The Daily Money: Where's the beef? At McDonald's.
Good morning! It's Daniel de Visé with your Daily Money.
Where's the beef? This week, at McDonald's.
A boycott targeting the fast-food chain, slated to begin today, is the latest in a series of consumer actions from the grassroots advocacy group The People's Union USA.
Here's more on the boycott and its goals.
The rising challenge of finding affordable homes
A new report from one of the nation's premier housing research groups confirms what many of us already know: Residential real estate is pulling further away from ordinary Americans, becoming more expensive, less attainable, and increasingly stymying efforts to make a market that works for everyone.
The State of the Nation's Housing 2025, from the Joint Center for Housing Studies of Harvard University, lays out the numbers in stark detail.
Health insurers take aim at prior authorizations
Large health insurance companies have vowed to reform a common tool they use to vet requests before letting doctors bill for medical services or prescriptions.
UnitedHealthcare, Blue Cross Blue Shield, Cigna, Kaiser Permanente, Humana and other health insurance companies on June 23 announced plans to "streamline, simplify and reduce prior authorizations."
Here's how prior authorizations work, and what's changing.
📰 More stories you shouldn't miss 📰
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
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One chart shows how brutal the housing market has become for first-time buyers
Even as fresh data points to the US housing market turning in buyers' favor, first-time buyers are still struggling to break in. Torsten Slok, the chief economist of Apollo Global Management, recently highlighted just how tough it is for people looking to get into the housing market, with the share of first-time buyers plummeting in the last 15 years. "In 2010, 50% of all homes sold were purchased by first-time home buyers. Today, the share is 24%." The data is a stark reminder that buyers and sellers are at a stalemate midway through 2025. Even as housing inventory piles up across the country, prices aren't budging and rates remain restrictive. Redfin reported recently that there was a record $700 billion in unsold housing stock in the US in April, a month when prices rose 17%. Meanwhile, new home sales plunged by almost 14% in May, another datapoint showing the deep freeze that the US housing market has fallen into. In its US Housing Outlook, published May 2025, Apollo said that 44% of consumers believe that "this is a bad time to buy a house because of high mortgage rates and tight credit." It also noted that 34% of Americans have said that if they were to move, they would rent. Part of the problem is the so-called lock-in effect. Current homeowners are hesitant to sell as they cling to the low rates they locked in during the era of low rates during the pandemic. Meanwhile, economic uncertainty is still high as the US economy navigates tariffs and the outlook for interest rates remains clouded, adding to difficulties for buyers trying to enter the housing market.
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Robinhood grows its global crypto footprint with U.S. stock tokens for the EU
CANNES — Fifteen years after flipping burgers at a McDonald's and teaching himself to code at night in a cramped apartment near the French Riviera, Robinhood crypto chief Johann Kerbrat is back. The last time he lived around Cannes, he was 21 — with no connections, no funding, and no formal business training. But he had a knack for programming and a drive to solve real-world problems. Kerbrat quit his job just before starting university in nearby Nice, and soon after launched his first fintech startup: a no-code payments company built from scratch to help small merchants create e-commerce sites without hiring developers. "It was in my little studio — probably smaller than your bathroom," he said. "Initially, we didn't have any employees, but it was right at the beginning of e-commerce. Back then, if you were a merchant you didn't really have an option, you had to hire an agency and spend tens of thousands of euros. The idea was to let people build their own thing without any technical knowledge — kind of what Shopify is doing now." But the timing was right. The early 2010s brought a boom in online commerce, and Kerbrat's tool gave small merchants a chance to compete. It also opened his eyes to how fragile and expensive the global financial system really was. A classmate from Greece told him how his family's bank accounts had been frozen during the eurozone crisis. Around the same time, merchants using his platform were struggling with high fees, chargebacks, and fraud. And then the Bitcoin white paper landed. "I was like, 'Okay, that's a solution for everything,' " he said Now, from Château de la Croix des Gardes, a Belle Époque mansion perched along the same coastline where he once lived and worked the night shift in fast food, he's part of the most ambitious crypto product suite in Robinhood's history. On Monday the company announced an expanded offering of tokenized U.S. stocks and ETFs across Europe, crypto staking in the U.S., perpetual futures for eligible EU traders, and a new Layer 2 blockchain optimized for real-world asset settlement and 24/7 trading. "It's absolutely surreal," he said, seated inside the iconic Carlton Hotel — a five-star landmark that once felt impossibly out of reach. "When I was younger, I used to walk past this place — and I could have never, never stayed here." The announcement coincides with the Ethereum Community Conference, hosted in Cannes for the first time, and Robinhood's latest regulatory approvals across Europe. Robinhood's latest move is its most serious push yet to blend traditional finance with blockchain-based infrastructure. Kerbrat said the goal isn't to dazzle with features. It's to make crypto disappear into the background. He likened it to plumbing. "You don't think about how water gets to your tap," he said. "You just expect it to be there." But there is still plumbing to build out. At the heart of Monday's launch are tokenized U.S. stocks and ETFs, now available to customers in 30 EU and European Economic Area countries. The tokens — built first on Arbitrum — offer 24/5 access, dividend support, and zero commission or spread from Robinhood. Eventually, they'll migrate to a custom Layer 2 blockchain built to support tokenized assets, seamless bridging, and self-custody. In the U.S., Robinhood is debuting staking for Ethereum and Solana, allowing users to earn rewards by supporting network operations. In Europe, crypto perpetual futures will offer eligible users up to 3x leverage, routed through Bitstamp. Other upgrades include smart exchange routing, tax lot management, and advanced charting tools — all designed to make crypto feel as seamless and intuitive as trading stocks. Shares of Robinhood are up over 100% this year. "When we talk about mass adoption," Kerbrat said, "This is what it looks like. A product people use — without needing to know how it works." For Kerbrat, who spent his adolescence between Cannes and Nice, the return isn't just symbolic. It's a measure of how far he's come — and how much still feels the same. His father worked in IT. His mother stayed home with him and his sister. One day, his dad brought home a clunky old Apple computer with a black-and-white screen and that was the spark. By 7, he was experimenting. By 11, he was programming regularly. And by 17, he was already trying to fix the broken parts of the internet economy he saw around him. His parents, now living further inland, drove in just in time to watch the launch. They remember the early days, he said — the tiny apartment, the first lines of code, the endless conversations with merchants who didn't quite believe his pitch — that anyone could build an e-commerce site without knowing how to code. "We chose Cannes because of licensing, and because the conference was here," he said. "But I'm not going to pretend it doesn't feel good." He paused, letting the moment settle. "I never thought I'd be back here like this."
