Business News

Exclusive discounts from CBS Mornings Deals

May 19, 2026 • CBS News

Summary

CBS Mornings Deals offers special discounts on various products that could be useful in daily life. Customers can visit cbsdeals.com to find these deals and buy items at lower prices.

Key Facts

CBS Mornings Deals features products with exclusive discounts.
The deals are available on the website cbsdeals.com.
The items promoted may become useful in everyday life.
CBS earns commissions when customers buy products through cbsdeals.com.
The offer is part of the CBS Mornings program content.

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CBS News

G7 finance ministers call for action on trade imbalances as Russia sanctions divide US from allies

May 19, 2026 • France24

Summary

Finance ministers from the G7 countries met in Paris and agreed that global trade imbalances need to be addressed to prevent economic instability. However, they did not specify clear plans, and disagreements remain, especially over U.S. sanctions on Russia amid the US-Israeli conflict with Iran.

Key Facts

G7 finance ministers agreed on the need to tackle global trade imbalances.
The meeting took place in Paris and lasted two days.
Ministers discussed the economic effects of the US-Israeli war on Iran and problems in global bond markets.
The group stressed cooperation to maintain global economic stability despite some disagreements.
U.S. extended a waiver on sanctions against Russia, which caused division among G7 members.
The ministers highlighted problems with energy, food, and fertilizer supply chains affecting vulnerable countries.
They called for a swift return to safe shipping through the Strait of Hormuz, blocked by Iran due to the war.
Non-G7 countries Brazil, India, Kenya, and South Korea were invited to the meeting to widen the group's influence.

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France24

Electrical utility megamerger is all about the data centers

May 19, 2026 • Ars Technica

Summary

NextEra Energy and Dominion Energy have announced a $67 billion plan to merge, creating one of the largest utility companies in the United States. The new company aims to lead in electricity generation and to support growing demand from data centers, especially in northern Virginia. The merger still needs approval from state and federal regulators.

Key Facts

NextEra Energy is the largest utility in the U.S. by market value; Dominion is the sixth-largest.
The merger would combine NextEra’s broad reach with Dominion’s strong presence near many data centers.
The new company would lead in overall electricity production, natural gas, and renewable energy in the U.S.
NextEra shareholders would own 74.5% of the new company; Dominion shareholders would own 25.5%.
NextEra CEO John W. Ketchum would lead the merged company; Dominion CEO Robert M. Blue would oversee regulated utilities.
Approval from regulators is expected to take 12 to 18 months.
Consumer advocates warn the merger could reduce competition and make regulation harder.
The deal is seen by analysts as a way for NextEra to speed up its growth in providing power for data centers.

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Ars Technica

Kroger Croutons Recalled in 17 States Over Potential Salmonella

May 19, 2026 • Newsweek

Summary

Kroger is recalling certain packets of its "Homestyle Cheese Garlic Croutons" sold in 17 U.S. states due to a possible salmonella contamination linked to a milk powder ingredient. The recall is a precaution after the ingredient supplier found contamination risks, but no reported illnesses so far.

Key Facts

The recall affects Kroger-branded croutons in 5-ounce pouches with UPC code 0 11110 81353 4.
Products with "Best If Used By" dates from February 17 to April 7, 2027, are included.
Affected croutons were sold in Kroger stores across 17 states including Alabama, Georgia, Illinois, Ohio, Texas, Virginia, and Wisconsin.
The potential salmonella contamination comes from milk powder supplied by California Dairies, Inc.
No Salmonella was found in tests of the seasoning batches used, but the milk powder supplier issued a recall.
Salmonella is a bacteria causing illness with symptoms like diarrhea, fever, nausea, and cramps.
People at higher risk include young children, older adults, and those with weak immune systems.
Consumers who have the croutons should not eat them and can contact Sugar Foods’ consumer hotline for questions.

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Newsweek

Costco patio swings recalled after reports of injuries from falls

May 19, 2026 • ABC News

Summary

Costco is recalling more than 18,000 patio swings after reports of the swing seat falling off and causing injuries. The company behind the product is offering free repair kits and asking customers to stop using the swings immediately.

Key Facts

The recall involves Agio Menlo Woven Patio Swings, model number 1934256.
These swings were sold only at Costco stores and on Costco.com between February 1 and March 20, 2026.
The seat can detach from the frame, which may cause a person to fall backward and get hurt.
There have been eight injury reports, including head and arm impacts.
The swings have a black metal frame, fabric canopy, and cushioned wicker-style seat.
Customers are asked to stop using the swings right away and contact the company for a free repair kit.
The repair kit contains four replacement hooks and installation instructions.
The swings originally sold for about $549 to $649.

