A $50,000 1-year certificate of deposit (CD) opened in August could earn between about $2,085 and $2,200 in interest, depending on the bank’s rate. These CD returns are higher than what most traditional savings accounts offer right now, which pay around 0.38% interest and would earn only about $190 on the same deposit over a year.
Key Facts
The best 1-year CD rates this August range from 4.17% to 4.40% annual percentage yield (APY).
A $50,000 deposit in a CD at 4.40% APY earns $2,200 in interest after one year.
The smallest CD rate on the list, 4.17%, still pays $2,085 in interest on $50,000 over a year.
Traditional savings accounts pay about 0.38% APY on average, which would earn roughly $190 on $50,000 in the same period.
The interest earned from CDs is guaranteed as long as no early withdrawal penalties apply.
Savings accounts offer more liquidity, allowing access to funds without penalties, but usually with lower interest rates.
CD rates can change if the Federal Reserve adjusts borrowing costs, but locking in a CD now secures the current rate for one year.
High-yield savings accounts may offer rates closer to CDs but come with variable rates that can change if the Fed adjusts interest rates.
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Paramount’s CEO David Ellison said the lawsuit against the merger between Paramount Skydance and Warner Bros Discovery is not about competition but political concerns regarding his control over CNN. The merger, worth $111 billion, faces legal challenges in California, with court proceedings delayed until trial, possibly as late as 2027.
Key Facts
David Ellison is the CEO of Paramount and son of tech billionaire Larry Ellison.
Paramount Skydance and Warner Bros Discovery agreed on a $111 billion merger.
The merger has been approved by regulators in 65 countries, including the U.S.
A 12-state coalition and writers’ guilds have sued to block the merger on anti-competition grounds.
Ellison believes opposition is due to fears about his political influence over CNN, not market competition.
Ellison says he supports journalistic independence and that newsrooms should report facts without bias.
The court in California has temporarily blocked the merger, delaying it until trial, possibly in 2027.
After the merger, Ellison appointed Bari Weiss to lead CBS News, causing controversy and layoffs.
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Sales of poetry books in the UK are rising sharply in 2026, helped by Christopher Nolan’s popular movie adaptation of Homer’s The Odyssey. Poetry sales have already passed £8 million this year and could reach a record £17 million if the trend continues.
Key Facts
UK poetry sales increased by 13.3% in the first 30 weeks of 2026 compared to the same time in 2025.
Annual poetry sales are expected to top £15 million for the first time since records began, possibly reaching £17 million.
The Odyssey’s UK print sales rose by 1,400% in the four weeks after Nolan’s film release in July 2026.
Editions of The Odyssey and The Iliad made £980,000 of poetry sales this year, about 12% of all poetry book sales.
Nolan’s film earned $264 million (£198 million) worldwide in its opening weekend, his best ever.
US sales of The Odyssey print editions increased by 76% in 2026 according to sales data.
The poetry market was growing before Nolan’s movie, helped by social media poets like Rupi Kaur who brought poetry to wider audiences.
The Odyssey’s 2017 translation by Emily Wilson is the main version selling well, though Wilson criticized the movie for lacking depth.
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Oil prices dropped to their lowest in three weeks after U.S. officials said talks with Iran might soon reopen the Strait of Hormuz, a key shipping route. This waterway is important because it handles a large part of the world’s oil supply, and its closure has caused fuel prices to rise.
Key Facts
Oil prices fell nearly 5% to below $80 per barrel for Brent crude and about 5% to $76 for U.S. West Texas Intermediate.
U.S. Secretary of State Marco Rubio and Treasury Secretary Scott Bessent reported progress in talks with Iran to reopen the Strait of Hormuz.
The Strait of Hormuz is a narrow passage that handles about one-fifth of the world’s daily oil and gas shipments.
Discussions may lead to an agreement within days, potentially allowing ships to move freely through the area again.
Previous talks have failed to ease tensions between the U.S. and Iran, causing unstable oil prices and higher fuel costs.
No details have been shared yet about what the agreement might include or if Iran would charge fees for passage.
The Strait of Hormuz has been a central focus in the conflict between the U.S. and Iran since February.
Reopening the waterway would help stabilize global oil supplies and prices.
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Creditors can freeze your savings account to recover unpaid debts, but only after winning a court judgment. Some types of money, like Social Security benefits, are often protected by law and cannot be taken.
Key Facts
Creditors usually must sue and get a court judgment before freezing your bank accounts.
A bank levy allows creditors to freeze and take money from your accounts to pay debts.
Savings accounts can be frozen, not just checking accounts, if a judgment is entered.
Certain federal and state laws protect some funds, such as Social Security payments.
Different types of creditors (government vs. private) have different collection powers.
You can sometimes challenge a levy or negotiate payments after being notified.
Acting quickly is important, as there are short deadlines to respond.
