A U.S. trade court ruled that a 10% global tariff imposed by President Trump under a specific law was unlawful and harmful to businesses. This court decision limits the White House’s ability to impose these tariffs, but most businesses still have to pay the tariff while the administration considers its next steps.
Key Facts
The Court of International Trade ruled against tariffs imposed under Section 122 of the Trade Act of 1974.
The tariffs were a 10% duty on imports, introduced by President Trump in February.
The court found the tariffs unlawful and damaging to businesses, based on a lawsuit from 24 states and companies.
This ruling is narrow and only directly affects some plaintiffs, not all businesses.
Businesses must continue paying the 10% tariff for now, as the ruling does not change the tariff rate immediately.
The Trump administration plans to appeal the court decision.
Importers may track tariffs paid to claim refunds if the ruling expands or changes.
The 10% tariff under Section 122 was meant to be temporary, lasting 150 days, and the administration is using other trade laws to investigate unfair trade practices.
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Mortgage interest rates have changed a lot in early 2026, making it important to pick the right mortgage lender. Different lenders, like banks, credit unions, and online companies, offer various benefits depending on personal finances. The article lists top mortgage lenders, highlighting their strengths and who they best serve.
Key Facts
Mortgage rates dropped below 6% in March, then rose above 6% after the Federal Reserve meeting in April 2026.
Choosing the right lender can save or cost tens of thousands of dollars over a mortgage’s lifetime.
Banks might give discounts to loyal customers; credit unions pass savings to members; digital lenders offer fast service with less overhead.
Rocket Mortgage is noted for easy online processing but may charge higher interest rates.
Guild Mortgage helps self-employed or non-traditional income borrowers with flexible loan options.
Other lenders listed include PenFed Credit Union for competitive rates, loanDepot for lower credit scores, and Better Mortgage for budget-conscious borrowers.
Mortgage lenders offer various loan types such as conventional, jumbo, FHA, VA, and USDA loans.
Understanding your financial situation helps decide which lender and loan terms fit best.
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The IRS requires people with tax-deferred retirement accounts like 401(k)s or traditional IRAs to start withdrawing a certain minimum amount each year after age 73. The required amount depends on their account balance and life expectancy, and it generally increases with age.
Key Facts
Required minimum distributions (RMDs) must begin at age 73 for most tax-deferred retirement accounts.
The RMD is calculated by dividing the account balance by a life expectancy factor from the IRS Uniform Lifetime Table.
For a $300,000 account, the RMDs start at about $11,320 at age 73 and increase to about $14,218 by age 79.
The life expectancy factor decreases as you get older, so the amount you must withdraw goes up.
You must pay taxes on the money you withdraw through RMDs.
Diversifying your retirement portfolio can help manage risks, with gold suggested as one option because it historically holds value during inflation.
Gold should be a small part of your portfolio, typically no more than 10%.
Various types of gold investments are available, including bullion, stocks, and gold IRAs.
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Star Wars actor Mark Hamill shared and then deleted an AI-generated image showing President Donald Trump in a shallow grave. The White House condemned Hamill’s post, and the incident has caused controversy around Disney, which owns the Star Wars franchise, just weeks before the release of a new Star Wars movie.
Key Facts
Mark Hamill posted an AI image showing President Trump in a shallow grave with the message “if only.”
Hamill later deleted the image and apologized, saying he wished Trump the opposite of dead.
The White House called Hamill “one sick individual” and criticized the post publicly.
Conservative activists have used the incident to criticize Hollywood and called for a boycott of Disney’s upcoming Star Wars release.
Hamill is not in the new Star Wars film but is closely linked to the franchise because of his long history with the character Luke Skywalker.
The new Star Wars movie, The Mandalorian and Grogu, will open on May 22, its first theatrical release since 2019.
Industry experts predict the film may have the lowest domestic opening weekend for a new live-action Star Wars movie.
Disney is facing repeated controversies that affect how audiences view its movies and brand.
