Reddit will join the S&P 500 index starting Tuesday, which is a list of the 500 biggest and most stable U.S. companies. This means more investors and funds will buy Reddit stock as part of their investments.
Key Facts
Reddit will join the S&P 500 index next week.
The S&P 500 includes major U.S. companies that show stability and size.
Reddit’s stock price rose nearly 14% recently after the announcement.
Inclusion in the index leads mutual funds and exchange-traded funds to buy the stock.
Reddit must have been publicly traded for at least 12 months to qualify.
The company reported its highest quarterly revenue recently and has been profitable since going public in 2024.
Wall Street expects Reddit’s profits to more than double by 2026 due to rising revenue.
The index operator, S&P Dow Jones Indices, follows strict rules for adding companies.
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A $10,000 short-term certificate of deposit (CD) account can earn guaranteed interest over the next year with fixed rates that protect the principal. Rates vary by term, with potential earnings ranging from about $97 in three months to $425 in one year.
Key Facts
CDs have fixed interest rates, so earnings are predictable and not affected by market changes.
Short-term CDs mature in one year or less, offering flexibility to adjust strategies later.
Interest rates on short-term CDs today are higher than a year ago.
Example earnings on $10,000: about $97 for 3 months at 3.95%, $208 for 6 months at 4.20%, $306 for 9 months at 4.10%, and $425 for one year at 4.25%.
CD accounts are insured by the FDIC up to $250,000, protecting savers’ money.
Early withdrawal from a CD account usually incurs fees that can reduce or eliminate earned interest.
Savers should compare CD rates from different banks to find the best returns before depositing money.
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Debt collectors may call about debts that do not appear on your credit report. This can happen for several reasons, such as the debt not being reported yet, being too old to show up, or errors in information.
Key Facts
Credit reports do not always show every debt you owe.
Not all creditors or collectors report debts to the main credit bureaus (Equifax, Experian, TransUnion).
There can be a delay between when debt collection starts and when it appears on your report.
Debts usually stay on credit reports for about seven years before being removed.
A debt may still be legally collectible even if it no longer appears on your credit report.
Checking all three credit reports can help you see if a debt is listed anywhere.
Sometimes debt collectors contact the wrong person due to name confusion or identity theft.
Scammers may also pretend to be debt collectors, so it is important to verify the debt before paying.
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Putting $50,000 into a high-yield savings account could earn you about $2,000 in interest in a year if rates stay around 4%. These accounts let you access your money anytime and may pay more interest if rates increase.
Key Facts
High-yield savings accounts currently offer interest rates close to 4%.
A $50,000 deposit could earn roughly $1,975 to $2,050 in interest over 12 months at these rates.
Interest rates on these accounts can go up or down, affecting earnings.
Unlike certificates of deposit (CDs), high-yield savings accounts allow you to withdraw money anytime.
Adding more money during the year would increase your total interest earned.
These accounts carry no risk to your original deposit (principal).
Shopping around is important to find the best interest rate among banks.
Earnings projections assume you do not withdraw or add funds during the year.
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Thames Water plans to restart its desalination plant in Beckton, east London, by the end of the year to help refill reservoirs during winter after the current drought ends. The plant has rarely operated since it opened in 2011 and faces financial and technical challenges.
Key Facts
Thames Water’s Beckton desalination plant is the only one in the UK and was built to provide drinking water during droughts.
The plant has run only five times in 15 years, supplying the equivalent of about seven days’ water demand for London.
It cost about £500 million to build and maintain, funded by customer bills.
Thames Water hopes to restart the plant late this year to support reservoir recovery over winter.
The decision to use the plant depends on weather, water demand, and reservoir levels.
The plant uses special membranes to filter salt from seawater; these membranes recently reached the end of their life and face replacement issues.
Running the plant is expensive, especially because of high electricity costs, and the company is financially strained and partly controlled by creditors.
Thames Water’s performance during this drought will be carefully reviewed by government officials before deciding the company’s future.
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The FDA has issued a Class I recall for nearly 1.6 million cartons of eggs. This is the highest risk level, meaning the eggs could cause serious health problems or death if people eat them.
Key Facts
The recall covers about 1.6 million cartons of eggs.
It is labeled as a Class I recall by the FDA.
Class I recalls are for products that can cause serious health issues or death.
The recalled eggs are considered unsafe for consumption.
The FDA monitors and enforces recalls to protect public health.
Consumers should check their eggs and follow recall instructions.
The recall aims to prevent illness caused by contaminated eggs.
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CBS Mornings is offering special discounts on various products that aim to improve daily life. People can find these deals by visiting the website cbsdeals.com.
Key Facts
CBS Mornings shares exclusive product discounts.
The deals focus on items to enhance everyday living.
Shoppers can access these offers at cbsdeals.com.
CBS earns commissions when people buy through the website.
The discounts are featured during the CBS Mornings show.
The information is also available on the CBS News app.
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People with both federal and private student loans need to know that federal loan forgiveness programs usually only apply to federal loans. Private loans are not covered by federal forgiveness rules and must be managed separately, sometimes with fewer protections.
