Analyzing latest economic data
Layoffs across the U.S. soared last month, marking the worst October cuts in 22 years, according to the firm Challenger, Gray and Christmas. CBS News MoneyWatch correspondent Kelly O'Grady breaks it down.
Credit Card Debt
Tips to pay off your debt
A new Federal Reserve report shows total household debt is more than $18 trillion, which is equivalent to nearly half the size of the U.S. economy. CBS News business analyst Jill Schlesinger has tips to help you cut down on your debt.
Why some families give kids credit cards
More parents are getting a head start on establishing their kids' credit ratings. CBS News national consumer correspondent Ash-Har Quraishi reports.
Tips for paying off credit card debt
U.S. credit card debt is hitting near-record highs. Stefanie O'Connell Rodriguez, a financial advice writer, joins CBS MoneyWatch with tips on how to manage your debt. (Sponsored by AT&T Business)
Americans struggling with credit card debt
A report from the Philadelphia Federal Reserve shows a record-high number of Americans are only paying the minimum monthly payment on their credit card bills, peaking at nearly 11% of all accounts in the third quarter of 2024. Ted Rossman, senior industry analyst at Bankrate, joined CBS News to discuss the issue.
Most Americans can't afford a $1,000 emergency expense, report finds
Nearly 60% of Americans don't have enough money put away to handle common financial emergencies, according to Bankrate.
Tips for paying off debt
With nearly half of Americans carrying credit card balances month-to-month, CBS News business analyst Jill Schlesinger provides tips on how to pay down debt.
Impact of increase in credit card defaults
New data shows rising default rates on credit card loans. Card lenders wrote off $46 billion in debt in the first nine months of the year, the highest since 2010. CBS News MoneyWatch correspondent Kelly O'Grady explains the alarming data.
Senate GOP members fight for leadership role
CBS News estimates that control of the House of Representatives is lean Republican. Meanwhile, the GOP flipped the Senate with longtime leader Mitch McConnell stepping down from the role. CBS News congressional correspondent Nikole Killion has more.
Here's how the Fed's rate cut could impact your credit card balance
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
Nearly half of Americans don't know their credit card APRs
Here's how not knowing what your credit card interest rate is can hurt you financially.
U.S. consumers rack up record $1.14 trillion in credit card debt
Consumers tacked on an additional $27 billion in credit card spending in the second quarter, the Federal Reserve Bank of New York said.
Judge halts plan to cap credit card late fees
A federal judge in Texas Friday temporarily halted a Biden administration rule that would cap credit card late fees at $8, about a quarter of what they are now. Credit card companies receive about $14 billion in late fee payments per year, according to the Consumer Financial Protection Bureau. Elise Preston has more.
Biden administration caps credit card late fees at $8
The Biden administration has introduced a rule capping credit card late fees at a maximum of $8, a sharp decrease from the current $32 average. This comes as a new task force is set to address illegal and unfair pricing practices in essential sectors like groceries, prescription drugs, health care and housing. CBS News business analyst Jill Schlesinger offers an in-depth analysis of what these changes mean for consumers.
Biden announces credit card late fee cap of $8
President Biden on Tuesday announced credit card late fees will be capped at $8, down from around $32. Nikki Battiste has the details.
Credit card debt in the U.S. soars to a new record. Here's why.
Credit card debt hit a record $1.13 trillion at the end of 2023, while delinquencies have surged more than 50% from a year ago.
1 in 3 Americans have more credit card debt than emergency savings
If faced with a sudden loss of income, more than half of Americans say they worry they wouldn't have enough savings to cover a month's living expenses.
56 million credit cardholders have been in debt for at least a year
American consumers' combined outstanding credit card balances hit a record $1 trillion in 2023, miring many people in debt.
Shoppers opened their wallets this holiday, defying fears of pullback
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Rate hike pause could be good for your 401(k)
An end to the interest rate hike cycle may be in sight with inflation cooling. Al Root, a senior writer at Barron's, breaks down how the rate hike pause could positively impact your retirement savings plans.
Retail credit card APRs rise to record highs, topping 30%
According to a Bankrate survey, the average retail card APR is now 28.93%, with some retail credit cards charging 32.24%.
Credit card APRs are surging ever higher. Here's how to get a lower rate.
More than a third of credit cards now carry APRs of nearly 30%. But to get a lower rate, often all you have to do is ask.
Republican lawmaker proposes 18% cap on credit card interest rates
U.S. Senator Josh Hawley's bill comes as Americans have been saddled with more than $1 trillion in credit card debt.
