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John Cangialosi, Senior Hurricane Specialist at the National Hurricane Center, inspects a satellite image of Hurricane Beryl, the first hurricane of the 2024 season, at the National Hurricane Center on July 1, 2024 in Miami, Florida.Joe Raedle | Getty Images News | Getty ImagesGovernment scientists on Thursday released a forecast for the 2025 hurricane season, predicting a 60% chance it will be an above-average season.The National Oceanic and Atmospheric Administration, or NOAA, predicts this season will bring 13 to 19 named storms with winds 39 miles per hour or higher. It predicts six to 10 of the forecasted storms will…

People bidding to buy Pope Leo XIV’s modest childhood home in Illinois could face some stiff competition — from the local government.The innocuous three-bedroom, three-bathroom home in the Village of Dolton was thrust into the spotlight when Pope Leo XIV became the leader of the Catholic Church.The current homeowner purchased the property in May 2024 for $66,000, listed it for $219,000 in January, and dropped the price to $199,900 in February.After the pope’s appointment on May 8, the owner, inundated with offers and new options, delisted the home until last week when it was put up for auction through Paramount…

Key features of Trump-backed House GOP budget bill – CBS News Watch CBS News The House delivered President Trump a narrow win on his budget bill Thursday. Lawmakers approved the legislation by a 215-214 vote after a marathon overnight session. CBS News congressional correspondent Nikole Killion has the details. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

The far-reaching tax legislation that passed early Thursday morning in the House included a provision that would transfer the responsibilities of the Public Company Accounting Oversight Board to the Securities and Exchange Commission, effectively eliminating the PCAOB.The House Financial Services Committee passed a bill at the end of April that would transition the PCAOB’s responsibilities to the SEC within one year of enactment, and it was included as part of the overall tax package, which is now headed to the Senate. PCAOB chair Erica Williams has been speaking out against the proposal ever since the bill emerged in the House committee…

Fears of higher prices caused by President Donald Trump’s tariffs unleashed a burst of spending earlier in the year, but that’s winding down—and the forecaster for shoppers to turn thrifty could weigh on the economy in the coming months. Retail sales rose 0.1% in April, down from the prior month’s 1.7% increase. Credit and debit card users look like they’ve been slowing their spending since late April, Bank of America said. Card spending eased from 1.1% year-over-year growth in March to 1% year-over-year growth in the back half of April. And over the first two weeks of May, spending growth…

Brian Chesky is no stranger to starting a business in tough economic times.Chesky cofounded Airbnb in 2007 and built the business during the 2008 financial crisis. In a recent podcast conversation with Michelle Obama and her brother, Craig Robinson, Chesky said it was challenging to get the business off the ground during a recession, even with some of the advantages and connects he and his founders had that other entrepreneurs might not have.However, he said there was one “silver lining” to growing the business during tough times, which might resonate with founders facing today’s economic uncertainty.”A lot of great companies have…

How House GOP passed Trump’s budget bill after infighting; Where its path lies in Senate – CBS News Watch CBS News House Republicans passed President Trump’s budget bill by a single vote early Thursday morning. Leigh Ann Caldwell, chief Washington correspondent for Puck News, and Juliegrace Brufke, Capitol Hill reporter for 24sight News, join “America Decides” to discuss how the legislation came together after last-minute changes and its chances in the Senate. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Some U.S. homeowners may soon get a sizable tax break thanks to the massive budget package that was passed by the House early Thursday. The legislation — dubbed the  One Big Beautiful Bill Act — includes a provision that would lift the tax deduction cap for state and local taxes, or SALT, to $40,000 from its current $10,000 limit. That could provide tax savings for homeowners with high property taxes or who earn enough to have significant state income tax liabilities.The SALT deduction cap was introduced by Mr. Trump in his 2017 Tax Cuts and Jobs Act as a way to…

The FAA Air Traffic Control tower at Newark Liberty International Airport in Newark, New Jersey on May 7, 2025. Kena Betancur | AFP | Getty ImagesAmerican Airlines chief financial officer said Thursday that some travelers are avoiding Newark Liberty International Airport for other options in the area after a spate of recent disruptions, but cautioned that the impact is “modest.””There probably is some amount of book-away from Newark flights over into LaGuardia, JFK, maybe Philadelphia to a lesser extent,” CFO Devon May said at the Wolfe Research conference.The Federal Aviation Administration this week ordered airlines to temporarily cut flights at…

Donald Trump has moved a big step closer to fulfilling a key objective of his second term with the passage of his sweeping, “big beautiful” tax bill by a slim majority in the House of Representatives. However, while Trump and his Republican allies celebrated after the bill passed by a single vote early on Thursday morning, the legislation could become a poisoned chalice for the president and his party. The bill, which extends Trump’s 2017 tax cuts before they run out at the end of the year and slashes spending on the social safety net, risks being seen as a…