The article discusses how college sorority recruitment, known as 'rush,' has become a big business. Some students take advantage of social media to share their rush experiences and make money.
Key Facts
'Bama rush' refers to the sorority recruitment process at the University of Alabama.
Sorority recruitment is a significant event on many college campuses.
Some future sorority members are earning money by posting about rush on social media.
These posts attract attention and can turn into a business opportunity.
The article explores the financial side of this collegiate tradition.
Social media plays a key role in changing how students experience and promote rush.
This trend shows how college social events are becoming more commercialized.
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CBS Mornings Deals offers special discounts on products that can help improve daily life. Customers can find these deals on the website cbsdeals.com, where CBS earns a commission from sales made through the site.
Key Facts
CBS Mornings Deals features products with exclusive discounts.
The deals aim to improve everyday lifestyle.
Customers can visit cbsdeals.com to access the offers.
CBS earns commissions on purchases made through the website.
The promotion is part of the CBS News programming.
The deals cover various items relevant to daily use.
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Jaguar Land Rover plans to cut fewer than 300 jobs as part of a program to restructure the company. The cuts mainly affect salaried and management staff and come after a cyberattack in 2025 halted production for five months and caused big losses.
Key Facts
Jaguar Land Rover (JLR) employs about 30,000 people in the UK and 10,000 overseas.
A cyberattack in September 2025 stopped all manufacturing for five months.
The cyberattack caused a 27% drop in JLR's production and cost the company about £1.9 billion.
JLR is stopping Jaguar car production to prepare for new all-electric models.
The job cuts are part of a "limited redeployment and displacement programme."
The job losses will mainly affect salaried and management roles, not factory workers.
JLR is changing its business to improve decision-making and performance.
The company supports affected employees by helping them find other roles or offering early exit options.
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Wall Street had its worst day of 2026 after the Federal Reserve decided to keep interest rates unchanged. The decision came despite some members of the Fed's committee wanting a different approach.
Key Facts
The stock market fell sharply on the day of the announcement.
The Federal Reserve is the U.S. central bank that sets interest rates.
Interest rates were kept steady, with no increase or decrease.
Some members of the Federal Open Market Committee (FOMC) disagreed with the decision.
The decision affects borrowing costs for individuals and businesses.
Lower or steady rates can influence investment and spending in the economy.
This was the most significant market drop so far in 2026.
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UK officials searched homes and businesses linked to five companies accused of sending spam texts about car finance claims. The crackdown follows millions of complaints about unwanted marketing related to compensation for drivers mis-sold car loans in a large industry scandal.
Key Facts
The UK Information Commissioner’s Office (ICO) raided locations in London, Liverpool, Bolton, Burnley, and Swansea.
Officials seized laptops, phones, and documents during the searches.
Over 12 million complaints about spam texts have been made since September 2025.
The Financial Conduct Authority (FCA) announced a £7.5 billion compensation plan for victims of car loan mis-selling.
The FCA had to partly pause the payout scheme due to legal challenges, delaying payments until at least December or February.
Companies involved reportedly sent about 170 million unsolicited texts between September 2025 and May 2026.
The ICO collaborates with the FCA and other regulators to address poor practices by claims companies, law firms, and lead generation firms.
The FCA advises people they can claim compensation for free using a letter template available on its website and is running a public info campaign until September 6.
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The UK faces a threat of higher inflation mainly because of the war in the Middle East, which could keep oil prices high. The Bank of England kept interest rates at 3.75% because inflation pressures in the UK economy are currently low, but it may need to raise rates if the conflict continues and prices rise further.
Key Facts
The Bank of England’s monetary policy committee paused interest rate hikes at 3.75%.
Inflation in the UK is currently near the Bank’s 2% target without the Middle East conflict.
Rising oil prices due to the war could push inflation higher, possibly above 4.1%.
So far, companies and workers have not increased prices or wages in response to cost rises.
The UK economy has lost about £28 billion in growth in 2024 because of the Middle East crisis.
The Bank is monitoring inflation closely and may raise interest rates if the war and oil prices worsen.
