Alan Greenspan, who led the US Federal Reserve from 1987 to 2006, died at age 100. He was praised for managing the economy through crises and a long boom but was later criticized for policies linked to the 2008 financial crash.
Key Facts
Greenspan chaired the US Federal Reserve for nearly 20 years, serving under four presidents.
He helped prevent economic disasters after the 1987 stock market crash and the 1997 Asian financial crisis.
His leadership saw one of the longest US economic booms from 1991 to 2001.
Greenspan's approach favored less government control of banks, trusting them to police themselves.
This approach was later blamed for contributing to the 2008 financial crash.
He admitted in 2008 that his belief in self-regulation by banks was flawed.
Greenspan was influenced by philosopher Ayn Rand and her ideas about capitalism and limited government.
A 2010 congressional report found that his policies helped remove important financial protections, leading to economic risks.
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ABC is asking the public to support the network as it faces two investigations by the Federal Communications Commission (FCC). One investigation looks at a rule for the daytime talk show The View, and the other questions whether ABC can renew licenses for its eight local TV stations.
Key Facts
The FCC is investigating whether The View broke a rule about giving equal time to political candidates.
The FCC is also reviewing ABC’s request to renew licenses for eight local TV stations.
Public comments on The View investigation are open until June 22.
Petitions against ABC’s license renewals can be submitted until June 29.
ABC will air ads urging viewers to support the network during The View and in local markets like New York and Los Angeles.
The ads highlight The View’s history and ABC’s service to local communities.
Some ABC licenses are not set to expire until 2031.
Critics say the FCC’s open investigations may be targeting ABC because it has been criticized by President Donald Trump.
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Clive Davis, a well-known music industry leader who helped launch the careers of stars like Whitney Houston and Bruce Springsteen, has died at age 94. He was the chief creative officer at Sony Music and previously led major record labels including Columbia and Arista.
Key Facts
Clive Davis died at the age of 94 after recently being hospitalized with breathing problems.
He was diagnosed with Bell’s palsy, a nerve disorder, in 2021.
Davis signed famous musicians such as Bruce Springsteen, Janis Joplin, Santana, Whitney Houston, Billy Joel, and Aerosmith.
He worked as president of Columbia Records and later led Arista, J Records, RCA Group, and BMG North America.
Davis was chief creative officer at Sony Music from 2018 until his death.
He grew up in Brooklyn, graduated from New York University and Harvard Law School.
He began his music career as a lawyer for Columbia Records and quickly rose to leadership by signing influential rock and pop artists.
Davis credited his strong work ethic to challenges he faced after losing his parents at a young age.
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A woman claims her dog was injured during grooming, including a cut nipple that was repaired with superglue. The dog owner took the pet to an emergency vet, which cost her £385, and has reported the grooming business to local authorities.
Key Facts
The dog is a two-year-old toy poodle and bichon frisé mix named Honey.
The grooming took place at Scruffy 2 Fluffy in Bargoed, Caerphilly county.
The owner noticed injuries, including blood in Honey’s eye, a cut on her leg, and a hard, sensitive nipple.
An emergency vet visit revealed the nipple had been cut and superglued back together.
The grooming owner described the injury as an accident and said he acted immediately.
The vet fees were reimbursed, but no apology or full explanation was given to the dog owner.
The owner reported the grooming business to Trading Standards, which is investigating.
Honey’s owner said the dog remains nervous and shaken by the incident.
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Lucid Motors is laying off about 1,500 workers, which is 18% of its staff, as part of efforts to reduce costs and become profitable. This follows earlier layoffs in February and includes ending the second work shift at its factory in Arizona.
Key Facts
Lucid Motors is cutting 1,500 jobs, or 18% of its workforce.
Earlier in the year, the company also laid off 12% of its employees.
The layoffs aim to help Lucid become profitable and improve cash flow.
Lucid is ending the second work shift at its factory in Casa Grande, Arizona.
These changes are expected to save the company $158 million after costs.
The company will pay $32 million for severance and employee benefits.
Marc Winterhoff, the chief operating officer who became acting CEO in February, will leave the company.
Lucid has a new CEO, Silvio Napoli, and is removing the COO role.
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Oil prices fell on Monday after Vice President JD Vance shared news about progress in talks between the U.S. and Iran. This progress suggests a possible deal that could affect the global oil market.
Key Facts
Oil prices dropped on Monday.
Vice President JD Vance reported progress in U.S.-Iran negotiations.
The talks are moving toward a potential agreement.
Changes in relations between the U.S. and Iran can influence oil supply and prices.
The news was reported by CBS News and Business Insider.
Oil markets respond to political developments that affect oil production and trade.
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Alan Greenspan, who led the Federal Reserve for 18 years and advised four U.S. presidents, died at age 100 on June 22, 2026. In a 2013 interview, he discussed how trust is essential to the U.S. economy and how fear and irrational behavior affect financial markets.
Key Facts
Alan Greenspan was chair of the Federal Reserve for 18 years.
He worked with four U.S. presidents during his tenure.
Greenspan died on June 22, 2026, at the age of 100.
