CBS News - Business

Mortgage rates reach 3-year highs, pushing down housing sales

Mortgage rates have reached three-year highs, which is pushing down housing sales. Akiko Fujita has more details from Los Angeles.

Environmental groups sue Trump administration over vehicle MPG rollback

Reducing fuel-efficiency standards will raise prices at the pump and produce more harmful emissions, according to environmentalists.

American Airlines will let travelers mix cash and miles to pay for flights

As holiday airfares spike, American Airlines plans to let travelers pay for flights with a mix of cash and loyalty points.

Amazon vows to invest $1 billion in areas where it builds data centers

Amazon said it will invest $1 billion over five years to support job education, energy affordability and other priorities in communities where its data centers are located.

The AI revolution is likely to drive up your electricity bill. Here's why.

Utilities are racing to build data centers to meet surging demand for AI and other tech services. Ratepayers will pick up the tab, experts say.

Amazon Prime customers could get $200 refunds in expanded FTC deal

Some Amazon customers could receive refunds of up to $200. Here's who is eligible for a payment and when consumers will get the money.

Employers added 29,000 jobs in September, missing economic forecasts

Unemployment ticked up to 4.2% in September, while employers pulled back on hiring amid economic headwinds.

Cyber scams have targeted 9 in 10 Americans as AI fuels fraud

Cyberattacks and scams are skyrocketing due to artificial intelligence, which is making it easier for criminals to engage in fraud, the report finds.

OpenAI parts ways with 3 researchers it says mishandled sensitive information

OpenAI has parted ways with three researchers who it said violated company protocols for handling sensitive information

U.S. layoffs drop nearly 40% in 2026 to 4-year low, new data shows

Hiring plans are up 3% so far this year, signaling the labor market remains resilient, experts say.

AI agents are "very intelligent, charming sociopaths," Kevin Roose says

Noted tech journalist Kevin Roose discusses what he learned about AI in writing his new book on the race to develop "superintelligence."

Phishing Attempt: Is Your Boss Really Texting You? | Money Moves with Jill Schlesinger

Nate is back, gang! In today's episode, "CBS Mornings" co-host and former NFL player Nate Burleson joins Jill and Mark once again—this time to break down how to avoid workplace-based scams and phishing. Plus, do you really need FIVE streams of income?!

Trump sending $500 ACA refund checks to nearly 1 million Americans

Some families with more than one "affected person" could receive multiple payments via check or direct deposit, an administration official told CBS News.

Fed watchdog finds no laws broken in $2.5 billion Fed renovation

The Federal Reserve inspector general also did not find fault with features the White House had complained were "ostentatious" and not compliant with the approved plans.

NextEra-Dominion merger could jack up electricity prices, lawmakers warn

Lawmakers are warning that a massive energy industry merger could lead to higher costs for ratepayers.

New SNAP rules take effect Oct. 1, raising fears of more benefit cuts

More than 5 million Americans have lost food-stamp benefits since 2025. "I have to prove that I'm sick," one SNAP recipient said.

FTC probing Anthropic and OpenAI over AI safety threats

The regulatory agency's investigation comes amid mounting concerns that AI could pose serious risks to people.

Treasury to auto-enroll up to 60 million children in Trump Accounts

Parents will no longer have to sign up for a Trump Account to get one for their child, with auto-enrollment beginning Oct. 1.

Hawley unveils bill aimed at stopping Flock camera abuse

Sen. Josh Hawley is unveiling legislation to establish guardrails for Flock cameras and other artificial intelligence-powered surveillance technology, CBS News has learned.

Holiday flight costs hit highest level in a decade

Flying this holiday season will cost a whole lot more. Kris Van Cleave has details and how to save.

Data centers are changing America's landscape, report says

Hundreds of data centers are sprouting up across the U.S. over farmland, shrubland and forest, with thousands more on the way, according to the Washington Post.

Sam Altman unveils "dots," OpenAI's new AI personal agent

OpenAI says its new agent can schedule meetings, make travel arrangements, debug computer systems and handle other workplace tasks.

What the NFL Taught Nate Burleson About Money | Money Moves with Jill Schlesinger

What does it take to build a life and career after professional sports? Today, Jill and Mark are breaking format to sit down with "CBS Mornings" co-host and former NFL player Nate Burleson. Nate talks about his journey from the football field to television, and the financial decisions that shaped his second act. Don't…

U.S. ban on almost $1 billion in Canadian imports takes effect

The United States has banned nearly $1 billion worth of Canadian imports, including alcoholic beverages, dairy products and motorcycles.

OpenAI halts model release over safety concerns: "Didn't quite meet the bar"

OpenAI said it has chosen not to release its new GPT-6.1 Astra model due to concerns about safety, as industry leaders warn of the risks posed by ever-more-powerful AI technology.

High inflation, gas prices push Trump approval ratings down: "The polls are fake," he says

High inflation and high gas prices due to the war with Iran have pushed President Trump's approval ratings on the economy to near-record lows, which is causing headwinds for Republican candidates running this November. Nancy Cordes reports.

