The Treasury Department and IRS have set rules for employer programs that let parents put pre-tax money into Trump accounts for their children. These accounts are a way to save money on taxes while investing for children’s futures, and employers may also contribute or match some of the money.
Key Facts
The Treasury and IRS released new guidelines for employer-sponsored contributions to Trump accounts.
Trump accounts are tax-deferred investment accounts for children.
Parents can contribute money directly from their paychecks before taxes are taken out.
Employers may also add money or match some of the parents’ contributions.
The announcement was made on a Tuesday.
This program aims to help families save for children’s futures through employer and parental contributions.
The rules include the process employers and parents must follow for contributions.
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Paramount CEO David Ellison may move the company’s headquarters out of California if the state continues to block its merger with Warner Bros Discovery and does not start settlement talks by October. California Attorney General Rob Bonta is leading a lawsuit to stop the merger, arguing it would reduce competition and harm the film industry.
Key Facts
Paramount plans to merge with Warner Bros Discovery in a deal worth $110 billion.
California is suing to block the merger, saying it would give the new company too much control over films and cable TV.
Paramount CEO David Ellison threatened to move the company out of California if talks do not begin by October 1.
Potential new headquarters states include Tennessee, Texas, or Georgia, which are not part of the lawsuit.
The merger has raised concerns about fewer opportunities for diverse stories in films and higher prices for consumers.
Ellison argues the lawsuit is about control over news outlets like CNN, not just market competition.
Paramount owns CBS News, Paramount Pictures, and recently consolidated with Skydance and Warner Bros Discovery.
California Attorney General Rob Bonta leads a coalition of 12 states opposing the merger on antitrust grounds.
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Used electric vehicle (EV) prices in the U.S. have risen by over 5% since February, despite more cars being available from leases ending. Sales of used EVs increased by about 20% year over year, with many buyers interested in models priced between $25,000 and $30,000.
Key Facts
Used EV supply is growing due to more ex-lease vehicles entering the market.
Prices for used EVs have increased by over 5% since February, partly influenced by geopolitical events.
Used EV sales were up by 25% year over year by May but slowed slightly in June, resulting in about a 20% overall increase.
Used EVs spend less time on dealer lots (38 days) compared to new EVs (81 days).
There are over 9,000 used EVs priced between $25,000 and $30,000 available nationwide.
Popular models in this price range include Chevrolet Blazer EV, Chevrolet Equinox EV, Ford Mustang Mach-E, Hyundai Ioniq 5, Kia EV6, and Tesla models.
Some models, like the Hyundai Ioniq 5 and Kia EV6, are recommended despite past reliability concerns because of extended warranties.
Less common models in this range include the Nissan Ariya, Volkswagen ID.4, Honda Prologue, Toyota bZ4x, Subaru Solterra, and Polestar 2 sedan.
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A new survey shows many hourly workers feel unchallenged and less productive at their jobs, a condition called "rusting out." This happens when employees feel underused, leading to lower motivation and job performance, even though they still show up and do their work.
Key Facts
The survey was done by Deputy, a company that makes scheduling software.
About 15% of workers said they feel just "OK" about their jobs, which signals a risk of rusting out.
"Rusting out" means feeling like you are not using your skills fully, similar to a tool that gets rusty if unused.
This feeling is different from burnout, which is more about exhaustion and visible disengagement.
Workers who are rusting out still perform their tasks but lose interest and purpose in their work.
One cause of rusting out is managers not supporting employee growth and development.
Rusting out can harm business performance because workers are not motivated to do their best.
The study focused on hourly workers in fields like hospitality, retail, and healthcare.
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Putting $75,000 into a one-year certificate of deposit (CD) at 4.40% interest will earn about $225 more than putting the same amount in a high-yield savings account at 4.10% interest over one year. However, a savings account’s interest rate can change over time, possibly increasing if the Federal Reserve raises rates, while a CD rate stays fixed for the term.
Key Facts
A one-year CD at 4.40% interest on $75,000 will earn about $3,300 in interest.
A high-yield savings account at 4.10% interest on $75,000 will earn about $3,075 in interest over one year.