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ABC News

HS2 bill could rise to £102bn with first trains delayed until 2039, government admits

May 19, 2026 • Guardian World

Summary

The UK government has announced that the HS2 high-speed railway project will cost up to £102.7 billion and be delayed until 2039 for the first trains between London and Birmingham, much later and more expensive than originally planned. The project started in 2012 with a budget of £32.7 billion and was expected to open in 2026.

Key Facts

HS2 will cost between £87.7 billion and £102.7 billion, significantly higher than the original £32.7 billion budget.
The first trains on the London to Birmingham route are now expected to run between 2036 and 2039.
The full railway, extending to Staffordshire, is expected to be completed between 2040 and 2043.
About one-third of the cost increase is due to inflation; the rest comes from other factors.
The project speed will be reduced slightly to save approximately £2.5 billion, from nearly 200 mph to about 225 mph (320 to 360 km/h).
Plans to use automatic train operation, common on busy city train lines, will be reconsidered.
The government considered canceling HS2 but decided completion would be less costly than cancellation.
HS2 Ltd leadership is tasked with better contract management and improving the project’s progress.

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Guardian World

When could mortgage rates drop close to 5% again? Here's what three experts predict.

May 19, 2026 • CBS News

Summary

Mortgage rates have been changing quickly due to factors like the conflict in Iran and inflation. Experts say mortgage rates near 5% are unlikely soon unless several key economic conditions improve and geopolitical tensions ease.

Key Facts

Mortgage rates recently fell below 6% but have bounced back to about 6.5% because of rising Treasury yields.
Rates affect homebuyers significantly; a 1% change can mean hundreds of dollars difference in monthly payments.
The Federal Reserve is keeping interest rates steady due to rising inflation.
Experts do not expect mortgage rates to drop close to 5% in the near future.
The ongoing war in Iran is a major factor keeping rates high.
Mortgage rates follow the 10-year Treasury yield, which has risen amid inflation and geopolitical risks.
For rates to drop to around 5%, inflation needs to go below 2.5%, oil prices must fall significantly, the war in Iran must end, and bond yields need to decrease.
A global recession and more government support for borrowing could also lower rates, but these scenarios are not expected soon.

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CBS News

A spotlight on the growing popularity of non-alcoholic wine

May 19, 2026 • France24

Summary

Non-alcoholic wine is becoming more popular with consumers. Amanda Thomson, CEO of the company Noughty, explains that several factors are helping this market grow and making alcohol-free wine more appealing.

Key Facts

Non-alcoholic wine sales are increasing quickly.
Amanda Thomson is the founder and CEO of Noughty, a company that makes alcohol-free wine.
Consumers are showing more interest in drinks without alcohol.
The market growth is driven by changing tastes and lifestyle choices.
Alcohol-free wine is attracting new customers who want healthier or different drink options.
The article is based on an interview on FRANCE 24's show Entre Nous.
The focus is on wine made without alcohol, not on alcoholic wines.
The trend is part of a broader shift toward non-alcoholic beverages in the beverage industry.

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France24

HS2 costs could top £100bn and trains will be slower than first planned

May 19, 2026 • BBC Business

Summary

The UK government announced that the HS2 high-speed rail project could cost up to £102.7 billion and will be delayed by up to six years, with trains starting service between 2036 and 2039. To reduce costs, the trains will run at a top speed of 320 km/h instead of the original 360 km/h.

Key Facts

The HS2 project cost estimate has risen to between £87.7 billion and £102.7 billion as of 2025 prices.
Train services are now expected to start between 2036 and 2039, delayed from the previous 2033 target.
The planned top speed for HS2 trains has been lowered from 360 km/h (224 mph) to 320 km/h to save up to £2.5 billion.
The project was originally forecast to cost around £75 billion in today's money when planned to reach Manchester and Leeds.
The current route focuses on connecting London to Birmingham.
Two-thirds of the cost increase is attributed to underestimated expenses by the previous government, poor project management, and missing work scopes.
One-third of the increase is due to inflation.
The full service including London Euston to Birmingham Curzon Street and a West Coast Main Line connection is expected between 2040 and 2043.

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BBC Business BBC Top Stories

Matt Brittin has taken the helm of the supertanker BBC, but there are plenty of icebergs in his way | Jane Martinson

May 19, 2026 • Guardian Tech

Summary

Matt Brittin has started as the new director general of the BBC, aiming to move the organization forward quickly but carefully. He faces major challenges including budget cuts, staff morale issues, and the need to maintain the BBC’s reputation for strong public service journalism.

Key Facts

Matt Brittin became the BBC’s director general and emphasized urgency and speed balanced with caution.
The BBC faces a planned £600 million cost-cutting program, including up to 2,000 job cuts.
The BBC’s income has fallen by up to 30% due to government cuts to the licence fee and non-payment.
Brittin plans to focus on saving money, simplifying decision-making, and maintaining editorial quality.
There is talk of reducing BBC broadcast channels and making deals with online platforms like YouTube and TikTok.
News departments may face the hardest cuts, which could harm investigative journalism and editorial standards.
Brittin lacks editorial experience but plans to appoint a deputy to help with this area.
Staff morale is low, and previous cuts have made the newsroom more risk-averse, affecting program quality.

