Investors are getting ready to buy shares when big artificial intelligence (AI) companies like SpaceX, Anthropic, and OpenAI start selling stock to the public. This shows people expect these companies to grow as AI becomes more important.
Key Facts
SpaceX, Anthropic, and OpenAI are large companies working with AI technology.
These companies plan to offer shares to the public, a process called "going public."
Investors see the AI industry as a new opportunity for growth.
Going public means anyone can buy parts of these companies through the stock market.
Market experts expect strong interest in these AI companies' stock sales.
This preparation signals confidence in AI's growing role in business and technology.
The news was discussed by Emily Chang, a Bloomberg host, on CBS News.
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SpaceX, Elon Musk’s rocket company, is selling 555.6 million shares to the public for the first time at $135 each in what could be the largest IPO ever. The company plans to raise about $75 billion to fund projects like launching 100,000 new Starlink satellites and sending people to Mars.
Key Facts
SpaceX is offering 555.6 million shares to investors at $135 per share.
The IPO could raise around $75 billion, making it the biggest initial public offering ever.
Elon Musk will keep control through special Class B shares, meaning he has the final say on company decisions.
Part of Musk’s compensation depends on establishing a colony of one million people on Mars.
Going public will allow SpaceX to access capital but also means more financial reporting and regulatory oversight.
Some investors are concerned about Marsk’s strong control, mandatory arbitration of disputes, and other IPO rules.
Musk said the public sale is partly to fund a plan to put 100,000 new Starlink satellites in orbit and build space-based AI data centers.
SpaceX warns that if Musk leaves, the company might struggle to keep its growth and reputation.
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Creditors can freeze your online bank account to collect unpaid debts, but they usually need to win a court case first. Online banks follow the same rules as traditional banks, so having money in an online-only account does not protect it from legal collection actions.
Key Facts
Creditors must often sue and get a court judgment before freezing bank accounts.
Online-only banks follow the same legal rules as regular banks for freezing accounts.
A bank levy allows creditors to take money from your bank account to pay a debt.
Not all debts lead to account freezes; smaller debts may be sent to collections instead.
Federal benefits like Social Security are usually protected from being taken by creditors.
Protection of funds can vary by state and the way money is mixed in the account.
Different types of digital accounts, like prepaid cards or digital wallets, may have different rules but can still face collection actions.
It is best to contact creditors early to negotiate payment plans or hardship options before legal steps happen.
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Major U.S. retailers like Walmart, Amazon, and Target are moving up their summer sales events to June to attract more shoppers who are struggling with higher prices and tight budgets. These stores are offering discounts and special deals to help customers save money during tough economic times.
Key Facts
Walmart will hold its summer savings event from June 22 to June 28, offering many deals on popular products and back-to-school items.
Amazon’s Prime Day will run from June 23 to June 26 with millions of deals across over 35 categories and a “Free Groceries for a Year” sweepstakes.
Target’s summer sale also takes place June 23 to June 26, featuring discounts up to 45% on clothes, beauty, home items, toys, and essentials.
Dollar General’s CEO noted that consumers are looking for value due to high inflation and gas prices above $4.
Walmart’s CFO said higher-income shoppers continue spending confidently, but lower-income shoppers are more careful with their money.
Many customers are now filling up their gas tanks with less than 10 gallons, showing signs of financial caution.
Inflation hit a three-year high in May, mainly driven by energy costs.
Surveys show more than half of Americans feel that high prices are hurting their personal finances.
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SpaceX plans to launch the largest stock market offering ever, valued at $1.78 trillion, by selling $75 billion in shares. Some experts warn the company's high valuation may not match its current financial performance, suggesting investors be cautious.
Key Facts
SpaceX is set to go public with a $1.78 trillion valuation through a $75 billion initial public offering (IPO).
The IPO offering is oversubscribed, with more than $250 billion in bids from investors.
This $75 billion offering is nearly three times larger than the previous record held by Saudi Aramco’s $29.4 billion IPO.
