Business News

Exclusive discounts from CBS Mornings Deals

August 22, 2026 • CBS News

Summary

CBS Mornings Deals shares special discounts on products that aim to improve daily life. People can visit the website cbsdeals.com to find and buy these items.

Key Facts

CBS Mornings Deals offers exclusive discounts on various products.
The products featured are meant to help make daily life better.
Customers can access these deals by visiting cbsdeals.com.
CBS earns commissions when people buy items through their website.
The deals are promoted on CBS News and the CBS News app.

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CBS News

U.S. imposes 50% tariffs on $20 billion worth of Canadian products. Canada will impose retaliatory tariffs

August 22, 2026 • PBS NewsHour

Summary

The United States has placed a 50% tax on $20 billion of goods from Canada. Canada plans to respond with its own taxes after efforts to avoid conflict did not work.

Key Facts

The U.S. added a 50% tariff tax on Canadian products worth $20 billion.
These tariffs affect about 5% of all goods Canada sends to the U.S. each year.
The taxed products include items like hockey sticks and tongue depressors.
Canada announced it will apply its own retaliatory tariffs starting on September 8.
Negotiations between the two countries did not resolve the trade dispute.
The U.S. President at the time of this decision is Donald Trump.
The tariffs mark a new tension between two countries that have been long-time allies.

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PBS NewsHour

Trump's trade deal with Canada collapses

August 22, 2026 • CBS News

Summary

The United States and Canada failed to reach a trade agreement. As a result, the U.S. will put a 50% tax on $20 billion of Canadian goods. Canada’s prime minister said Canada will respond by adding similar taxes on U.S. products.

Key Facts

The U.S. and Canada did not agree on a new trade deal.
The U.S. will charge a 50% tariff on $20 billion of Canadian imports.
A tariff is a tax on goods coming into a country.
Canada’s prime minister promised to match the U.S. tariffs equally.
These actions may affect trade between the two countries.
The situation follows a breakdown in negotiations.
It is not yet clear how long these tariffs will last.
The news was reported by CBS News.

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CBS News

How bitcoin and gold went from a slump to an MVP week in just a few days

August 22, 2026 • AP News

Summary

Bitcoin and gold prices rose sharply this week after a move by the U.S. Treasury to increase purchases of long-term government bonds. This action, along with calls by President Donald Trump for faster cryptocurrency regulation, caused investors to shift money into these alternative assets.

Key Facts

Bitcoin fell from about $95,000 in January to below $60,000 in June, then rose above $77,000 this past Friday.
Gold dropped from over $5,300 in January to around $4,000 in June, then climbed to $4,661 on Friday.
The U.S. Treasury announced it would double its purchases of long-term government debt to stabilize bond markets.
Treasury Secretary Scott Bessent aims to lower long-term borrowing costs despite inflation concerns.
The U.S. national debt surpassed $40 trillion recently, a record high.
The U.S. dollar's value dropped sharply following the Treasury's announcement.
Investors moved money from the dollar and bonds into gold and bitcoin, an example of the "debasement trade" where people protect against inflation by buying alternative assets.
President Trump, who earned about $1.2 billion last year from crypto holdings, urged Congress to pass cryptocurrency laws quickly.

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AP News

‘This is my place of business’ — cakes and coffee in an age of rage

August 22, 2026 • The Hill

Summary

The article discusses a coffee shop owner named Sheehan who has taken a strong stance related to his business. It compares his actions to those of Jack Phillips, who was involved in the Masterpiece Cakeshop case, noting that Sheehan’s approach is more extreme.

Key Facts

Sheehan owns a coffee shop and is actively involved in its operations.
He has made decisions or taken actions related to his business that have attracted attention.
The article references Jack Phillips, a key figure in the Masterpiece Cakeshop Supreme Court case about business rights.
The Masterpiece Cakeshop case involved issues about a business owner refusing service based on personal beliefs.
Sheehan’s actions are described as more extreme than those in the Masterpiece Cakeshop matter.
The situation involves balancing business rights and public reactions.
The article touches on the challenges faced by business owners in a tense social environment.

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The Hill

How Federal Water Plan Affects Your State, Lake Mead, Powell

August 22, 2026 • Newsweek

Summary

The U.S. Department of the Interior has finalized new rules to reduce water use from the Colorado River by three Western states due to ongoing drought. Arizona, California, and Nevada will cut water use by a total of 1.25 million acre-feet annually in 2027 and 2028 to protect key reservoirs like Lake Mead and Lake Powell.