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Guardian Tech

These are America’s most ‘overpriced’ housing markets

May 19, 2026 • The Hill

Summary

The article discusses which American housing markets are considered the most overpriced as the busy home-buying season begins. It highlights that some homes for sale may have prices higher than their actual value in certain areas.

Key Facts

The home-buying season is starting, and many houses are listed for sale.
Some housing markets in the U.S. have prices that are higher than what the homes are really worth.
The article identifies which cities or neighborhoods have the biggest price gaps.
Overpriced markets can make buying a home more expensive and challenging.
Price differences vary by location and depend on local demand and supply.
Knowing which markets are overpriced can help buyers make smarter decisions.
The term "overpriced" means that home prices do not match the typical market value based on factors like size, condition, and location.

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The Hill

Bias, laziness and fear — why can’t today’s economists get it right?

May 19, 2026 • The Hill

Summary

The article explains that economists, like weather forecasters and other experts who predict the future, often do not accurately know what will happen. This is because the methods they use to predict the economy have built-in problems.

Key Facts

Economists try to forecast the economy but often make mistakes.
Economic predictions are compared to weather forecasts and futurists’ guesses.
The article says economic forecasting has structural flaws, meaning the problem is in the way predictions are made.
These flaws make it very hard to know the future of the economy with certainty.
The article discusses why these experts struggle to provide accurate results.
It suggests that bias, laziness, and fear might be reasons behind poor economic predictions.
Economic conditions are complex and change quickly, which adds difficulty to forecasting.
Understanding the limits of forecasting can help people better interpret economic advice.

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The Hill

Carlton Chef: Creating the signature dish for the Jury President

May 19, 2026 • France24

Summary

Chef Axel Morand, the executive chef at the Carlton Cannes hotel, prepared a special dish for Park Chan-wook, the president of the Cannes Film Festival jury. The hotel serves thousands of meals daily to many guests during the festival.

Key Facts

Axel Morand is the executive chef at the Carlton Cannes hotel.
The Carlton Cannes serves thousands of dishes every day.
Morand created a unique dish for Park Chan-wook, Cannes Jury President.
This event took place during the Cannes Film Festival.
The article briefly mentions other news but focuses on the chef’s work for the jury president.

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France24

Swatch boss defends watch launch that sparked chaos and closures

May 19, 2026 • BBC Business

Summary

Swatch's CEO defended the launch of its new Royal Pop pocket watch, a collaboration with luxury brand Audemars Piguet, after large crowds caused chaos and forced store closures in several cities. The watch is affordable compared to typical luxury watches, and Swatch said production will continue for months, emphasizing that the launch is not limited to one day.

Key Facts

Swatch partnered with Audemars Piguet to release the Royal Pop pocket watch.
The watch costs around £335 ($400), much cheaper than usual Audemars Piguet watches.
Many stores experienced overcrowding and had to close temporarily for safety reasons.
The watch is not sold online and only 20 out of 220 global stores faced issues.
Police were involved in some locations, and a person was arrested in Cardiff.
Swatch CEO Nick Hayek Jr said the event was communicated as a long-term launch, not one day only.
Some people resold the watch at much higher prices, which the CEO did not criticize.
Experts say social media hype and the appeal to younger buyers helped create big crowds.

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BBC Business BBC Top Stories

Petrol hits highest price since start of Iran war

May 19, 2026 • BBC Business

Summary

The average price of unleaded petrol in the UK has reached 158.52 pence per litre, the highest since the start of the Iran war in February. Rising oil prices caused by disruptions in the Middle East have pushed fuel costs up, and petrol prices are expected to increase further unless oil prices drop significantly.

Key Facts

Petrol prices rose sharply after the Iran conflict began on 28 February.
The current average unleaded petrol price is 158.52p per litre, higher than the previous peak of 158.31p on 15 April.
Diesel prices have also increased, now averaging 185.92p per litre, up from 142.38p at the conflict’s start.
Brent crude oil, a global oil price benchmark, is trading around $111 per barrel, up from about $73 before the conflict.
The UK government may cancel a planned fuel duty increase scheduled for September to help drivers.
The current fuel duty rate is 52.95p per litre, which has been reduced since the Ukraine war.
Diesel prices have recently decreased but remain higher than expected compared to wholesale prices.
The RAC urges fuel retailers to pass on wholesale savings to consumers at petrol stations.