The CD will earn $225 more than the high-yield savings account if rates stay the same.
High-yield savings accounts have variable rates that can change with market conditions.
The Federal Reserve might raise interest rates in September, which could increase savings account rates.
CDs have fixed rates that remain the same until the term ends, regardless of market changes.
Splitting money between CDs and savings accounts can balance the benefits of fixed and variable rates.
Traditional savings accounts earn much less interest, about 0.38%, which offers minimal growth.
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Richard Tice, deputy leader of the Reform party, has threatened legal action against the Guardian newspaper to force it to reveal its sources in reports about his and Nigel Farage’s financial dealings. The Guardian reported that some transactions were referred to the National Crime Agency due to money laundering concerns. Several experts and public figures criticized Tice’s legal threats as an attempt to intimidate journalists and block investigations into political funding.
Key Facts
Richard Tice sent a legal letter to the Guardian demanding disclosure of sources linked to reporting on his financial transactions.
The financial activities of Tice and Reform UK leader Nigel Farage have been investigated by the Guardian and referred to the National Crime Agency.
The Guardian uncovered secret donations: £1 million via Tice’s fundraising vehicle and £5 million to Farage before he announced his 2024 election run.
Banks reported some transactions to authorities over fears of money laundering.
Tice and Farage are suing the National Crime Agency, claiming leaks came from inside the agency.
Experts argue protected sources are essential for investigative journalism and that legal threats threaten press freedom.
The Guardian vows to defend its sources and continue reporting on political funding and financial transparency.
Former political figures and anti-corruption campaigners urge reforms to prevent wealthy individuals from using the law to block media scrutiny.
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The Food and Drug Administration (FDA) released a report about a recall of lettuce contaminated with the parasite Cyclospora. The report shows that less than 2.5% of the recalled lettuce from Taylor Farms went to Taco Bell, while most was sold to Walmart and other buyers.
Key Facts
Taylor Farms recalled 236,192 cases of lettuce due to Cyclospora contamination.
Only about 5,900 cases (less than 2.5%) went to Taco Bell’s parent company, Yum.
Walmart, under the Marketside brand, received 109,476 cases, which is over 46% of the recalled lettuce.
Taylor Farms’ own brand got 68,897 cases, about 29%.
Other recipients included Cross Valley Farms (8%), Sysco (4.9%), Markon (3.15%), Subway (3.4%), and Jack in the Box (2.2%).
Taylor Farms delayed recall and was not clear about the full distribution of the contaminated lettuce.
The FDA report provided more detailed information than Taylor Farms did in its recall notice.
The Centers for Disease Control and Prevention (CDC) specifically warned people not to eat shredded iceberg lettuce at Taco Bell in certain states due to cases linked to the chain.
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College move-in day is becoming more expensive for families as they prepare for students going back to campus. Many families face higher costs for items and services needed during this time.
Key Facts
College students are returning to campus for the new school year.
Move-in day costs for families are rising.
Families spend money on various items and services related to moving in.
The article highlights financial challenges linked to college preparation.
No specific prices or reasons for cost increases are detailed in the article excerpt.
The information is relevant to families with students attending college.
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A new skyscraper project called Georgia + Abbott has been approved by Vancouver city council. The project will include Western Canada's tallest tower at 1,033 feet, with a hotel, public spaces, housing, and Indigenous art features.
Key Facts
The Georgia + Abbott development will have a 1,033-foot hotel tower with a "forest in the sky" green space at the top.
It will be Vancouver’s first supertall building and the tallest tower in Western Canada.
The project covers over three million square feet across three connected sites in downtown Vancouver.
City council approval included rezoning a parking lot into social housing with a child-care center and Indigenous art gallery.
The development will create 1,783 homes, including market-rate, rental, and 237 social housing units.
The design was inspired by British Columbia’s rare glass-sea-sponge reefs, which influenced the building’s structure.
The project is expected to boost public spaces, transit connections, tourism, jobs, and investment.
Construction is expected to start after around five years of design work, permits, and technical studies.
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Apple TV is considering bidding for the US broadcast rights to golf’s Open Championship after its current deal with NBC ends in 2028. This move is part of Apple’s growing interest in sports broadcasting, competing with other streaming services like Netflix and Amazon.
