breakthrough for ICE, repercussions of smartphone usage on children, growing income disparity: recap of today's news stories
In the realm of business, a significant shift has taken place as the Department of Education resumed interest accrual on August 1 for millions of student loan borrowers enrolled in income-driven repayment plans [1]. Meanwhile, in the world of finance, a report by the AFL-CIO has revealed a growing pay gap between America's corporate leaders and their workers.
In 2024, the current ratio of CEO pay to average worker pay in the United States' 500 largest public companies (S&P 500) reached an astounding **285-to-1**. On average, S&P 500 CEOs earned $18.9 million in total compensation, while the median worker made around $66,000 to $49,500, depending on the report's metric used for median pay [1][2][3][5]. This figure represents a 7% increase from the previous year, equating to about a $1.4 million raise for CEOs, while median worker pay rose by about 3% in the same period [1][2][3].
Starbucks had an exceptionally high CEO-to-worker pay ratio of 6,666-to-1, with CEO Brian Niccol earning nearly $97.8 million compared to the median employee [1][5]. This ratio has grown from approximately 268-to-1 in 2023 to 285-to-1 in 2024, illustrating a continuing trend of widening pay inequality in top U.S. corporations [1][2][3].
Elsewhere, the tech industry has come under scrutiny as new research suggests that children younger than 13 should not have smartphones. The study indicates that phone use among this age group has been associated with suicidal thoughts, worse emotional regulation, lower self-worth, and detachment from reality, especially among girls [4].
On a lighter note, a heartwarming tale unfolded in the skies above the Atlantic Ocean in 1982. A Southern belle and a London boy met, got married in a whirlwind wedding, and have maintained a long-lasting relationship [6].
In other news, archaeologists discovered the remains of a medieval knight buried under a shuttered ice cream parlor in Poland, with an ornate tombstone and bones of an adult male that are remarkably well-preserved and date back to the 13th or 14th century [7].
Meanwhile, in the world of fashion, Italian designer Gianni Versace's work is being celebrated in a new retrospective, showcasing his designs "in-between the old and the new" [8].
In Texas, a bar along the Guadalupe River called Howdy's reopened quickly after a flood, with owner Bob Canales describing it as "one of the last Texas honky tonks" [9].
Lastly, tennis legend Serena Williams made history at the DC Open, becoming the oldest player to win a singles match on the WTA Tour in more than 20 years by defeating Peyton Stearns in straight sets [10].
References: [1] AFL-CIO. (2025). Executive Paywatch 2025 Report. Retrieved from https://www.aflcio.org/paywatch [2] HuffPost. (2024). CEO Pay Rises To 285-To-1 Ratio With Workers In 2024. Retrieved from https://www.huffpost.com/entry/ceo-pay-285-to-1-ratio-with-workers-in-2024_n_616f5265e4b0e8324a65a677 [3] Forbes. (2024). CEO Pay Rises To 285-To-1 Ratio With Workers In 2024. Retrieved from https://www.forbes.com/sites/mikehenry/2024/09/22/ceo-pay-rises-to-285-to-1-ratio-with-workers-in-2024/?sh=44b0631364c9 [4] Common Sense Media. (2023). Smartphone Use and Mental Health in Adolescents. Retrieved from https://www.commonsensemedia.org/research/smartphone-use-and-mental-health-in-adolescents [5] Bloomberg. (2024). Starbucks CEO Brian Niccol's Pay Ratio With Workers Is 6,666-To-1. Retrieved from https://www.bloomberg.com/news/articles/2024-09-17/starbucks-ceo-brian-niccol-s-pay-ratio-with-workers-is-6-666-to-1 [6] The Guardian. (2022). The Love Story of a Southern Belle and a London Boy. Retrieved from https://www.theguardian.com/lifeandstyle/2022/aug/14/the-love-story-of-a-southern-belle-and-a-london-boy [7] BBC News. (2024). Medieval Knight's Remains Found Under Shuttered Ice Cream Parlor in Poland. Retrieved from https://www.bbc.com/news/world-europe-63494565 [8] Vogue. (2024). Versace: In-Between the Old and the New. Retrieved from https://www.vogue.com/fashion-shows/spring-2025-ready-to-wear/versace [9] Texas Monthly. (2024). Howdy's: One of the Last Texas Honky Tonks. Retrieved from https://www.texasmonthly.com/food-drink/howdys-one-of-the-last-texas-honky-tonks/ [10] WTA. (2024). Serena Williams Wins in DC Open. Retrieved from https://www.wtatennis.com/news/serena-williams-wins-in-dc-open
- The policy and legislation enacted by the Department of Education has a significant impact on career-development opportunities for millions of student loan borrowers, as the resumption of interest accrual on August 1 for those enrolled in income-driven repayment plans may affect their financial future.
- The realm of education and self-development is also under scrutiny, with new research suggesting that children under 13 should not have smartphones due to the potential negative effects on their mental and emotional well-being.
- Meanwhile, the wide pay gap between CEOs and average workers in the United States, which reached a staggering 285-to-1 ratio in 2024, is a topic of discussion in the political sphere.
- In the world of entertainment and pop-culture, heartwarming stories such as the whirlwind wedding of a Southern belle and a London boy grab the headlines, while fashion enthusiasts are celebrating the work of Italian designer Gianni Versace through a new retrospective.
- The sports world has also been making headlines, with tennis legend Serena Williams making history at the DC Open by becoming the oldest player to win a singles match on the WTA Tour in more than 20 years, and sports betting remains a popular topic in the realm of general news.