Peperoncini product recalled after "pest contaminant" found in jar

California food manufacturer said it is investigating after a consumer posted a video showing a rodent in a jar of the company's peperoncinis.

Holiday airfares soar to 10-year high. Here's how to save on flights.

Airfares for round-trip U.S. flights have jumped 31% compared to the same period last year, and tickets are likely to get pricier, according to a new analysis.

Gas prices could soar if the U.S. bans diesel exports, economists say

President Trump said he is "very seriously" considering a ban on diesel exports. But such a move could drive U.S. gas prices sharply higher, analysts said.

Trump administration rolls back Biden-era fuel economy standards

Regulators estimate the new rule will result in an average of 34.9 miles per gallon by model year 2031, down from an earlier projection of 50.4 mpg.

Could AI really take over the internet? Here's what experts say.

Multiple incidents of AI "agents" going rogue have conjured up fears that they could take down the internet. Should we be worried?

Nvidia announces security system to stop AI agents from going rogue

Nvidia said more than 100 organizations are using the platform, which it says could have stopped the Hugging Face hack by OpenAI agents.

YouTube, the new path to Hollywood for filmmakers

Two of Hollywood's biggest hits this year – "Obsession" and "Backrooms," horror films with tiny budgets directed by YouTube creators – have studios searching for other social media-savvy talent, making YouTube a valuable new kind of film school.

How YouTube creators are revamping Hollywood

It's been a huge year at the box office. But two of Hollywood's biggest hits came with the smallest expectations: "Obsession" and "Backrooms," horror films directed by YouTube creators on tiny budgets, which each grossed hundreds of millions of dollars – prompting studios to search for other social media-savvy talent…

TikTok settles lawsuit over youth safety concerns for at least $100 million

Alabama sued the social media company in 2025, claiming the platform had negative effects on the mental well-being of youths.

How GLP-1 weight-loss drugs are changing fast-food menus

Chipotle, McDonald's and Shake Shack are among the restaurant chains revamping their menus as more consumers go on weight-loss drugs.

Ready or not, here come the AI gadgets, from "charms" to smart speakers

Meta, Microsoft and other major tech companies are developing a range of AI products for consumers, from wearables to speakers.

Facebook found liable for deceiving users in Cambridge Analytica case

The two-week trial in New Mexico centered on accusations Facebook deceived users about a data breach.

Soaring U.S. diesel prices slam local communities as fuel costs surge

The surge in diesel prices this year is putting a financial squeeze on schools, farms and small businesses around the U.S.

New bill would lower Social Security retirement age for some workers

Workers in physically demanding jobs should be able to collect full Social Security retirement benefits at age 60, a Michigan lawmaker says.

Why the bond market is freaking out, and what it means for your money

Investors are increasingly nervous about rising inflation, which could require the Federal Reserve to hike interest rates.

Mortgage rates are back above 7%. How much higher could they climb?

Rates are "far more likely to go up than down by the end of the year," a senior economist at Realtor.com told CBS News.

Will an FDA crackdown curb access to cheaper GLP-1 weight-loss drugs?

The FDA has warned a major compounding pharmacy that it violated federal law by making copies of blockbuster weight-loss drugs in "inordinate amounts."

Small businesses roll the dice on Kalshi to manage their risks

Hundreds of small businesses are using the prediction market to hedge against a range of business risks, according to Kalshi. Here's how.

Wastin' Away Again in Margaritaville… With No Estate Plan?! | Money Moves with Jill Schlesinger

Why are Jill and Mark doing a deep dive on Margaritaville? Well, three years have passed since Jimmy Buffett died, and his family is still fighting over a $275 million estate. In today's episode, Jill and Mark explain why estate planning is essential and why you don't need to be rich to need a trust. Plus, how did…

Disney is raising prices for Disney+ and Hulu. See the breakdown.

The price hikes for new subscribers are effective immediately. Existing subscribers' plans will go up next month.

Tips for taking care of your life insurance

Nearly 47% of American households say they feel financial hardship after a primary wage earner dies, according to a recent survey, which is where life insurance comes in. Jill Schlesinger joins with more.

Social Security tax hike "financially impossible" for many, expert says

Raising payroll taxes enough to stabilize Social Security could add thousands of dollars in annual costs, according to one analysis.

Mortgage rates top 7% for the first time since May 2024

As rates climb, more buyers are seeking riskier adjustable-rate mortgages, according to the Mortgage Bankers Association.

Online sports bettor says gambling now is "like crack in the '80s"

A CBS News investigation into sports gambling found that companies like FanDuel push hard to keep gamblers engaged and wagering, even as their losses pile up. Jim Axelrod has more.

Meta's Muse shopping agent is a hit, as AI commerce starts to take off

Meta's new AI tool now ranks at the top of the App Store. Some retail experts see a "natural evolution from search."