Debt relief options, like consolidation loans, may help avoid account freezes if used early.
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A recent survey found that nearly one in four Americans believe CEOs are too greedy. The survey looked at what people think about company leaders and the growing gap between the very rich and everyone else.
Key Facts
About 25% of Americans say CEOs are too greedy.
The survey focused on people's views of CEOs and extreme wealth.
It shows concerns about the concentration of wealth among the richest individuals.
The findings were shared by CBS News contributor Javier E. David.
The survey reflects public opinion on business leadership and economic inequality.
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The article discusses the upcoming jobs report for July from the U.S. Bureau of Labor Statistics. It features insights from CBS News business analyst Jill Schlesinger about the current state of the U.S. economy.
Key Facts
The U.S. Bureau of Labor Statistics will release the July jobs report soon.
The report will provide information on employment numbers and job market trends.
Jill Schlesinger, a business analyst, shares her views on what the report may show.
The jobs report helps understand how the U.S. economy is performing.
The report’s findings can influence economic decisions and policies.
CBS News covers this event and offers analysis for viewers.
The segment is sponsored by AT&T Business.
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Divorce can reduce household income and increase expenses, making it harder to pay off debts. While divorce alone does not qualify someone for debt forgiveness, lenders and creditors may offer help if financial hardship after divorce makes paying debts difficult.
Key Facts
Divorce often lowers income and raises costs like legal fees and support payments.
High overall debt and rising interest rates can make debt harder to manage after divorce.
Creditors may forgive some debt if a borrower shows genuine financial hardship but won’t do so just because of divorce.
Credit card companies might settle for less than the full amount owed if payments are missed.
Healthcare providers may offer reduced medical bills or hardship programs after income changes from divorce.
Private student loan forgiveness is rare, but some hardship options exist; federal student loans have separate programs.
Collection agencies may accept smaller payoff amounts if full payment is unlikely due to changed finances.
Divorce agreements don’t always change legal responsibility for debts, so it’s important to address joint debts quickly.
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A new report shows that companies building data centers in parts of Virginia are paying very high prices for land. This is making it harder for homebuilders to buy land for new houses, which adds to the shortage of affordable housing in the U.S.
Key Facts
Data center developers are outbidding homebuilders for land, paying "impossible prices."
Northern Virginia has over 300 data centers, the highest concentration in the U.S.
SDC Capital paid $615 million for 97 acres in Loudoun County, about $6.3 million per acre.
Microsoft spent $465.5 million for 124 acres in Prince William County to build data centers.
Amazon bought 120 acres of university land in Ashburn for $427 million to build a data center.
There are over 1,500 new data centers in development nationwide, according to Pew Research Center.
The U.S. faces a shortage of 4 to 10 million homes, causing a housing affordability crisis.
Experts say competition for land between data centers and homebuilders is making housing shortages worse.
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The war around Iran has disrupted oil supply routes, causing oil prices to rise worldwide. Major oil companies like ExxonMobil, Chevron, Shell, BP, and Saudi Aramco have earned record profits in the past quarter due to higher oil prices and increased demand outside the conflict area.
Key Facts
The Strait of Hormuz closure reduced oil flows, pushing global oil prices higher.
ExxonMobil earned $14.7 billion in adjusted profits in the latest quarter.
Chevron made $12 billion, its highest quarterly profit in six years.
Shell nearly doubled its earnings to about $10 billion amid rising oil and gas prices.
BP’s profit more than doubled to $5.73 billion compared to the previous year.
Saudi Aramco’s earnings rose by 44% to $32.69 billion.
Higher refining margins also boosted profits for companies with refining operations, especially outside the Middle East.
Global benchmark oil prices averaged $96.68 per barrel in the second half of 2026, up from $66.71 in the second quarter of 2025.
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David Ellison, a media executive, defended Paramount’s plan to buy Warner Brothers Discovery. He also addressed concerns that he might cause political bias in his media companies.
Key Facts
David Ellison supports Paramount's offer to acquire Warner Brothers Discovery.
He wrote an opinion article in the New York Times about this topic.
Ellison said he would avoid influencing matters that involve his own company.
There are accusations that he could introduce political bias in the media outlets he controls.
Ellison argues he can be trusted to manage CNN fairly if the merger happens.
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CBS Mornings Deals offers special discounts on products that can help improve daily life. Customers can visit cbsdeals.com to find and buy these discounted items, and CBS earns a commission when purchases are made through the site.
Key Facts
CBS Mornings Deals features products with special discounts.
The deals aim to improve everyday lifestyle.
Shoppers can access the deals by visiting cbsdeals.com.
CBS earns money from commissions when people buy through the website.
The promotions are shown during the CBS Mornings program.
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A report from Zelle shows that 76% of Gen Z people have paid money for group expenses and did not get fully paid back. Elaine Swann, an expert on manners, gives advice on how friends can talk about money when sharing costs.
