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1. EU delays US tariff response to continue trade talks
European Commission President Ursula von der Leyen announced Monday that the 27-member bloc will pause its planned countermeasures to the U.S. tariffs, CNBC reported.
Originally slated to go into effect this week, the European Union's reciprocal trade policy will be suspended for six months in order to continue conversations to finalize a trade agreement between the U.S. and the E.U., an unnamed spokesperson said in the article.
The spokesperson said the agreement in discussion is aimed at restoring “stability and predictability for citizens and businesses on both sides of the Atlantic.”
2. Majority of US adults feel stressed about grocery prices
According to a new poll from The Associated Press-NORC Center for Public Affairs Research, around half — 53% — of Americans say grocery prices are a “major” source of stress for them while another 33% say it’s a “minor” source of stress, the AP reported. Only 14% say it's not a source of stress.
Meanwhile, other financial stressors such as the cost of housing or amount in bank accounts are still prominent, but mostly felt by younger Americans.
"The survey also found that about 4 in 10 Americans under age 45 say they’ve used what are known as 'buy now, pay later' services when spending on entertainment or restaurant meals or when paying for essentials like groceries or medical care," the news agency reports.
3. Marriott cuts full-year revenue forecast
Despite Marriott International beating its second-quarter financial result estimates, the company lowered its annual revenue-per-available-room outlook for the full year, CoStar News' Bryan Wroten reports.
Marriott now expects global RevPAR to be flat to up 1% in the third quarter and up 1.5% to 2.5% for the full year, Leeny Oberg, chief financial officer and executive vice president of development, said on the call. The previous full-year outlook was 1.5% to 3.5% RevPAR growth.
Meanwhile, Marriott President and CEO Tony Capuano said international revenue per available room grew by more than 5%, led by growth in the Asia-Pacific, Europe, Middle East and Africa regions.
4. US proposes up to $15,000 bond for visa applicants
The U.S. Department of State is looking at a new program to prevent U.S. visitors overstaying their visas, the AP reports. According to a notice posted to the Federal Register on Tuesday, the department will launch a 12-month pilot program that will require "nationals of countries identified by the department as having high visa overstay rates, where screening and vetting information is deemed deficient" to pay a bond of $5,000, $10,000 or $15,000 when applying for a visa.
It's the latest measure announced from the State Department, which shared last week that it will begin to require an in-person interview for many visa renewal applicants. The department has also proposed a new requirement that applicants for the Visa Diversity Lottery program have valid passports from their country of citizenship.
The bond pilot program would go into effect within 15 days of its formal publication and the countries it would affect would be listed once the program begins.
5. Late-summer flights 'unseasonably affordable'
The end of summer usually brings lower travel prices compared to earlier in the season, but The New York Times reported that this August and September offer even bigger savings than last year.
Flights are “unseasonably affordable,” said Katy Nastro, an expert at Going, a membership service for cheap airfares. “Now is the time for the reluctant traveler, especially those who weren’t sure if they could afford an international trip this summer.”
In their recent earnings reports, a handful of airlines have pointed to global tensions and inconsistent demand driving uncertainty for travelers.
"Main cabin airfares are down across destinations for late summer, but international travel boasts the best deals, according to several online travel agencies," reads the article, citing online booking platform Kayak. "International flights from the United States are hovering around $875 for economy, round-trip travel, down 11% from last summer."