More Americans are using credit cards to buy groceries, according to a study by the Urban Institute. This shows that some people may be struggling to pay for food with cash or debit cards.
Key Facts
The Urban Institute conducted research on grocery shopping habits.
The study found an increase in using credit to buy groceries.
Using credit means people borrow money from their credit card companies and pay it back later.
More people relying on credit for groceries might indicate financial difficulties.
Michelle Singletary, a financial expert, discussed reasons behind this trend.
The story was featured on CBS News and covered in The Washington Post.
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The biotech industry is developing advanced therapies like personalized cancer treatments and gene therapies, but many companies struggle to succeed commercially after getting regulatory approval. Industry experts say strong planning and teamwork are needed to turn scientific breakthroughs into profitable products.
Key Facts
New biotech treatments, such as Zi-MA4-1 cancer therapy and new gene/cell therapies, have been approved recently.
Developing a new medicine can cost more than $2 billion due to research and testing.
Regulatory approval does not guarantee a therapy will sell well or be widely used.
Companies must build market demand, educate doctors, and develop sales teams to succeed.
Investors now expect biotech firms to show solid business plans and growth after approval.
Commercial skills and infrastructure are becoming as important as scientific innovation.
Amy Vie, a pharmaceutical executive, says companies often fail because they do not effectively execute their plans.
Vie emphasizes building trust and teamwork within companies to improve performance and growth.
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The article explains that companies in financial trouble are not always worthless. Sometimes, their true value is hidden and can be revealed through careful planning and risk-taking during restructuring. A project at Texas A&M’s RELLIS Campus showed how a struggling data center asset was turned from a low-value property into a highly valuable one through this process.
Key Facts
Bankruptcy or financial distress does not always mean a company has no value.
Many see distressed companies as lost causes, but underlying assets can still be valuable.
The Texas A&M RELLIS Campus data center was initially seen as a limited asset with challenges.
Through restructuring, the asset’s value was increased from $120 million to an estimated $950 million.
Creditors were paid in full during the bankruptcy process, which is rare.
Unlocking hidden value needs a good strategy, financing, and a strong team.
Restructuring involves taking calculated risks even when capital is tight.
The author works as a chief restructuring officer helping turn distressed businesses around.
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The Federal Communications Commission (FCC) Chairman Brendan Carr defended the agency’s recent review of ABC’s broadcast licenses, saying broadcasters must serve the public interest in exchange for using public airwaves. ABC argues the FCC is targeting it unfairly because of political disagreements and claims this is an attack on free speech.
Key Facts
FCC Chairman Brendan Carr says broadcasters get valuable airwaves free but must operate in the public interest.
Carr hopes more broadcasters will meet their public interest obligations to maintain trusted news media.
ABC is fighting an early FCC review of eight local broadcast licenses before they expire.
ABC claims the FCC is singling them out due to political content disliked by President Donald Trump’s administration.
The license review signals a warning that media companies must follow the administration’s news coverage views or face consequences, ABC says.
The FCC also wants to apply equal-time rules to ABC’s show “The View,” which was exempted as news in 2002.
President Trump has publicly criticized ABC and called for firing TV host Jimmy Kimmel.
Carr mentioned ABC’s diversity, equity, and inclusion policies during the license review discussion.
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Artificial intelligence (AI) is making it easier for many investors to access and understand financial information quickly. However, some of the most valuable investment opportunities remain available only through private connections and trusted relationships, which technology cannot replace.
Key Facts
Private equity fundraising fell 24% in 2024, but investors still plan to increase their investments in private markets.
AI tools allow anyone with internet access to analyze earnings reports and economic research in seconds.
This technology narrows the information gap between big institutional investors and individual investors.
Many wealth-building deals happen in private settings, not on public stock exchanges.
Trust and personal relationships are needed to access many exclusive investment opportunities.
Companies are staying private longer, making private investments more important.
The most successful investors will be those who gain early access to opportunities, not just those who have the most information.
AI can help explain investment strategies but cannot build trust or arrange exclusive introductions.
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The Federal Reserve has paused interest rate increases for now, but mortgage rates remain high. Borrowers should avoid common mistakes like skipping mortgage rate locks, not shopping around for better rates, and ignoring wider economic trends to succeed in buying or refinancing homes.