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Large U.S. companies, including Amazon, are choosing not to ask for refunds on tariffs they paid by mistake. They appear worried that claiming the refunds might upset President Donald Trump and lead to bigger financial losses.
Key Facts
Some big U.S. companies were charged tariffs by mistake.
These companies can ask for refunds of the wrongfully collected money.
Amazon is one of the companies not claiming its refund.
Companies fear that seeking refunds might anger President Donald Trump.
They think staying quiet could save them more money than the refunds.
This shows how companies are cautious about government relations in business.
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The UK government will take back control of the train operator Great Western Railway (GWR) on December 13. This change means the railway will be publicly owned and managed by the new Great British Railways organization, focusing on passengers rather than shareholders.
Key Facts
Great Western Railway runs trains between London, the south-west of England, and South Wales.
GWR will return to public ownership on December 13.
The government says this will put passengers first instead of shareholders.
The new operator will be part of Great British Railways.
Other train services in Wales and Scotland are already publicly owned.
GWR has operated in the south-west since 1833.
The announcement was welcomed by local leaders who want more frequent trains.
The Transport Secretary said fares might not drop, but services and infrastructure should improve.
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This article compares how much interest a $100,000 deposit can earn in three types of accounts: certificates of deposit (CDs), high-yield savings accounts, and money market accounts. It explains that CDs offer a fixed interest rate and generally give the highest guaranteed return right now, while the other accounts have variable rates that can change over time.
Key Facts
A $100,000 investment can be placed in different accounts to earn interest safely.
CDs have fixed interest rates that do not change until the account matures.
High-yield savings and money market accounts have variable rates that can go up or down.
Current top rates are about 4.10% for CDs, 4.03% for high-yield savings, and 3.90% for money market accounts.
For six months, a CD at 4.10% earns about $2,029 in interest compared to $1,995 in savings and $1,931 in money market accounts.
For one year, a CD at 4.10% earns about $4,100, more than the savings or money market accounts.
CDs charge penalties if money is withdrawn before maturity, so savers should be confident they won’t need the funds early.
Variable rate accounts might be better if interest rates increase in the future, since their rates can rise.
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UK government borrowing costs went down and the British pound rose after Keir Starmer said he will stay on as prime minister. Investors felt less worried about political instability because Labour’s losses in recent local elections were smaller than expected.
Key Facts
UK borrowing costs (interest rates on government bonds) fell after Starmer’s statement.
The yield on 10-year UK government bonds dropped to 4.89%, down 0.05 percentage points.
Thirty-year bond yields also decreased to 5.56%, their lowest in over two weeks.
The British pound increased in value against the US dollar and the euro.
Markets had feared a leadership challenge to Starmer could increase government spending and borrowing.
Investors worried that a new leader might raise taxes and borrow more to pay for spending.
Analysts say any new leader would face the same economic challenges due to current fiscal limits.
Experts believe removing Starmer and Chancellor Rachel Reeves could lead to higher interest rates and borrowing costs.
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Several well-known actors from past decades are joining OnlyFans, a subscription website often used for adult content. This shift shows how some actors face fewer job chances in traditional media and are turning to platforms where they control their work and earnings.
Key Facts
Jaime Pressly and Shannon Elizabeth, actresses popular in the 1990s and 2000s, have started OnlyFans accounts.
OnlyFans allows creators to share content directly with fans, without relying on traditional industry gatekeepers like studios and casting agents.
The entertainment industry has changed from TV and magazine deals to streaming and online subscriptions, reducing steady roles for some actors.
OnlyFans appeals to these actors by giving them control over when and how much they work and what content they share.
Other celebrities who joined OnlyFans include Denise Richards, Drea de Matteo, Carmen Electra, and Bella Thorne.
The platform provides a new way for female performers, often valued for youth and beauty in Hollywood and then overlooked, to keep earning and connect with audiences.
Experts say OnlyFans shifts control from the industry to the creators, allowing them to manage their public image and income directly.