Rising mortgage and commercial lending rates have occurred through financial markets, not Bank action.
The report links the inflation risk to President Donald Trump’s actions related to the Middle East conflict.
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Airbus has been fined £6.4 million by the UK tax authority, HM Revenue and Customs (HMRC), for breaking rules on exporting sensitive military technology. The company admitted to not keeping proper records of these exports before November 2022 and cooperated with the investigation.
Key Facts
Airbus breached UK export rules designed to control sensitive military goods.
The fines total £6.4 million, the largest out-of-court settlement for export offences by HMRC.
The violations involved failure to keep accurate records of exported or transferred controlled technology.
These breaches happened before November 2022 and were self-reported by Airbus.
Export controls aim to prevent military items from reaching banned countries or individuals.
Airbus Operations Limited, the UK branch of Airbus, received the fine.
Airbus said it worked with authorities and took corrective steps after the investigation.
The fine highlights the importance of strict compliance with export licensing and record-keeping rules.
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The Federal Reserve decided to keep interest rates the same in its recent meeting. However, some officials wanted to raise the rates, suggesting a possible increase later this year.
Key Facts
The Federal Reserve did not change interest rates in the latest decision.
Three Fed officials voted to increase rates instead of keeping them steady.
Keeping rates steady means borrowing costs stay the same for now.
A rate hike would make loans more expensive for consumers and businesses.
The possibility of a rate increase later this year remains open.
Interest rates affect things like credit cards, mortgages, and savings.
The Fed’s decisions aim to balance economic growth and control inflation.
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Rolls-Royce and BAE Systems both expect higher profits because many governments are spending more on defense. This rise in spending is helping Rolls-Royce sell more jet engines and power systems, and BAE Systems is getting bigger orders for weapons and military equipment.
Key Facts
Rolls-Royce raised its forecast for operating profit to £4.7bn-£4.9bn, up from £4bn-£4.2bn.
Rolls-Royce also increased its free cashflow forecast to £3.8bn-£4bn.
Higher defense spending since Russia’s invasion of Ukraine is a big factor in Rolls-Royce’s growth.
Rolls-Royce benefits from military projects like Saab GlobalEye and MQ-4C Triton, both using its engines.
BAE Systems raised its profit forecast to a 10%-12% rise, up from 9%-11% previously.
BAE makes tanks, fighter jets, and weapons for the UK and sells to the US, Gulf countries, and Turkey.
BAE has a £5.9bn UK contract to build the HMS Dreadnought nuclear submarine.
Both companies see steady growth due to increased government military budgets worldwide.
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The Bank of England kept its key interest rate at 3.75% for the fifth time this year after inflation in the UK dropped more than expected. The rate decision reflects concerns about ongoing inflation and recent conflicts in the Middle East affecting oil prices and the economy.
Key Facts
The Bank of England’s monetary policy committee voted 6-3 to keep the interest rate at 3.75%.
The rate has been at 3.75% since December after four rate cuts expected in 2025.
UK inflation fell to 2.6% in June from 2.8% in May, above the bank’s target of 2% for 21 months straight.
Fighting between the US and Iran caused oil prices to rise sharply, raising economic concerns.
Brent crude oil prices jumped over $100 a barrel in late July but later dropped to about $92.
The US Federal Reserve also kept its interest rate steady at 3.5%-3.75%, signaling caution on inflation.
UK economists are watching new Prime Minister Andy Burnham’s policies on taxes and spending that might affect inflation and growth.
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Taco Bell has been linked to a multi-state outbreak of cyclosporiasis caused by contaminated lettuce, leading to thousands of infections and several lawsuits. Despite declining restaurant visits, Taco Bell has increased app usage through special deals, and its parent company’s stock has fallen due to the outbreak’s impact.
Key Facts
The CDC identified Taco Bell’s shredded iceberg lettuce as a source of cyclosporiasis infections in several states.
Over 6,700 lab-confirmed cases and about 11,500 suspected cases have been reported nationwide since May.
The outbreak is linked to lettuce supplied by Taylor Farms from central Mexico, which was recalled in July.
