This article talks about ways to control impulse buying by using new tools that simulate shopping thrills without spending money. It also features financial advice from Jill Schlesinger for a caller who is managing a reduced salary while facing rising college expenses and saving for retirement.
Key Facts
South Korea has introduced "dopamine sites" that let people experience the excitement of shopping or ordering food without spending real money.
These sites aim to help people who struggle with compulsive spending.
The article includes a financial advice segment with Jill Schlesinger.
Jill helps a caller named Danielle who took a pay cut for better work-life balance.
Danielle is now facing higher college costs than expected for her child.
Danielle wants to keep saving for retirement despite these new expenses.
Viewers can send money questions to Jill via the email askjill@jillonmoney.com.
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China's passenger car exports rose by 80% in June compared to last year, mainly because more electric vehicles (EVs) were bought overseas. However, sales inside China dropped by 26% due to strong competition and weaker demand from buyers at home.
Key Facts
In the first half of the year, China exported over 4.4 million passenger cars, a 72% increase from the previous year.
Domestic sales in China were around 8.3 million vehicles from January to June but fell 26% in June alone.
The domestic market faces heavy price competition and lower demand due to a weak property market and reduced government support for electric vehicle purchases.
Experts predict China’s car exports may grow by 30% to 50% for all of 2026 compared to last year.
Chinese automakers like BYD are expanding overseas and opening factories abroad to boost profits despite some trade tensions.
High global gasoline prices have increased interest in electric vehicles worldwide.
China’s electric vehicle exports to Canada are growing after the country approved an annual import quota with low taxes.
The U.S. continues to restrict Chinese EV imports with tariffs, and some Chinese-linked EV makers are banned from selling certain models in the U.S. starting 2027.
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PepsiCo reported higher than expected revenue of $24.2 billion in the second quarter despite weaker demand in North America. The company said economic worries caused customers to spend less on snacks and beverages, but sales grew in other countries.
Key Facts
PepsiCo's revenue rose 6.4% to $24.2 billion from April to June 2026.
In North America, snack sales stayed flat and beverage sales dropped by 4% in the second quarter.
Rising gas prices due to the war in Iran affected consumer spending in the U.S.
PepsiCo lowered prices on popular chips earlier in the year to boost sales.
Overall global snack volumes increased 3%, and beverage volumes grew 2%.
The company launched Gatorade Lower Sugar, a healthier drink with no artificial flavors or colors.
PepsiCo’s net income more than doubled to $2.98 billion in the quarter.
Adjusted earnings per share were $2.18, slightly below analyst predictions of $2.19.
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Some famous movie items, like Luke Skywalker's lightsaber and the Wicked Witch's hat from "The Wizard of Oz," are being sold at an auction. The auction is held by Heritage Auctions and features important pieces of film history.
Key Facts
Heritage Auctions is selling well-known movie memorabilia.
Items include Luke Skywalker's lightsaber from Star Wars.
The Wicked Witch's hat from "The Wizard of Oz" is also for sale.
These items are considered significant parts of film history.
The auction event took place around July 2026.
Collectors and fans have the chance to buy these rare items.
Movie memorabilia auctions attract attention from the business and entertainment world.
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As the UK faces hotter summers and more heatwaves, more people are buying air conditioning systems for their homes. There are three main types of home air conditioners—portable, split systems, and ducted systems—and the price varies widely depending on the type and installation costs.
Key Facts
Portable air conditioners are standalone units that cool single rooms and cost between £350 and £650.
Split systems have an indoor and outdoor unit and can cool one or multiple rooms; the unit costs between £750 and £1,100, but total installation costs range from £2,000 to £6,000.
Ducted air conditioning cools the entire house via vents and ducts, costing £990 to £1,750 for the unit, with installation possibly between £5,000 and £10,000.
The size of air conditioning units is measured in BTUs, which determines the cooling capacity and price.
Running air conditioners adds to electricity bills, typically 25p to 40p per hour for portable units.
Demand for air conditioning units has increased significantly due to rising temperatures in the UK.
Installing ducted systems may require major renovations to fit ductwork inside the house.
Higher electricity prices mean using air conditioning regularly will increase household energy costs.
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Volkswagen plans to cut up to 100,000 jobs and close several factories in Germany. The company’s major union, IG Metall, has organized protests at 18 sites to oppose these plans, which the Volkswagen supervisory board will review soon.
