The U.S. Treasury Department is preparing plans for a special $250 bill featuring President Donald Trump's portrait and signature if a new law is passed. This would be the first time in over 150 years that a living person appears on U.S. currency.
Key Facts
The bill would be a $250 Federal Reserve note honoring the nation’s upcoming 250th anniversary.
Current law only allows deceased people to be on U.S. money.
Republican Representative Joe Wilson introduced a bill to authorize this new currency with President Trump’s image.
The bill has 15 Republican supporters but has not passed and is stalled in the House Financial Services committee.
The Treasury’s Bureau of Engraving and Printing is preparing plans in case the bill becomes law.
The bill requires a 60-vote bipartisan majority in the Senate to pass.
The Treasury says no taxpayer money will be used to produce the new bill.
The State Department will issue special passports featuring Trump’s portrait and signature for the 250th anniversary.
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Electricity use in the U.S. is expected to reach higher levels in summer 2026 than in the previous five years. This increased demand, combined with rising energy costs and extreme weather, may lead to higher electricity bills, especially in certain states that already have expensive power.
Key Facts
Electricity use is forecasted to be at record high levels in summer 2026.
Extreme heat and increased use of air conditioning will raise power consumption.
The West, Southwest, and Plains regions are expected to experience especially hot weather.
States such as Connecticut, Massachusetts, Hawaii, Rhode Island, and California have the highest electricity prices.
Rising natural gas prices and infrastructure damage from wildfires and hurricanes may increase costs further.
Delivery charges and utility rate increases also contribute significantly to higher bills.
Consumers can lower bills by adjusting thermostats, using fans, running appliances off-peak, and improving home insulation.
Long-term savings may come from upgrading to energy-efficient appliances and smart thermostats.
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CNN has filed a lawsuit against the AI search engine Perplexity in New York, accusing it of illegally copying CNN’s articles, videos, and images. The lawsuit seeks money damages and a court order to stop Perplexity from using CNN’s copyrighted content without permission.
Key Facts
CNN claims Perplexity copied thousands of its stories, videos, and images to feed its AI products.
The lawsuit was filed in federal court in New York.
CNN wants financial compensation and a legal order to prevent further copyright violations.
Perplexity says facts cannot be copyrighted and denies wrongdoing.
CNN is owned by Warner Bros.
Since 2022, many news publishers have raised concerns about AI tools using their content without permission.
Other companies like The New York Times and Reddit have also sued Perplexity for similar reasons.
Some news companies have made deals with Big Tech and AI firms to share content legally and get paid.
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Thousands of homes in Kent faced water outages and low water pressure during a hot weather spell, affecting about 22,000 people. South East Water, a private company, said the outages were due to high demand and asked people to use water only for essential needs. Some residents expressed frustration with the company’s response and criticized the water system’s inability to handle the situation.
Key Facts
On Wednesday, 8,000 customers in Whitstable lost water supply.
An additional 14,000 customers in Tankerton, Ashford, and nearby areas experienced low water pressure or intermittent supply.
South East Water estimated 22,000 people were affected by water problems.
The company said the hot weather caused higher water demand.
Residents complained about difficulty contacting emergency services and about the lack of water delivery.
South East Water’s chair and chief executive resigned recently after repeated water outages.
People lined up to collect water at distribution points in hot weather.
The UK government plans to reduce water use per person in England by 20% by 2038.
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CBS News is making big changes to its news show 60 Minutes for its 59th season this fall. Nick Bilton, a former New York Times tech journalist, will become the new executive producer, replacing Tanya Simon and other longtime staff who have left or been let go.
Key Facts
Nick Bilton will be the executive producer of 60 Minutes starting this fall.
Tanya Simon, the previous top producer, was removed from her role after less than two years.
Several other key staff, including correspondent Cecilia Vega and executive editor Draggan Mihailovich, have also left the show.
Veteran correspondent Sharyn Alfonsi was terminated; she said her contract was not renewed after her story about an El Salvador prison drew criticism.
60 Minutes has been the most-watched news program for 52 years, with about 9.1 million viewers recently.
CBS News editor-in-chief Bari Weiss praised Bilton as an ambitious journalist.
Bilton said he respects the show’s history but wants to adapt it to how people now consume news.
Bilton has a background in tech journalism and documentaries but no prior experience running a TV news program.
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This article compares how much interest you could earn in one year by putting $90,000 into three types of accounts: a certificate of deposit (CD), a high-yield savings account, and a money market account. It shows that CDs usually pay the most interest and guarantee the rate, while high-yield savings and money market accounts have slightly lower rates but allow more flexibility.
