The UK government will expand funding to help remove dangerous cladding from more buildings. Previously, only buildings 59ft (18m) or taller could get support, but now buildings under 36ft (11m) will also qualify. The goal is to fix safety risks without making residents pay.
Key Facts
Funding for cladding removal was limited to buildings 59ft or higher but will now include buildings under 36ft.
The change is part of the Remediation Acceleration Plan, launched in December 2024.
The Grenfell Tower fire in 2017, which killed 72 people, was worsened by unsafe cladding.
Applications for the new funding will open in August, but the government has not said how much money is available.
By 2029, all buildings 36ft or taller with unsafe cladding must be fixed or face penalties for landlords.
So far, 2,331 buildings have started or finished cladding removal work, with 4,411 identified as having unsafe cladding.
Officials want to make sure funding goes to buildings that pose the highest risk to residents, not just based on height.
The government aims to avoid unfair costs for leaseholders, who are people renting or owning flats in these buildings.
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The Ravinia Festival’s Hunter Pavilion near Chicago reopened after a $70 million renovation that improved comfort and sound quality. The pavilion, home to the Chicago Symphony Orchestra’s summer season, now has wider seats, better acoustics, and new cooling features.
Key Facts
The Hunter Pavilion in Highland Park, Illinois, underwent a $70 million renovation.
The pavilion reopened in July 2026, ahead of the summer concert season.
Its seating capacity decreased from 3,350 to 2,840 due to wider, accessible seats.
Renovations included improved sound design to make music clearer and softer for musicians.
New LED lights and nine ventilation fans were added to lower stage temperatures.
The pavilion originally opened in 1905, with a major rebuild in 1950 after a fire.
The Chicago Symphony Orchestra uses the pavilion as its summer home.
Over 335,000 tickets were sold for the 2025 season, with 94 programs planned for summer 2026.
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Oil prices have been going up and down due to renewed tensions between the United States and Iran. This conflict is causing uncertainty in the oil market.
Key Facts
The conflict between the U.S. and Iran has recently intensified.
Oil prices are fluctuating because of these rising tensions.
Changes in oil prices can affect the global economy.
Analysts are closely watching the situation for further developments.
Political conflicts often impact energy markets like oil.
The article is based on coverage by CBS News business analyst Jill Schlesinger.
The instability in oil prices is a direct response to international political events.
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A former top economist at mining company BHP says stronger government climate policies are needed to push miners to reduce their emissions faster. He supports using a carbon price to encourage big resource companies to make tougher decisions on cutting pollution.
Key Facts
BHP delayed or canceled major projects that would have significantly reduced emissions.
Internal documents showed BHP planned to delay switching diesel trucks and trains to electric power until decades later.
Experts warn this slowdown risks Australia’s climate goals and exposes problems with the safeguard mechanism climate policy.
Dr. Huw McKay, ex-BHP chief economist, calls for stronger government climate rules rather than voluntary company targets.
He supports a carbon pricing policy that makes companies include climate costs in their investment decisions.
BHP aims to reduce emissions by 30% from 2020 levels by 2030 and has made some progress using renewable energy deals.
The Australian government’s "safeguard mechanism" requires large polluting sites to reduce emissions intensity yearly or buy carbon offsets.
Climate Change Minister Chris Bowen defends the current safeguard framework and says there will be no carbon tax.
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President Donald Trump has proposed new tariffs with a different reason but aims for the same result. These tariffs mainly affect American households and companies by making goods more expensive.
Key Facts
President Trump introduced a new tariff plan recently.
The reasons behind the tariffs have changed from previous proposals.
Despite the new rationale, the tariffs still increase costs on many goods.
U.S. consumers (households) pay more because of these tariffs.
American businesses also face higher expenses due to the tariffs.
Tariffs act as taxes on imported goods.
The burdens of tariffs usually fall on people and firms inside the U.S.
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After a divorce, who must pay credit card debt depends on factors like whose name is on the card, when the debt was made, and where the couple lives. Even if a divorce agreement says one person should pay, credit card companies can still ask either person on a joint account to pay if the debt is unpaid.