Key Facts
The Federal Reserve paused its interest rate increases for the fifth time recently.
Mortgage rates are still higher than before, affecting homebuyers and those refinancing.
Locking in a mortgage rate now can protect borrowers from future rate rises.
Most lenders allow borrowers to change their locked rate if rates drop before closing.
Borrowers should compare mortgage rates from different lenders instead of sticking with familiar ones.
Shopping around can lead to rates that are 0.5% to 1% lower than average.
Mortgage rates can change due to economic factors like Treasury yields, inflation, unemployment, and global events.
Being informed and cautious helps borrowers handle the current tough borrowing environment.
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New York State has filed a lawsuit against Kalshi, an online betting platform, accusing it of running an illegal gambling operation. Kalshi argues that it is regulated by the federal government and therefore not bound by New York state gambling laws.
Key Facts
New York State is suing the online betting company Kalshi.
The lawsuit claims Kalshi operates an illegal gambling business in New York.
Kalshi is an online platform where people can place bets on future events.
Kalshi says it is regulated by federal authorities.
The company argues it does not have to follow New York state gambling laws because of federal oversight.
The case involves questions about whether federal rules or state laws control online betting activities.
The outcome could affect how online betting companies operate across different states.
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The U.S. workplace is changing faster than ever, with many companies facing frequent disruptions. Business leaders now focus on being adaptable and quick to respond to changes in the economy, regulations, and global events to stay successful.
Key Facts
By 2026, U.S. workplaces will face rapid changes that are more intense than in the past decade.
Many U.S. employees experience over a dozen major changes in a single year, causing fatigue and confusion.
About 70% of U.S. business leaders say speed and flexibility are their main advantages through 2029.
Almost all surveyed corporate growth leaders (97%) have changed their growth plans in the past year due to outside pressures.
Geopolitical issues like interest rate changes, trade policies, inflation, and supply chain problems greatly affect company strategies.
Leaders need to focus on resilience, clarity, and agility to handle constant change effectively.
Ryan Bueter, CEO of The Killer Dueling Pianos, uses lessons from live entertainment—like staying aware and flexible—to lead his company and apply similar ideas to business leadership.
Bueter’s company relies on audience interaction, showing how paying close attention to people’s needs can help organizations succeed in changing environments.
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A 2-year certificate of deposit (CD) opened in August with $10,000 can earn savers about $830 to $880 in interest by the time it matures. These CDs offer a fixed interest rate, protect the initial money, and are insured up to $250,000 by the FDIC, but the money cannot be withdrawn early without a penalty.
Key Facts
A 2-year CD requires locking in money for 24 months to earn interest.
Interest rates for 2-year CDs currently range from about 4.10% to 4.30%.
With $10,000 invested, expected interest earned ranges from $836.81 to $878.49.
Penalties apply if the money is withdrawn before the 2-year term ends.
Online banks usually offer higher CD rates due to lower costs than physical banks.
CDs are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per account.
This type of account can protect savings from market ups and downs during economic uncertainty.
The rates mentioned are typical now but can vary slightly depending on the bank chosen.
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Adam O’Neal, the Washington Post’s opinion editor hired last year, announced he will leave the paper by the end of August. His departure comes after a year of major changes in the opinion section, including a shift to focus on free markets and personal liberties under owner Jeff Bezos.
Key Facts
Adam O’Neal became opinion editor of the Washington Post about one year ago.
He announced his resignation without giving a specific reason, effective August 31.
The Washington Post’s opinion section changed direction last year to emphasize free markets and personal freedoms.
This new editorial direction was decided by owner Jeff Bezos and caused some subscriber dissatisfaction.
O’Neal led the section through changes to improve financial sustainability and increase accessibility.
A new video podcast launched by the opinion section received criticism and low viewership.
O’Neal’s predecessor, David Shipley, resigned after opposing the new editorial mandate.
Interim publisher Jeff D’Onofrio praised O’Neal’s leadership and said the paper will announce new opinion section leadership soon.
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A production company and a filmmaker from the United Kingdom are suing Netflix because they claim Netflix lost the "master copy" of a Nicolas Cage movie that has not been released yet. The master copy is the original version of the film from which copies are made.