Key Facts
Traditional savings accounts have very low interest rates, around 0.38%, which is less than inflation.
A CD has a fixed interest rate that stays the same until the account matures.
High-yield savings and money market accounts have variable rates that can change with the market.
For $90,000 over 6 months, a CD at 4.10% pays about $1,826 in interest; a high-yield savings at 4.03% pays $1,796; a money market at 3.90% pays $1,738.
For 9 months, the high-yield savings account pays slightly more interest ($2,707) than the CD ($2,687) and money market ($2,620).
For 1 year, the CD at 4.11% pays the most interest, about $3,699.
Money market accounts let savers write checks, offering more access to funds than CDs or high-yield savings.
The best choice depends on whether a saver values guaranteed interest or account flexibility.
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Patagonia, an outdoor clothing company, has sued drag queen and climate activist Wyn Wiley, who performs as Pattie Gonia, over trademark issues. Wiley says the lawsuit threatens their name, work, and community, while Patagonia says it is protecting its brand and employees.
Key Facts
Pattie Gonia is the stage name of Wyn Wiley, a drag queen and climate activist with millions of followers.
Patagonia filed a lawsuit in January claiming Pattie Gonia’s name and branding confuse customers and compete with their products.
The company alleges Wiley broke an agreement about how to use similar fonts and logos.
Patagonia wants to stop Wiley from trademarking "Pattie Gonia" and only seeks $1 in damages plus legal fees.
Wiley has raised $3.7 million for environmental causes through performances and charity events.
Patagonia said they did not want a legal fight but need to protect their business, regardless of shared values.
Wiley called the lawsuit an attempt to erase their identity and advocacy work.
Patagonia was founded in 1973 and is named after a region in South America.
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Americans are spending more money than the income they earn is growing, which means they are using up their savings faster. Rising prices, especially for energy, are squeezing household budgets and causing people to dip into their financial reserves to keep spending.
Key Facts
Consumer spending rose by 0.5% in April, while disposable personal income fell by 0.1%.
The personal saving rate dropped to 2.6% in April, its lowest since mid-2022.
Higher spending on gasoline and energy goods is a major reason for increased expenses.
Inflation, measured by the Federal Reserve’s preferred gauge, rose 0.4% in April but cooled from 0.7% in March.
Core inflation, which excludes food and energy, increased 0.2% in April and is at its highest yearly level since 2023.
Real disposable income (income after taxes and inflation) fell 1.4% in April compared to last year.
Before the pandemic, Americans saved at about twice the current rate.
The current low saving rate might indicate financial pressure rather than confidence, since spending increases are mostly on necessities like energy.
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A mother traveling through Alabama found two McDonald’s locations with baby changing tables riveted shut, preventing her from changing her infant’s diaper. The local restaurant owner explained this was a temporary safety measure due to damage, but the mother remains frustrated and shared her experience online, which gained widespread attention.
Key Facts
Ellen Hall stopped at a McDonald’s in Montgomery, Alabama, and found the baby changing table was riveted shut.
She drove 15 minutes to another McDonald’s in Greenville, Alabama, and found the changing table there was also riveted shut.
The changing tables were secured as a safety precaution because they were damaged.
The owner of the two locations said repairs were in progress and that guest safety was a priority.
McDonald’s staff initially gave conflicting information about whether the decision was corporate or franchise-based.
Hall changed her baby in her car using disposable mats after failing to access the changing tables.
She shared a photo of the riveted changing table on Reddit, where it received over 73,000 upvotes.
Hall wants the tables replaced with a more secure but accessible design or removed entirely to avoid confusion.
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The European Union fined Chinese online retailer Temu €200 million ($232 million) for selling unsafe products like toxic toys and faulty electronics that did not meet EU safety rules. The fine was issued under the Digital Services Act, which requires online platforms to better protect consumers from harmful or illegal goods.
Key Facts
Temu was fined €200 million ($232 million) by the European Union.
The fine came after an investigation found Temu sold unsafe toys and electronics.
Temu failed to properly assess the risks of illegal products on its platform.
The EU's Digital Services Act (DSA) requires online platforms to keep users safe from harmful goods.
Investigators found baby toys with dangerous chemicals and removable parts that risk suffocation.
Electronic chargers tested by investigators failed basic safety standards.
Temu has 92 million users in the EU and is owned by PDD Holdings Inc.
Temu must submit a plan by the end of August to fix these issues or face more fines.
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Inflation in the U.S. rose to 3.8% in April, the highest level since May 2023, mainly due to increased gasoline prices caused by the conflict involving Iran. The Federal Reserve may face pressure to raise interest rates to control inflation, but markets currently expect rates to stay the same next month.