In 2013, he spoke about managing the American economy before the 2008 financial crisis.
He emphasized that the economy relies heavily on trust to function.
Greenspan explained that when trust breaks down, the economic system can collapse.
He discussed how human emotions, like fear, impact market predictions.
Greenspan’s wife, Andrea Mitchell, mentioned his strong interest in writing.
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Aldi started a four-day giveaway of "Blind Boxes," which are mystery boxes of groceries that shoppers can get for free by signing up online. This promotion aims to help shoppers deal with rising food prices by offering value and surprise in their purchases.
Key Facts
Aldi’s Blind Boxes giveaway runs from June 22 to June 25.
Each day at noon Eastern time, a new mystery box is available on Aldi’s website on a first-come, first-served basis.
The boxes contain various Aldi grocery items and come in four themes: Snack, Fiber, Protein, and Mystery (a mixed selection).
The promotion targets customers looking to save money amid rising grocery prices.
Food prices in the U.S. have increased by about 2.7% for groceries in May compared to last year.
Many consumers are buying less food, switching to cheaper brands, or shopping at discount stores due to these price increases.
The "blind box" concept is popular in other products and adds a surprise element to grocery shopping.
Other companies and stores, like Too Good to Go, Whole Foods, and Kroger, have tried similar mystery or surplus food bundles to offer savings and reduce waste.
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Gold and silver prices have both fallen recently after strong gains last year. Experts say silver is more unpredictable but could offer higher long-term returns, while gold has steadier growth and may better protect against inflation.
Key Facts
Gold prices dropped due to high interest rates, rising oil, and changing Federal Reserve policies.
Silver prices fell about 15% since mid-May and are more volatile than gold.
Silver’s price changes are bigger and happen more often than gold’s prices.
Over the last five years, silver gained about 156%, while gold gained about 121%.
Investors who want quick wins might find silver too risky because of its price swings.
Silver is important in industries like AI, which could increase demand long-term.
Experts recommend holding precious metals for a longer time to get better returns.
Gold tends to be a better choice if the main goal is protection from inflation.
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Investors are uncertain about the future of their investments because many people are criticizing the new Iran deal. It is not clear if the deal will help or hurt economic confidence.
Key Facts
A deal involving Iran has been made recently.
Many people are criticizing this Iran deal.
The criticism might affect investor confidence.
Investors are currently unsure if they should stay positive.
The impact of the deal on investments is still unclear.
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Many people in the U.S. are using AI tools like ChatGPT to help set prices for selling their homes. Experts warn this can cause problems because AI models don’t fully understand local market details or the complex negotiation process, which can lead to wrong pricing and lost money.
Key Facts
Buyers and sellers are using ChatGPT to estimate home values.
AI tools give quick answers but may offer flawed pricing advice.
A $50 million deal almost failed because AI gave conflicting price opinions to buyer and seller.
AI models base answers on text patterns, not real-time property details or human factors.
AI tends to give answers that please users rather than accurate market prices.
A Florida homeowner who used ChatGPT missed out on getting more money through bidding wars.
Experts say AI cannot replace local knowledge and the skill of real estate agents.
Important factors like renovations, local trends, and buyer motivations are often missed by AI.
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The article provides advice on how to save money by lowering bills and subscription costs as we reach the middle of 2026. It features financial tips from CBS News analyst Jill Schlesinger, including ways to reduce expenses like streaming services and improve savings.
Key Facts
The article offers strategies to cut monthly bills.
It suggests reviewing and canceling unnecessary subscription services.
Tips include managing streaming service costs.
Increasing savings account contributions is recommended.
The advice aims to help people save more money in 2026.
Financial expert Jill Schlesinger shares these tips on CBS Mornings.
The focus is on practical, easy ways to reduce everyday expenses.
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Many big stores are offering large discounts this week, including Amazon during its Prime Day event. Kelly O’Grady explains how to find the best deals this summer.
Key Facts
Big retailers are having sales with big discounts this week.
Amazon is holding its Prime Day event, a special sales event for Prime members.
Prime Day offers lower prices on many products.
Other stores also have summer sales at the same time.
Kelly O’Grady provides tips on how to find these summer deals.
The sales are aimed at helping shoppers save money.
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China has added 10 US companies to its export control list, stopping the export of certain goods that can be used for both civilian and military purposes to these companies. China also banned its government from buying products from nearly 50 US firms in response to the US Pentagon blacklisting about 80 Chinese companies for their links to the Chinese military.
Key Facts
China added 10 US companies, including rare-earth mining and defense firms, to its export control list.
Chinese companies are barred from exporting "dual-use" items to these US firms; dual-use means goods that can be used for both civilian and military purposes.
China also banned government procurement from 46 US companies, including major defense contractors like Lockheed Martin and Boeing.
US companies funded locally in China were exempt from this government procurement ban.
The US Pentagon blacklisted about 80 Chinese companies linked to the Chinese military earlier in June 2024.
The US list includes big Chinese firms like Alibaba, Baidu, and BYD, but the US did not ban doing business with them.
Experts see China’s move as a retaliation for US restrictions, possibly signaling a new phase in the ongoing US-China trade tensions.