Investment research firm Morningstar values SpaceX shares at $63 each, below the expected $135 IPO price.
SpaceX reported a net loss of $4.9 billion in 2025.
The company operates three main business areas: space rockets, Starlink internet satellites, and artificial intelligence (xAI).
US Senator Elizabeth Warren requested a delay on the IPO because of concerns about valuation and corporate governance.
The Nasdaq may include SpaceX in its stock indices quickly, which could increase demand for its shares; however, S&P Dow Jones Indices will not fast-track the listing.
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The European Central Bank (ECB) increased interest rates by 0.25% on Thursday. This happened before the upcoming Federal Reserve meeting led by new chair Kevin Warsh, as inflation concerns rise due to the conflict in the Middle East.
Key Facts
The ECB raised interest rates by 25 basis points (0.25%).
The rate increase came before the Federal Reserve’s meeting next week.
Kevin Warsh is the new chair of the Federal Reserve’s Federal Open Market Committee (FOMC).
Inflation pressures are linked to the conflict in the Middle East.
The ECB described the decision to raise rates as strong and supported by several factors.
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New data from the Producer Price Index shows that wholesale prices have risen significantly. This means that the cost for businesses to buy goods before selling them has increased, indicating ongoing inflation in the supply chain.
Key Facts
The Producer Price Index measures the average change in prices received by wholesalers for their products.
Recent data shows a large increase in wholesale prices.
Higher wholesale prices suggest inflation is still a problem for businesses.
Inflation at this stage can lead to higher prices for consumers later.
The data was reported by CBS News and explained by Kathryn Watson.
This inflation trend affects the cost of goods before they reach retail stores.
Rising wholesale prices can impact the overall economy by increasing production costs.
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Texas is experiencing a large increase in requests to build data centers, which need a lot of electricity and water. The state’s electricity operator, ERCOT, has received over 480 requests for data centers seeking power far beyond current grid capacity, leading to concerns and calls for stricter rules from Governor Greg Abbott.
Key Facts
More than 480 large data centers want to connect to Texas’s main power grid, ERCOT, by 2032.
These data centers are asking for over 418 gigawatts of power, almost five times ERCOT’s highest recorded demand of 85.8 gigawatts.
The top Texas counties for data center demands include Ellis, Johnson, Dallas, Mitchell, Scurry, Cameron, Harris, Hill, Williamson, and Tarrant.
Many proposed data centers may not be built due to limits in grid equipment and AI chip supply.
Governor Abbott proposed new rules to make data centers pay for their own power upgrades and add power generation to reduce stress on the grid.
Abbott also wants stricter environmental rules, such as requiring closed-loop water systems, yearly reports on resource use, and ending tax breaks for data centers.
Across the U.S., many communities oppose new data centers because they use huge amounts of water and electricity, causing local strain.
Some places, like Monterey Park, California, have banned new data centers after strong voter opposition.
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The US government plans to transfer about 280 hectares of wildlife refuge land in South Texas to SpaceX near its Starbase site. This land swap will exchange the refuge land for other property SpaceX owns further north. Some environmental groups have filed lawsuits to block the deal, citing concerns about wildlife and public beach access.
Key Facts
SpaceX is launching a record-breaking stock market offering (IPO) on Friday.
The US government will give SpaceX about 280 hectares (around 700 acres) of land currently part of a nature reserve.
This land is near SpaceX’s Starbase rocket launch facility in South Texas.
SpaceX will trade this land for property it owns farther north in Texas.
Environmental groups are suing to stop the land swap.
The groups worry that expanding Starbase will harm local wildlife and reduce beach access for nearby communities.
The land transfer is part of the government’s plans involving Starbase and SpaceX operations.
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CBS Mornings Deals offers special discounts on various products that aim to improve daily life. Customers can visit cbsdeals.com to find and buy these discounted items, with CBS earning a commission from purchases made through the site.
Key Facts
CBS Mornings Deals features products with exclusive discounts.
The deals focus on items that can improve everyday lifestyle.