Taco Bell removed the affected lettuce from its restaurants on July 17.
The company is facing lawsuits from customers who became ill after eating at Taco Bell.
Foot traffic at Taco Bell locations dropped by 21% on July 23 compared to the year’s average.
Taco Bell used $1 deals to promote purchases through its app, which rose in popularity during the outbreak.
Yum! Brands, the parent company, saw its shares fall about 8% in July before reporting quarterly earnings.
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The Bank of England has decided to keep interest rates at 3.75% due to worries that the ongoing conflict in Iran could push inflation above 4% next year. The bank highlighted that higher oil prices caused by the war might increase the cost of living, but it aims to keep inflation temporary and close to its 2% target.
Key Facts
The Bank of England’s monetary policy committee voted 6-3 to keep interest rates at 3.75%.
Inflation in the UK is expected to peak at about 3.2% later this year but could rise to 4.5% by mid-2027 if the Iran war worsens and oil prices stay above $100 a barrel.
Brent crude oil prices recently rose above $100 a barrel but were trading above $90 at the time of the report.
UK inflation fell to 2.6% in June, down from a peak of 3.8% last year.
The Bank noted the UK’s weak economic growth and rising unemployment might limit inflation growth despite the war.
The UK government plans to lower electricity bills by £45 a year and remove VAT on them, which may reduce inflation by 0.1 percentage points.
Three members of the Bank’s committee wanted to raise rates to 4% immediately due to inflation concerns.
Financial markets expect borrowing costs to rise to 4% later in the year.
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Many young adults feel that having children is too expensive and worry they cannot afford to start a family soon. Financial expert Jill Schlesinger and guest Kayla Sabbagh explain why, despite these concerns, raising children today can be more manageable than people think.
Key Facts
Most Gen Z and millennials say the cost of raising children seems too high.
Many young people do not believe they can start a family within the next five years.
Jill Schlesinger offers advice to help people overcome fear about the financial challenges of having kids.
Kayla Sabbagh from Greenspring Advisors co-hosted and shared insights during the discussion.
They explain how current economic conditions may allow more people to afford children than commonly believed.
A 23-year-old caller named Brianna, still living with her parents, asked for personal financial guidance.
The program was part of CBS News’ Reality Check series on financial topics.
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Delta and United Airlines have created new rules that do not allow humanoid and animal-like robots to fly on their planes. These robots cannot be in the passenger area or the cargo space.
Key Facts
Delta and United Airlines introduced new policies for robot travel.
Humanoid robots look like humans; animal robots look like animals.
These robots are not allowed in passenger cabins.
They also cannot be placed in the cargo holds.
The ban applies to all flights operated by these airlines.
The new rules aim to address safety or operational concerns.
Passengers cannot bring these robots aboard or check them in as cargo.
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Lloyds Banking Group plans to cut £2 billion in costs over the next four years by using new technology and artificial intelligence (AI) to grow. The bank will invest £13 billion by 2030 to improve services, expand internationally, and increase shareholder returns.
Key Facts
Lloyds will launch a new strategy in January focusing on AI and technology to attract customers and improve efficiency.
The bank aims to provide AI-powered advice for pensions and personalized offers based on customer behavior.
Lloyds plans to reduce costs by £2 billion, possibly affecting jobs and office spaces, but details remain unclear.
The bank will expand its corporate banking in the US and Europe, shifting from past retrenchment after the 2008 crisis.
AI and blockchain are expected to speed up mortgage approvals to around three days.
Lloyds will strengthen its car loan business with a new app for drivers to buy, insure, and charge electric vehicles.
Second-quarter profits rose 14% to £2.3 billion, allowing for higher dividends and a £1 billion share buyback.
Lloyds’s share price increased by 1.7% after the announcement.
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The Federal Reserve kept its main interest rate steady this week, even though some policymakers wanted to raise it. Mortgage rates have been rising due to higher energy prices and concerns about inflation, which could make home loans more expensive for buyers soon.
Key Facts
The Federal Reserve's benchmark interest rate remains between 3.50% and 3.75%.