Key Facts
If a credit card is in only one spouse's name, that spouse usually has to pay the debt after divorce.
In community property states, debts made during marriage are often shared, no matter whose name is on the account.
Both spouses are legally responsible for joint credit card debts, regardless of divorce agreements.
Authorized users on an account are not legally required to pay the debt but should be removed during divorce to avoid problems.
Courts may separate debts made during marriage from debts made after separation.
Creditors are not bound by divorce orders and can pursue either party for payment.
If one spouse stops paying, the other can face credit damage and fees.
Paying off shared credit card debt before finalizing divorce can prevent future issues.
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Sales of previously owned homes in the U.S. fell in June but home prices reached a record high. The median home price rose to $440,600, making it harder for buyers to afford homes despite some lower mortgage rates compared to last year.
Key Facts
Existing home sales dropped 2.4% in June to a yearly rate of 4.09 million homes.
Sales were 2.8% higher than in June last year but below economists’ predictions.
The typical annual sales pace is about 5.2 million, higher than the current 4-million level.
Mortgage rates rose since the U.S.-Iran conflict began, contributing to slower sales.
The median home price in the U.S. hit $440,600 in June, the highest since records began in 1999.
Home prices have increased for 36 months in a row.
The housing market has been weak since 2022 due to rising mortgage rates.
Sales in the first half of this year only slightly increased from last year by 0.7%.
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CBS Mornings is offering special discounts on everyday products through their deals website. Customers can visit cbsdeals.com to buy items at lower prices, and CBS earns a commission from these sales.
Key Facts
CBS Mornings features exclusive discount deals for viewers.
The deals are designed to improve everyday life with various products.
Customers can access these offers at the website cbsdeals.com.
CBS News earns commission from purchases made through this site.
The promotion is part of CBS Mornings programming.
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A federal judge approved a $1.5 million settlement between Elon Musk and the Securities and Exchange Commission (SEC). Although the judge had serious doubts about the agreement, the court decided it did not have enough reason to reject it. This settlement ends a long dispute between Musk and the SEC.
Key Facts
The SEC and Elon Musk reached a $1.5 million settlement.
A federal judge approved the settlement on Wednesday.
The judge expressed serious concerns but still approved the deal.
The settlement resolves a dispute that lasted for several years.
The SEC first announced the agreement in May.
The case involved regulatory issues with Elon Musk.
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Consumers have filed a lawsuit against Costco, claiming the retailer sold a protein powder containing toxic heavy metals without warning shoppers. The lawsuit says Costco did not test for or disclose the presence of lead, cadmium, and arsenic in the Orgain Organic Protein Powder.
Key Facts
Seven consumers filed a class-action lawsuit against Costco in federal court in Washington state.
The lawsuit accuses Costco of selling Orgain Organic Protein Powder as safe and nutritious without mentioning heavy metal contamination.
The heavy metals involved include lead, cadmium, and arsenic, which can cause health problems.
Plaintiffs claim Costco knew or should have known about the heavy metals but did not warn customers.
Lab tests cited by plaintiffs, including from Consumer Reports, found dangerous levels of heavy metals in the protein powder.
Orgain stated their products meet food safety standards and contain only trace environmental substances.
Plaintiffs want the court to require Costco to disclose heavy metal levels and stop selling the products without warnings.
Consumer Reports found many protein powders contain unsafe levels of heavy metals in previous testing.
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San Francisco International Airport plans to build a new private luxury terminal for paying passengers seeking a more exclusive airport experience. The terminal will have private security and customs lines, serve commercial flights, and is expected to open by late 2028.
Key Facts
The new terminal will be 75,000 square feet and located across the runway from current terminals.
It will offer private TSA and Customs and Border Protection lines for international travelers.
The airport is looking for companies to develop, build, and operate the terminal and will select a bidder by December.
The terminal aims to serve commercial airline passengers, not private or business jets.
Access will be available through membership or per-use payments, with prices set by the operator.
