Senate proposes big change to Social Security, SALT income tax deduction

Melinda French Gates is stepping into a bold new phase of her life, and Bloomberg’s Emily Chang sat down with her in Seattle to talk about it. Fresh off her high-profile divorce from Bill Gates, she’s carving out her own identity as a major force in philanthropy—focusing on issues like gender equality and global health with the kind of influence and resources few can match. It’s a candid look at how she’s redefining her legacy.

Editor’s Note: Melinda’s story isn’t just about moving on—it’s about leveraging her platform to drive real change. With her track record and deep pockets, her next moves could reshape entire sectors, from women’s rights to healthcare. For anyone interested in how power and money intersect with social impact, her journey is one to watch.

The UK government is ramping up plans to temporarily take Thames Water back into public ownership, according to Environment Secretary Steve Reed. He also made it clear that creditors hoping for reduced fines or penalties won’t get any special treatment—those demands are being shut down.

Editor’s Note: Thames Water’s financial mess has been dragging on for ages, and this move signals the government’s losing patience. Nationalisation isn’t a small step—it’s a big deal for customers, taxpayers, and the wider debate over who should control essential services. If it happens, it could set a precedent for other struggling utilities.

The financial outlook for Social Security and Medicare is worse than we thought—both programs are running out of money faster than earlier estimates predicted. Experts say this means lawmakers need to act soon to shore them up, but these programs have been in trouble for years with little progress on fixes.

Editor’s Note: If you're counting on Social Security for retirement or Medicare for healthcare as you age, this isn't great news. The programs aren’t disappearing overnight, but the clock is ticking for Congress to make tough decisions—whether that means raising taxes, cutting benefits, or something else. The longer they wait, the harder it gets.

The Bank of England kept interest rates steady today, but it wasn’t a unanimous decision—three members pushed for a cut. Meanwhile, they flagged growing global risks, especially from the Middle East conflict, which is driving energy prices higher. In a surprise move, Norway’s central bank cut its rates, bucking expectations as inflation cools there.

Editor’s Note: This isn’t just about dry economic policy—it’s a sign of how global instability (like Middle East tensions) is creeping into everyday costs, from gas bills to loans. The split vote at the BoE hints at growing debate over whether high rates are still needed, while Norway’s cut shows some countries are shifting gears. For regular folks, it’s a reminder that what happens oceans away can hit your wallet.

Amazon’s got a deal on a beach bag that’s half off—down to $20 from $40—and it’s not just any tote. This one doubles as a cooler, which, according to the description, was a summer lifesaver for at least one shopper. Basically, it’s a two-for-one for beachgoers or picnic lovers who don’t want to lug around separate bags and coolers.

Editor’s Note: Let’s be real—anything that saves space, money, and hassle is a win, especially when it comes to summer essentials. A bag that keeps your drinks cold while hauling your sunscreen and towels? That’s the kind of practical hack people actually want to hear about. Plus, a 50% discount makes it a no-brainer for anyone prepping for a last-minute trip or just stocking up for next year.