The UK government is considering changing laws to take Thames Water into public ownership because current insolvency rules do not handle the company's situation well. Environment Secretary Angela Eagle says the water industry needs reform, noting that Thames Water has a large debt and is owned by US hedge funds trying to change its debt deal to avoid nationalisation.
Key Facts
Thames Water is owned by US hedge funds including Elliott Management and Apollo Global Management.
The company has a £20 billion debt and faces a record £122.7 million fine for sewage spills and illegal payments to shareholders.
Ministers, led by Environment Secretary Angela Eagle, may alter the law to enable public ownership of Thames Water.
Thames Water is not technically insolvent yet, so putting it into special administration is legally complex.
Special administration is a process to protect companies that provide essential services but are failing financially or legally.
The government is working on a new water bill that could give it more power to control or take over water companies.
Thames Water’s owners want a £10 billion deal to restructure debt and avoid nationalisation, but this deal faces regulatory challenges.
Angela Eagle is working closely with other officials to improve water infrastructure and respond to drought conditions in the UK.
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New Jersey has asked the U.S. Supreme Court to decide if states can regulate sports betting on prediction markets like Kalshi. The case involves whether these bets are considered “swaps” controlled by federal law or gambling regulated by state laws.
Key Facts
New Jersey’s Attorney General filed a petition asking the Supreme Court to review a lower court ruling.
The 3rd Circuit Court ruled that sports bets on prediction markets are “swaps,” giving federal regulators exclusive control.
The 9th Circuit Court disagreed, saying such bets are actually gambling and should follow state laws.
This disagreement between courts raises the chance the Supreme Court will take the case.
Kalshi allows people to bet on sports outcomes but calls these bets “swaps” to avoid state gambling laws.
New Jersey bans betting on college sports and regulates gambling, but cannot enforce laws against Kalshi due to the court rulings.
The legal question involves the 2010 Dodd-Frank Act, which defines “swaps” and gives the Commodity Futures Trading Commission control over them.
New Jersey argues that allowing Kalshi to operate without state oversight harms states’ ability to control their sports gambling markets.
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Gasoline and diesel prices are rising ahead of Labor Day, reaching near record highs. The increase is linked to conflict in the Strait of Hormuz, which affects the flow of oil, and is causing higher costs for consumers and industries.
Key Facts
The national average price for regular gasoline hit $4.14 per gallon.
Diesel averaged $5.78 per gallon, close to its record high of $5.81 from June 2022.
High fuel costs have added more than $741 in expenses per American household since the start of the Iran conflict.
Rising diesel prices increase costs in industries like trucking, construction, and agriculture, which causes higher prices for consumer goods.
President Trump met with U.S. oil refiners to discuss increasing production capacity.
President Trump also made a deal with Venezuela to access about 65 billion barrels of oil reserves, but it will take time to impact prices.
Oil prices remain high due to ongoing tensions and attacks in the Middle East, especially in the Strait of Hormuz, a key oil shipping route.
The price of Brent crude oil was $95.55 per barrel; U.S. crude oil was about $91.50 per barrel at the time of the report.
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A home equity line of credit (HELOC) lets homeowners borrow using their home’s value as collateral, similar to a credit card. As of September 2026, the average HELOC interest rate is about 8.09%, and a $150,000 HELOC would cost between $1,441 and $1,827 per month depending on repayment length and changing rates.
Key Facts
A HELOC allows borrowing against home equity for repairs, debt payoff, or major expenses.
You only repay the amount you borrow, not the total credit approved.
Interest rates on HELOCs are variable and can change monthly.
Average HELOC interest rate is 8.09% as of September 2026.
Monthly payments on a $150,000 HELOC range from $1,441 (15 years) to $1,827 (10 years) if rates stay the same.
HELOC monthly costs were lower in fall 2025 and higher in summer 2025 due to rate changes.
Borrowers should budget for rate changes over time to avoid payment surprises.
HELOC rates are generally lower than home equity loans, personal loans, or credit cards at this time.
