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Business news, market updates, and economic developments

Capital One says it closed Trump Organization’s accounts after anti-money-laundering review

Capital One says it closed Trump Organization’s accounts after anti-money-laundering review

August 02, 2026 • Guardian World

Summary

Capital One says it closed more than 300 bank accounts linked to the Trump Organization in 2021 after a review by experts focused on preventing money laundering. The bank is asking a court to dismiss a lawsuit filed by the Trump Organization that claims the account closures were politically motivated.

Key Facts

  • Capital One closed Trump Organization accounts following a review by anti-money-laundering (AML) experts.
  • The bank never directly accused the Trump Organization of money laundering.
  • The closure decision was based on patterns flagged by federal banking rules.
  • The Trump Organization and Eric Trump sued Capital One in 2025, claiming the closures were due to political bias after the January 6, 2021 Capitol riot.
  • Capital One disputes these claims and says the lawsuit uses selected quotes out of context.
  • President Trump signed an order in August 2025 to stop banks from denying services for political reasons.
  • In January 2026, President Trump filed a similar lawsuit against JPMorgan Chase.
  • In 2019, President Trump sued Capital One and Deutsche Bank to stop them sharing financial records with Congress.
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Guardian World Guardian US
Growing like ‘gangbusters’: Can Taiwan maintain its economic momentum?

Growing like ‘gangbusters’: Can Taiwan maintain its economic momentum?

August 01, 2026 • Al Jazeera

Summary

Taiwan’s economy has grown rapidly because of high demand for its technology products, especially chips used in artificial intelligence (AI). The island’s stock market became the fifth largest in the world, and Taiwan has become a major source of imports for the United States. However, experts warn that challenges like political tension and population issues could affect Taiwan’s long-term growth.

Key Facts

  • Taiwan’s stock market is now the fifth largest globally by market value.
  • Taiwan’s GDP grew by 8.63% in 2025, then rose 13.69% in the first quarter of 2026, and 12.92% in the second quarter.
  • Taiwan supplies about 90% of advanced computer chips used for AI models.
  • The US imported $201 billion worth of goods from Taiwan last year, almost double the amount from 2024.
  • Taiwan is now the third-largest source of imports to the US, behind Mexico and Canada.
  • The Trump administration made a deal for Taiwan to invest $500 billion in the US tech industry, supporting chip manufacturing on American soil.
  • Under this deal, Taiwanese companies can import more products to the US with fewer tariffs, and Taiwan lowered tariffs on most US exports.
  • Some experts warn that political issues with China and Taiwan’s changing population might slow future economic progress.
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Al Jazeera
The Papers: Chancellor 'warns' supermarkets and 'own goal'

The Papers: Chancellor 'warns' supermarkets and 'own goal'

August 01, 2026 • BBC Top Stories

Summary

Chancellor John Healey warned supermarkets that the government will not allow them to raise prices unfairly as the Middle East crisis increases living costs. He said regulators have the power to stop “price-gouging” if it happens.

Key Facts

  • Chancellor John Healey spoke about the rising cost of living linked to the Middle East crisis.
  • He warned supermarkets not to take advantage of this situation by raising prices unfairly.
  • Healey promised to use regulators to stop any price-gouging practices.
  • The Prime Minister stated that helping families with the cost of living is a top priority.
  • There are concerns about a possible "tax on death" related to social care reforms, potentially costing families up to £76,000.
  • Other news includes political and social issues like Nigel Farage’s secret deal to return as a party leader and migration at the Spanish-Moroccan border.
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BBC Top Stories
Australia news live: aged-care nurses get pay rise; fuel excise cut due to end at midnight

Australia news live: aged-care nurses get pay rise; fuel excise cut due to end at midnight

August 01, 2026 • Guardian World

Summary

Aged-care nurses in Australia will receive their fifth wage increase this year, raising salaries by up to $36,000 annually for some registered nurses. At the same time, a temporary fuel tax cut is ending, which will likely cause petrol and diesel prices to rise from midnight.