Key Facts
The lawsuit involves a U.K.-based production company and a filmmaker.
They are suing Netflix over losing the master copy of a movie.
The movie stars Nicolas Cage.
The master copy is the original, main version of the film.
The movie has not been released yet.
Losing the master copy can cause major problems for finishing or showing the film.
The case was reported by CBS News.
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Apple has received billions of dollars back from tariffs that were later canceled by the U.S. Supreme Court. The company reported strong financial results but does not plan to lower prices for customers with the tariff refunds, instead choosing to reinvest the money in U.S. innovation and manufacturing.
Key Facts
Apple’s third-quarter net sales rose by $15 billion compared to last year, reaching $29.8 billion in net income.
Apple’s earnings per share increased by 29%, partly due to a $0.11 gain from tariff refunds.
The U.S. Supreme Court ruled many of President Donald Trump’s tariffs invalid, requiring refunds of roughly $166 billion collected from importers.
Over $100 billion in tariff refunds have been authorized by U.S. Customs, with about $80 billion paid out so far in 2024.
Apple paid about $3.3 billion in these tariffs and sought refunds through standard government processes instead of lawsuits.
Apple’s CEO Tim Cook stated that the tariff refunds would be reinvested into U.S. innovation and manufacturing as part of a $600 billion investment plan over four years.
Other companies like Costco, UPS, FedEx, and Walmart have said they may share some tariff refund money with customers.
Apple has not indicated any plans to reduce product prices as a result of the tariff refunds.
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The song "Rein Me In" by Sam Fender and Olivia Dean has set a new UK singles chart record by spending 19 non-consecutive weeks at number one. The song, originally by Fender alone, was re-released as a duet with a new verse and became very popular, winning song of the year at the Brit Awards.
Key Facts
"Rein Me In" spent 19 non-consecutive weeks at the top of the UK singles chart.
This breaks the previous UK chart record set in 1953 by Frankie Laine's "I Believe."
The song is from Sam Fender’s third album, "People Watching," which won the Mercury Prize.
Olivia Dean added a new verse from a female perspective for the duet version released in June 2025.
The song entered the charts in June 2025 and reached number one in February 2026.
It briefly lost the number one spot but returned and stayed long enough to break the record.
"Rein Me In" won song of the year at the Brit Awards, beating artists like Lewis Capaldi and Ed Sheeran.
The song deals with the difficulties after a relationship ends, told from both male and female points of view.
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Most companies plan to spend much more money on artificial intelligence (AI) in the next three years, but only 1% feel fully prepared to use AI widely. While many expect AI to improve productivity, leaders are now focusing on making AI investments truly valuable and ensuring organizations remain strong and adaptable.
Key Facts
92% of companies expect to increase AI spending significantly in the next three years.
Only 1% of organizations consider themselves mature in using AI at large scale.
Many companies worry that focusing too much on efficiency with AI might reduce their ability to adapt to changes.
A survey found that 71% of top executives think managing risks and planning for different future scenarios are vital for organizational strength.
Leadership, company structure, and employee adaptation are more important than technology alone for successful AI transformation.
Executives face pressure to show real benefits from AI investments, not just try new AI projects.
In the past, organizations focused on speed and efficiency, often cutting programs and people who helped absorb change.
Experts say resilience — the ability to handle disruption — must be built into organizations, not added later.
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A $2 million deal to publish Jerry Falade’s first crime novel was canceled after doubts arose about whether artificial intelligence (AI) helped write it. Falade and his agents withdrew the book due to concerns they could not confirm if AI was involved in the writing process.
Key Facts
Jerry Falade’s debut crime novel, Call Me, I’ll Hide the Body, was set for a $2 million publishing deal with Minotaur, part of Macmillan US.
The book was to be published in 2028 after a 14-way auction.
Falade’s agents said they can no longer verify if AI was used, despite initially trusting Falade’s claims it was not.
An editor raised concerns about AI use during the submissions process, but no AI-detection software was used then.
After Falade changed parts of his story at a meeting, the agent decided to end their relationship over trust issues.
Falade denies using AI and suggests the reaction shows racial bias, noting other Black authors have faced similar suspicions.
AI-detection tools can give false positives, and many industry professionals had approved the manuscript without raising concerns.
