inflation is currently around 2.8%, making the pay rise less than the rise in living costs.
The BBC plans to cut about 2,000 jobs across the next three years.
The broadcaster faces a £500 million savings target because of declining licence fee money.
Unions have rejected the pay offer and warn that strikes or work-to-rule actions may happen.
New BBC director general Matt Brittin has started his job amid these challenges.
The World Tonight radio program will end after more than 50 years due to cuts.
Talks between the BBC and unions will involve a government conciliation service called Acas.
There are discussions about changing how the BBC licence fee works, possibly including streaming viewers.
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Lloyds Banking Group will stop using the Halifax brand after 173 years and change all Halifax accounts to Lloyds accounts starting next year. The bank will remove Halifax signs from branches but will keep all branches open and keep customers’ account numbers and sort codes the same.
Key Facts
Lloyds Banking Group is ending the Halifax brand, which has existed for 173 years.
New accounts will no longer be opened under the Halifax name.
Existing Halifax accounts will be moved to Lloyds branding starting soon.
Halifax signs will be removed from 190 branches by early 2027, but no branches will close.
The group currently uses three brands: Lloyds, Halifax, and Bank of Scotland.
Lloyds will become the only brand in England, Wales, and Northern Ireland; Bank of Scotland will remain in Scotland.
Customers will keep their current account numbers and sort codes after the change.
Lloyds plans to offer Halifax customers access to Lloyds’ existing services and rewards programs.
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Up to 150 former WH Smith stores will close after a court approved a plan to restructure the business. The company, now called TG Jones and owned by Modella Capital, will reduce debts and cut rents to survive financially.
Key Facts
TG Jones owns 450 stores and has about 5,000 employees.
The company was bought by Modella Capital last year and rebranded from WH Smith.
The restructure plan includes writing off debts to suppliers and reducing rent for landlords.
More than 80% of landlords controlling top stores supported the plan; many others, especially those with unwanted stores, opposed it.
Small suppliers like card and toy makers will lose at least half the money owed to them.
The plan needed approval from a court judge and at least one class of creditors with 75% support.
Only 72% of business rates creditors and less than one-third of general creditors approved the plan.
The restructure aims to make TG Jones a stronger and more sustainable company.
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Luxury home prices in the U.S. are rising much faster than regular home prices, growing 4.7% compared to 1.5% for non-luxury homes in the year ending May 31. This increase is due to strong demand from wealthy buyers who are less affected by high mortgage rates and economic worries, while regular buyers face affordability challenges.
Key Facts
Luxury home prices rose 4.7% year-over-year, three times faster than regular homes at 1.5%.
Luxury homes are defined as those in the top 5% price range of a metro area, non-luxury are in the middle 35–65%.
Mortgage rates remain high, reaching 6.49% average for a 30-year fixed loan, limiting regular buyer activity.
Pending sales of luxury homes increased 5.2%, more than the 3.6% increase for non-luxury homes.
Tampa reported the biggest luxury home price rise at 15.6%, with Miami second at 14.2%.
Non-luxury home prices fell slightly in Tampa (-0.5%) and Miami (-0.7%).
Florida is attracting wealthy buyers like tech entrepreneurs and billionaires due to lower taxes, despite rising property taxes and insurance.
San Francisco saw the largest jump in pending luxury home sales (+45.9%), linked to the artificial intelligence (AI) industry boom.
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Humphrey Smith, who led the Samuel Smith Old Brewery in Tadcaster since the 1980s, has died at age 81. The brewery, known for its strict pub rules like banning mobile phones and swearing, operates around 200 pubs across the UK and was family-run since 1758.
Key Facts
Humphrey Smith owned and ran the Samuel Smith Old Brewery and pub business from the 1980s until his death.
The brewery has about 200 pubs around the UK, many known for unique rules such as no phones, music, TVs, or swearing allowed.
Samuel Smith Old Brewery is based in Tadcaster, North Yorkshire, and was founded by Smith's family in 1758.
The brewery operates as an unlimited company, which means it keeps its financial details private.
Smith changed the business model by making pub tenants directly employed managers to maintain the company’s policies.
Some pubs have closed suddenly, sometimes due to rule violations like photos posted online or other unexplained reasons.
The brewery is a major landowner in Tadcaster and has influenced local decisions like blocking construction of a temporary footbridge.
Tadcaster’s mayor described Smith as a private man, respected for his principles and contributions to the town.
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Some companies use tricky methods to make it hard for customers to get refunds. These methods include delaying responses and creating complicated refund steps. The report also explains how customers can use their rights to challenge these practices.
Key Facts
Companies sometimes avoid giving refunds by making the process confusing.
Customers may face delays and obstacles when requesting refunds.
These tactics can discourage people from completing their refund requests.
Consumers have legal rights to claim refunds and can use them to push back.
The report provides advice to help customers understand and use their consumer rights.
The information was shared on a program called Morning Live on BBC iPlayer.
The video requires JavaScript enabled in the browser to watch.
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From July 1, the UK energy regulator Ofgem raised the price cap on energy bills by about 13%, increasing the typical annual cost for households in England, Scotland, and Wales. The price cap limits how much energy companies can charge for standard tariffs, affecting around 33 million homes and reflecting the rise in wholesale gas and electricity prices.
Key Facts
The typical annual energy bill rose by £221, from £1,641 to £1,862 for direct debit customers on standard variable tariffs.
Ofgem sets the energy price cap every three months for gas and electricity prices.
The new gas price cap is 7.33 pence per kilowatt-hour (kWh), up from 5.74p; electricity is capped at 26.11p per kWh, up from 24.67p.
About 33 million households in England, Scotland, and Wales are covered by this cap.
Bills vary by payment method: direct debit customers face £1,862, standard credit £2,005, and prepayment customers £1,812 annually after the increase.
Ofgem bases the cap on a “typical” household, now estimated to use 9,500 kWh of gas and 2,500 kWh of electricity annually, slightly lower than previous estimates.
Standing charges, which are fixed daily fees for energy connection, remain mostly unchanged at about 57p per day for electricity and 29p per day for gas.
Ofgem encourages energy companies to offer tariffs with low standing charges but higher per-unit costs to provide more options for customers.
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President Donald Trump earned over $1 billion in 2025 from cryptocurrency activities. His income mainly came from royalties on the Trump memecoin and token sales through the company World Liberty Financial.
Key Facts
Trump’s 2025 financial disclosure shows over $1 billion earned from crypto ventures.
Money came from royalties related to the Trump memecoin.
Additional income was from token sales by World Liberty Financial, a crypto company.
Watchdog groups raised concerns about possible conflicts of interest.
The U.S. Commerce Department lifted an export ban on advanced AI models from Anthropic in the same time frame.
The financial gains happened while Trump was serving as U.S. President in 2025.
The article mentions ongoing crypto-related legislative changes in the U.S. Congress supporting deregulation.
The news was reported by France 24 on January 7, 2026.
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