Back-to-school shopping season is starting soon. Shoppers can save money during this time by using tax-free holiday deals, which offer discounts on essential school items.
Key Facts
Back-to-school shopping happens every year before the new school year starts.
Many states offer tax-free holidays to help families save money on school supplies and clothes.
During tax-free holidays, shoppers do not have to pay sales tax on certain items.
These discounts apply to essential school products like clothes, backpacks, and sometimes electronics.
The exact dates and rules for tax-free holidays vary by state.
Planning shopping during these holidays can help families manage their budgets.
News outlets, like CBS News, provide updates and tips on the best ways to save during back-to-school sales.
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In 2026, movie theaters are experiencing a big comeback, with summer movies breaking box office records. The total money earned from ticket sales is expected to reach $10 billion, the highest since the pandemic started.
Key Facts
Summer blockbuster films and surprise hits are doing very well at theaters in 2026.
The box office revenue is expected to hit $10 billion this year.
This would be the first time box office earnings reach this level since the COVID-19 pandemic.
The increase shows that more people are going back to watch movies in theaters.
The success of movies in 2026 suggests the film industry is recovering financially.
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The UK government often spends more money than it gets from taxes and borrows money to cover the gap. It borrows by selling bonds called gilts, which it must repay with interest. The government's total debt is nearly £3 trillion, roughly equal to the value of all goods and services the UK produces in a year.
Key Facts
The UK government borrows money when taxes do not cover all spending.
It borrows by selling bonds called gilts, which are promises to pay back money with interest.
Government borrowing was £16 billion in June 2026, down from the previous year.
For the full financial year ending March 2026, borrowing totaled £128 billion.
The total UK national debt is about £3 trillion, close to the country’s annual economic output (GDP).
Debt levels rose significantly after the 2008 financial crisis and the Covid pandemic.
Interest payments on the debt were £11.8 billion in June 2026, one of the highest ever for that month.
Interest rates increased after 2021, raising government debt costs, with uncertainty about future rate changes due to global events like the Iran war.
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A recent McKinsey report highlights that companies focusing on diversity, equity, inclusion, and accessibility (DEIA) see better employee engagement and talent retention. Experts like Christopher Bylone emphasize that creating a real sense of belonging, not just starting initiatives, is key to long-term workplace success.
Key Facts
McKinsey surveyed over 10,000 executives in 15 countries to study organizational priorities.
Strong performance is the main goal for business leaders amid challenges like AI and economic uncertainty.
Organizations that prioritize diversity and inclusion tend to attract and keep more talent.
Belonging is seen as the outcome of DEIA efforts, marking a shift from culture to measurable business results.
Christopher Bylone advocates treating belonging like any business objective, focusing on results rather than just initiatives.
Belonging requires leadership to create the right environment and individual employees to feel included.
The sense of belonging extends beyond the workplace to all areas of human life.
Unlike diversity, belonging is a universally understood idea, helping leaders connect across cultures.
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A Ryanair plane had an accident where a passenger was partly sucked out of a window after takeoff from Greece. The airline’s boss said the problem might have been caused by a foreign object hitting the plane’s engine, but the exact cause is not confirmed yet.
Key Facts
The incident happened on 10 July on a Ryanair flight from Greece to Germany.
A passenger, Ljubisa Karović, was partly sucked out of a window, injuring his head and shoulder.
His wife and other passengers held onto him to prevent him from falling out.
The plane made an emergency landing, and Ljubisa was taken to hospital.
The plane was an 18-year-old Boeing 737, serviced and repaired in the last two years.
Ryanair’s boss mentioned possible foreign object damage to the engine on takeoff from Thessaloniki.
The US National Transportation Safety Board is investigating the incident.
A draft report from the investigation is expected in about 28 days.
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Kia has introduced the 2027 Seltos, a small SUV with a design inspired by the larger Telluride model. The new Seltos starts at about $25,000 and will offer several engine options, including a hybrid variant arriving late in the year.
Key Facts
The 2027 Kia Seltos is a small SUV with design elements similar to the Kia Telluride.
It measures 174.4 inches long, 72 inches wide, and 64.9 inches tall, classifying it as a subcompact SUV.
The base model starts at $24,990 plus delivery charges.
Kia offers three different powertrain options, including a 1.6-liter hybrid expected by Q4.