Key Facts
Major changes to federal student loan repayment options started on July 1.
Federal and private student loans have different repayment rules and protections.
Federal loan forgiveness programs apply only to federal loans, not private loans.
Common federal forgiveness programs include Public Service Loan Forgiveness, income-driven repayment forgiveness, Teacher Loan Forgiveness, and loan discharges for special situations.
Private student loans usually do not qualify for federal forgiveness but may have some relief options set by individual lenders.
Refinancing federal loans into private loans may cause loss of eligibility for federal forgiveness programs.
Borrowers with both loan types should carefully compare their options to avoid losing federal protections.
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Many people may want to change their savings accounts now because interest rates are higher than usual. Traditional savings accounts pay very low interest, often less than inflation, so switching to accounts like high-yield savings, money market accounts, or certificates of deposit (CDs) can help earn more money.
Key Facts
Traditional savings accounts currently pay about 0.38% interest on average.
Inflation is around 3.4%, so traditional accounts lose value over time.
High-yield savings and money market accounts offer interest rates near or above 4%.
Certificates of deposit (CDs) can pay up to about 4.35% interest with a fixed rate.
If an account pays less than 3.4%, it does not keep up with inflation.
Interest earnings are sometimes hard to find on monthly statements in low-rate accounts.
Online marketplaces can help compare rates and find better accounts.
Switching savings accounts can lead to higher returns without much difficulty.
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U.S. retail sales dropped by 0.6% in July, the biggest decline in over a year, after strong spending in previous months. This decrease, along with slower job growth and rising costs, suggests the economy might be slowing down. Higher prices and increased credit card debt are causing consumers to spend less.
Key Facts
Retail sales fell 0.6% in July, the largest drop since May 2025.
Spending had risen slightly by 0.2% in June before the July decline.
Gas station sales dropped 0.9% due to lower fuel prices early in July.
Gas prices increased later in July, reaching about $4.08 per gallon.
Americans owe over $1 trillion in credit card debt, up 60% from five years ago.
Online sales fell 2.2% after a big boost from Amazon Prime Day in June.
Inflation rose 3.4% year-over-year in July, down slightly from 3.5% in June.
Restaurant sales were the only services category to increase, growing by 0.5%.
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The UK government is reviewing its goal for electric vehicle (EV) sales after car makers asked for lower targets to avoid high costs and job losses. The current plan requires 80% of new cars sold by 2030 to be electric, but the government is thinking about reducing this target to as low as 50%.
Key Facts
The UK currently aims for 80% of new car sales to be electric vehicles by 2030.
Car makers have asked the government to lower this target, citing cost and job risks.
The government is considering cutting the target to 50%, allowing more hybrid vehicle sales.
The ban on selling only petrol or diesel cars after 2030 will remain.
Another option is to keep the 80% target but extend the deadline for full compliance to 2034.
The rules requiring more EV sales gradually increased yearly from 33% in 2026 to 80% in 2030.
Some groups say lowering the target weakens climate goals and harms the environment.
The policy has changed multiple times in recent years, including delays by previous prime ministers.
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BP plans to develop a large offshore gasfield in Venezuela by partnering with companies linked to President Trump’s administration. This deal marks one of the first big foreign investments in Venezuela’s oil and gas industry since the US took control of the country’s oil sector.
Key Facts
BP will develop the second phase of the Loran gasfield offshore Venezuela.
BP is partnering with two oil firms connected to President Donald Trump’s family and administration.
One partner firm is owned by the Al-Khayyat brothers, who have business ties with Ivanka Trump and Jared Kushner.
BP will also collaborate with a UAE state-owned oil investment company led by Sultan Al Jaber.
This is one of the first major foreign oil investments in Venezuela since the US ousted Nicolás Maduro in January.
Shell has a licence for the first phase of the Loran gasfield, and Italy’s Eni is also in talks for projects in Venezuela.
BP’s chief executive, Meg O’Neill, calls this an important step to develop Venezuela’s gas resources.
Venezuela’s once-large oil output dropped from 3.5 million barrels a day to about 1 million due to problems in the industry but is now rising under US influence.
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A study suggests that unemployed women who take GLP-1 drugs might have a better chance of getting hired. These drugs, which affect the body and can help with health, appear to influence career opportunities for some women.
Key Facts
GLP-1 drugs are a type of medication that can impact weight and metabolism.
The study focused on unemployed women taking these drugs.
Results indicate that these women may be more likely to find new jobs.
The research suggests a possible link between taking GLP-1 drugs and hiring chances.
The study was reported by CBS MoneyWatch and covered by CBS News.
The findings might influence how health treatments relate to employment prospects.
Details on why or how the drugs help with hiring were not included in the summary.
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A federal court ruled that President Trump legally ended a tariff exemption for low-cost goods last year. The court said this action is different from the larger tariffs the Supreme Court had ruled were not authorized.
Key Facts
A federal trade court made the ruling on Thursday.
President Trump ended a tariff exemption for low-cost goods in 2023.