Other airports like London Heathrow and Paris Charles de Gaulle already have similar luxury terminals.
Airports in Los Angeles, Dallas Fort Worth, Miami, and Atlanta offer private terminals operated by the company PS.
San Francisco’s move responds to increasing demand for premium travel experiences amid local wealth growth.
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Disney and Pixar have partnered with the Starlight Children’s Foundation to bring the movie "Toy Story 5" to 300 children’s hospitals across the United States. This initiative aims to provide entertainment and comfort to hospitalized children through special screenings.
Key Facts
Disney and Pixar worked together for this project.
The movie featured is "Toy Story 5."
The film is being shown in 300 children’s hospitals.
The project is done in collaboration with the Starlight Children’s Foundation.
This effort focuses on bringing joy and comfort to sick children.
The program is taking place across the country, covering many hospitals.
The initiative started around July 2026.
It is part of Disney’s outreach to support communities.
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The global art market is growing but facing higher costs and lower profits for many galleries and dealers. A company called Art Technology Holdings created an AI tool named Taste to help art professionals manage tasks more efficiently while keeping personal connections with buyers.
Key Facts
Global art sales reached $59.6 billion in 2025, a 4% increase from the previous year.
Operating costs for galleries and dealers rose by about 5%, causing 38% of dealers to report lower profits.
The art market relies heavily on trust, personal relationships, and expert guidance.
Many in the art industry are cautious about technology that may reduce human interaction.
The AI platform Taste helps automate tasks like customer management and communication.
Taste aims to save time on administrative work so sales teams can focus on collectors.
Younger art buyers want more digital and personalized experiences.
Art fair sales made up 35% of dealer turnover in 2025, the highest since 2022.
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Leading economists are urging Andy Burnham, expected to become UK prime minister soon, to make big changes to the tax system and public services. They propose replacing several current taxes with one national tax on all income and using the money to fund universal public services like free school lunches and bus rides.
Key Facts
Economists including Jim O’Neill and Jonathan Portes wrote an open letter calling for radical tax and spending reform in the UK.
The country spends £100 billion per year on debt interest, more than on defense and half of the NHS budget.
The Prosperity 2030 report suggests replacing six taxes—including income tax and national insurance—with one levy on all income types.
This new tax system could raise an extra £75 billion annually within five years, depending on the rate set.
The report proposes spending the new revenue on universal services such as free bus service and free primary school lunches.
It recommends scrapping stamp duty and council tax and replacing them with a 1% national property levy given to local authorities.
Andy Burnham is expected to become Labour leader on 17 July and prime minister on 20 July.
Ed Miliband is considered a likely choice for Burnham’s chancellor, and Jim O’Neill might advise the new government.
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A report by Glaad shows that LGBTQ+ characters appeared in only 20.4% of major films released in 2025, continuing a three-year decline in representation. The study highlights fewer LGBTQ+ characters of color and almost no transgender characters in mainstream films, while smaller film companies are praised for more inclusive work.
Key Facts
Only 46 out of 225 films released in 2025 included LGBTQ+ characters.
LGBTQ+ representation dropped from 28.5% in 2023 to 20.4% in 2025.
LGBTQ+ characters mostly had supporting roles; fewer lead roles were present.
Transgender characters were nearly absent in over 200 films analyzed.
Mid-budget and horror films showed higher LGBTQ+ inclusion and box office success.
Smaller distributors like Mubi and Bleecker Street released notable LGBTQ+ inclusive films.
Younger audiences (Gen Z) have a higher percentage of LGBTQ+ individuals, making this market important for studios.
Glaad warns that ignoring LGBTQ+ viewers could hurt studios financially and their cultural relevance.
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The article explains how improving the way organizations manage their operations can help them grow and perform better. It highlights that many firms focus mainly on their core work but often overlook operational systems like billing and communication, which are important for long-term success.
Key Facts
Many organizations, such as law firms and financial companies, focus on their main services but neglect operational efficiency.
Operational problems like billing errors and poor communication can cause financial losses over time.