Are medical credit cards worth it?
More Americans are turning to medical credit cards as they struggle to pay for medical bills, according to a new survey from the Consumer Financial Protection Bureau. CBS News MoneyWatch associate managing editor Aimee Picchi explains how the cards could impact your credit.
Why U.S. credit card debt increased
U.S. credit card debt surpassed $1 trillion this week, according to new data from the Federal Reserve Bank of New York. Michelle Lambright Black, the founder of creditwriter.com, explained the factors contributing to the increase in credit card debt among Americans and provided tips on how to pay down the balances.
Tony Dokoupil: Don't just trust me. Make me earn it.
"You come first," declares the new anchor of the Evening News. "Not advertisers. Not politicians. Not corporate interests — including the new owners of CBS."
Fire kills dozens at crowded Swiss Alps bar on New Year's
Police in Switzerland say a fire at a bar in the Crans-Montana ski resort area is believed to have left about 40 people dead and dozens more injured.
NYC Mayor Zohran Mamdani addresses New Yorkers at public inauguration
Zohran Mamdani was sworn in early Thursday as the 112th mayor of New York City. The democratic socialist is the city's first Muslim mayor, as well as one of its youngest ever.
Trump says he underwent CT scan, not MRI, during October examination
"In retrospect, it's too bad I took it because it gave them a little ammunition," President Trump told The Wall Street Journal.
U.S. reduces proposed tariffs on Italian pasta, Italy says
Steep U.S. import duties targeting 13 Italian pasta makers will be sharply reduced, Italy's foreign ministry said on Jan. 1.
Price hikes hit ACA health insurance plans as subsidies expire
Enhanced tax credits that have helped Americans offset the cost of Affordable Care Act health insurance for the last four years expired overnight.
Everything we know about Minnesota's massive fraud schemes
A viral social media video has put Minnesota's long-running fraud scandal at the center of the national conversation. Here's what to know.
At least 6 reported killed during Iran protests over struggling economy
The deaths may mark the start of a heavier-handed response by Iran's theocracy over the demonstrations, which have slowed in Tehran but expanded elsewhere.
Coast Guard searches for 77-year-old woman who went overboard from cruise ship
The woman was a passenger on the Nieuw Statendam cruise ship, which was roughly 40 miles northeast of Sabana, Cuba, when she went overboard, the Coast Guard said.
U.S.
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After Swiss Alps bar fire, a look at America's past nightclub and bar fires
A look at bar and nightclub fires in the United States with significant death tolls and similar risks that led to the tragedies.
U.S. says China military drills near Taiwan "increase tensions unnecessarily"
Chinese war games around Taiwan "unnecessarily" spiked tensions in the region, the U.S. State Department said, calling on Beijing to "cease its military pressure."
Trump says he underwent CT scan, not MRI, during October examination
"In retrospect, it's too bad I took it because it gave them a little ammunition," President Trump told The Wall Street Journal.
Coast Guard searches for 77-year-old woman who went overboard from cruise ship
The woman was a passenger on the Nieuw Statendam cruise ship, which was roughly 40 miles northeast of Sabana, Cuba, when she went overboard, the Coast Guard said.
U.S. reduces proposed tariffs on Italian pasta, Italy says
Steep U.S. import duties targeting 13 Italian pasta makers will be sharply reduced, Italy's foreign ministry said on Jan. 1.
MoneyWatch
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U.S. reduces proposed tariffs on Italian pasta, Italy says
Steep U.S. import duties targeting 13 Italian pasta makers will be sharply reduced, Italy's foreign ministry said on Jan. 1.
Trump administration delays tariff increases on furniture, kitchen cabinets
The one-year delay comes as President Trump has rolled back some other import duties amid affordability concerns.
Price hikes hit ACA health insurance plans as subsidies expire
Enhanced tax credits that have helped Americans offset the cost of Affordable Care Act health insurance for the last four years expired overnight.
What's open on New Year's Day 2026? See which stores are operating.
Banks, post offices and major stock exchanges will be closed in observance of the federal holiday, but some stores are open.
Federal appeals court blocks Hawaii's tourist tax on cruise ships
The levy, which would impose a new 11% tax on the gross fares paid by a cruise ship's passenger, was set to go into effect at the start of 2026.
Politics
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White House aiming to get final approval for Trump-backed ballroom by March
The Trump administration is aiming to move a planned 90,000-square-foot White House ballroom through the federal government's review process at a rapid clip, with final approvals as soon as early March.