He used a 1970s emergency law to do this.
The Supreme Court had previously said that a different set of tariffs by Trump was not allowed under this law.
The trade court said ending the exemption is a separate legal issue from the larger tariffs.
This ruling supports the president’s use of the emergency statute in this case.
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A woman who runs a vintage resale shop found a small marble urn labeled "My beloved Lady" at a thrift store, which she believes once held a pet’s ashes. Although donating empty urns is allowed, urns containing ashes are handled respectfully, and how this urn ended up at the store is unclear.
Key Facts
The thrift store market in the U.S. is growing, worth about $61 billion by 2026.
Christy Grace, a vintage reseller from Tampa, found a pet urn on a thrift store shelf.
The urn had "My beloved Lady" written on the bottom and appeared to be for ashes.
There are no U.S. rules stopping people from donating empty urns to thrift stores.
Funeral directors say urns with ashes should not be donated and must be handled carefully.
Grace often finds empty urns donated by families, usually after ashes have been spread or owners have passed away.
Grace posted about the find because it was unusual but notes thrift stores often have strange items.
Examples of odd thrift finds include animal skulls, a human tooth, and a model heart with a love poem.
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The UK government, led by Andy Burnham, has proposed lowering the target for new electric vehicle (EV) sales in 2030 from 80% to as low as 50%. This consultation considers various target levels as the automotive industry requests more flexible rules due to pressures on car makers, while climate groups oppose the change.
Key Facts
The UK government is consulting on reducing the EV sales target in 2030 from 80% to possibly 70%, 60%, or 50%.
Existing rules require carmakers to increase electric car sales yearly, with a ban on new petrol and diesel cars planned from 2035.
The current year has seen a 29% increase in electric car sales in the UK.
The automotive industry claims the targets force them to discount EVs and risk job losses or factory closures.
The consultation also considers extending "flexibilities" that allow more plug-in hybrid sales and delayed compliance until 2034.
Climate campaigners and the EV charging industry strongly oppose lowering the targets, citing the switch to EVs as crucial to reducing carbon emissions.
The UK saw its hottest day recently and severe heatwaves linked to climate change, highlighting concerns about environmental impact.
The consultation will run until 23 October and includes options to keep the target unchanged or reduce it.
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Retail sales in the United States fell by 0.6% in July, marking the largest decline since May 2025. This drop followed higher spending earlier in the year, which was boosted by government tax refunds that are now fading.
Key Facts
Retail sales decreased 0.6% in July, compared to a 0.2% gain in June.
The rise in spending in April and May was largely due to government tax refunds.
Excluding gas stations and auto dealers, retail sales fell by 0.2% in July.
Gas prices increased to $4.08 per gallon in July, up from $3.85 a month earlier.
Spending dropped in categories such as consumer electronics and online shopping.
The data does not include spending on travel and hotel stays.
Restaurant sales, as a services category, increased by 0.5% in July.
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Tim Cook, the outgoing CEO of Apple, talked about a new Apple factory in Houston and how it will create jobs. He also shared his thoughts on his time leading the company as he gets ready to leave the CEO role.
Key Facts
Tim Cook is stepping down as Apple’s CEO.
Apple is opening a new manufacturing plant in Houston, Texas.
The new factory is expected to create jobs in the U.S.
Cook discussed how the plant fits into Apple’s plan to increase U.S. manufacturing.
He reflected on his leadership and legacy at Apple.
The interview was conducted by CBS News reporter Jo Ling Kent.
The news was shared on CBS News platforms.
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The U.S. government sold 30-year Treasury bonds at the highest borrowing costs seen since 2001, with a 5.216% interest rate. This rise in borrowing costs reflects investors' concerns about ongoing inflation and the country’s growing national debt.
Key Facts
The U.S. sold $25 billion in 30-year Treasury bonds at a yield of 5.216%, the highest in 25 years.
Higher bond yields mean investors want more return to compensate for risks like inflation.
Inflation fears suggest that policymakers may keep interest rates high for a longer time.
The government needs more borrowing because of increased spending, tax cuts, and tariff refunds under President Donald Trump’s administration.
U.S. retail spending fell 0.6% in July, showing consumers are feeling financial pressure.
Spending dropped in areas including online shopping, vehicle sales, and gasoline stations.
In China, new loans fell by a record amount in July despite lower borrowing costs, indicating weaker demand.
The global financial markets are reacting to these shifts in government debt and borrowing costs.
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The U.S. Treasury is worried that a weak Japanese yen could cause U.S. government borrowing costs, called Treasury yields, to rise. The Treasury's focus seems to be on this issue rather than on policies of the European Central Bank.
Key Facts
The U.S. Treasury is concerned about the yen losing value against other currencies.
A weaker yen may lead to higher U.S. Treasury yields.
Treasury yields are the interest rates on U.S. government debt.
Higher yields mean it costs more for the U.S. government to borrow money.
The U.S. Treasury is paying less attention to the European Central Bank's actions.
The moves between the U.S. and Japan could set an example for how countries intervene in currency markets.
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