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A 6-month certificate of deposit (CD) with $100,000 at current rates can earn between about $1,980 and $2,078 in interest by the time it matures. CDs offer a fixed interest rate, protecting the money while providing a predictable return over the short term.
Key Facts
A CD is a savings account where you lock in money for a set time to earn interest.
Current top 6-month CD rates range from 4.00% to 4.20%.
At these rates, a $100,000 CD will earn roughly $1,980 to $2,078 after 6 months.
The interest rates on CDs are fixed, meaning they stay the same until the CD ends.
CDs protect your principal, meaning the original amount won’t decrease.
You can withdraw money only after the CD term ends without a penalty.
Penalties for early withdrawal can erase all earned interest.
After 6 months, you can move your money into another account or investment.
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Reform UK has promised to cut £80 billion from public spending over five years by reducing welfare, net zero climate programs, overseas aid, and civil servant numbers. The party aims to lower taxes if it wins the next election but says it must first gain market trust.
Key Facts
Reform UK plans to cut £80 billion from government spending in five years.
£50 billion of the cuts would come from reducing welfare benefits.
£10 billion would be saved by cutting net zero climate initiatives.
The party also plans to save £8 billion by reducing the number of civil servants.
£7.1 billion would come from capping the foreign aid budget.
Immigration policies like ending indefinite leave to remain for migrants would add further savings.
Reform UK wants to keep the triple lock, which increases pensions based on inflation or wages.
They propose removing some taxes on building homes on brownfield land to encourage house building.
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The Federal Reserve may raise interest rates soon, which could affect how much money savers earn. Certificates of deposit (CDs) have fixed rates that are often higher now, while high-yield savings accounts have variable rates that could rise if rates go up. Choosing between the two depends on whether you want a guaranteed return or flexibility to access your money.
Key Facts
The Federal Reserve might increase interest rates at its next meeting on September 16.
CDs currently offer higher fixed interest rates than high-yield savings accounts.
High-yield savings accounts have variable rates that can change with the economy.
CDs lock in your interest rate for a set term, but withdrawing early can lead to penalties.
High-yield savings accounts let you withdraw money anytime without fees.
If rates rise, high-yield savings accounts could become more profitable than CDs.
Online banks often offer better rates on both CDs and high-yield savings accounts than traditional banks.
Traditional savings accounts pay very low interest, usually under 0.40%.
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Fox News Media removed anchor Maria Bartiromo from her roles without giving a reason. She had been off air since August and was known for hosting shows on Fox Business Network and Fox News, as well as for her strong support of President Donald Trump.
Key Facts
Maria Bartiromo was let go by Fox News Media suddenly, with no explanation.
She hosted a three-hour weekday morning show on Fox Business Network and a Sunday morning show on Fox News.
Bartiromo had been off air since early August before the announcement.
She worked at Fox News for more than 12 years.
Bartiromo was involved in two defamation lawsuits linked to Fox News’s 2020 election coverage; one has been settled, the other is ongoing.
Her daily show will temporarily have rotating anchors and a new Sunday host will be named later.
It is unknown if her departure relates to the lawsuit or a possible job with President Trump’s administration.
Bartiromo and Laura Ingraham were appointed to the Kennedy Center board last spring.
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Thieves stole about 70,000 pints of Guinness, worth approximately £115,000, from a warehouse in Runcorn, Cheshire. Police are investigating and asking the public for information to help find the stolen beer and trailers.
Key Facts
Two lorries with trailers entered the depot on Aston Lane in Runcorn on Monday evening.
About 800 barrels of Guinness, equal to 70,400 pints, were taken.
The stolen Guinness was meant to be delivered to pubs.
The total value of the stolen barrels and trailers is around £205,000.
Police gave descriptions of the two male drivers and details of the trailers.
The trailers were white, with markings from the logistics company GXO.
Police are asking anyone with dashcam footage or information to come forward.
The warehouse belongs to Diageo, the company that owns Guinness.
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Markets tend to invest where they expect the highest financial returns, mostly in places that already have good infrastructure and resources. This approach leaves regions like Latin America and Africa with fewer investments, so solving big global problems requires focusing on need rather than profit, even if it takes more time and effort.
