Borrowing costs are at their highest in nearly 20 years because investors want bigger returns due to worries about the war in Iran raising oil prices and inflation. The International Monetary Fund says global debt could reach levels last seen during World War Two, causing higher costs for loans and everyday goods.
Key Facts
Borrowing costs in big economies are at their highest in almost two decades.
Investors are avoiding government debt and asking for higher returns.
The war in Iran is causing concerns about high oil prices and inflation.
The International Monetary Fund warns global debt may approach World War Two levels.
The United States influences worldwide borrowing costs.
Higher borrowing costs mean more expensive mortgages, car loans, and credit for consumers.
Businesses face increased costs that may be passed on to shoppers.
Developing countries borrowing in dollars face increased budget pressures.
Read the Original
Want the full story? Tap a source to open the original
article.
NextEra and Dominion, two electric companies, announced they will merge. This merger will create the largest regulated electric utility in the world. The announcement comes as electricity prices have been rising across the United States.
Key Facts
NextEra and Dominion plan to merge into one company.
The new company will be the largest regulated electric utility worldwide.
Electricity prices increased by about 6.1% in April compared to last year.
The companies made the announcement through a press release on Monday.
John, the chairman, president, and CEO of NextEra, made a statement about the merger.
Read the Original
Want the full story? Tap a source to open the original
article.
Bankruptcy can sometimes protect Social Security benefits from being taken to pay debts, but this depends on the type of debt and who is trying to collect it. While some debts like credit cards and personal loans may be stopped through bankruptcy, federal student loans and tax debts have special rules that can still allow garnishment even after filing for bankruptcy.
Key Facts
Many retirees rely on Social Security as their main income but may still carry debts like credit cards and medical bills.
Social Security benefits are generally protected from garnishment but can be reduced up to 15% for certain debts.
Filing for bankruptcy triggers an automatic stay, which temporarily stops most debt collection actions.
Creditors usually cannot directly take Social Security funds if the benefits are clearly identified in a bank account.
Problems happen if Social Security funds are mixed with other money or left in accounts too long.
The federal government can offset Social Security benefits for unpaid federal student loans, even if bankruptcy is filed.
Discharging federal student loans in bankruptcy is hard and requires proving "undue hardship," but new rules may help some older borrowers.
The IRS may also take Social Security benefits to collect tax debts despite bankruptcy protections.
Read the Original
Want the full story? Tap a source to open the original
article.
A psychiatrist in Melbourne requires new patients to agree to use AI technology that transcribes conversations during their sessions. While AI transcription tools are increasingly used by doctors to help with paperwork, some patients worry about data privacy and transcription accuracy.
Key Facts
Dr. Hemlata Ranga asks new patients to consent to AI transcription before accepting them.
AI scribes have become more common; about 40% of general practitioners now use them.
If patients refuse AI transcription, they must find another psychiatrist.
The Melbourne Clinic said psychiatrists decide independently about AI use and always ask patients for permission.
Heidi AI is a popular transcription tool used in millions of sessions and claims to keep data secure.
Experts warn AI transcription can be less accurate for some groups and may risk patient privacy.
There are concerns that AI tools are mainly used to cut costs, not improve patient care.
Some patients feel pressured to accept AI use due to limited psychiatrist availability.
Read the Original
Want the full story? Tap a source to open the original
article.
A new study from Sheffield University shows that many low-income families living in rural Britain have trouble accessing affordable, healthy food due to shop closures and poor transport. These rural areas are becoming “food deserts,” where people must travel far to find fresh food, which makes living costs harder to manage.
Key Facts
Over half of households earning under £40,000 a year in rural areas struggle to find affordable fresh fruit and vegetables.
52.5% of low-income rural households live more than 20 minutes’ walk from the nearest shop selling fresh produce, compared to just 7% in poor urban areas.
Food insecurity means people cannot regularly get nutritious food due to lack of money or nearby shops.
Rural food deserts exist despite these areas being central to the UK’s food production.
Factors like high food prices, rising energy costs, fewer village shops, and poor public transport make the problem worse.
Some urban edge and coastal communities also face food deserts, with local campaigns for supermarkets often unsuccessful.
The study surveyed over 14,000 households across England and Scotland with incomes below £40,000.
It recommends a national review to identify food-poor areas and suggests support for low-cost food options like food clubs and social supermarkets.
Read the Original
Want the full story? Tap a source to open the original
article.
This article highlights special Memorial Day sales on various products, focusing on good discounts for quality items that can be used during summer. It lists several recommended products, showing their discounted prices and features.
Key Facts
Memorial Day is both a holiday to honor fallen US military personnel and a major shopping event with many sales.
The article features discounts on summer-related products like fans, earbuds, drink makers, running belts, and tripods.