Key Facts

Arizona will reduce its Colorado River water use by 760,000 acre-feet per year, about 27% of its usual share.
California will reduce by 440,000 acre-feet per year, about 10% of its allocation.
Nevada will reduce by 50,000 acre-feet per year, about 17% of its share.
These cuts apply in 2027 and 2028 and total 1.25 million acre-feet annually across the three states.
The Department of the Interior also seeks 700,000 acre-feet of voluntary conservation and storage across these states during the same period.
Four other states in the Upper Basin—Colorado, New Mexico, Utah, Wyoming—will not have mandatory cuts but are asked to cooperate in managing water storage to protect Lake Powell and Glen Canyon Dam.
Lake Powell and Lake Mead, two major reservoirs on the Colorado River, are at critically low levels due to extended drought and heavy water demand.
Glen Canyon Dam generates hydroelectric power for six Western states and must be protected to maintain electricity supply and water deliveries.

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Newsweek

Canada rejects US terms for trade deal as 50 percent tariffs take effect

August 22, 2026 • The Hill

Summary

Canada stopped trade talks with the U.S. after new tariffs from President Trump’s administration started. The U.S. put a 50 percent tax on over $20 billion of Canadian goods, which led to disagreements between the two countries.

Key Facts

Canada ended trade negotiations with the U.S. on a Friday evening.
This happened just before the U.S. started charging 50 percent tariffs on certain Canadian products.
The tariffs apply to more than $20 billion worth of Canadian goods.
The talks were about resolving disagreements caused by these tariffs.
The U.S. government is led by President Donald Trump.
The new trade taxes are part of President Trump’s plan to change trade rules.
Canada disagreed with the terms offered by the U.S. during the negotiations.
The tariffs could affect trade and economic relations between the U.S. and Canada.

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The Hill

Diamonds for sale: lab-grown gem auctions are all over TikTok right now, but some aren’t happy about it

August 22, 2026 • Guardian Tech

Summary

Lab-grown diamonds are being sold quickly in live auctions on TikTok, often for a fraction of the price of natural diamonds. These auctions draw many viewers and buyers, making diamonds more affordable and accessible to a wider audience.

Key Facts

Lab-grown diamonds have the same chemical makeup as natural diamonds but were less valued until recently.
TikTok live auctions for lab-grown diamonds last about 10 to 15 seconds.
Prices for lab-grown diamonds in these auctions typically range from $100 to $200 per carat.
The auctions often start at just $1 and involve lively hosts encouraging viewers to bid.
Many people watch these auctions for entertainment, even if they do not buy.
Some buyers have purchased multiple diamonds and enjoy collecting different colors and shapes.
The live auction format creates a sense of urgency because items sell quickly.
Lab-grown diamonds are making the diamond market more affordable and open to more people than before.

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Guardian Tech

Taxi drivers urge council to agree 8% fare hike

August 22, 2026 • BBC Business

Summary

Taxi drivers in North Tyneside want an 8% increase in fares to cover higher fuel and vehicle costs. The council is discussing the proposal and considering a smaller increase because many local residents are also facing higher living expenses.

Key Facts

Taxi fares could rise by 8%, making a three-mile trip cost about £5.52.
The increase applies only to hackney carriages, which can be hailed on the street or at taxi ranks, not pre-booked taxis.
The North Tyneside Hackney Carriage Association asked for the fare hike due to rising fuel prices and vehicle part costs.
Additional charges would rise, such as fines for car theft from £125 to £130 and fees for dogs (except service dogs) from £3 to £4.
Some council members want a smaller fare increase to protect residents, especially the elderly, from extra costs.
The fare changes need approval from the director of public health and will be open for public feedback for at least 14 days.
Councillors recognize both the difficulties faced by taxi drivers and by local residents due to the cost of living increase.

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BBC Business

Canada says will match new US 50% tariffs 'dollar for dollar'

August 22, 2026 • France24

Summary

The United States has put a 50% tax on certain Canadian products as part of a trade disagreement. Canada said it will respond by adding the same amount of tax on U.S. products.

Key Facts

The U.S. started charging a 50% tariff on some Canadian goods on August 22, 2026.
These tariffs were originally planned to start on a later date but were applied earlier.
President Donald Trump said he has a good relationship with Canada’s leader and hoped for a deal.
The U.S. gave negotiators three days to make an agreement before starting the tariffs.
Canada responded by promising to add matching tariffs on American products “dollar for dollar.”
This action increases tensions in the ongoing trade disagreement between the U.S. and Canada.

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France24

Mexico resumes livestock sales to US under tight controls over screwworm risk

August 22, 2026 • AP News

Summary

Mexico will start sending cattle to the United States again after a yearlong ban caused by an outbreak of the New World screwworm parasite. The U.S. will allow limited imports starting August 24, with strict rules to prevent the parasite from spreading further.