This case follows other recent publishing controversies over suspected AI use in manuscripts.
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A report shows the U.S. needs to invest $2.1 to $2.4 trillion in water infrastructure over the next 25 years. Experts say that besides building big water treatment plants, future systems should be more flexible and able to keep working during problems by using smaller, modular treatment units near water sources.
Key Facts
The U.S. faces a major need to upgrade drinking water infrastructure, costing over $2 trillion in 25 years.
Water main breaks happen about every 2 minutes in the U.S., showing aging pipes are a big issue.
Traditional water systems rely on large, centralized treatment plants serving wide areas.
New planning focuses on making water systems more resilient and flexible to handle disruptions.
Decentralized, modular treatment systems are gaining attention as a way to add capacity near water sources.
Modular systems can grow step-by-step as communities and water demand increase.
These smaller systems provide backup since if one fails, others keep working independently.
Companies like Air Water Solutions and HydroGenesis develop advanced modular water treatment technologies.
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This article explains how to tell if an air conditioning (HVAC) repair was done correctly. It warns that cheap repairs may seem good at first but can cause bigger problems later if they are rushed or incomplete. The article gives advice on signs to look for after a repair to avoid repeat visits and higher bills.
Key Facts
Many homes experience HVAC strain during heat waves, leading to more repair needs.
Low repair costs can be tempting but might mean poor or incomplete fixes.
A well-done repair should cool the home evenly without the system running non-stop.
The technician should clearly explain what was fixed and provide a detailed bill.
After repair, there should be no strange noises, smells, or visible issues like water leaks or ice.
Energy bills should not rise sharply if the repair was effective.
A good repair often comes with a warranty for protection against future problems.
Knowing what to watch for can save money by avoiding repeated repairs and early system replacement.
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Families of four teenagers who died by suicide have filed a lawsuit against Meta, Snapchat, TikTok, and YouTube. They claim that using these social media platforms caused mental health problems such as addiction, depression, and anxiety, which led to the teens' deaths.
Key Facts
The lawsuit was filed in Delaware on Thursday.
The families are from Minnesota, North Carolina, Tennessee, and Texas.
The teenagers who died were aged 13, 14, 17, and 18.
The teens experienced serious mental health issues like sleep problems, anxiety, and suicidal thoughts linked to social media use.
The Social Media Victims Law Center is representing the families.
The complaint says social media companies created addictive products harming young users.
Meta, Snapchat, TikTok, and YouTube's parent company Google have not yet responded to the lawsuit.
This lawsuit follows other legal cases where social media companies were found responsible for harming youth mental health.
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U.S. oil and gas companies earned large profits during spring as fighting between the U.S. and Iran slowed oil shipments. The conflict blocked much shipping through the Strait of Hormuz, raising fuel prices and causing shortages worldwide.
Key Facts
The fighting between the U.S. and Iran has lasted six months.
The Strait of Hormuz is a key shipping route for about 20% of the world’s oil and natural gas.
Most shipping through this waterway stopped because of the conflict.
Global oil supplies became limited due to these shipping disruptions.
Prices for Brent crude oil rose from about $70 to over $100 per barrel during March, April, and May.
At one point, Brent crude prices reached as high as $126 per barrel.
Higher oil prices caused fuel costs to increase for consumers globally.
U.S. oil and gas companies made large profits during this time.
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Netflix is being sued after an unencrypted drive with an unreleased Nicolas Cage movie called Fortitude was stolen from its offices. The movie’s financier claims Netflix did not protect the drive properly and caused potential financial losses, while Netflix denies responsibility and says the production company did not encrypt the drive as required.
Key Facts
Netflix admits a drive containing the unreleased movie Fortitude was stolen from its office desk.
The movie was financed by Simon Afram, who invested $45 million to produce it.
The drive was unencrypted, making its contents accessible to thieves.
Netflix waited a week before informing the production company about the theft.
The production company and Afram say Netflix failed to secure the drive and breached their contract.
Netflix denies liability and claims the production company did not follow security precautions by encrypting the drive.
Netflix says there is no evidence the movie has been leaked online.
The lawsuit demands over $112 million in damages and accuses Netflix of ignoring the issue.
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