Key Facts
Volkswagen may cut up to 100,000 jobs and close four factories in Germany.
The affected factories include plants in Hanover, Emden, Zwickau, and Audi’s Neckarsulm site.
IG Metall union is organizing demonstrations at 18 Volkswagen sites, including the company’s headquarters.
Volkswagen employs over 650,000 people in Germany across brands like Audi, Bentley, Skoda, and Seat.
The supervisory board includes company, union, and local government representatives and must approve the plans.
The Volkswagen Act law protects most plants from closure without a two-thirds board majority, which is unlikely against union opposition.
Some plants like Zwickau and Neckarsulm are not protected by this law and could be closed without board approval, but strong resistance is expected.
Volkswagen may also simplify its company structure by spinning off some divisions to improve efficiency.
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The IRS will soon start automatically waiving certain tax penalties for taxpayers who have a history of filing and paying on time. This change, called the Automatic Exemption from Penalty (AEP) program, will begin in summer 2026 and be fully effective for the 2027 tax season.
Key Facts
The IRS will automatically remove penalties for eligible taxpayers instead of requiring them to request relief.
The program applies to penalties for late filing, late payment, and late deposits.
To qualify, taxpayers must have filed and paid taxes on time for the last three years or 12 consecutive quarters for quarterly filers.
The new system replaces the old "First Time Abate" relief that needed a formal request.
The change aims to help consistent taxpayers avoid penalties without extra paperwork.
Some taxpayers may still get penalty notices in 2026 as the system updates, but can request relief the old way.
The IRS will combine this relief effort with tougher enforcement and fraud prevention measures.
The program does not cover certain tax returns like estate or gift taxes; those taxpayers must use other relief options.
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Italy’s bank UniCredit is close to taking over Germany’s bank Commerzbank after acquiring nearly half of its shares. The German government, which owns part of Commerzbank, is opposing this takeover.
Key Facts
UniCredit is Italy’s second largest bank.
Commerzbank is Germany’s second largest bank.
UniCredit recently secured 47.6% of Commerzbank’s shares.
The German federal government owns 12% of Commerzbank.
The German government is against the takeover by UniCredit.
The takeover is described as "hostile" by some German sources.
This deal is a major development in European banking.
The news was reported in July 2026.
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Costco is facing a proposed class-action lawsuit from customers who say the company sold Orgain Organic Protein Powder without telling buyers it contained unsafe levels of heavy metals like lead, cadmium, and arsenic. The lawsuit claims Costco violated consumer protection laws by not warning shoppers about these contaminants.
Key Facts
Seven consumers filed the lawsuit in federal court in Washington state.
The product involved is Orgain Organic Protein Powder, sold at Costco stores nationwide.
Testing by Consumer Reports found lead levels 43% above the safe benchmark, plus cadmium and arsenic present.
Heavy metals naturally appear in the environment and can end up in food.
The plaintiffs say Costco did not disclose these metal levels on the packaging or in advertising.
Consumers claim they would not have bought the product or would have paid less if they knew about the contaminants.
Protein powders are not regularly reviewed or tested by the FDA before sale.
Lawsuit alleges violations in several states and seeks disclosure of heavy metal levels and sales restrictions until disclosed.
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States in the U.S. rely on different types of taxes to fund their governments. Some states collect most of their revenue from income taxes on wages and businesses, while others depend mainly on taxes from sales, gas, tourism, and other purchases.
Key Facts
In 2025, 27 states got most of their tax money from sales and consumption taxes.
21 states raised most of their tax revenue from income taxes, including taxes on wages and corporate profits.
Texas, Florida, and some other states have no income tax and rely heavily on taxes from spending and business activity.
California, New York, Massachusetts, and Connecticut depend mostly on income taxes, which are affected by earnings and business profits.
All states collected some form of sales or similar taxes by 2025, making up 45.4% of state tax revenue nationwide.
Taxes on consumption can feel lighter for wealthy people but often take more from lower-income families.
The way taxes are collected may influence economic fairness and affect racial inequality since lower-income Black and Hispanic households may pay a larger share of consumption taxes.
States have created tax systems based on different parts of the economy and populations, not just on whether taxes are "high" or "low."
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The total value of the cryptocurrency market is over $2.23 trillion, but Bitcoin has lost more than half its value since its highest price in October 2025. While big investors, banks, and politicians are supporting cryptocurrencies, there are concerns about their use in political interference and by sanctioned countries to move money outside normal banking.