U.S. says China military drills near Taiwan "increase tensions unnecessarily"
Chinese war games around Taiwan "unnecessarily" spiked tensions in the region, the U.S. State Department said, calling on Beijing to "cease its military pressure."
Trump says he underwent CT scan, not MRI, during October examination
"In retrospect, it's too bad I took it because it gave them a little ammunition," President Trump told The Wall Street Journal.
Trump administration delays tariff increases on furniture, kitchen cabinets
The one-year delay comes as President Trump has rolled back some other import duties amid affordability concerns.
Price hikes hit ACA health insurance plans as subsidies expire
Enhanced tax credits that have helped Americans offset the cost of Affordable Care Act health insurance for the last four years expired overnight.
HealthWatch
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Price hikes hit ACA health insurance plans as subsidies expire
Enhanced tax credits that have helped Americans offset the cost of Affordable Care Act health insurance for the last four years expired overnight.
Some states ban junk food from SNAP benefits
In 2026, several states are set to prohibit individuals from purchasing certain junk food items using their federal benefits. Meg Oliver has the details.
Flu cases spiking this holiday season, CDC data shows
The Centers for Disease Control and Prevention says 32 jurisdictions are showing "high" or "very high" levels of flu.
New California tortilla law aims to decrease birth defects in Latino babies
Mom-and-pop shops will be exempt from this change, but big manufacturers in California will need to start adding folic acid to tortillas beginning January 1.
Advances in treatment for Alzheimer's disease
The number of Americans with Alzheimer's disease is expected to double from 7 million in 2020 to 14 million by 2060, according to the CDC. However, advances in treatment options are giving more people hope in slowing the decline. Dr. Jon LaPook breaks it down.
World
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U.S. says China military drills near Taiwan "increase tensions unnecessarily"
Chinese war games around Taiwan "unnecessarily" spiked tensions in the region, the U.S. State Department said, calling on Beijing to "cease its military pressure."
At least 6 reported killed during Iran protests over struggling economy
The deaths may mark the start of a heavier-handed response by Iran's theocracy over the demonstrations, which have slowed in Tehran but expanded elsewhere.
Pope starts 2026 with prayer for countries "bloodied by conflict"
Pope Leo XIV celebrated a New Year's Day Mass in St. Peter's Basilica and then delivered a special noontime prayer from his studio overlooking the piazza.
Fire kills dozens at crowded Swiss Alps bar on New Year's
Police in Switzerland say a fire at a bar in the Crans-Montana ski resort area is believed to have left about 40 people dead and dozens more injured.
France defends granting George Clooney and his family French citizenship
George Clooney and his wife, Amal Clooney, were granted French citizenship because "they contribute, through their distinguished actions, to France's international influence and cultural outreach," the French government said.
Entertainment
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France defends granting George Clooney and his family French citizenship
George Clooney and his wife, Amal Clooney, were granted French citizenship because "they contribute, through their distinguished actions, to France's international influence and cultural outreach," the French government said.
Notable works entering the public domain in 2026
Here are the significant books, films and characters joining the list of works in the public domain on Jan. 1, 2026.
Noah Wyle on authenticity of "The Pitt"
The hit series "The Pitt" has earned praise for its realistic look at the pressures facing health care workers. Chief medical correspondent Dr. Jon LaPook spoke to the star of the show, Noah Wyle, for "CBS Sunday Morning." Wyle talked about how the cast prepared for their roles beyond learning their lines before shooting the series even began.
Here's who's performing on New Year's Eve to ring in 2026
Here's what to know about the lineup of performances scheduled for New Year's Eve, as crowds gather in Times Square to ring in 2026.
Isiah Whitlock Jr., actor known for his roles in "The Wire" and "Veep," dies at 71
Isiah Whitlock Jr. is perhaps best known for his role as state Sen. R. Clayton "Clay" Davis on HBO's "The Wire."
Technology
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Technology
Economic oasis emerges in the Arizona desert
Arizona is fast becoming a major hub for computer chip production thanks to what's being called the largest foreign direct investment in U.S. history. Kris Van Cleave takes us to a sprawling campus in Phoenix that is providing thousands of jobs while reducing America's reliance on overseas products.
OpenAI hiring for head safety executive to mitigate AI risks
The company's investment in safety prevention comes amid growing concerns over the potential harm of artificial intelligence.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Instacart ending AI price tests for retailers
Instacart says its ending its controversial system of using AI price tests for retailers. Earlier this month, an investigation by Consumer Reports and progressive think tank Groundwork Collaborative found that Instacart's algorithmic pricing charged various prices for the same item from the same store. Jo Ling Kent reports.