Key Facts

  • Aged-care nurses get a fifth wage increase in 2024 as part of a Fair Work Commission decision.
  • Registered nurses in aged care will see pay rises of more than $36,000 per year at common pay levels.
  • Enrolled nurses in aged care will receive nearly $32,000 more per year at common pay points.
  • The wage increases aim to help attract and keep nurses in aged care to improve care quality.
  • Australia needs about 35,000 more aged-care workers this financial year due to an aging population.
  • The government’s temporary fuel tax cut of 16 cents per litre will end at midnight.
  • Fuel prices are expected to rise above $2 per litre for petrol and $2.40 for diesel.
  • The fuel excise was initially cut by 32 cents in March and then reduced to 16 cents in July as a cost-of-living relief measure.
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Guardian World
A new high for roller coasters

A new high for roller coasters

August 01, 2026 • CBS News

Summary

The amusement park industry is using new technology to build advanced roller coasters. Two examples are the New Texas Giant, which combines wood and steel, and the Tormenta Rampaging Run, a very tall "giga dive" coaster at Six Flags Over Texas.

Key Facts

  • The New Texas Giant is a roller coaster made from both wood and steel.
  • The Tormenta Rampaging Run is a "giga dive" coaster, meaning it has a very steep and tall drop.
  • Both coasters are located at Six Flags Over Texas amusement park.
  • These new designs show how technology is changing roller coaster building.
  • The industry is trying to attract visitors by creating exciting new rides.
  • This was reported by CBS News correspondent Lee Cowan.
  • The original broadcast date was April 12, 2026.
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CBS News
America’s retirement nightmare has arrived

America’s retirement nightmare has arrived

August 01, 2026 • The Hill

Summary

Many older Americans are finding it harder to retire due to economic problems and changes caused by artificial intelligence (AI). These factors are making it necessary for more people to keep working instead of stopping their jobs in old age.

Key Facts

  • Economic insecurity means people are worried about having enough money for the future.
  • Artificial intelligence is changing jobs and work patterns.
  • These changes affect retirement plans for many older adults.
  • Fewer people can afford to stop working at the usual retirement age.
  • Some older adults may have to work their whole lives to support themselves.
  • The traditional idea of a peaceful retirement is becoming less common.
  • AI may replace some jobs but also create new challenges for workers.
  • This situation impacts not just individuals but the overall economy.
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The Hill
Will Canada's WestJet airline strike go ahead - and can I get a refund?

Will Canada's WestJet airline strike go ahead - and can I get a refund?

August 01, 2026 • BBC US

Summary

Flight attendants at WestJet, Canada’s second-largest airline, may begin a strike on Sunday over pay disputes, specifically about compensation for work done before takeoff. WestJet is canceling some flights early and offering free changes or refunds to passengers while still negotiating with the union.

Key Facts

  • WestJet flight attendants might strike starting Sunday morning during a busy holiday weekend.
  • The main issue is pay for work done on the ground before the plane takes off, called "ground pay."
  • The union announced a 72-hour strike notice that ends Sunday at 02:01 EST.
  • WestJet has canceled 81 flights on Saturday to avoid stranding passengers.
  • Passengers can change or cancel flights between Thursday and Tuesday without extra fees.
  • If flights are canceled or delayed due to the strike, passengers will be refunded or rebooked.
  • The union representing flight attendants is CUPE 8125.
  • Flight attendants say they perform up to 35 unpaid hours monthly for pre-takeoff duties; WestJet says its pay model includes compensation for that work.
  • WestJet pays cabin crew between C$28 and C$58 per hour based on a block hours system starting when a plane leaves the gate until it arrives at the next gate.
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BBC US
Care for a dirty soda? How this drink trend became a US obsession

Care for a dirty soda? How this drink trend became a US obsession

August 01, 2026 • Al Jazeera

Summary

Dirty soda is a drink made by mixing fountain soda with syrups, cream, fruit purees, and citrus. It started as a small trend in parts of the U.S. and has grown nationally, helped by social media and young people wanting affordable, fun drinks. Nicole Tanner from Utah started the drive-through drink business Swig in 2010 to offer customizable soda drinks with quick service.