Key Facts
Apple TV has had early talks with the golf organization R&A about bidding for US rights to the Open Championship.
NBC currently holds the US rights for the Open until 2028, shared with media company Versant and the Golf Channel.
Other streaming platforms like Netflix and Amazon may also bid for the Open rights.
Apple’s first big sports deal, a $2.5 billion 10-year contract for Major League Soccer, ended early due to low viewership.
Apple has a current five-year, $750 million exclusive US deal for Formula One racing rights.
The R&A values its relationship with NBC and Versant but is open to new bids as the US media rights cycle approaches.
Apple is committed to investing in sports broadcasting and is actively seeking new sports content rights.
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The U.S. government is appealing a court order that requires refunds of illegal tariffs to all importers, even those who did not sue. The government says a recent Supreme Court ruling limits such broad refund orders and importers who want refunds must sue individually.
Key Facts
A judge in the U.S. Court of International Trade ordered refunds for all companies that paid illegal tariffs.
The government argues this judge exceeded authority by ordering refunds to companies that did not file lawsuits.
The government appealed to the U.S. Court of Appeals for the Federal Circuit in June.
The appeal references a 2025 Supreme Court case that restricts universal injunctions—orders applying to all affected parties, not just specific ones.
Customs and Border Patrol has already refunded about $100 billion in tariffs.
A Congressional rule stops Customs from reprocessing tariffs once the administrative refund options expire.
Companies who want refunds after this must sue within legal deadlines.
Experts say refunding unlawful tariffs should not depend on whether businesses can sue, warning smaller businesses may be hurt.
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Nvidia has secured $500 billion in financing to support artificial intelligence projects. This funding comes from major Wall Street firms and highlights strong investor interest in AI and data centers.
Key Facts
Nvidia raised $500 billion in financing for AI-related work.
The funding is supported by leading Wall Street investors and companies.
The money will be used to boost artificial intelligence development.
This event shows significant excitement around AI technology and data centers.
Industry journalist William D. Cohan commented on the situation.
The scale of financing is unusually large for the tech and AI sectors.
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Many wealthy homeowners are choosing to remodel their current homes instead of moving. This decision is influenced by high home prices, low home sales, and the fact that many still have low mortgage rates, making moving less attractive.
Key Facts
Existing-home sales in the U.S. remain near historic lows due to affordability and economic concerns.
More than half of U.S. homeowners have mortgage rates below 4%, which is lower than current rates.
Higher borrowing costs discourage people from selling and buying new homes.
Older adults (50+) prefer to stay in their current homes and plan modifications to support aging.
Affluent homeowners focus on remodeling for comfort, customization, and lifestyle alignment.
Many clients want improvements in spaces like kitchens, master suites, and areas for family and work.
Remodeling supports long-term goals like retirement, hosting family, and aging in place.
Homeowners between 45 and 65 often have the financial means and clear plans for home use in coming years.
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Patrick M. Brenner writes that making bank charters a political issue could harm financial inclusion and reduce competition in the U.S. banking system. He suggests this politicization might limit access to banking services for some people.
Key Facts
Bank charters are permissions needed to operate banks legally.
The article says political influence is affecting how these charters are granted.
This influence can reduce competition among banks.
Less competition may lead to fewer choices and higher costs for customers.
Financial inclusion means making sure everyone can access banking services.
Politicization of bank charters might exclude some groups from these services.
The concern is mainly about the U.S. banking system.
The opinion warns about negative economic effects from this trend.
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The diamond industry is facing challenges as buyers want more transparency about what they pay for. More people are buying lab-grown diamonds, and companies like TD Diamonds are changing how they sell by sharing clear prices and details online.
Key Facts
The average price for a natural diamond engagement ring in the US was $7,364 in 2025, up 9% from the previous year.
Spending on natural diamond jewelry rose 25% to $4,063, with Gen Z making up over 75% of this market by value.
Lab-grown diamonds are now in over half of engagement rings bought by couples, showing shifting buyer preferences.
Traditionally, diamond pricing was unclear, with prices changing between dealers and limited verification for buyers.