The Hill
an hour ago
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LIST: Which stores, restaurants are open for July 4 this year?
(NEXSTAR) — Whether you forgot something for your cookout or are looking for a quick snack on the way to the beach, several stores and restaurants will be open on July 4 — though some may have different hours than you're used to. While it is best to call ahead or check online to confirm the specific store or restaurant you're visiting is open, many have already confirmed their hours for Independence Day this year. As you may have already guessed, banks and post offices will be closed for the holiday, as will most other governmental offices. Also remaining closed for July 4 are Costco and Raising Cane's. The retailer and chicken chain typically close for major holidays. For the most part, any other store or restaurant you're hoping to visit will likely be open. Here's a look at stores that have confirmed as such: If you're traveling, like millions of other Americans are expected to, most gas stations and convenience stores will also be open. Ace Hardware: Because stores are independently owned, hours may vary. You can find your local Ace Hardware's hours online. ALDI: Most stores will close at 4 p.m. on July 4. You can confirm your store's hours on ALDI's website. Apple: Should you need a screen replacement or a charger, your local Apple store will likely be open but may have shortened hours. You'll want to confirm those online. Barnes and Noble: In need of a beach read? Your Barnes and Noble store will likely be open but with limited hours for the holiday. You can confirm hours online. Best Buy: Though Best Buy stores will be open for Independence Day, they may close early. Store hours can be found online here. CVS: Stores will be open but CVS pharmacies may have limited hours that you can check online. Dick's Sporting Goods: The retailer will be open for the holiday but close early at 7 p.m., a spokesperson confirmed to Nexstar. Hobby Lobby: Like others on this list, Hobby Lobby will be open with limited hours on July 4. You can find your store's hours online. Home Goods and Homesense: You'll be able to visit your local Home Goods or Homesense but only until 8 p.m., a spokesperson tells Nexstar. Some stores, however, may have different hours that you'll want to confirm online. IKEA: Want to spend your July 4 putting together some furniture? IKEA stores will be open for the holiday but close early. You can find your store's hours online. JCPenney: Stores will be open for July 4; you can confirm your location's hours online. Kohl's: While Kohl's stores will be open for Independence Day, a spokesperson tells Nexstar they will close at 7 p.m. local time. Kroger: Most stores in the Kroger family will be open for their regular hours, a spokesperson confirmed to Nexstar. You can confirm your store's hours online or by calling ahead. Lowe's: If you're working on a home project for Independence Day, your local Lowe's will be open but likely with limited hours. Store hours can be confirmed online here. Macy's: Unlike others on this list, Macy's stores will be open for their normal hours on July 4, a spokesperson confirmed. Marshalls: While most Marshalls stores will close slightly early at 8 p.m., your local store may have different hours. It's best to confirm online before you head out. Petco: If you need something for your pet, your Petco will be ready to serve you, but with limited hours of 9 a.m. to 8 p.m. PetSmart: Stores will be open from 9 a.m. to 6 p.m. on July 4, a PetSmart spokesperson confirmed to Nexstar. REI: According to a spokesperson, REI stores will be open from 10 a.m. to 6 p.m. on Independence Day this year. Sam's Club: Like others on this list, Sam's Club stores will be open for limited hours on July 4. Plus members will still have early shopping access starting at 8 a.m., while Club member hours start at 10 a.m. Stores will close for all members at 6 p.m. Sierra: Though most Sierra stores will close at 8 p.m., a company spokesperson says hours may vary at some locations. You can find your store's hours online. Target: Need to make a Target run on July 4? You'll be able to, as stores are scheduled to be open for their regular hours on the holiday. Trader Joe's: Your local Trader Joe's will be open on July 4 but close early at 5 p.m., the company confirmed online. TJ Maxx: You'll be able to shop your TJ Maxx racks until 8 p.m. as stores close slightly early for the holiday, a spokesperson confirmed to Nexstar. Walgreens: While Walgreens stores will be open, pharmacies may be closed or operate with limited hours. You can find those online. Walmart: Stores will be open for the holiday, and you can find hours listed on Walmart's website. Whole Foods: Stores will be open, but hours may vary. You can confirm your Whole Foods location's hours online. Many major restaurant chains are franchised, meaning locations may have varied or limited hours for July 4. Generally, it's best to confirm your restaurant's hours online, via their mobile app, or over the phone before visiting. Those that are expected to be operating on Independence Day include: If you're traveling, like millions of other Americans are expected to, most gas stations and convenience stores will also be open. Before visiting any locally-owned restaurants or stores, you may want to confirm their holiday hours online or by giving them a call.