Key Facts

  • Dirty soda mixes regular fountain soda with flavors like syrups, cream, and fruit purees.
  • The trend grew from a regional curiosity to a national phenomenon in the U.S.
  • Social media and young consumers seeking cheap social treats helped its popularity.
  • Nicole Tanner opened Swig, a drive-through soda shop, in St George, Utah, in 2010.
  • Tanner wanted to improve on long wait times at places like Sonic and offer great service.
  • Swig modeled itself after Starbucks by focusing on customizable drink options.
  • Drinks were priced at $1 initially to attract customers, leading to long lines within the first year.
  • Tanner started the business to support her family after moving to Utah and during tough economic times.
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Al Jazeera
FTC fines ticket reselling company Elite Events and Tickets

FTC fines ticket reselling company Elite Events and Tickets

August 01, 2026 • CBS News

Summary

The Federal Trade Commission (FTC) fined the ticket reselling company Elite Events and Tickets for breaking the Better Online Ticket Sales Act. The company has not admitted or denied the FTC’s claims.

Key Facts

  • The FTC fined Elite Events and Tickets for violating a law about selling tickets online.
  • The law involved is called the Better Online Ticket Sales Act.
  • The company did not admit guilt or deny the charges made by the FTC.
  • CBS News reported on this story after interviewing the company last year.
  • The fine is related to the company’s ticket-selling methods and practices.
  • The case shows the government’s effort to regulate ticket reselling businesses.
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CBS News
Fast access to Trump's ‘Truth Social’ posts goes on sale for $100,000 per month

Fast access to Trump's ‘Truth Social’ posts goes on sale for $100,000 per month

August 01, 2026 • France24

Summary

President Donald Trump’s social media platform, Truth Social, is selling a service called Truth API that gives Wall Street traders fast access to his posts for $100,000 a month. These posts often include important announcements about economic policy and global issues that can quickly affect financial markets.

Key Facts

  • Truth Social started offering the Truth API service on a Saturday.
  • The service costs $100,000 per month for fast access to President Trump’s posts.
  • President Trump’s posts frequently affect the prices of stocks, bonds, currencies, and commodities.
  • Traders using Truth API can react faster to news, potentially making large profits.
  • Ethics experts are concerned this service mixes public office with private financial gain.
  • Other social media companies also sell fast news feeds, but Truth Social’s posts create original market-moving news.
  • President Trump’s office did not comment on the ethics or legal review of the service.
  • Trump Media & Technology, the parent company of Truth Social, defends the service against criticism from Democrats.
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France24
Flour + Water redefines traditional Italian cooking in its San Francisco restaurants

Flour + Water redefines traditional Italian cooking in its San Francisco restaurants

August 01, 2026 • CBS News

Summary

Flour + Water is a restaurant group in San Francisco led by chefs Thomas McNaughton and Ryan Pollnow. They change traditional Italian cooking by creating new and creative dishes.

Key Facts

  • Flour + Water is a restaurant group based in San Francisco.
  • The chefs leading it are Thomas McNaughton and Ryan Pollnow.
  • Both chefs have been nominated for James Beard Awards, which honor great cooks.
  • They focus on Italian cooking but offer new, different takes on traditional dishes.
  • The restaurant group aims to provide fresh and creative Italian food experiences.
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CBS News
Kanpai! Sake sommelier explains the delight of this Japanese rice wine

Kanpai! Sake sommelier explains the delight of this Japanese rice wine

August 01, 2026 • CBS News

Summary

Sake, a Japanese rice wine, is becoming more popular in the United States. Daniel Bennett, a sake expert at a restaurant in Chicago, talks about why people enjoy this drink.

Key Facts

  • Sake is a traditional Japanese alcoholic drink made from rice.
  • Its popularity is increasing in the U.S. market.
  • Daniel Bennett is a sake sommelier, which means he is an expert in sake.
  • Bennett works at the Omakase Room, a restaurant in Chicago.
  • He explains what makes sake enjoyable to drink.
  • The article was shown on CBS News and can be accessed via their app or online.
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CBS News
Kevin Warsh’s mission: reviving the era of monetary restraint

Kevin Warsh’s mission: reviving the era of monetary restraint

August 01, 2026 • The Hill

Summary

Kevin Warsh aims to bring back a time when the Federal Reserve was more careful with money policies. It is uncertain if he will continue to keep this promise.