Key Facts
Markets direct money and talent to places with existing resources to get the best returns.
Regions like Latin America and Africa struggle to attract investment because returns are lower there.
Focusing on the highest social needs, not just profits, can help create impact in underserved areas.
People’s opportunities are often limited by where they are born, not by their abilities.
Important social problems usually have slower progress and less financial incentive, so markets don’t solve them well on their own.
The 2008 financial crisis showed that infrastructure managed for profit alone can cause problems.
New technologies tend to reach wealthy countries first and take longer to benefit poorer regions.
Improving financial systems, like payment networks and regulations, is key to spreading benefits more evenly than just inventing new tech.
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The average rate for a 30-year fixed mortgage in the U.S. increased to 6.71%, the highest level in over a year. Higher mortgage rates make monthly payments more expensive, which may cause some people to delay buying homes and slow down home sales.
Key Facts
The 30-year fixed mortgage rate rose from 6.66% last week to 6.71%.
One year ago, the rate was 6.50%.
This is the highest rate since July 31, 2025, when it was 6.72%.
The 15-year fixed mortgage rate also rose, from 5.98% to 6.04%.
A year ago, the 15-year rate was 5.60%.
Higher mortgage rates increase monthly payments for borrowers.
Rising rates can cause people to wait before buying homes, slowing home sales.
Mortgage rates tend to follow the 10-year U.S. Treasury yield and are affected by inflation and Federal Reserve policies.
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US energy companies have signed agreements worth billions of dollars with Venezuela to develop a large portion of its oil reserves. President Donald Trump called this the largest oil deal in history, though the agreements have raised concerns about Venezuela’s control over its own resources.
Key Facts
US energy firms recently made several multi-billion-dollar deals with Venezuela.
These deals give the US control over a significant part of Venezuela’s large oil reserves.
President Donald Trump described the agreement as the biggest oil deal ever made.
The deals happened just days after Venezuela agreed to grant control over its oil resources to the US.
The agreements have caused debate about Venezuela’s ability to manage its own oil and maintain sovereignty.
Venezuela has some of the largest known oil reserves in the world.
The deals represent a major step in US-Venezuela economic cooperation in the energy sector.
The news was reported by France 24 with analysis from an international affairs editor.
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A $250,000 annuity can provide regular monthly income to retirees, with the amount depending on the buyer’s age and gender. Older buyers generally receive higher monthly payments because the insurer expects to pay for fewer years.
Key Facts
An annuity is a financial product that gives you monthly payments for life in exchange for an upfront amount.
At age 60, a $250,000 annuity could pay about $1,325 per month for men and $1,258 for women.
At age 80, payments increase to about $2,875 per month for men and $2,700 for women.
The size of monthly payments depends on how long the insurer expects to pay; younger buyers get smaller payments over a longer time.
Women typically receive lower monthly amounts than men because they live longer on average.
Annuities can provide steady income to cover expenses without depending on market performance.
Deciding when to start an annuity depends on when you need the income and how it fits with other retirement savings.
The payment amounts mentioned are estimates and not guaranteed offers.
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Federal Reserve officials have mixed views on whether to raise interest rates at their mid-September meeting. Some want to wait and see more inflation data before deciding, while others are eager to increase rates to control inflation.
Key Facts
Markets recently expected a rate hike in mid-September after Fed chairman Kevin Warsh's speech.
Fed governor Christopher Waller supports holding rates steady if inflation improves, but is open to hikes if it does not.
New York Fed president John Williams said more data is needed to know if a rate increase is required.
Warsh says the Fed must be sure inflation is clearly decreasing before pausing rate hikes.
CME’s FedWatch tool shows a 50/50 chance of a rate hike at the next meeting.
Some Fed members want to raise rates sooner, leading to internal disagreements.
Waller described the Fed’s role as similar to an umpire setting clear rules so markets can react predictably.
The decision is closely tied to upcoming August jobs and inflation reports.