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BBC Business BBC Top Stories

Old Spanish Hen? Estrella owner buys Greene King ale brand

May 19, 2026 • Guardian World

Summary

Spanish brewer Damm, owner of Estrella lager, has agreed to buy the Old Speckled Hen ale brand from British pub chain Greene King. The ale will continue to be brewed in the UK initially, then production will move to Damm’s brewery in Bedford.

Key Facts

Greene King will sell its Old Speckled Hen ale brands to Damm, a Barcelona-based brewer.
The sale includes non-alcoholic and golden ale versions of Old Speckled Hen.
Brewing will stay at Greene King’s site in Bury St Edmunds during transition, then shift to Damm’s Bedford brewery.
Old Speckled Hen beers will remain available in Greene King pubs and supermarkets after the sale.
Greene King plans to focus more on selling beer in its pubs and less in supermarkets.
This sale follows a trend of British beers being bought by foreign companies, including deals involving AB InBev, SABMiller, and Asahi.
Molson Coors plans to close the Cornish brewery that makes Doom Bar ale, saying it is not financially sustainable.
Damm’s UK managing director said Old Speckled Hen fits well with their existing beer range and reconnects them with British beer traditions.

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Guardian World

Home Depot profit falls, but tops expectations in the face of economic uncertainty

May 19, 2026 • ABC News

Summary

Home Depot's profit dropped compared to last year but still exceeded Wall Street's predictions in the first quarter. The company benefited from strong buying by professional customers and homeowners stocking up on spring supplies, despite economic challenges like rising gas prices and a slow housing market.

Key Facts

Home Depot earned $3.29 billion in profit, or $3.30 per share, in the latest quarter, down from $3.43 billion and $3.45 per share a year ago.
Adjusted earnings per share were $3.43, slightly above analysts’ expected $3.41.
Revenue rose to $41.77 billion, beating the forecast of $41.59 billion.
Sales at stores open at least a year increased by 0.6%, including a 0.4% rise in U.S. stores.
The number of customer transactions fell by 1.3%, but average spending per customer went up to $92.76 from $90.71.
Home Depot expects total sales growth of 2.5% to 4.5% and comparable sales growth of flat to 2% for fiscal 2026.
Economic factors affecting sales include a slow housing market and a 28% rise in gasoline prices over the past year.
The housing market has been weak since 2022 due to higher mortgage rates and affordability issues.

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ABC News

Chairman of United Bank for Africa: 'We need to fix our problems ourselves'

May 19, 2026 • France24

Summary

Tony Elumelu, chairman of United Bank for Africa, said Africa should solve its own problems because Western aid is decreasing. He stressed the importance of the private sector investing in electricity and transportation to support the continent’s growth.

Key Facts

Western development aid to Africa is shrinking.
Africa cannot depend on outside help alone anymore.
Wealthy Africans have a duty to spread prosperity across the continent.
The private sector needs to act without waiting for governments.
Electricity and mass transportation are the most urgent infrastructure needs.
Lack of infrastructure has slowed down the African Continental Free Trade Area's progress.
The comments were made during the Africa-France summit in Nairobi.
Elumelu called for practical actions rather than just discussions to improve Africa’s development.

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France24

Elon Musk loses his court battle against Sam Altman's OpenAI, but vows to keep fighting

May 19, 2026 • France24

Summary

A California court decided that Elon Musk waited too long to start a lawsuit against OpenAI's leaders. Musk had accused them of hiding their plan to turn OpenAI from a charity into a for-profit company. Musk said he will continue to fight despite the court ruling.

Key Facts

The court ruling happened on Monday in California.
Elon Musk sued OpenAI for misleading the public about its business plans.
OpenAI changed from a nonprofit (charity) to a for-profit company.
The court said Musk filed the lawsuit too late.
Musk promised to keep fighting even after losing the case.
The lawsuit involved OpenAI's leadership, including Sam Altman.
Other business news mentioned includes job cuts at Standard Chartered and a CEO firing in South Korea.

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France24

Jackson Pollock painting sells for record $181m at auction

May 19, 2026 • BBC World

Summary

A Jackson Pollock painting called Number 7A, 1948, sold for $181 million at a Christie's auction in New York, setting a new record for his work. The sale makes it the fourth most expensive artwork ever sold at auction.

Key Facts

The painting sold for $181 million (£135 million).
Number 7A, 1948 is described as one of the first truly abstract paintings.
The artwork was part of the private collection of media owner SI Newhouse.
It is now the highest-priced Pollock painting sold at auction, surpassing the previous record of $61.2 million in 2021.
The painting is over three meters wide and features black drips with touches of red.
A bronze sculpture by Constantin Brancusi from the same auction sold for $107.6 million, the second highest price for a sculpture at auction.
Other high-value paintings by Mark Rothko and Joan Miro also sold at the auction, breaking previous records.
Jackson Pollock was a major figure in abstract expressionism and used a drip painting technique.

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BBC World BBC Top Stories

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