The Levoit Tower Fan is on sale for $54.96, down from $74.99, and offers quiet airflow with a remote holder.
Beats Powerbeats Fit Earbuds are discounted to around $169.99 from about $199.99 and are praised for staying in place during workouts.
The Ninja Slushi Drink Maker is available at $259.99, reduced from $349.99–$369.99, and can make frozen drinks using preset modes.
FlipBelt running belts cost $21.75, half off from $39, and provide a secure, bounce-free way to carry essentials while exercising.
The Eucos Phone Tripod is discounted to $19.99 from $29 and serves as a portable stand for phones.
These sales offer shoppers a chance to save on tested and recommended items for summer activities.
Read the Original
Want the full story? Tap a source to open the original
article.
LIV Golf, a new professional golf league funded mostly by Saudi Arabia's Public Investment Fund (PIF), plans to raise up to $250 million from new investors after losing support from PIF. The league aims to become profitable within about 20 months and reduce its reliance on Saudi funding by seeking private investment.
Key Facts
LIV Golf was started in 2022, mainly financed by Saudi Arabia's PIF, which owns most of the league and teams.
The league tried but failed to merge with the established PGA Tour.
LIV Golf is now asking investors for up to $250 million to continue operating.
Investors could provide less money, about $150 million, while relying on rising team values and media deals.
The league’s fundraising plan has been reviewed by new board members and a restructuring firm.
LIV Golf faces a deadline to secure investment by early October or may need short-term financing.
Potential investors include private equity firms, wealthy individuals, and family offices.
Saudi Arabia’s initial backing was both to diversify its economy and improve its image, but it also discouraged some sponsors and fans.
LIV Golf hopes to succeed based on its own value without heavy Saudi involvement.
Read the Original
Want the full story? Tap a source to open the original
article.
Mortgage interest rates have gone up since early spring 2026 due to factors like rising oil prices and inflation caused by overseas conflicts. As of May 18, 2026, the average rate for a 30-year mortgage is 6.49%, and for a 15-year mortgage, it is 6%, both higher than rates in March but still lower than rates seen in 2023.
Key Facts
The average 30-year mortgage rate is 6.49% as of May 18, 2026.
The average 15-year mortgage rate is 6.00% as of the same date.
Rates have increased by about half a percentage point since early March 2026.
Rising oil prices and inflation influenced by overseas conflicts have contributed to higher rates.
The Federal Reserve has kept its main interest rate steady after cutting it in December 2025.
Refinancing rates are higher too: 6.79% for 30-year and 5.91% for 15-year refinances.
Borrowers with good credit might find better rates by shopping around online.
Closing costs for refinancing can reduce potential savings from lower rates or shorter loan terms.
Read the Original
Want the full story? Tap a source to open the original
article.
Iran’s stock market will reopen this week after being closed for 80 days due to the recent war with the United States and Israel. The reopening aims to help assess the country’s economic situation, investor confidence, and market activity despite ongoing sanctions and economic challenges.
Key Facts
The Tehran Stock Exchange was closed on February 28 following missile attacks by the US and Israel.
Trading will resume for shares, equity funds, and related financial products on Tuesday and Wednesday before the Iranian weekend.
Market hours will be extended by one hour to allow major firms to release important information about war impacts and shareholder meetings.
The closure was intended to protect investors and reduce rushed selling but caused trapped investments and reduced market trust.
Before closure, the main index TEDPIX fell from a peak of nearly 4.5 million points to about 3.7 million points due to protests, internet shutdown, and war fears.
Many Iranians prefer holding savings in foreign currency, gold, or real estate rather than investing in the stock market.
Iran's economy faces high inflation and sanctions, with the Central Bank printing money to cover budget shortfalls, worsening inflation.
Firms will be classified into three groups based on the war’s impact for disclosure: directly damaged, indirectly affected, and affected by general conditions.
Read the Original
Want the full story? Tap a source to open the original
article.
Stanford economist Mordecai Kurz argues in his new book that the U.S. is experiencing a strong concentration of technological and economic power in the hands of a few big companies and billionaires. This accumulation of power is harming democracy and making it harder for ordinary people to compete or influence politics.
Key Facts
Mordecai Kurz links monopoly power to political and economic inequality in the U.S.
His book, *Private Power and Democracy’s Decline*, was published on May 19.
Historically, wealthy industrialists justified their power by claiming natural superiority, a trend continuing today with tech leaders.
New Deal reforms reduced monopoly control and helped economic growth and fair income distribution for about 50 years.
Since the Reagan era, monopoly power has grown again, causing wage stagnation and rising living costs for many workers.
Tech companies now often cooperate instead of compete, with startups aiming to be bought by giants.