Key Facts

  • Kevin Warsh is focused on increasing monetary restraint.
  • Monetary restraint means being careful about printing money and raising interest rates.
  • He wants to move away from recent policies that have been less strict.
  • Warsh's approach could affect inflation and the economy.
  • It is unclear if Warsh will fully follow through with his plan.
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The Hill
Exclusive discounts from CBS Mornings Deals

Exclusive discounts from CBS Mornings Deals

August 01, 2026 • CBS News

Summary

CBS Mornings Deals offers special discounts on products designed to improve daily life. Customers can visit cbsdeals.com to find and purchase these discounted items.

Key Facts

  • CBS Mornings Deals features products with exclusive discounts.
  • The deals focus on items that can help improve everyday lifestyle.
  • Shoppers can visit cbsdeals.com to access these offers.
  • CBS earns a commission from purchases made through the website.
  • The deals are promoted during CBS News programming.
  • The promotion encourages viewers to use popular web browsers like Chrome and Safari.
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CBS News
America In Focus: US economy expands at sluggish pace, mortgage rate hit the highest level in a year

America In Focus: US economy expands at sluggish pace, mortgage rate hit the highest level in a year

August 01, 2026 • AP News

Summary

The U.S. economy grew slowly at a 1.5% rate in the second quarter of 2026, with consumer spending increasing but overall growth below expectations. Meanwhile, mortgage rates for 30-year loans reached their highest point in a year, making home loans more expensive for buyers.

Key Facts

  • The U.S. economy grew 1.5% from April to June 2026, slowing down from 2.1% in the previous quarter.
  • Consumer spending, which makes up about 70% of economic activity, rose by 3.2% in the second quarter.
  • Business investment, excluding housing, grew 8.4%, driven partly by increased spending on artificial intelligence.
  • The average 30-year fixed mortgage rate increased to 6.66%, the highest in a year.
  • The 15-year fixed mortgage rate also rose to 6.04%.
  • Inflation remains above the Federal Reserve’s 2% target, though growth in inflation slowed last month.
  • Gas prices rose again to about $4.11 per gallon after earlier declines.
  • Consumer confidence stayed low in July, partly due to rising gas prices and conflict in the Middle East.
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AP News
How Home Sellers Spy on Buyers: ‘Consider Yourself in a Reality Show’

How Home Sellers Spy on Buyers: ‘Consider Yourself in a Reality Show’

August 01, 2026 • Newsweek

Summary

Some home sellers use hidden cameras and recording devices to watch and listen to potential buyers during property tours. This surveillance helps sellers protect their homes and learn buyers’ reactions, but many buyers feel uncomfortable and change how they behave during showings.

Key Facts

  • A survey of 2,000 consumers found 56% of home sellers used hidden cameras during buyer tours.
  • 72% of buyers believe they have been watched while seeing homes.
  • Sellers use cameras mainly for protection (61%) and to observe buyers’ likes and dislikes (19%).
  • Buyers often avoid discussing budgets or offers inside the home due to fear of being recorded.
  • About 64% of recent buyers worry sellers watch or listen during tours.
  • Nearly 1 in 5 buyers have left a showing because they felt watched.
  • Some buyers say recording equipment would make them less likely to make an offer.
  • The legality of recording buyers depends on state laws and varies by location.
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Newsweek
New York City’s Flatiron building enters new era with $58.5m apartments

New York City’s Flatiron building enters new era with $58.5m apartments

August 01, 2026 • Guardian US

Summary

New York City’s Flatiron Building, completed in 1902, has been transformed from commercial space into a luxury residential building with apartments costing up to $58.5 million. The building features 36 apartments, including large full-floor units, and shared amenities like a pool and games room.