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The U.S. trade deficit increased to $88.6 billion in July, the highest level in over a year. This rise was mainly due to a $17.4 billion increase in the value of goods and services imported into the U.S. compared to June.
Key Facts
The U.S. trade deficit in July was $88.6 billion.
This amount is the largest monthly trade deficit in more than a year.
The deficit grew by $17.4 billion from June’s $71.2 billion.
The data comes from the U.S. Commerce Department.
A trade deficit happens when the value of imports is higher than exports.
Both goods and services contributed to the increase in imports.
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Global bond yields dropped after Federal Reserve Governor Christopher Waller said he might support keeping interest rates unchanged if the economy improves. He noted that if the economy makes steady progress toward the Fed’s 2 percent inflation target, he would back holding rates steady.
Key Facts
Bond yields worldwide decreased on Thursday.
Federal Reserve Governor Christopher Waller spoke about interest rates.
Waller said he would support holding rates steady if economic conditions improve.
The Federal Reserve aims for a 2 percent inflation goal.
Waller is pleased with progress toward that inflation target.
Holding rates steady means not raising or lowering interest rates for now.
Lower bond yields often reflect expectations of stable or slower rate hikes.
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A New Jersey candy company is recalling chocolate eyeball candies sold at Marshalls, TJ Maxx, HomeGoods, and Sierra Trading Post because the packaging did not list milk as an ingredient. The Food and Drug Administration (FDA) warns that people with milk allergies could have serious reactions. No illnesses have been reported so far.
Key Facts
The candy is sold under the brand "Crystal Temptations."
It was distributed in 13 states, including Arizona, California, New Jersey, Texas, and Virginia.
The recall was issued because milk allergens were not declared on the packaging.
People with milk allergies risk severe allergic reactions if they eat the candy.
No reported illnesses linked to the candy exist as of August 31.
The packaging mistake happened due to a temporary problem during production and packing.
Consumers who bought the candy should throw it away and contact Crystal Temptations for a refund.
The stores that sold the candy will not give refunds directly.
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Horizon Organic Dairy is recalling over 53,000 cases of its chocolate milk because the milk might spoil early. The company and the FDA warn that the milk could develop a bad taste or smell.
Key Facts
The recall involves more than 53,000 cases of Horizon Organic chocolate milk.
The milk may spoil before its expiration date.
Spoiled milk can have a unpleasant taste and odor.
The recall is voluntary, meaning the company chose to take action on its own.
The FDA is involved in sharing information about the recall.
Consumers are advised to check their products and avoid drinking the recalled milk.
Horizon Organic Dairy is working to address the issue and ensure safety.
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If your bank account is frozen because of unpaid debt, deposits that are on the way may still arrive in the account. However, the money could be blocked or taken by creditors depending on the timing of the deposit and the laws in your state. Some government benefits are protected from being taken.
Key Facts
Household budgets are strained due to high interest rates, inflation, and rising costs.
Credit card debt in the U.S. reached $1.26 trillion in Q2 of 2026.
If you miss credit card payments, creditors might sue and get a court order to freeze your bank account.
A frozen account means you cannot withdraw money, but pending deposits can still arrive.
Creditors can take (garnish) money from your account after a court levy order.
The timing of deposits matters: money arriving after the freeze might be subject to collection or not, depending on state laws and the court order.
Federal benefits like Social Security and VA payments often have protections and cannot be seized.
You should contact your bank quickly to find out if deposits will be restricted and what steps to take to access your money.
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Daniel Lubetzky, a judge on the TV show "Shark Tank" and founder of KIND Snacks, talked about four important skills needed to build a successful business. He shared these ideas during an interview about his new podcast called "Build or Break," where he speaks with other business leaders and innovators.
Key Facts
Daniel Lubetzky is a judge on "Shark Tank," a show where entrepreneurs pitch business ideas.
He founded KIND Snacks, a popular food company.
Lubetzky has a new podcast called "Build or Break."
The podcast features conversations with entrepreneurs and industry leaders.
He identified four key skills that help build strong businesses.
The interview appeared on the "CBS Mornings" program.
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