Big tech influences politics through lobbying and uses social media platforms that can spread misinformation, affecting democracy.
Kurz warns unregulated AI could cause more job losses across many professions, increasing social frustration.
Read the Original
Want the full story? Tap a source to open the original
article.
Ford’s European president, Jim Baumbick, hinted that the popular Ford Fiesta, discontinued in 2023, may return as an electric car. Ford plans to launch seven new models in Europe, including electric and hybrid vehicles, focusing again on affordable cars for the mass market.
Key Facts
The Ford Fiesta was discontinued in 2023 after 47 years in production.
Jim Baumbick, Ford’s president in Europe, suggested the Fiesta name might return in an electric version.
Ford plans to introduce seven new models in Europe, including three fully electric vehicles.
The new electric models will include a hatchback, a small SUV, and an electric van called the Transit City.
Other vehicles will be "multi-energy," meaning they may use hybrid powertrains with both electric and gasoline engines.
Ford is shifting back to making affordable cars after previously focusing on more expensive models.
The company aims to compete with Chinese car makers who have gained market share in Europe.
Ford is asking European regulators to support a mix of electric and hybrid technologies as a practical step toward full electrification.
Read the Original
Want the full story? Tap a source to open the original
article.
On May 18, a new limited edition Swatch watch caused big crowds and disorder in cities across Europe and in New York. The watch, called "Royal Pop," was made together with the luxury brand Audemars Piguet, leading many people to wait for hours or days to buy it.
Key Facts
The launched watch is a limited edition called "Royal Pop."
It is a collaboration between Swatch and luxury watchmaker Audemars Piguet.
The release happened on May 18, 2026.
Large crowds gathered in several European cities and New York City.
In Paris, French police used tear gas to control the chaos at one store.
People waited overnight and sometimes for several days to buy the watch.
The event showed strong demand for this special edition watch.
The situation caused a consumer frenzy both in Europe and the US.
Read the Original
Want the full story? Tap a source to open the original
article.
NextEra Energy announced it will buy Dominion Energy in a deal worth about $67 billion. The new company will provide electricity to around 10 million customers in four U.S. states.
Key Facts
NextEra Energy is acquiring Dominion Energy entirely through a stock deal.
The deal is valued at approximately $67 billion.
The combined company will serve customers in Florida, Virginia, North Carolina, and South Carolina.
The acquisition comes as demand for electricity rises due to AI and data centers.
Together, the utilities will cover about 10 million electricity customers.
The agreement was announced on a Monday.
The story is ongoing and updates may follow.
Read the Original
Want the full story? Tap a source to open the original
article.
A survey shows that rising prices are now the biggest money worry for UK households, with many feeling more negative about their financial situation. The high cost of energy and other living expenses is reducing savings and causing concerns about future interest rate increases.
Key Facts
A monthly survey from S&P Global found that consumer confidence in the UK dropped to its lowest level since July 2023.
The survey covers feelings about spending, financial health, savings, debt, and jobs.
Household savings fell significantly in May, the fastest decline since July 2023.
High energy prices and living costs are strongly affecting household budgets.
Over half of the people surveyed (51%) expect interest rates to rise soon, the highest level in two and a half years.
The Bank of England may raise borrowing costs if oil prices stay high, and they warn energy bills could rise 16% by summer.
UK inflation was 3.3% in March and is expected to drop slightly to 3% in April, but this is still above the 2% target.
Job insecurity is at its highest point since March 2023, and people are cautious about making large purchases, which may slow economic growth.
Read the Original
Want the full story? Tap a source to open the original
article.
NextEra Energy and Dominion Energy plan to merge, creating the largest electric utility company in the world by market value. The combined company would serve about 10 million customers across several states and focus on expanding renewable energy and battery storage.
Key Facts
NextEra Energy and Dominion Energy announced an all-stock merger deal.
If approved, the new company would be the largest regulated electric utility by market capitalization.
The merged firm would serve customers in Florida, Virginia, North Carolina, and South Carolina.
It would own 110 gigawatts of power generation from various sources, including renewables, natural gas, and nuclear.
The company would be the biggest in renewables and battery storage globally, leading U.S. power generation overall.
NextEra has a market value of $195 billion, while Dominion’s is $54 billion.
The merger responds to rising U.S. electricity demand caused by AI growth, manufacturing shifts, and electric vehicle use.
The companies plan $2.25 billion in electric bill credits for Dominion customers over two years.
The deal could take 12 to 18 months to close and may face legal and regulatory reviews.
Read the Original
Want the full story? Tap a source to open the original
article.
The article says that renewable energy sources offer a safer and more independent way for the U.S. to manage its energy needs. It suggests that rural areas should take the lead in developing clean energy technologies.