Tech companies push for data centers
Massive tech companies wanting to build more data centers in the U.S. are lobbying for support among Americans, according to a recent report by POLITICO. Gabby Miller joins CBS News with more on her reporting.
Science
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2025 was so hot it pushed Earth past critical climate change mark
2025 was the third hottest year on record and pushed Earth past a critical climate change mark, scientists say.
Major climate research center on Trump administration chopping block
The Trump administration intends to dismantle one of the world's leading climate research institutions, in Boulder, Colorado, over what it said were concerns about "climate alarmism."
Researchers capture video of rare polar bear adoption
The footage of a bear caring for an adopted cub was captured during the annual polar bear migration along the Western Hudson Bay in Churchill, Manitoba.
Dinosaur tracks showing "herds moving in synchrony" found in Italy
Most of the footprints are elongated and made by bipeds. The best-preserved ones bear traces of at least four toes.
Interstellar comet is making its closest approach to Earth
NASA continues to aim its space telescopes at the visiting ice ball, estimated to be up to 3.5 miles in size.
Crime
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Crime
Fallout grows over freezing of child care funds
After the Trump administration paused federal assistance to child care centers in Minnesota, parents are now wondering if their kids' day care is in jeopardy, as the government investigates fraud claims. Jonah Kaplan has been following this developing story.
Epstein survivors decry delay in releasing files
There may be millions of documents the Justice Department still needs to release from the case against convicted sex offender Jeffrey Epstein. By law, those files were required to be made public nearly two weeks ago. Scott MacFarlane has the latest.
Day care in Minneapolis vandalized after viral video purporting fraud
A Minneapolis day care says that vandals damaged the facility early this week, after a YouTube video purporting to expose fraud among day cares in the Twin Cities metro area went viral.
New details on charges against Stefon Diggs
Patriots star Stefon Diggs is facing charges of strangulation, assault and battery following an incident in Massachusetts earlier this month. Diggs' attorney, David Meier, said in a statement that the wide receiver "categorically denies" the allegations and "looks forward to establishing the truth" in court. CBS News Boston's Aaron Parseghian has more.
New Orleans marks 1 year since terror attack
New Orleans is marking one year since 14 people were killed and dozens more were injured in a terror attack on the city's iconic Bourbon Street. Kati Weis spoke to the family of one of the victims about how they're remembering their loved one.
Space
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Space
NASA's search for next lunar rover
NASA astronauts took their first drive on the moon 54 years ago. Now, three companies are competing for a NASA contract to build a new lunar rover for use starting with the Artemis 5 mission in 2030. Kris Van Cleave reports.
Artemis 2 astronauts rehearse countdown for upcoming moon launch
NASA is gearing up to send four Artemis astronauts on looping test flight around the moon in 2026.
Woman is first wheelchair user launched into space
A German aerospace engineer made history Saturday, becoming the first wheelchair user to go into space when she took a 10-minute trip aboard a Blue Origin rocket.
Blue Origin safely launches wheelchair user to space and back
German engineer Michaela Benthaus is the first person with a significant physical handicap to reach space.
Jared Isaacman, billionaire who's flown with SpaceX, confirmed to lead NASA
President Trump withdrew Isaacman's nomination for NASA administrator in April, before nominating him again in November.
Latest Galleries
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Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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Latest CBS News Videos
Millions facing health care cost increases
Enhanced tax credits that have helped reduce the cost of health insurance for the vast majority of Affordable Care Act enrollees expired overnight as 2026 arrived, cementing higher health costs for millions of Americans at the start of the new year. Nicole Sganga reports.
Protests erupt in Iran over economic crisis
In Iran, some are protesting the rising cost of living and clashing with security forces in a number of cities. Elizabeth Palmer has the latest.
Mamdani starts historic term as NYC mayor
Zohran Mamdani was publicly sworn in as the 112th mayor of New York City on New Year's Day. Meg Oliver reports.
Extreme weather grips U.S. as the new year begins
Heavy snow and a rare thundersnow hit the Northeast as flooding rain soaks parts of California and a deep freeze reaches the South. Carter Evans and John Elliot have more.
Survivors recount Swiss Alps ski resort fire
A night of celebration in the Swiss Alps ended in tragedy after a fire tore through a ski resort bar, killing at least 40 people and injuring dozens more. Ramy Inocencio reports.