Shoppers can access these deals at cbsdeals.com.
CBS earns money through commissions when people buy via the website.
The offer is promoted during the CBS Mornings show.
The website supports multiple web browsers like Chrome and Safari.
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U.S. wholesale prices rose sharply in May, reaching the highest level since November 2022. This increase was largely driven by higher energy costs linked to the conflict in Iran. The rise in wholesale prices suggests inflation pressures may continue for consumers.
Key Facts
The Producer Price Index (PPI), which measures inflation before it affects consumers, increased 6.5% in May compared to last year.
Monthly wholesale prices rose by 1.1% from April to May, more than double the expected 0.6% increase.
Wholesale gasoline prices went up more than 23% from April to May and about 70% compared to the previous year.
Consumer prices also rose quickly in May, with the Consumer Price Index increasing 4.2% annually, the fastest in over three years.
The Federal Reserve is expected to keep interest rates steady in June but may consider raising them later due to rising inflation.
Core wholesale prices, which exclude food and energy, increased 0.4% in May and 4.9% over the past year.
Higher wholesale prices often lead to higher prices for consumers if businesses pass on costs.
The data points to continuing inflation pressures in the U.S. economy, especially with energy prices remaining high.
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Debt collectors generally cannot take money from a spouse’s paycheck for debt that only one partner owes. However, if both spouses share the debt legally or live in certain states with special laws, a spouse’s income could be at risk for repayment.
Key Facts
Debt collectors usually cannot garnish a spouse’s wages if only one person owes a debt.
If both spouses signed the loan or credit agreement, both are responsible and wages of either may be garnished.
Some states have community property laws where debts and assets gained during marriage are shared.
In community property states, creditors may have more rights to collect from a spouse’s income.
Wage garnishment rules vary widely by state, so local laws matter a lot.
Certain debts like unpaid taxes, child support, and some government debts can lead to stronger collection efforts.
Medical debts can also create responsibilities for spouses in some states.
It is often helpful to consult a lawyer to understand how state laws apply to debt collection for spouses.
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The U.S. Food and Drug Administration (FDA) gave emergency approval for a generic pill that pets can take without a prescription. This pill treats New World screwworm, a parasite that affects dogs, cats, and livestock. Officials confirmed several cases of this parasite in cattle in Texas and New Mexico.
Key Facts
The FDA approved an over-the-counter generic tablet to treat New World screwworm in pets.
This is the first generic animal drug authorized against the screwworm parasite.
The approval was granted as an emergency use authorization.
Screwworm parasites have been found in at least seven cattle in Texas and New Mexico.
The drug works by killing the parasite to protect affected animals.
New World screwworm is a parasite that can hurt pets and livestock if untreated.
Over-the-counter means pet owners can buy the drug without a vet prescription.
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Andy Burnham, mayor of Greater Manchester, said he will not pay direct compensation to Waspi women who were affected by changes to the state pension age. Instead, he is open to offering other benefits like cheaper transport to support these women.
Key Facts
Waspi women are those born in the 1950s who lost pension benefits due to changes in the state pension age.
Burnham initially supported compensation but reversed this after concerns about the high cost.
The government said compensating all affected women could cost up to £10.3 billion.
A parliamentary ombudsman recommended compensation in March 2024, but the government refused to pay.
Burnham wants to provide other benefits, such as early access to concessionary travel in Greater Manchester.
Waspi campaigners say many women were not properly informed about pension age changes.
The pension age was increased from 60 to 65, then 66, faster than originally planned.
Labour MPs, including Burnham, have supported the Waspi campaign even though compensation is not in the Labour manifesto.
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Home prices in the San Francisco Bay Area are rising quickly due to a surge in wealth from employees at major artificial intelligence (AI) companies preparing for stock market offerings. The growing money linked to these companies is increasing demand for homes, while the supply of houses remains low, pushing prices even higher.
Key Facts
Median home prices in San Francisco reached over $2 million in March 2026, up 18% from the previous year.