Three out of 12 Federal Reserve policymakers voted to increase rates.
President Donald Trump supports the Fed chairman but says the board wants to keep rates high.
Mortgage rates, especially 30-year fixed loans, have reached their highest level in nearly a year.
Long-term Treasury yields influence mortgage rates and recently hit their highest since 2007.
Rising oil prices and inflation are major reasons mortgage rates are climbing.
Analysts expect possible interest rate hikes later this year, which could push mortgage rates above 7%.
Borrowers are advised to consider locking in current mortgage rates to avoid potential increases.
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The United States, Canada, and Mexico are negotiating changes to the United States-Mexico-Canada Agreement (USMCA). The key issue is how much the countries value the stable legal rules that have supported decades of economic cooperation across North America, rather than just focusing on tariffs and trade rules.
Key Facts
US, Canadian, and Mexican officials are discussing updates to the USMCA trade deal.
The current US government declined to renew the USMCA in its existing form.
North America has developed strong economic ties over 30 years through integrated supply chains and investments.
The stability of legal rules and institutions has been a main reason businesses invest across the region.
Businesses value predictable legal frameworks more than just low tariffs because it reduces uncertainty.
Changes or uncertainty in trade agreements can affect investments in factories and infrastructure.
The Gordie Howe International Bridge is a new project to support cross-border commerce between Canada and the U.S.
Despite trade disputes, the bridge aims to improve trade flow and economic integration in the region.
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Data centers are growing in many American towns, bringing new buildings full of computers that use lots of power and water. If local leaders make good deals, these data centers can bring in tax money that helps lower property taxes and fund schools and infrastructure without raising costs for residents.
Key Facts
Data centers are large facilities filled with computers that store and process data.
They use significant land, electricity, and water resources in communities where they build.
Unlike homes, data centers bring in commercial tax revenue without increasing local service needs like schools or roads.
In Loudoun County, Virginia, data centers helped fund public services and kept property taxes low.
Local officials should negotiate clearly to ensure data centers lower residents’ property taxes and contribute to community costs.
Agreements can include funds for specific needs like teacher bonuses, school grants, and facility upgrades.
The cost of new electric infrastructure needed by data centers should be paid by the companies, not the residents.
Proper deals can make data centers help communities financially, but poor negotiations might leave residents paying more.
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US government borrowing costs rose to their highest level in 19 years after the Federal Reserve decided to keep interest rates the same. The Fed’s choice raised concern about whether it is acting fast enough to control inflation, which has been affected by recent conflict involving President Trump.
Key Facts
The yield on the 30-year US Treasury bond increased to about 5.24%, the highest since 2007.
The Federal Reserve kept its main interest rate between 3.5% and 3.75% for the fifth time in a row.
Fed Chair Kevin Warsh affirmed the Fed’s commitment to keeping inflation at a 2% target.
Inflation in the US slowed to 3.5% annually in June but risks rose again after fighting resumed between the US and Iran.
Higher bond yields have already increased borrowing costs for the overall economy.
Markets reduced their expectation of a rate increase in September after the Fed’s decision.
US stock markets dropped following the Fed meeting, with major indexes falling between 1.5% and 2.2%.
Some experts feel the Fed’s reasons for not raising rates now were not clearly explained.
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Aidan and Catherine McGowan recently bought a 1906 farmhouse in South Dakota and discovered severe stains and bad smells under the carpet while renovating. They plan to repair the floors and walls themselves despite having no renovation experience.
Key Facts
The McGowans bought a 120-year-old farmhouse on 10 acres in South Dakota.
They noticed a strange smell and stains under the carpet in one room.
The stains were brown and yellow, covering almost the entire floor underneath the carpet.
The couple plans to remove the subfloor, cut out the bottom part of the drywall, and install new hardwood floors.
Their renovation projects keep growing bigger, leading to many trips to the hardware store.
They have no prior experience in home renovation and are learning as they go.
Renovation costs for whole houses in the U.S. can range from $20,000 to $200,000.
Some social media viewers shared their own stories of hidden problems found during home renovations.
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