Most models use a 2.0-liter four-cylinder engine with either front-wheel or all-wheel drive, getting about 28-30 miles per gallon.
A turbocharged 1.6-liter engine with 190 horsepower is available only on the SX trim with all-wheel drive, priced at $32,790.
The hybrid model's fuel efficiency and full specs are pending approval by the U.S. Environmental Protection Agency (EPA).
The Seltos' weight ranges from about 3,109 to 3,715 pounds depending on the model and features.
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Ford is recalling nearly 388,000 vehicles because the second-row seats may move unexpectedly, which could cause injury in a crash. The recall affects certain 2020-2027 Aviator and 2020-2026 Explorer models, and Ford will fix the problem for free.
Key Facts
The recall covers about 388,000 Ford Aviator and Explorer vehicles from specific model years.
The second-row seats may unlatch, tip, or slide without warning.
This seat issue could increase injury risk during a crash.
The National Highway Traffic Safety Administration (NHTSA) announced the recall.
Ford’s safety team found 14 reports of unintended seat movement while driving as of June 16.
Dealers will inspect and replace a part called the bezel at no cost to vehicle owners.
Ford will notify affected owners by mail starting July 27, 2026.
The official recall identification number is 26S52.
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Experts say the impact of the US-Israel war on Iran is seen more clearly in rising oil prices and bond yields than in stock indexes. The conflict has caused oil supply problems and pushed inflation expectations higher, making borrowing more expensive and slowing the economy.
Key Facts
The war on Iran began in late February and has caused oil prices to go up again.
Yields on 10-year US Treasury bonds increased to 4.6%, the highest in a year, signaling higher expected inflation.
The Strait of Hormuz, a key route for 20% of the world’s oil, remains mostly closed, affecting supply.
After a brief decrease in oil prices following a ceasefire agreement, oil prices rose again when the deal faltered.
The US national average price for gasoline rose to $4 per gallon, up from $3.87 the prior week.
Traders expect a 55% chance of a US interest rate increase in September due to inflation concerns.
Oil product supplies like gasoline and diesel are lower than crude oil supplies, which affects consumers more directly.
Damage caused by Iranian attacks and Ukrainian drones has reduced refinery production in the Middle East and Russia.
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Canadian Prime Minister Mark Carney criticized new tariffs imposed by President Donald Trump on Canadian exports. President Trump announced a 50 percent tax on several products from Canada, accusing it of unfair trade practices.
Key Facts
The Trump administration introduced a 50 percent tariff on some Canadian exports.
President Trump signed three orders to enforce these new tariffs.
He accused Canada of having unfair or discriminatory trade policies.
Canadian Prime Minister Mark Carney strongly opposed the tariffs.
Carney described the tariffs as a continuation of previous actions against Canada.
The tariffs affect trade between the United States and Canada.
This move could impact businesses and consumers in both countries.
The new tariffs represent a significant change in U.S.-Canada trade relations.
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A recent Harris Poll shows that 40% of Americans think the stock market only benefits the richest 1% and is not for ordinary people. Many people also confuse the stock market with the overall economy and are uncertain about their strengths and risks.
Key Facts
Two in five Americans believe the stock market mainly helps the top 1% of wealthiest people.
Almost 40% do not know the stock market and the economy are different things.
Two-thirds wrongly think a rising stock market means the economy is growing.
The stock market has grown this year, with the Dow Jones up 9% and Nasdaq up 12.5%.
Half of the stock market is owned by the wealthiest 1%, while the poorest half owns just 1%.
Inflation cooled slightly to 3.5% in June but is still above pre-war levels.
Many young adults are investing earlier, sometimes in riskier assets like AI startups, cryptocurrencies, or day trading.
About one-third of Americans would rather try to get higher returns from gambling than from the stock market, especially younger generations.
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CVS Health announced that over 9,000 CVS Pharmacy locations across the U.S. will now offer prescription medications for dogs and cats. Pet owners can bring prescriptions from their veterinarians or have them sent directly to CVS, and they can pick up medications in store or get them delivered.
Key Facts
CVS Pharmacy now dispenses common pet medications like antibiotics, allergy medicines, flea and tick treatments, insulin, and pain relievers.
More than 9,000 CVS locations nationwide participate in this service.
Pet prescriptions can use CVS services such as automatic refills and prescription synchronization.
Some pet medications may be available for home delivery through CVS.