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Homeowners insurance costs in the U.S. rose 64% from 2021 to 2025, driven by more natural disasters and higher repair costs. States like Arizona, Idaho, and Louisiana saw the biggest increases, making it harder for many Americans to afford homeownership.
Key Facts
The average annual homeowners insurance premium grew from $1,597 in 2021 to $2,625 in 2025.
Arizona experienced the highest increase, with premiums growing 94% over five years.
Other states with large rises include Idaho (88%), Iowa (83%), South Dakota (83%), Utah (82%), Minnesota (82%), Washington (81%), Louisiana (80%), and Colorado (80%).
Even the smallest increase was significant; Alaska saw a 27% rise in premiums.
Louisiana had the highest average premium at $4,238 per year, followed by Florida ($4,060) and Texas ($3,952).
Experts predict premiums will rise another 4% to about $3,057 nationwide in 2024.
Rising premiums increase monthly mortgage costs and can force insurers to reduce coverage or cancel policies.
The Justice Department filed a brief supporting a case accusing insurers in California of canceling fire coverage to push customers onto a state-run insurance plan.
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CBS Mornings Deals offers special discounts on various products that could be useful in daily life. People can visit cbsdeals.com to find and buy these items while CBS earns a commission from the sales.
Key Facts
CBS Mornings Deals promotes exclusive discounts on different products.
The items are chosen to be helpful for everyday use.
Customers can access these deals at the website cbsdeals.com.
CBS earns money when people buy products through its deals website.
The promotion is part of CBS News and is visible in their app and website.
The article encourages viewers to take advantage of the current deals.
The promotion works through web browsers like Chrome and Safari.
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A study by Realtor.com shows that newly built homes in U.S. city centers are rare and cost much more than existing homes there. In some cities like Miami, the price difference can be more than four times higher for new urban homes compared to older ones.
Key Facts
New homes in urban areas are priced about 78% higher than existing urban homes nationwide.
Only about 10% of new homes for sale are in city ZIP codes; most new homes (around 80%) are in suburbs.
Miami metro area has the biggest price gap, with new urban homes costing 462% more than existing ones.
Other cities with high new-home price premiums include Tampa, Orlando, St. Louis, Detroit, Chicago, Cincinnati, New York, and Raleigh.
The shortage of new homes in cities is due to high demand and limited supply.
Stuart Miller, CEO of a major home builder, says years of underbuilding have created a housing shortage.
Some areas, like Cape Coral-Fort Myers, even have new homes priced lower than existing ones.
Overall, the data highlights a need for more new homes in urban locations to meet demand.
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Federal Reserve Chair Jerome Powell said that recent global supply problems have made it harder to reduce inflation. These shocks have slowed down progress in making prices more stable.
Key Facts
Jerome Powell is the leader of the Federal Reserve, the U.S. central bank.
He noted recent global supply disruptions have impacted inflation control.
Supply shocks mean sudden problems in getting goods or materials.
These problems have slowed efforts to lower rising prices.
Inflation is the general increase in prices of goods and services.
The Fed aims to keep inflation low and stable.
Global supply issues can come from events like the pandemic, conflicts, or natural disasters.
The statement highlights challenges in the U.S. economy related to worldwide events.
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The housing market in Jersey is showing signs of slowing down because of global uncertainty from the conflict in the Middle East. House prices have dropped, and people are rushing to get mortgage deals before expected interest rate increases by the Bank of England.
Key Facts
Average house prices in Jersey fell by 5% in the first quarter of 2026 compared to the same period in 2025.
The Middle East conflict has caused global uncertainty impacting Jersey’s housing market.
Mortgage applications increased from about 20 per month in 2025 to 50 per month at the start of 2026.
People are nervous about possible Bank of England base rate increases, which could rise by 1.5% later this year.
Mortgage approvals are taking longer, causing delays in home sales that typically take 6-8 weeks.
The average three-bedroom house in Jersey costs around £695,000, far above what most locals can afford.
Middle-income earners in Jersey have lost tax breaks and mortgage relief, making it harder to buy homes.
Experts suggest politicians should try to support the housing market to help the economy by encouraging more spending and property buying.