TD Diamonds began posting exact prices and full details for stones online, a rare practice in the industry.
Posting prices openly helps customers feel informed and reduces guesswork or negotiation rituals.
Diamond grading should be seen as describing traits rather than simply ranking quality; visual appeal remains key.
Personal customer guidance remains important because choosing the right diamond is a subjective decision.
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The gap between rich and lower-income Americans in how much they spend and earn is getting smaller. Lower- and middle-income households are now increasing their spending and wages faster, which could make the economy more stable.
Key Facts
The U.S. economy has had a "K-shaped" gap where wealthy people spend more while others struggle.
Recent data shows lower-income people are now spending and earning more, catching up to middle-income groups.
Bank of America calls this change the "great convergence."
Lower-income households’ spending growth was 5.4% year over year, higher than the 4.9% for middle-income households.
After-tax wages for lower-income Americans rose 5.2% in July, exceeding wage gains for wealthier groups for the first time since December 2024.
The gap in spending growth between richest and poorest PNC bank customers shrank from 5 percentage points last year to just 0.1 points in July.
The improvement is linked to more lower-income people having jobs and earning paychecks.
The White House and Treasury Secretary say this means the "K-shaped" economy is ending, although richest Americans still spend more.
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Toyota is recalling about 655,000 Camry cars worldwide because a display error may stop safety signals like turn signals and hazard lights from working when the car starts. Owners will be notified to get a free software update to fix the problem.
Key Facts
The recall affects around 655,000 Camry vehicles made from December 2023 to July 2026.
Over 508,000 of these cars were sold in the U.S., mainly 2025-2026 Camry Hybrids.
The problem is with a 7-inch display that can go blank at startup, causing turn signals, hazard lights, seat belt reminders, and key-in-ignition alerts to fail.
This failure increases the risk of crashes because other drivers may not see important signals.
Toyota Motor North America will notify owners to bring their cars to dealers for a free software update.
Owner letters will start mailing on September 21 and finish by early October in the U.S.
The affected vehicles were made in plants located in the U.S., Japan, and Thailand.
Customers can check if their car is affected on Toyota’s or NHTSA’s websites or by calling Toyota customer support.
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A yacht owned by Meta CEO Mark Zuckerberg did not respond to a nearby boat that ran out of fuel. A spokesperson said the yacht crew did not hear the distress call and helped later once they became aware of the situation.
Key Facts
The incident involves a yacht owned by Mark Zuckerberg, the CEO of Meta.
Another boat nearby ran out of fuel and made a call for help.
The yacht crew did not respond initially because they said they did not hear the call.
A spokesperson named Brian Baker spoke on behalf of Mark Zuckerberg.
The yacht crew helped after they realized there was a problem.
The situation caused public attention and some controversy.
Meta is the company behind Facebook and other technology services.
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When negotiating debt forgiveness with a creditor, what you say can affect the outcome. Certain statements can weaken your case or limit your ability to negotiate a better deal.
Key Facts
Debt forgiveness means trying to settle a debt for less than the full amount owed.
Credit card interest rates are around 22%, making debt hard to pay off.
Inflation raises living costs, leaving less money to pay debts.
Saying you can afford payments but don’t want to pay full balance hurts your case.
Avoid promising to pay "whatever it takes" because it reduces negotiation power.
Revealing you have lots of savings can make creditors less willing to forgive debt.
Be honest but careful about what financial information you share during negotiations.
Explain why your debt payments are unaffordable by mentioning changes like job loss or higher essential expenses.
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The confidence of U.S. small business owners increased in July compared to June, according to a recent report. However, their uncertainty about economic conditions also went up during the same time.
Key Facts
The U.S. small business optimism index rose by over two points from June to July.
The uncertainty index for small businesses also increased in July.
The data comes from the National Federation of Independent Business (NFIB).
The report reflects how small business owners feel about the economy and future conditions.
Both optimism and uncertainty rising shows mixed feelings among small businesses about the economic situation.
The information was discussed by CBS News business analyst Jill Schlesinger.
This report highlights trends in the health and outlook of small businesses in the U.S.
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