Key Facts
The cryptocurrency market is valued at more than $2.23 trillion.
Bitcoin’s price has dropped by more than 50% since October 2025.
Large institutional investors are investing billions in cryptocurrencies.
Traditional banks are starting to use and support digital currencies.
Some politicians actively promote and benefit from cryptocurrencies.
Governments worldwide are working on new regulations for digital assets.
Cryptocurrencies are being used for political interference.
Some sanctioned countries use cryptocurrencies to bypass normal financial rules.
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Oil prices rose sharply after President Donald Trump ended a ceasefire with Iran following attacks on ships in the Strait of Hormuz and ordered new strikes. Prices later fell but remained volatile as tensions between the US and Iran created uncertainty in the oil markets.
Key Facts
President Trump declared the ceasefire with Iran over after Iranian attacks on ships in the Strait of Hormuz.
The US ordered fresh military strikes against Iran in response.
Oil prices jumped about 8% on the news, with Brent crude surpassing $80 a barrel.
The US revoked a temporary sanctions waiver for Iranian oil.
The Strait of Hormuz is important because about 20% of the world’s oil passes through it.
President Trump said he expects the conflict to end quickly and mentioned talks might resume.
Stock markets, especially tech shares in Asia, rose slightly amid the oil price changes.
Investors remain cautious about further violence affecting global oil supply and prices.
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A man named Brian Davis found a set of checks worth $40 million tucked inside a thrift store book called The Secret, a self-help book about attracting success with positive thinking. These checks were not real money but "Magic Checks," tools used by followers of the book’s philosophy to visualize financial success.
Key Facts
Brian Davis is from Guelph, Ontario, and found the checks while browsing a thrift store.
The checks were hidden inside a copy of The Secret, published in 2006 by Rhonda Byrne.
The Secret promotes the "law of attraction," which says positive thoughts can bring wealth and happiness.
The "Magic Checks" are used by people to write down an amount of money they want as a visualization exercise.
Davis said the checks are part of the book’s method but noted that simply wishing for money doesn’t guarantee success.
Critics have called the law of attraction idea pseudoscientific, saying it lacks scientific proof.
The book has faced criticism for suggesting people cause their own problems by thinking negatively.
Davis thinks the original owner might have donated the book after giving up on the idea or never believing in it.
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Marks & Spencer (M&S), a British high-street retailer, will celebrate its 100th anniversary by joining London Fashion Week (LFW) with a catwalk show featuring its latest clothing collections. M&S aims to attract younger customers by offering trend-focused, affordable fashion that is available to buy immediately after the show.
Key Facts
M&S is participating in London Fashion Week for the first time to mark 100 years in fashion.
The retailer will showcase both women’s and men’s clothing collections on the runway.
The catwalk show will be livestreamed for customers to watch at home.
Unlike many luxury brands, M&S’s clothes will be available to buy right after the show online and in larger stores.
M&S is working to change its image from older, unfashionable styles to trendier clothing for younger shoppers.
Fashion consultant trends like monthly product drops and viral social media items are part of M&S’s new strategy.
The brand’s younger customer base has grown by offering affordable versions of popular fashion trends seen on social media and worn by celebrities.
Previous events supporting this change include a summer fashion show in Ibiza and a recent show at Silverstone.
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A nuclear power plant called Sizewell B in Suffolk, England, will keep producing electricity for 20 more years, until 2055. The plant’s owner, EDF, made a deal with the government to invest around £800 million to upgrade the plant and protect jobs.
Key Facts
Sizewell B started working in 1995 and was originally planned to close in 2035.
The plant will now operate until 2055 after a new agreement.
EDF employs 620 staff and 300 contractors at Sizewell B.
The extension will support hundreds of jobs and allow new local hires.
Sizewell B provides power to over two million homes and contributes 3% of the UK's energy.
EDF plans to invest about £800 million to upgrade the plant.
The government supports the extension as it provides clean electricity and secures jobs.
A campaign group called Together Against Sizewell C expressed concerns about safety, environmental risks, and long-term costs of nuclear power and waste.
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The rise of artificial intelligence (AI) companies in San Francisco is driving up house prices in the city. Wealthy AI workers with high salaries and valuable stock options are buying expensive properties, causing a record increase in housing costs.