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Mortgage interest rates have increased since early 2026, with the average 30-year rate at 6.37% and the 15-year rate at 5.75% as of May 8, 2026. Rates for refinancing are also higher but may still benefit some homeowners looking to lower payments or shorten loan terms.
Key Facts
The average 30-year mortgage rate is 6.37% as of May 8, 2026.
The average 15-year mortgage rate is 5.75% as of the same date.
These rates are about half a percentage point higher than in early March 2026.
The average 30-year mortgage refinance rate is 6.60%.
The median refinance rate for a 15-year term is 5.67%.
Rates briefly dropped below 6% in April before rising again after a Federal Reserve meeting.
Potential changes in inflation data may affect mortgage rates later in May.
Refinancing can be beneficial for some borrowers, especially if their current rates are above these averages, but closing costs and how long they plan to stay in the home matter.
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A study found that, on average, Americans need to earn about $120,000 per year to afford a home, which is much higher than the current median household income of $81,604. The research looked at 200 large metro areas and found large differences in affordability depending on location.
Key Facts
The average monthly cost of owning a home in the U.S. is around $2,819.
To afford this, an annual income of $120,796 is needed, assuming a 10% downpayment.
The national median household income is $81,604, which is almost 50% less than what is needed.
Affordability is measured by the 28/36 rule, meaning spending no more than 28% of gross income on housing.
Median incomes last fully matched homeownership costs nationwide in 2015.
The most affordable metro is Huntington, West Virginia, where $53,650 yearly income is needed.
The least affordable metros are mostly in California, with San Jose requiring over $500,000 annual income.
Other expensive metros include San Francisco, Los Angeles, and Honolulu, where incomes required far exceed the median household earnings.
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Kim Kardashian wore a unique orange fibreglass breastplate to the Met Gala, created by a small London design team called Whitaker Malem in partnership with artist Allen Jones and visual artist Nadia Lee Cohen. The breastplate was made using a mould from Jones’s 1969 sculpture and finished by a car bodyshop in Kent.
Key Facts
Kim Kardashian chose to wear a breastplate for the Met Gala, interpreting the event’s “fashion is art” theme.
The breastplate was made by Whitaker Malem, a small East London design duo, with help from artist Allen Jones and Nadia Lee Cohen.
The design was based on a 1969 sculpture by Allen Jones called Hatstand, which was not originally meant to be wearable.
Kardashian directly contacted Whitaker Malem to make the breastplate and participated in video calls and fitting sessions.
The breastplate fit Kardashian well, which was unusual since the sculpture wasn’t designed for wearing.
The final orange finish was sprayed by Martyn Smith at MPS Body and Paint, a car bodyshop in Kent.
The project took place over a few weeks leading up to the Met Gala event.
Kardashian attended the event with Allen Jones, who is known for his controversial fetishistic art.
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Several snack mixes sold in stores like Target have been recalled because they may contain salmonella, a type of bacteria that can cause food poisoning. People who bought these snack mixes are advised not to eat them and should return them to the store for a refund.
Key Facts
Snack mixes sold at stores including Target are being recalled.
The recall is due to concerns about salmonella contamination.
Salmonella can cause food poisoning with symptoms like stomach pain, fever, and diarrhea.
Consumers who bought these products should avoid eating them.
Customers can return the recalled snack mixes to the store for a refund.
The recall is a safety measure to prevent illness.
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The average price of gasoline in the United States has risen to $4.55 per gallon. This price increase is partly linked to the conflict involving Iran and is affecting how people spend their money.
Key Facts
Gasoline in the U.S. now costs about $4.55 per gallon on average.
Gas prices have increased by over 50% since the conflict with Iran started.
Higher gas prices lead consumers to change their spending habits.
The information comes from CBS News and business analyst Jill Schlesinger.
The rise in gas costs can impact overall household budgets and the economy.
The war with Iran is a key factor mentioned as causing the gas price increase.
CBS News provides updates and explanations about this issue through its app and online.
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