Pet owners can add their pets to their profile on CVS.com and manage prescriptions via the CVS Health app.
CVS plans to add electronic prescription features for veterinarians in the near future.
Similar pet medication services are offered by retailers like Publix, Costco, Walmart, and Walgreens.
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A U.S.-based digital asset company found over $200 million in stablecoins heading to North Korea last month but did not stop the transaction. Current U.S. laws discourage companies from freezing such transfers due to fear of costly lawsuits.
Key Facts
The incident involved more than $200 million in stablecoins moving toward North Korea.
The company had about eight hours and the technology to freeze the transaction.
Despite this, the company did not block the transfer.
Existing U.S. laws create a risk of expensive civil lawsuits for companies that freeze transactions.
The article discusses the Clarity Act, which aims to give law enforcement clearer legal tools to manage decentralized finance.
Decentralized finance means financial services that operate without traditional banks or governments.
The Clarity Act is intended to support better control over digital asset transactions to improve security and compliance.
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California high-speed rail planners have agreed to work together to connect the Palmdale and Victor Valley areas, which could link California’s rail system with Brightline West’s planned Las Vegas route. This step aims to help finish California’s long-delayed high-speed rail project and improve travel connections across Southern California, Central California, Northern California, and eventually to Las Vegas.
Key Facts
The California High-Speed Rail Authority and the High Desert Corridor Joint Powers Agency signed an agreement to coordinate environmental approvals, station design, and other planning efforts.
The link from Palmdale to Victor Valley is about 54 miles long and is important because Victor Valley is part of the planned Brightline West rail route to Las Vegas.
Brightline West plans a 218-mile electric passenger train connecting Las Vegas to Rancho Cucamonga along Interstate 15.
California’s high-speed rail project was approved in 2008 with an original completion date of 2020 but has faced delays, cost increases, and funding gaps.
About 90 miles of track and 61 major structures have been completed so far, mostly in California’s Central Valley area.
Coordinating this new segment aims to reduce public costs and speed up construction by sharing materials and efforts.
Governor Gavin Newsom announced nearly $2.5 billion in funding for over 150 transportation projects across California for 2025-26, including highways and transit.
The agreement is part of a larger plan to create a clean and modern high-speed rail network connecting multiple regions in California and beyond.
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Tech workers are increasingly seeking to join unions as artificial intelligence (AI) changes their work conditions. Layoffs, higher workloads, and concerns about how AI is used by companies like Google and Meta have led workers to push for more influence in their workplaces through unionizing.
Key Facts
Tech workers traditionally had good pay, benefits, and a flat hierarchy but are now more interested in unions.
AI-related layoffs and concerns about job security have increased tensions among tech employees.
Workers at Google DeepMind and Meta in the UK are organizing unions partly due to ethical concerns over AI uses, such as military applications and employee monitoring.
The Alphabet Workers Union represents more than 1,400 workers from Google, YouTube, and Waymo.
Collective actions like petitions for job security have grown in participation recently, doubling union activities at Alphabet in 2025 compared to the previous year.
Google DeepMind is in early talks to recognize a union and said it intends to negotiate in good faith.
The perception that tech workers are uniquely secure and powerful is fading as layoffs and restructuring occur.
Tech labor groups argue that AI has made workers feel more replaceable and pushed them to organize for a stronger voice at work.
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A recent study shows that people who are single are spending a lot more money on dating, with millennials spending about $252 per date and Gen Z spending around $205. Many singles are going on fewer dates or picking cheaper activities because of rising costs. Also, the high price of freezing eggs worries some young women, and an investor prefers bitcoin over traditional stocks.
Key Facts
Millennials spend an average of $252 on each date.
Generation Z spends about $205 per date on average.
Half of single people are dating less or choosing less expensive date ideas.
Freezing eggs can be very expensive, which concerns some 30-year-old women.
Investor Raoul Pal favors bitcoin over the S&P 500 stock market index.
The S&P 500 has an average annual return of 11%.
Rising costs are affecting dating habits and financial decisions among singles.
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The U.S. government has announced a 50% tariff on certain Canadian goods, including hockey sticks made in Canada, as part of a dispute over trade fairness. However, most hockey sticks used by professionals and consumers are made with carbon-composite materials mainly produced outside Canada, so the tariff mostly affects traditional Canadian wooden stick makers.