Key Facts
Oil and gas prices are influenced by global markets.
Coal and nuclear power create harmful waste.
Renewable energy sources do not produce dangerous waste.
Using renewable energy can help the U.S. become energy independent.
The concept of “America First” is linked to prioritizing domestic energy sources.
Rural America is seen as key to advancing clean energy technology.
Clean energy includes sources like wind, solar, and bioenergy.
Read the Original
Want the full story? Tap a source to open the original
article.
Several products sold at big stores like Costco, Amazon, and Target have been recalled because they can cause serious injuries or death. The U.S. Consumer Product Safety Commission warns people to stop using these items and follow instructions to get repairs or refunds.
Key Facts
About 18,500 patio swings sold at Costco were recalled after reports of the seat detaching, causing injuries.
Around 200 pool drain covers sold on Amazon were recalled because they do not meet safety standards and can lead to drowning risks.
Over 16,000 electric-start pressure washers from Generac and DR Power were recalled due to a button malfunction that can cause the machine to start by itself, risking carbon monoxide poisoning.
The recalled patio swing was sold between February and March 2026 for $549–$649.
Pool drain covers were sold from September 2025 to March 2026 for about $15.
Pressure washers were sold from November 2021 to February 2026 for about $500–$590.
Consumers are urged to stop using these products immediately and contact the manufacturers for free repairs or refunds.
Some of the recalled products have caused injuries, including falls and head injuries, while others have not yet caused reported injuries but still pose serious risks.
Read the Original
Want the full story? Tap a source to open the original
article.
The International Monetary Fund (IMF) has advised the UK government to continue cutting its borrowing despite political uncertainty around Labour leader Keir Starmer. The IMF praised Chancellor Rachel Reeves for balancing deficit reduction with growth and raised the UK’s economic growth forecast for 2026.
Key Facts
The IMF recommends that the UK keeps reducing its budget deficit due to market concerns and risks.
Chancellor Rachel Reeves was praised for managing a balance between reducing deficit and supporting growth.
The IMF upgraded the UK’s growth forecast for 2026 from 0.8% to 1%.
Concerns exist that Labour leadership challenges could lead to increased government borrowing.
Andy Burnham, a potential Labour leader, had criticized borrowing but later showed support for current fiscal rules.
UK government bond interest rates recently rose to their highest since 1998 before falling slightly.
The IMF highlighted risks to the UK economy due to domestic uncertainty and global market volatility.
Rising borrowing costs increase the UK government’s interest bill, which already uses about 10% of spending.
Read the Original
Want the full story? Tap a source to open the original
article.
The International Monetary Fund (IMF) has improved its forecast for the UK economy in 2026, predicting 1% growth instead of 0.8%. However, the IMF warns that ongoing conflicts in Iran and uncertainties within the UK could slow economic progress and lead to higher prices for energy and food.
Key Facts
The IMF raised the UK growth forecast for 2026 from 0.8% to 1%.
The UK faces risks from the war in Iran, which may cause higher energy and food prices.
Domestic uncertainty in the UK could reduce consumer spending and business investment.
The UK economy grew by 0.6% in the first quarter of the year, helped by better retail and construction sectors.
Inflation is expected to rise temporarily due to higher energy costs.
The IMF suggests the UK’s central bank does not need to raise interest rates further this year.
Chancellor Rachel Reeves said the upgrade shows the government’s economic plan is working.
The IMF recommends targeted and limited financial support to help households with energy costs.
Long-term financial challenges include spending on aging populations, defense, and climate changes, requiring careful budgeting or tax reforms.
Read the Original
Want the full story? Tap a source to open the original
article.
President Trump’s immigration policies have led many undocumented immigrants to avoid filing taxes out of fear of enforcement. Experts say this drop in tax filing could cause the US government to lose up to $479 billion in tax revenue over the next ten years.
Key Facts
New immigration enforcement policies have made many undocumented immigrants afraid to file taxes.
The IRS planned to share undocumented immigrants’ tax data with immigration authorities, but a judge paused this agreement.
Undocumented immigrant parents lost eligibility for the child tax credit in 2025, even if their children are US citizens.
About half of undocumented immigrant households usually file tax returns and paid nearly $97 billion in taxes in 2022.
Many undocumented immigrants pay taxes despite not qualifying for most tax benefits, often paying a higher share of their income.
Tax advisers report a large drop in undocumented clients filing taxes this year due to fear of deportation.
Yale’s Budget Lab estimates the government could lose between $147 billion and $479 billion in tax revenue over 10 years due to these changes.
As many as 2.7 million US citizen or legal resident children might lose access to the child tax credit because of the policy changes.
Read the Original
Want the full story? Tap a source to open the original
article.