OLAF Companies offers services to improve operational management, compliance, and financial processes for professional firms.
Good operational leadership helps experts focus on their main work while ensuring the business runs smoothly.
Operational management is often reactive instead of strategic, which can worsen small inefficiencies.
Revenue loss can happen when billing and work tracking are inconsistent or inaccurate.
Operational functions should be seen as important to business success, not just costs to manage.
Strong operations support better client service and help businesses grow sustainably.
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The UK business secretary, Peter Kyle, urged pension funds to invest more in British companies or face new laws requiring them to do so. He expressed frustration that government efforts have not led to enough investment and said the government might enforce mandatory investment rules if needed.
Key Facts
Peter Kyle is the UK business secretary.
He called on pension funds to increase their investments in British companies.
If pension funds do not invest enough, the government may force them by law.
Previous government efforts, including deals and reforms, aimed to boost investment in the UK economy.
In 2023, the chancellor agreed with pension funds to voluntarily invest up to £50 billion in British assets.
New laws allowing mandatory investment powers exist but cannot be used until 2028.
Many large overseas investors invest in UK projects more than some domestic pension funds.
Kyle said a leadership change in the Labour party would not affect the ongoing industrial strategy.
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Kia America is recalling nearly 463,000 Telluride SUVs from model years 2020 to 2024 because their front power seat motors may overheat and cause a fire. Owners are advised to park outside and away from buildings until dealers fix the problem for free by installing a new electronic fuse assembly.
Key Facts
The recall affects almost 463,000 Kia Telluride midsize SUVs from 2020 to 2024.
The issue is caused by the front power seat motor overheating.
Overheating can happen if the power seat slide knob gets stuck or if an earlier recall repair was done incorrectly.
The overheating may lead to fires while the vehicle is being driven or parked.
The National Highway Traffic Safety Administration (NHTSA) is handling the recall.
Owners should park their vehicles outdoors and away from structures until repaired.
Kia dealers will fix the problem for free by adding an electronic fuse assembly.
Notification letters to owners should start going out on August 13.
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Paris Haute Couture Week showcased new fashion collections from top designers, including Pierpaolo Piccioli's first show for Balenciaga. The event featured creative ideas around showing or covering the body, using fantasy themes, and combining traditional craftsmanship with new technology.
Key Facts
Pierpaolo Piccioli debuted as Balenciaga’s couture designer with dramatic gowns and feathered looks.
The event lasted four days and included 30 fashion houses, with five showing couture for the first time.
Designers played with themes of showing skin, covering it, or making it disappear.
Some collections used fantasy elements like balloon shapes, feathers, and inflated latex designs.
New technology like particle accelerators and lab-grown silk were highlighted alongside traditional handmade techniques.
Couture pieces are very expensive and made for a small number of clients, but they help promote other luxury products like perfumes and handbags.
Major fashion houses are relying on new creative directors to bring fresh energy back to the luxury industry after a recent slowdown.
Well-known celebrities such as Demi Moore, Cynthia Erivo, Cate Blanchett, Pedro Pascal, and Tilda Swinton attended the shows.
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Brian Potter, a British songwriter and producer known for many popular 1970s songs, has died at age 87. He worked with American partner Dennis Lambert and helped create hits for artists like Glen Campbell, the Four Tops, and Take That.
Key Facts
Brian Potter was born in Essex, England, and trained as a drummer before becoming a lyricist.
He co-wrote the 1965 hit "Whatcha Gonna Do About It" for Small Faces.
Potter partnered with Dennis Lambert and moved to the U.S. to write and produce music.
They created hits such as "Rhinestone Cowboy" by Glen Campbell and "Baby Come Back" by Player.
Potter and Lambert helped refresh the Four Tops' sound, producing hits like "Ain’t No Woman (Like the One I’ve Got)".
They worked with several artists across genres including disco with Tavares and soul with Dusty Springfield.
"It Only Takes a Minute" was a disco hit they produced for Tavares and later covered by Take That.
Potter and Lambert received two Grammy nominations in 1976 for their work with Glen Campbell.
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