Houses sell faster now, with an average of 29 days on the market, the quickest pace since spring 2022.
More than 600 OpenAI employees sold shares worth $6.6 billion last fall; about 75 of them earned $30 million each.
Employees at AI companies like OpenAI, Anthropic, and SpaceX are expected to see large financial gains from upcoming stock market listings.
Some potential home buyers want to buy before the IPOs happen, expecting prices to rise further.
The trend of tech company wealth driving housing demand is similar to what happened in the dotcom era and early 2010s tech boom.
SpaceX’s planned initial public offering aims for a valuation of $1.77 trillion, potentially the largest IPO ever.
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West Devon Council has given out 78 crisis grant payments since April to help people facing financial difficulties, especially with rising heating oil costs. The council received over £300,000 from a larger Devon fund and plans to provide quick payments and long-term support through an advice team and other aid programs.
Key Facts
Since April, West Devon Council has made 78 crisis grant payments to people in financial trouble.
Many payments help families struggling with higher heating oil prices.
The Crisis and Resilience Fund replaced the earlier Household Support Fund.
New government rules require payments to be made within 48 hours after a completed application.
West Devon received more than £300,000 from an £8.4 million fund for Devon, with two-thirds for immediate crisis help.
The council approved spending £20,000 on a part-time case worker who specializes in benefits and debt advice.
Homemaker Southwest, supported by the council, previously helped residents gain £20,600 over six months.
Around £10,000 will be reserved to provide items like slow cookers, electric blankets, and warm clothes for people in need.
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Ticket prices for events like concerts, sports games, and the World Cup are going up. This article explains the reasons for these price increases and offers tips on how people can save money when buying tickets.
Key Facts
Ticket prices are rising for concerts, sports events, and major competitions like the World Cup and NBA Finals.
Several factors contribute to higher prices, including increased demand and higher costs for event organizers.
Technology and online platforms have changed how tickets are sold, sometimes leading to higher fees.
Resale and secondary markets can also drive up ticket costs.
Consumers can save money by buying tickets early, using trusted sellers, and looking for discounts.
Event popularity and limited seat availability influence ticket price increases.
Organizers face higher expenses for security, venues, and production, impacting ticket costs.
Understanding these factors helps consumers make better decisions when purchasing event tickets.
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DS Smith, a paper packaging company, is considering closing its factory in Launceston, where 167 people work. Workers and local residents protested because they worry the closure would hurt the community and cause job losses.
Key Facts
DS Smith has employed workers in Launceston for nearly 60 years.
The company is reviewing its UK packaging operations due to difficult market conditions.
A consultation is ongoing between management, workers, and unions about the factory’s future.
The proposed closure could lead to job losses for 167 employees.
Local people, including families of workers, organized a protest to highlight the importance of the plant.
DS Smith recently made 70 job cuts at another UK site in Louth.
Several other DS Smith factories in the UK have closed after consultations last year.
The company said it supports workers during the consultation but cannot give more details until it ends.
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The chief executive of BT, Allison Kirkby, received a pay and bonus package of £5.6 million for the year ending March 2024, more than double her previous year's total. This is the largest pay award for a BT boss in over ten years, reflecting the company's improved share price and progress in its network upgrade projects.
Key Facts
Allison Kirkby became BT’s chief executive in February 2024.
Her total pay, including bonuses and shares, was £5.58 million for the year ending March 2024.
This amount more than doubled her £2.48 million package from her first year as CEO.
The package is larger than the £3.7 million paid to her predecessor Philip Jansen.
The highest BT CEO pay before was £9.4 million to Ian Livingston in 2012-13.
Kirkby received a £1 million cash bonus and £3.25 million in share awards to be paid over three years.
BT’s share price rose nearly 80% since Kirkby started, boosting the value of her bonuses.
The company announced a £15 billion investment to upgrade to full fibre broadband and 5G.
BT plans to cut 55,000 jobs by 2030 as part of efficiency improvements and the end of its building phase.
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