Key Facts

  • The Flatiron Building is a triangular skyscraper in New York City, known for its unique shape resembling a clothes iron.
  • It was completed in 1902 and was originally used mainly as office space.
  • The building was recently renovated, with its exterior restored by hand to preserve original architectural details.
  • It now offers 36 luxury apartments, some spanning entire floors.
  • Apartments are priced from around $11 million to $58.5 million for the largest unit.
  • Shared amenities include a double-height lobby, pool, and games room with a billiards table.
  • Interior design by a prominent New York firm features exposed steel framing and high-end materials like marble and brushed steel.
  • The building’s owners noted strong interest from wealthy buyers due to its location near good transport, dining, and parks.
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Guardian US
Purple reign: how shade became British gardeners’ favourite

Purple reign: how shade became British gardeners’ favourite

August 01, 2026 • Guardian World

Summary

Purple flowers have become the most popular color choice in British gardens this summer, according to research by the Royal Horticultural Society (RHS). The trend shows a shift from recent garden styles focused on neutral colors to brighter, natural-looking plantings that attract pollinators and promote relaxation.

Key Facts

  • Purple was the most preferred flower color among over 11,000 visitors in an RHS study, making up 26.67% of choices.
  • Red was the second most popular flower color, chosen by 25.24% of participants.
  • Popular purple plants include lavender, salvias, catmint, alliums, and geraniums.
  • Garden designers report growing demand for bright purple flowers and naturalistic planting instead of neutral tones like greys.
  • Purple plants attract pollinators such as bees and butterflies, supporting garden ecosystems.
  • Purple is linked to calming feelings, while colors like yellow and orange are associated with joy, based on psychological research.
  • The study “Flower Power” published in Acta Psychologica explores how favorite flower colors affect human emotions and wellbeing.
  • Garden design incorporating color can improve wellbeing, useful for places such as schools and hospitals.
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Guardian World
After noise complaints, judge orders Waymo to stop overnight charging in Santa Monica

After noise complaints, judge orders Waymo to stop overnight charging in Santa Monica

August 01, 2026 • Ars Technica

Summary

A judge in Santa Monica, California, has ordered Waymo to stop charging its autonomous vehicles overnight at certain city locations. This decision follows complaints from neighbors and the city about noise, light, and traffic problems caused by the charging stations.

Key Facts

  • Judge Bradley S. Phillips ruled Waymo cannot use its charging lots on Broadway at 12th and Euclid Streets between 11 pm and 6 am.
  • The City of Santa Monica filed a public nuisance lawsuit against Waymo over noise, light pollution, and traffic issues from the charging stations.
  • Neighbors complained about constant beeping noises and vehicle movements disturbing their peace day and night.
  • The charging stations are near a private school, apartments, and homes.
  • Waymo started using these charging lots in January 2025.
  • Santa Monica sued Waymo in November 2025, and Waymo has also filed a counter-suit.
  • Residents reported noticeable improvements in quietness after the overnight charging was stopped.
  • The next court hearing is set for October 2026.
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Ars Technica
Trump stands to profit off US policy announcements by selling fast access to his social media posts

Trump stands to profit off US policy announcements by selling fast access to his social media posts

August 01, 2026 • AP News

Summary

President Donald Trump’s company, Truth Social, is selling fast access to his social media posts to Wall Street traders. This service, called Truth API, could help traders make profits by getting early information on Trump’s policy announcements, but it also raises concerns about fairness and insider trading.

Key Facts

  • Truth Social will offer a paid service starting Saturday for quick access to President Trump’s posts.
  • This service targets high frequency traders who trade stocks and currencies very quickly.
  • Trump’s posts often include policy news on issues like tariffs, war, and central bank decisions.
  • Early access to these posts could allow traders to make big profits by acting before others.
  • Some experts warn this could be unethical or illegal if used to trade on insider information.
  • Trump Media & Technology, the parent company, defends the service as a free market product.
  • The service uses direct internet connections for faster delivery than typical news feeds.
  • Artificial intelligence technology helps traders understand the market impact of Trump’s posts.
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AP News