Editor's Note: Some linked articles may be behind subscription paywalls.
1. US dollar sees worst start to the year since 1973
When it comes to the strength of the U.S. dollar, the country's currency hasn't seen as steep of a decline since 1973, according to the New York Times. In the first half of the year, the dollar has weakened 10% — with President Donald Trump's aggressive tariff and foreign policies effecting this drop in value. In 1973, the decline was due to the U.S. ending the linking of the dollar to the price of gold.
The strength of the U.S. dollar has various impacts on Americans, with it making international travel more expensive for U.S. citizens and investing in the country less attractive for foreigners. However, a weaker dollar translates to opportunities for U.S. exporters and more expensive imports.
“Having a weak dollar or a strong dollar isn’t the issue,” said Steve Englander, global head of G10 foreign exchange research at Standard Chartered. “The issue is: What is it telling you about how the world sees your policies?”
2. UK food costs rise while home prices drop
In the United Kingdom, food prices grew in June at the fastest pace since March 2024, and the country is expected to see prices continue to rise, Reuters reports. According to the British Retail Consortium, food prices increased by 3.7% compared with June last year, jumping from a 2.8% rise in May. The increase in produce prices were driven by high wholesale prices and more expensive labor costs.
Meanwhile, British housing prices fell by 0.8% last month — the biggest monthly decline in more than two years, Reuters reports. Economists polled by Reuters had originally predicted a 0.2% monthly increase.
"The softening in price growth may reflect weaker demand following the increase in stamp duty at the start of April," said Robert Gardner, chief economist at Nationwide.
3. Young hotel workers need to have career growth opportunities
According to a panel of experts at the 2025 HSMAI Commercial Strategy Conference, young hotel professionals need more than pure financial compensation to be motivated, CoStar News' Sean McCracken reported. A clear pathway to career growth is key for retention for millennial and Gen Z employees, especially in revenue and sales and marketing positions, said Steven Chrappa, director of ecommerce at the Hard Rock Hotel New York.
"It really comes down to career progression and how you can realistically show it," he said. "It doesn't have to be a title change, but if there are new projects that you can be involved in or new opportunities that you can go into, whether it's networking opportunities or organizations. But if someone's just being stagnant for two-plus years, it gets a little tough to stick around when you see your friends on LinkedIn getting promotions or moving around."
Some young employees might have unrealistic expectations for career growth, including new employees expecting promotions as quickly as six months after starting, but employers are beholden to show a pathway regardless of expectations.
4. California pulls back on environmental law
California officials rolled back the much-debated California Environmental Quality Act, an effort that was once lauded for its progressive approach to environmental protection and later became blamed for severe housing shortage and homelessness in the state, The NYT reports.
On Monday, California Gov. Gavin Newsom signed two bills "that will allow many development projects to avoid rigorous environmental review and, potentially, the delaying and cost-inflating lawsuits that have discouraged construction in the state."
The bills had bipartisan support, but was written by state Democrats, who have been blamed over the years by voters for rising prices.
“This has created a different political environment,” said Mark Baldassare, survey director for the Public Policy Institute of California. “Voters have been telling us in our polling for quite a while that the cost of housing is a big problem, but maybe for the elected officials the election itself was a wake-up call.”
5. Parts of China devastated by severe flooding
Central and southern China have suffered from heavy flooding that has killed at least nine people and displaced tens of thousands, the Associated Press reports. More rainfall is expected in these region.
The worst-hit provinces include Henan, Hubei and Guizhou, where eight people were listed as missing and overflowing rivers flooded streets, housing complexes and shopping structures.
In Austria, about 100 people were evacuated Tuesday after a mudslide covered homes and mountain huts in the Gschnitztal valley in Tyrol. Severe thunderstorms on Monday caused the mudslide, taking out homes and roads, leaving residents unable to escape, the AP reports.