Andreessen Horowitz launches AI school as college alternative

One of Silicon Valley's most prominent venture investors is gearing its new tech academy toward aspiring entrepreneurs focused on building AI.

3 guys hacked OpenAI using a rival Anthropic model. Here's what to know.

Cybersecurity researchers from a small firm called Hacktron in India broke into OpenAI, showing how vulnerable frontier labs are.

Diesel prices just hit a new record. Would a U.S. export ban bring relief?

Some lawmakers want to halt U.S. diesel exports as prices top $6.50 a gallon. But such a ban could have unintended consequences, experts say.

Have an Apple iPhone 15 or 16? How to file a claim for up to $95.

The claims window is open until Dec. 21, 2026. To file a claim, iPhone users must enter basic personal info and their iPhone's serial number.

$4.99 Rotisserie Chicken and the Economics of Loss Leaders | Money Moves with Jill Schlesinger

What is an "AI swarm," and why is it giving tech experts nightmares?

AI "agents" show a remarkable ability to share information and knowledge with other bots. That should worry us.

Paramount Skydance reaches settlement with states over Warner Bros. merger

Selling early access to Trump Truth Social posts is illegal, ex-prosecutors say

Paramount Skydance reaches antitrust deal with states over Warner Bros. Discovery purchase

Bill Gates says Trump's AI views point to societal blind spot

Converse pulls sneaker ad after critics say it uses racist imagery

Nike-owned Converse acknowledged that an ad for its Chuck Taylor sneaker is "deeply upsetting."

Nvidia's Jensen Huang rejects AI extinction fear as "doomsday narratives"

Predictions that AI could destroy humanity in a few years are irresponsible and not based on science, Nvidia's co-founder told CBS News.

The addiction of online sports gambling: "Like crack in the '80s"

How Apple's risky retail venture made profits boom

AI security experts say they used Claude to hack ChatGPT

Nvidia CEO calls for AI to be developed "as fast as we can"

Mortgage rates are nearing 7%. One house hunter says he's "despondent."

Increased ICE enforcement in 2025 hurt local employment, analysis finds

Warren Buffett stepping aside as Berkshire Hathaway chairman

195,000 heated blankets recalled after dozens of burn injuries

The manufacturer has received hundreds of reports of blankets "smoking, melting or burning" due to overheating, according to a recall notice.

1 in 3 Americans with health insurance have medical debt, survey finds

No relief in sight for U.S. drivers as gas and diesel prices surge

What the Fed's rate hike reveals about Warsh, Trump and inflation

How an interest rate hike impacts you

Will the AI Bubble Hit Your Wallet? | Money Moves with Jill Schlesinger

Millionaires are everywhere in the U.S., new book says

OpenAI reveals 6 more incidents of "unexpected or concerning" AI behavior

Federal Reserve raises interest rates for the first time since 2023

How much time does AI save at work? New Census Bureau data breaks it down.

AI "agents" can do your shopping. Should you let them?

AI could make people dull, one scientist fears. Here's why.

AI companies must ensure their tech is safe, says top Trump adviser on AI

The AI bubble is leaking air, some economists say. Should investors worry?

AI doesn't have rights or feelings, Microsoft's AI chief says

OpenAI backs measure that would require independent audits of AI models

Amazon raises starting pay to $20 an hour and adds Whole Foods perks

Fed rate hike expected on Wednesday. See what it means for your money.

Diesel prices hit all-time high

Own a car? You're getting socked by higher prices, and not only for gas

Americans' incomes hit a record high in 2025. Now for the bad news.

Your home heating oil bill is likely to jump this winter. Here's why.

OpenAI, Anthropic warn AI cyberattacks could surge in coming months

Former SpaceX welder becomes a millionaire after historic IPO

Juan Hernandez, a former SpaceX employee, owns 6,500 company shares. On the first day of public trading, his wealth ballooned by $1,046,175.

As SpaceX IPO launches, Texans near its Starbase HQ are mixed on the company

SpaceX's arrival in the region has been good for business, some Brownsville, Texas, residents say, while others rue its impact on the local community.

These are the best airlines in 2026, according to The Points Guy

The Points Guy's annual ranking gives extra weight to affordability this year as higher fuel costs and airline fees squeeze travelers.

For some older Americans, retirement today means unretiring

Nearly 20% of Americans of retirement age are employed or seeking employment. "You have to eat," said one 69-year-old of her reasons for continuing to work.

U.S. shoppers should brace for impact of higher oil prices, experts say

Experts warn that surging energy costs are likely to ripple through U.S. supply chains, resulting in higher prices online and in stores.

Romance costs more this year as inflation lifts Valentine's Day gift prices

Love is biting consumers this year amid the rising cost of flowers, chocolates and other Valentine's Day staples.

Walmart heiress' "No kings" protest ad sparks backlash against retailer

Walmart heiress' ad is prompting backlash against the retailer despite it not being associated with the company.