Key Facts

The ban on Mexican cattle imports to the U.S. lasted for about one year due to the New World screwworm parasite.
The parasite causes maggots to burrow into warm-blooded animals’ wounds, affecting livestock and sometimes pets and humans.
The outbreak was first detected in Mexico in November 2024 and has spread to almost all Mexican states.
Mexico currently has about 1,969 active screwworm cases, less than half compared to last year, showing some progress.
U.S. imports of Mexican cattle will resume at the Douglas, Arizona border crossing on August 24, with tight controls.
If the restart goes well, the USDA may open more border points for cattle shipments.
The screwworm has already appeared in Texas and New Mexico, and U.S. authorities are fighting these cases.
The ban hurt cattle and beef industries in both countries and contributed to shortages in the U.S. market.

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AP News

Full List of US Trade Tariffs Hitting Canada From Today

August 22, 2026 • Newsweek

Summary

The United States has started new tariffs of up to 50 percent on many Canadian products after trade talks between the two countries failed. These tariffs affect cars, alcohol, dairy, and many other goods, and are meant to offset what the U.S. calls unfair treatment of American products by Canada.

Key Facts

Trade talks between the U.S. and Canada did not lead to an agreement to avoid new tariffs.
President Donald Trump said a deal was close but disagreements on cars and alcohol ended the negotiations.
The tariffs are based on Section 338 of the Tariff Act of 1930, allowing the U.S. to impose duties to balance trade disadvantages.
Products hit by 50 percent tariffs include motor vehicles, alcoholic drinks, dairy products, and hundreds of other Canadian goods worth about $20 billion.
Canadian provinces banned U.S. alcohol in response to earlier U.S. tariffs, worsening trade tensions.
The U.S. accuses Canada of unfair rules that block American dairy products.
The tariffs apply even to goods covered by the USMCA trade agreement, except some energy, fish, and mineral products.
These new tariffs add to existing U.S. tariffs on Canadian steel, aluminum, and lumber.

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Newsweek

Ethiopia uncorks a wine boom, Bordeaux vines driving exports and local demand

August 22, 2026 • France24

Summary

Ethiopia is growing its wine industry by working with French experts and planting vines from the Bordeaux region. After years of development, Ethiopian wine exports are increasing, and more people in Ethiopia are drinking local wine.

Key Facts

French experts partnered with Ethiopian winemakers to improve local wine production.
Seeds from Bordeaux, a famous French wine area, were brought to Ethiopia.
Ethiopian vineyards have been developed and improved over several years.
Ethiopia’s wine exports are now rising and reaching new markets.
Locally, more Ethiopians are choosing to drink wines made in their country.
This effort is putting East Africa on the international map for wine production.
The partnership is based in central Ethiopia.
The article highlights a positive trend in Ethiopia’s agriculture and trade sectors.

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France24

America's Biggest Untapped Talent Pool Is Hiding in Plain Sight | Opinion

August 22, 2026 • Newsweek

Summary

Many American companies face worker shortages but overlook people with disabilities as potential employees. Assumptions about disability often prevent these individuals from getting job opportunities, even though they have valuable skills and qualities.

Key Facts

Businesses struggle to find enough skilled workers.
People with disabilities are a large, untapped group of potential workers.
Employers often assume disabled candidates will be less productive or require costly support.
These assumptions stop many from being hired or even interviewed.
People with disabilities often develop unique problem-solving skills and persistence.
Most workers are hired based on potential and given chances to learn and grow.
Disability inclusion benefits businesses by adding talent and improving innovation.
Disability Employment Awareness Month in October highlights the importance of inclusive hiring.

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Newsweek

Wall Street week ahead: Reports on consumer confidence and inflation on tap

August 22, 2026 • AP News

Summary

Wall Street will receive new reports next week on how confident consumers feel about the economy and on inflation rates. These reports show that consumer confidence has been falling and inflation remains higher than the Federal Reserve’s target.

Key Facts

A consumer confidence report from The Conference Board is due Tuesday, expected to show a drop in confidence in August.
Consumer confidence has been low most of 2026 because prices have risen steadily.
Inflation has stayed above 3%, higher than the Federal Reserve’s goal of 2%.
The U.S. war with Iran disrupted oil supplies, increasing gasoline and shipping costs.
The Personal Consumption Expenditures (PCE) report, which the Fed uses to track inflation, will be released Wednesday.
Inflation briefly neared the target in early 2025 but rose again after new global tariffs and the Iran conflict.
The Federal Reserve is expected to keep interest rates unchanged at its September meeting.

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AP News

How will Trump’s tariffs affect Canada’s economy?