Key Facts
Inflation increased for the second month in a row, reaching 3.8% in April compared to last year.
The Personal Consumption Expenditures (PCE) Index, the Federal Reserve’s preferred inflation measure, rose from 2.8% in February.
The Iran war caused a closure of the Strait of Hormuz, disrupting global oil supply and pushing gas prices higher.
Gasoline prices rose by 48%, reaching an average of $4.42 per gallon since the conflict started on February 28.
The U.S. savings rate dropped to 2.6%, its lowest since 2022, showing consumers have less money to save.
The Federal Reserve’s benchmark interest rate currently stands between 3.5% and 3.75%.
Futures markets expect the Fed to keep interest rates steady next month but see over a one in three chance of a rate increase before the end of the year.
The conflict in Iran has caused one of the largest oil price shocks in recent history.
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Many communities across the U.S. are opposing the rapid build-up of artificial intelligence (AI) data centers due to concerns about energy, water use, and local impacts. State leaders and businesses in places like New Jersey, Pennsylvania, New York, and Texas are considering or enacting rules and pauses on new data centers to manage these effects better.
Key Facts
Over 4,300 AI data centers exist in the U.S., with large numbers in Virginia, Texas, and New York.
A Gallup poll showed 70% of Americans oppose building AI data centers in their communities.
New Jersey and Pennsylvania governors announced new rules to ensure data centers manage energy and water use responsibly.
Nearly 500 businesses in New York asked for a temporary halt on new data centers, citing pollution, resource strain, and rising costs.
Texas Agriculture Commissioner called for a pause on new large data centers to study their long-term impact on land, water, and power.
Some local governments in New Jersey have banned data centers entirely within their areas.
Critics worry about increased fossil fuel use, water shortages, higher electricity prices, and pollution from these rapidly growing facilities.
Data centers use large amounts of electricity for operation and water for cooling, affecting rural communities and infrastructure.
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The Commodity Futures Trading Commission (CFTC) asked a judge to cancel a settlement made during President Biden’s time with Gemini, a cryptocurrency exchange run by the Winklevoss twins. The CFTC claims that unfair methods were used to force Gemini into the settlement.
Key Facts
The CFTC is a U.S. government agency that regulates futures and options markets.
Gemini is a cryptocurrency exchange created by Tyler and Cameron Winklevoss.
The settlement in question was reached during President Biden’s administration.
The CFTC says the case used "inappropriate tactics" to pressure Gemini into settling.
The agency officially requested a judge to reject or toss out this settlement.
The move suggests ongoing disputes about regulation and enforcement in the crypto industry.
Tyler and Cameron Winklevoss are well-known investors in the cryptocurrency space.
The issue reflects tensions between cryptocurrency companies and government regulators.
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Gold and silver prices rose sharply in late 2025 but dropped significantly by May 2026. Experts have different views on what will happen to gold prices in June, with some expecting small declines and others predicting stability or increases depending on world events and economic policies.
Key Facts
Gold prices jumped from about $3,865 in October 2025 to over $5,000 in January 2026 before falling to $4,463 by late May.
Silver rose from $47 to $116 per ounce in the same period but dropped back to $74 by late May.
Factors like the war in Iran and higher interest rates from the Federal Reserve influenced the recent price drops.
Over the past year, gold increased 36% and silver went up 133%, despite recent declines.
Some experts expect gold prices to fall slightly in June due to lower demand from jewelry makers in Asia.
Others predict gold prices could stay steady or rise if conflicts worsen or inflation stays high.
The Federal Reserve’s interest rate decisions are a key factor for gold’s attractiveness compared to other investments.
Analysts compare current conditions to the 1970s stagflation period, which was favorable for gold prices.
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U.S. stock markets are near their highest levels ever as many American companies report better profits than expected. Oil prices are changing a lot due to worries about the war with Iran and talks to reopen a key shipping route. Meanwhile, inflation is rising but is close to what experts predicted.
Key Facts
The S&P 500 index reached an all-time high, with the Dow Jones down slightly and the Nasdaq up.
Companies like Dollar Tree, Snowflake, Hormel Foods, and Kohl’s reported profits that beat analysts’ expectations.
Snowflake’s stock jumped 33.4% due to strong growth driven by artificial intelligence.
Oil prices rose to about $89.49 a barrel after fluctuating because of uncertainty about a deal between the U.S. and Iran.
The Strait of Hormuz, an important oil shipping route, may reopen if a deal is reached.