Key Facts
76% of Gen Z have covered group expenses without full repayment.
The report comes from Zelle, a digital payment service.
Elaine Swann is an etiquette expert who discusses money talks among friends.
She offers tips on how to handle conversations about splitting costs.
The discussion aims to help avoid awkwardness around money with friends.
The news story is from CBS News and can be viewed on their app or website.
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The United States is expected to transfer about $124 trillion in wealth in the coming decades. However, many heirs may not be prepared to manage this wealth successfully because they lack education on investing, risk, and responsibility.
Key Facts
About $124 trillion is expected to pass from one generation to the next in the U.S. over the coming years.
The biggest risk to this wealth transfer is not taxes or market changes, but heirs not being educated on how to manage money.
Many heirs know the wealth exists but do not understand how it was created or how to protect it.
Investing skills like assessing risk, patience, and building trust take time to learn and are not automatically passed down.
Families often start teaching heirs about money too late, when attitudes about finance are already set.
Technology makes investing faster and more accessible but does not replace the need for discipline and understanding.
Education should include lessons on patience, risk management, and the personal relationships involved in investing.
Proper education can help heirs avoid treating investing like gambling and help preserve family wealth over time.
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OpenAI and Apple are in a legal dispute where Apple accuses OpenAI of stealing its secret hardware designs. OpenAI denies these claims, saying it does not have or want Apple's trade secrets and calls the lawsuit aggressive and misleading.
Key Facts
Apple sued OpenAI last month, claiming OpenAI stole hardware designs related to upcoming AI devices.
OpenAI responded by denying any theft and said Apple's accusations are vague and personal.
The companies previously worked together on AI technology integration in Apple products.
OpenAI acquired a design studio started by Apple's former design chief Jony Ive and hired many former Apple employees.
Apple claims more than 400 former employees now work at OpenAI.
Apple alleges some former employees accessed Apple’s secret information after leaving the company.
OpenAI says Apple itself contacted some former employees for help with that information.
Apple requested court orders to stop OpenAI and former employees from using its trade secrets and to speed up legal proceedings.
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Many buildings in the U.S. have poor indoor air quality, which can harm health and reduce productivity. New technologies and design strategies now help create healthier buildings that cost less to operate over time.
Key Facts
Americans spend about 90% of their time indoors, where air pollution can be 2 to 5 times higher than outside.
Poor indoor air quality can lower thinking ability, work output, and cause health problems, costing the economy $13.2 to $32.1 billion each year.
Rising electricity use from AI and data centers puts pressure on power systems, making energy efficiency important for both money and the environment.
New building technologies include AI monitoring systems, solar roof panels, and special glass that adjusts to sunlight to save energy.
Experts say it is now possible to build better, healthier buildings that cost less to maintain over their lifespan.
The Stone House Group advises early planning and sometimes suggests renovating old buildings instead of building new ones to save money and reduce carbon emissions.
COVID-19 and wildfire smoke events showed the importance of good air filtration, ventilation, and airflow control in buildings.
Small construction choices made during building can save large costs later on.
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The Federal Reserve recently kept interest rates steady but some officials want to raise them, which could lead to higher returns on savings accounts. Experts say that certificates of deposit (CDs) and money market accounts both offer benefits now, with CDs providing a fixed rate and money market accounts offering easier access and variable rates that might increase.
Key Facts
The Fed kept interest rates between 3.5% and 3.75% in July, pausing changes for the fifth time in a row.
Three Fed officials voted to raise the rate, signaling possible increases soon.
Market tools suggest a nearly 70% chance of a rate hike at the next Fed meeting.
CDs currently offer rates around 4%, which is above the 3.5% inflation rate.
CDs give a guaranteed fixed interest rate until they mature, helpful for planned expenses.
Money market accounts have variable rates and allow easier access to funds.
Experts differ on which is better: some prefer CDs for locking in rates, others prefer money market accounts for flexibility.
Many savers keep money in low-interest checking accounts, missing out on higher yields.
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More companies are moving away from giving all workers the same pay raises. Instead, they are focusing on giving bigger raises to employees who perform well. In 2027, average pay raises will be around 3.5%, with some industries offering higher increases.
Key Facts
Only 32% of employers plan to give the same raise to all workers in 2027, down from 36% in 2026.
Companies want to use pay budgets more strategically to reward top performers.
The average planned pay raise for 2027 is 3.5%, just slightly higher than in 2026.
Inflation is about 3.5%, so raises may only just keep up with rising prices.
Some industries expect bigger raises, such as aerospace and defense (4.5%) and pharmaceuticals (4%).
Industries like telecommunications plan lower raises, around 2.5%.
The data comes from a Payscale survey of about 1,300 human resources and pay experts.
The trend shows employers shifting resources to reward strong individual performance rather than equal increases for all.
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