Key Facts
A renovated three-bedroom apartment in San Francisco’s Duboce Triangle was listed for nearly $3 million.
The seller of this property was willing to accept shares from AI companies OpenAI or Anthropic instead of cash.
San Francisco became the most expensive US city for homebuyers in March 2026, with median house prices rising 19% from the previous year.
By May 2026, the median home price in San Francisco reached a record $1.76 million, compared to $400,000 for the US overall.
The housing price increase is linked to the influx of AI workers who receive high salaries, bonuses, and stock options from companies like OpenAI and Anthropic.
In October 2025, over 600 OpenAI employees sold shares worth a total of $6.6 billion, averaging $11 million per person.
Anthropic employees have also sold shares estimated at $6 billion.
OpenAI and Anthropic plan to go public soon, which could increase the number of wealthy employees and further boost San Francisco’s housing market.
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Charlie Nunn, CEO of Lloyds Banking Group, shared five money management tips based on his experience running the UK's largest bank. His advice includes automating savings, being open about money in relationships, teaching children about budgeting with pocket money, pausing before making purchases to avoid fraud, and being cautious of financial influencers on social media.
Key Facts
Lloyds Banking Group is the UK’s biggest bank, managing about one in four current accounts.
Automating savings helps people regularly put money aside without needing to make a new decision each time.
Having an emergency fund covering 1 to 3 months of salary is recommended to cover unexpected expenses.
Charlie Nunn and his wife use a joint bank account and share all financial details openly.
Giving children pocket money can teach them budgeting and money management skills early.
Many people, especially young ones, face risks of online fraud through social media and marketplaces.
Lloyds has a tool that lets customers check if online deals or tickets are genuine to avoid scams.
Financial influencers promoting risky products, like some cryptocurrencies, can be misleading.
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Electric vehicles (EVs) often cost more to insure than petrol or diesel cars because they are more expensive and take longer to repair. Some EV repairs require replacing large, integrated parts rather than smaller pieces, increasing repair costs and leading insurers to charge higher premiums.
Key Facts
EV repairs cost 30% more on average than repairs for petrol or diesel cars.
It takes 14% longer, on average, to fix EVs.
Insurance premiums for EVs can be 10-25% higher depending on the model.
EV components are often glued or combined to reduce weight, making repairs more costly.
A minor crash can cause expensive damage, such as a £4,000 repair to a charging port and related parts.
The battery makes up about 40% of an EV’s total value and usually must be replaced as a single unit.
EVs accounted for nearly one in three new cars sold in the UK in June.
Experts say lowering insurance costs and making EVs easier to repair could encourage more buyers.
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The UK government is planning reforms for the veterinary sector, including requiring vets to have a licence and capping pet medicine prescriptions at £21. The proposed changes aim to increase transparency, improve competition, and protect pet owners from high and unexpected costs.
Key Facts
UK vets may need an official operating licence similar to GP surgeries and care homes.
Prescription costs for pet medicines could be capped at £21.
Over 60% of UK veterinary practices are owned or partly owned by six large groups controlled by private equity or big companies.
The Competition and Markets Authority found low public satisfaction with veterinary costs and weak competition among vet businesses.
Proposed reforms include mandatory price lists and clearer ownership information to help pet owners compare prices.
Pet owners spent more than £6.7 billion on vet and related services in 2024, averaging £390 per household.
The Veterinary Surgeons Act has not been updated since the 1960s, when most vets worked in agriculture and small family practices.
Supporters say the reforms will hold vet businesses to account, protect consumers, and modernize the profession.
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Telstra, an Australian telecom company, is still experiencing problems after a national outage caused by a software fault. The issues are affecting emergency calls to triple zero and disrupting Victoria’s regional train services. The government has said a full investigation will take place to find out what happened.
Key Facts
Telstra’s outage began on Wednesday due to a software fault related to its GPS timing system.
The fault caused emergency triple-zero calls to fail or go to voicemail.
By Thursday morning, the problem with emergency calls was 90% reduced but not fully fixed.
Victoria’s regional trains remained suspended because of the Telstra outage.
Telstra performed over 300 welfare checks on people who tried to call triple zero during the outage.
Six people needed immediate help, and others were referred to police for checks.
The government wants a full investigation and possible penalties for the outage.
Opposition officials criticized Telstra's network reliability, calling it critical infrastructure.
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