Key Facts
On July 20, the White House imposed 50% tariffs on various Canadian products, including hockey sticks, effective in 30 days.
The tariffs were imposed under a rarely used law (Section 338 of the Tariff Act of 1930) allowing retaliation against countries that discriminate against U.S. businesses.
The U.S. government argues Canada unfairly restricts American cars, dairy, and alcohol, prompting these tariffs.
Most modern hockey sticks used by pros and consumers are made with carbon-composite materials from China, not traditional Canadian wood.
Only a small Canadian factory named Roustan Hockey still makes about 400,000 traditional wooden hockey sticks annually.
The tariff targets products made in Canada, so hockey sticks made or heavily modified elsewhere (like China) are not affected.
Major hockey stick brands like Bauer and CCM produce most NHL sticks but rely on international supply chains, avoiding the new tariff.
Some Canadian officials have promised to respond with equivalent tariffs on U.S. goods.
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The Centers for Disease Control and Prevention (CDC) awarded Pfizer contracts totaling about $1.24 billion for COVID-19 vaccines to cover the rest of fiscal years 2026 and 2027. The contracts include funding for vaccines for children and adults.
Key Facts
The CDC gave Pfizer contracts worth approximately $1.24 billion.
These contracts cover COVID-19 vaccines for fiscal years 2026 and 2027.
The funding includes vaccines specifically for children (pediatric doses).
Additional funds are allocated for adult COVID-19 vaccines.
The contract was announced on June 1.
The article suggests this decision may cause political challenges for Republican leaders.
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Canada is prepared to increase trade talks with the United States after President Donald Trump announced new tariffs on many Canadian products. These tariffs, set to take effect in 30 days, target goods like wine, hockey sticks, and cement, and come despite the existing United States-Mexico-Canada Agreement (USMCA).
Key Facts
President Trump ordered fresh tariffs of up to 50% on several Canadian goods.
The tariffs will exclude energy products, fish, critical minerals, potash, steel, and aluminum.
These new tariffs violate terms of the USMCA trade agreement signed by the US, Canada, and Mexico.
Canadian Prime Minister Mark Carney called the tariffs a direct violation of the agreement and expressed readiness to intensify trade talks.
The White House claims the tariffs aim to address Canadian discrimination against American goods like automobiles, alcohol, and cheese.
Canada’s political leaders across parties oppose the tariffs and consider retaliatory measures.
These tariffs follow earlier US trade actions and relate partially to disagreements over border security and fentanyl smuggling.
The tariffs were imposed using Section 338 of the 1930 Trade Act, a controversial legal tool some Democrats want repealed.
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Thames Water’s main lenders have offered the UK government a “golden share” and more control for local authorities to avoid the company being nationalised. The lenders also proposed more funds and debt relief in a new rescue plan, but the government previously rejected a similar offer.
Key Facts
Thames Water supplies water and wastewater services to 16 million people in London and southern England.
The company faces financial trouble and may run out of cash by November.
Lenders formed the London & Valley Water (L&VW) consortium to propose a rescue deal.
The previous offer included a £10 billion plan with debt write-offs and cash injections.
The government rejected the earlier plan for not doing enough for customers and the environment.
The new offer gives the government veto power through a “golden share” and more local authority involvement.
Thames Water was fined £122.7 million last year for sewage spills and shareholder payouts.
If Thames Water fails and becomes government-owned, the government could face a large debt bill.
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Shares in UK defence companies rose after Andy Burnham appointed John Healey as chancellor, raising hopes for increased military spending. Healey, a former defence secretary, previously called for more defence investment, but experts say more funding is not guaranteed due to other government spending priorities.
Key Facts
Defence company shares like Babcock International, BAE Systems, Rolls-Royce, and QinetiQ increased after Healey’s appointment.
John Healey was named chancellor by Prime Minister Andy Burnham.
Healey previously resigned over disagreements about defence spending, arguing plans were insufficient.
Investors hope Healey might increase military budgets, possibly using war bonds (special loans for defence).
Market analyst Chris Beauchamp cautioned that Healey faces many budget demands, and extra defence funding is not certain.
UK government bonds changed little after the appointment, and the British pound rose slightly against the dollar.
The UK government borrowed less than expected in June, reducing pressure on financial markets.
The government announced a plan to reduce household electricity bills by £45 annually starting in October.
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