August 22, 2026 • Al Jazeera

Summary

The United States has added 50% taxes, called tariffs, on $20 billion of goods from Canada after trade talks failed. Experts say these tariffs will hurt important parts of Canada’s economy but probably won’t destroy it.

Key Facts

The US imposed 50% tariffs on $20 billion worth of Canadian goods.
The tariffs were put in place after trade negotiations between the US and Canada collapsed.
Key industries in Canada will be heavily affected by these tariffs.
A trade expert, Steven Okun, stated that these measures will not ruin Canada’s entire economy.
The tariffs have increased tensions between the US and Canada.
The trade dispute is ongoing and likely to continue.

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Al Jazeera

Panama Canal to reduce shipping as ‘extreme’ El Nino approaches

August 22, 2026 • Al Jazeera

Summary

The Panama Canal will reduce the number of ships passing through each day from 40 to 32 between September 4 and September 15. This change is due to expected lower water levels caused by a strong El Niño weather pattern, which could slow shipping and increase costs for industries relying on the canal.

Key Facts

The Panama Canal usually allows 40 ships to transit daily.
From September 4 to September 15, daily transits will be reduced first to 34, then to 32 ships.
This reduction is because water levels are expected to drop due to an "extreme" El Niño weather event.
El Niño is a weather pattern that can cause changes in rainfall and water availability.
Lower water levels make it harder and less safe for ships to pass through the canal.
Slower shipping could lead to higher shipping costs for companies using the canal.
The canal is a key route for global trade, linking oceans and saving travel time for ships.

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Al Jazeera

Not 'poor enough': Do people use London's pay-it-forward schemes?

August 22, 2026 • BBC Business

Summary

Pay-it-forward schemes in London let people donate money that others can use to get items like coffee or books for free or at a reduced cost. These schemes aim to help people who struggle with the rising cost of living, but not many people use them openly due to feelings of embarrassment or stigma.

Key Facts

Pay-it-forward schemes allow donations to cover small costs for others, such as coffee or books.
Host Cafe in St Mary Aldermary church offers a "suspended coffee" scheme where people can take a token heart to claim a free drink without explaining.
Paul Atherton, a homeless filmmaker, says such schemes have helped him by offering a sense of community and access to coffee despite living on very limited funds.
Economist Joan Costa-i-Font calls these schemes symbolic kindness but says they do not fix bigger social problems.
Lala Books in Camberwell runs a similar scheme for books and magazines, aimed especially at young people facing financial pressure.
Many people feel embarrassed or think they are "not poor enough" to use the schemes, which limits usage.
Both hosts want to encourage more people from different backgrounds to use the schemes comfortably.
The schemes are funded by community donations and meant for anyone who feels they might fall short financially.

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BBC Business

Battery fires at recycling centres are costing UK £1bn a year, figures show

August 22, 2026 • Guardian World

Summary

Fires caused by lithium batteries at UK recycling centres are happening more than 10 times a week and cost about £1 billion a year. Most of these fires come from wrongly thrown away batteries found in items like vapes, smartphones, and power tools, creating a big safety and financial problem.

Key Facts

UK recycling centres reported 1,518 fires in one year, with 541 directly linked to lithium ion batteries.
Battery fires also occur in bin lorries, with 216 incidents recorded.
Experts believe battery-caused fires may be as high as 70% of all recycling centre fires.
The annual cost of these fires rose from £150 million in 2021 to £1 billion in 2026.
Lithium batteries can ignite when crushed or punctured, causing fires that are difficult to control.
Many fires have happened recently in locations across the UK, including London, Glasgow, and Norfolk.
The Environment Services Association wants a £5 deposit on all vapes to encourage safe returns and disposal.
Waste company Biffa recovered 500,000 vapes at its centres over summer 2025 alone.

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Guardian World

Coles website down after viral Reddit post sees customers buy cases of alcoholic drinks at nearly 80% discount

August 22, 2026 • Guardian World

Summary

The Coles website and app went offline briefly after a Reddit post showed large discounts—up to 80% off—on 24-packs of alcoholic drinks. Coles said the low prices were caused by a technical error and promised refunds for affected customers.

Key Facts

A Reddit post revealed heavy discounts on 24-packs of premixed alcoholic drinks sold by Coles subsidiary Liquorland.
Prices dropped from around $130 to about $27, with savings reaching nearly 80%.
Many customers saw the discounts online and placed orders before the website went offline multiple times.
Coles said the mistake was due to a technical error affecting product prices on its website and app.
The company is refunding customers who were charged the incorrect prices.
Discounted items were removed from the Coles site when it came back online.
A price tracking group suggested the error may have been caused by AI searching the wrong product matches.
Similar pricing issues have happened before with Australian supermarkets, sometimes causing confusion about true discounts.

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Guardian World

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