Some affected companies have already moved part of their supply chains out of China to reduce risks.
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Johnny Marr, guitarist for The Smiths, will auction around 80 guitars and related music equipment in London on 17 September, in partnership with Christie’s. The collection includes famous instruments used on well-known songs and some items will raise funds for charity.
Key Facts
The auction features about 80 guitars, amps, and other equipment from Johnny Marr’s collection.
A 1982 Rickenbacker 330 Jetglo guitar, used on songs like "This Charming Man," could sell for up to £80,000.
A 1971 Martin D-28 acoustic guitar, heard on "There Is a Light That Never Goes Out," is estimated at £30,000 to £50,000.
The highest valued item is a 1960 Cherry Red Gibson ES-355, estimated at £150,000, bought for Marr by Seymour Stein.
Other notable guitars include a Telecaster-style by Roger Giffin (£30,000 estimate) and a 1984 Gibson Les Paul Standard used in multiple bands’ recordings.
Some guitars were lent to Noel Gallagher early in his career, including the Rickenbacker.
Proceeds from 10 items will be donated to Guide Dogs for the Blind Association and the National Autistic Society.
Marr’s new solo album, The Age of Everything, will be released on 2 October.
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Internet service costs in American homes are going down, even though many other everyday expenses like housing, food, and healthcare remain expensive. Having affordable broadband internet is important because fast internet is a key part of daily life today.
Key Facts
Many U.S. households still struggle with the high cost of housing, food, and healthcare.
The price of internet service is decreasing for American families.
Broadband internet means high-speed internet access.
Fast internet is important because much of life now depends on it.
Lower internet costs help ease overall household expenses.
Affordable internet supports work, education, and communication.
This trend offers some financial relief during tough economic times.
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A £12 million National Lottery jackpot ticket from the 6 June draw in Rhondda Cynon Taf, south Wales, has not yet been claimed. The ticket-holder has until 3 December to claim the prize before the money is used for National Lottery-funded projects.
Key Facts
The winning Lotto numbers were 08, 10, 26, 30, 35, and 42.
The winning ticket was bought in Rhondda Cynon Taf, south Wales.
The prize of £12 million remains unclaimed as of now.
Lottery winners have 180 days to claim their prizes.
If not claimed, the money goes to projects supported by the National Lottery.
Past large Welsh lottery wins include a £12.8 million prize in 2005 and a £45.5 million jackpot in 2009.
The biggest UK lottery prize so far is £195 million, won in 2022.
The National Lottery encourages the winner to check their tickets and claim the prize.
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Small-business owners in the US are feeling less confident due to rising fuel prices, inflation, and higher costs. Many are struggling to fill job openings, manage expenses, and keep customers as prices increase and the economy stays uncertain.
Key Facts
The Small Business Optimism Index dropped to 95.3 in May, showing less confidence among small-business owners.
Nearly 30% of small businesses have open jobs they cannot fill, the worst since the COVID-19 pandemic.
Labor quality and labor costs are the top challenges for many owners, reported by about 13-14% of them.
Rising fuel and supply costs are making it harder for businesses like Barry’s Blind Factory to maintain sales and profits.
Some businesses, like a pet sitting service in Alaska, have raised prices but still face difficulties due to high gas prices linked to conflicts in the Middle East.
A bed-and-breakfast owner in Tennessee is carefully managing costs but may have to increase prices if expenses keep rising.
A plumber in California reports most work is now emergency repairs rather than profitable remodels, affecting income.
Small-business owners are exploring new strategies and becoming more selective about what products and services they offer to stay profitable.
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Alan Greenspan, who led the U.S. Federal Reserve for five terms, died at 100 years old due to complications from Parkinson’s disease. His wife, journalist Andrea Mitchell, shared the news.
Key Facts
Alan Greenspan was the chair of the Federal Reserve for five terms.
He died on Monday at the age of 100.
The cause of death was complications from Parkinson’s disease.
Greenspan’s wife is Andrea Mitchell, a longtime NBC News journalist.
Greenspan played a major role in shaping U.S. economic policies during his leadership.
The Federal Reserve is the central bank of the United States, controlling monetary policy.
Greenspan was known as an influential figure in American finance.
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South East Water has named John Halsall as its new chief executive after the previous CEO, David Hinton, resigned. Halsall plans to focus on fixing immediate water supply problems and leading a £2.1 billion investment program to improve the company’s reliability.
Key Facts
John Halsall will become South East Water’s new chief executive, pending regulatory approval.
Halsall has worked before for Thames Water, South West Water, and Network Rail.
David Hinton, the former CEO, resigned in May and will leave after a handover.
South East Water has faced criticism for repeated water shortages in Kent and Sussex.
Regulator Ofwat proposed a £22 million fine for the company due to supply issues affecting 286,000 people from 2020 to 2023.
Halsall aims to deliver South East Water’s largest-ever investment program of £2.1 billion to improve water service.
The company reported £1.3 billion in debt and raised prices by an average of 7% in April, making the average yearly bill £324.
Halsall said he wants to rebuild trust with customers, partners, regulators, and staff while improving the business.
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