The U.S. intercepted missiles launched by Iran, increasing tensions in the region.
Inflation, measured by a Federal Reserve-preferred index, rose but stayed near expected levels.
U.S. personal savings dropped to a four-year low, showing financial strain on many families.
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CBS Mornings Deals offers special discounts on products designed to improve daily life. Viewers can visit cbsdeals.com to find and buy these discounted items.
Key Facts
CBS Mornings Deals features different products with reduced prices.
The products are meant to help make everyday life better.
Discounts are available exclusively through cbsdeals.com.
CBS earns commissions when people buy items from the website.
The deals are promoted during CBS Mornings broadcasts.
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The FDA has issued the highest risk Class I recalls for three types of chips made by Legacy Bakehouse due to possible salmonella contamination. The contamination is linked to a recalled milk powder from California Dairies used in the seasoning for these products.
Key Facts
Three chip products by Legacy Bakehouse were recalled: Butter Parsley Bagel Crisps, Parmesan & Herb Bagel Crisps, and Giant Eagle-branded Baked Pita Chips.
The recalled products include large 10-pound wholesale cases and smaller retail bags sold in several states.
The recall is due to potential salmonella contamination traced to California Dairies milk powder used in the seasoning.
The milk powder had been previously recalled for salmonella risk, even though tests on the seasoning blend showed negative results before use.
The FDA classifies these recalls as Class I, meaning there is a reasonable chance the products could cause serious health problems or death.
Other products including potato chips, snack mixes, and croutons have also been recalled due to the same milk powder issue.
Salmonella is a common cause of food poisoning that can be serious, especially for vulnerable people.
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A new analysis by the Environmental Working Group found that half of California's surface water samples contained harmful chemicals called PFAS, used in pesticides. These chemicals do not break down naturally and can contaminate drinking water, posing health risks to the public.
Key Facts
PFAS are "forever chemicals" used in pesticides and many consumer products like nonstick cookware and waterproof clothing.
The Environmental Working Group reviewed 4,158 surface water samples from 2020 to 2023 in 11 California counties.
Half of the tested water samples contained PFAS pesticides.
San Luis Obispo and Monterey counties had the highest detection rates of PFAS pesticides.
PFAS chemicals can cause health problems including cancer, thyroid and liver diseases, and weak immunity.
PFAS do not break down naturally and remain in the environment for a long time.
California uses 2.5 million pounds of PFAS annually on farmland, leading to widespread contamination risks.
Traditional water filters cannot remove PFAS effectively; advanced treatments are needed but are costly.
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A report finds that datacentres in Ireland have raised household electricity bills by an average of €360 from 2015 to 2023 by increasing energy demand. The datacentres use a large share of Ireland’s electricity, pushing up prices especially since much of the power comes from fossil gas. Industry groups say datacentres contribute positively to the economy and pay significant taxes.
Key Facts
Datacentres in Ireland used 22% of the country’s electricity last year, more than all urban homes combined.
This electricity use by datacentres has added around €715 million to Ireland’s economy costs and raised household bills by €360 on average between 2015 and 2023.
The report suggests households are indirectly subsidizing big tech companies through higher energy bills, calling it a "hidden data centre tax."
Datacentre demand raises gas-powered electricity use, which can cause price spikes during energy crises.
If datacentre growth continues, households may pay an extra €295 to €644 on electricity bills by 2034.
Industry groups argue datacentres buy electricity differently, invest €18 billion recently, pay grid charges, and meet EU’s strict renewable energy rules (80% of energy from renewables).
The Irish government supports datacentres as vital to economic innovation and denies that they create an unfair burden on consumers.
Datacentres are subject to high corporate taxes, which fund public infrastructure and programs in Ireland.
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The Federal Reserve released its first inflation report under new chief Kevin Warsh, showing consumer prices rose at their highest rate in nearly three years in April. Inflation increased mainly due to higher energy costs, posing challenges for the Fed as it considers future interest rate decisions.
Key Facts
The personal consumption expenditures (PCE) price index rose 3.8% annually in April, the highest since May 2023.
Core PCE, which excludes energy and food, increased 3.3% annually in April, matching forecasts.
Rising energy prices, partly linked to the Iran conflict, are driving higher inflation.
The Federal Reserve had previously expected to cut interest rates in 2026, but this is now less likely.
President Trump wants the Fed to lower borrowing costs to support economic growth.
Inflation increases also appeared in housing, utilities, recreation services, and food services.
There is now a 40% chance of a Fed interest rate hike in December, up from 3% in June.
The report suggests inflation pressures remain high despite slightly lower-than-expected price increases in April.
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