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CNN – Business/Consumer

Trump’s new 100% tariffs on China triggered an $18 billion crypto sell-off

By Auzinea Bacon, CNN (CNN) — President Donald Trump’s threat to impose an additional 100% tariff on imports from China sparked a massive cryptocurrency sell-off late Friday that exposed risky leverage in the space. Digital currencies bitcoin, ether and solana were among the most affected cryptocurrencies, bringing total liquidations to $18.28 billion as of 3:47

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Why is Nvidia, the world’s leading AI chipmaker, entangled in the US-China trade war?

By Auzinea Bacon, CNN (CNN) — Tech giant Nvidia is the world’s leading artificial-intelligence chipmaker, but the company’s success has also put it in the crossfire of trade tensions. The Santa Clara, California-based company, which is approaching a market capitalization of $5 trillion, has seen rapid growth due to its chips, which are predominantly used

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Americans aren’t worried about the government shutdown. But they remain unnerved about the cost of living and weak hiring

By Bryan Mena, CNN Washington (CNN) — Persistent worries about the higher cost of living and few job opportunities pushed consumer sentiment down to its seventh-lowest level in October, on records going back to 1952. Consumer sentiment edged a hair lower early this month to a preliminary reading of 55, the University of Michigan said

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With Social Security’s COLA on the line, the Trump administration plans to release inflation data delayed by the shutdown

By Samantha Delouya, Tami Luhby, Matt Egan, CNN (CNN) — The Bureau of Labor Statistics is calling some staff back to work to prepare its closely watched inflation gauge, the Consumer Price Index (CPI) report, despite the government shutdown, a Trump administration official told CNN. The CPI report, postponed from October 15 to October 24

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Bessent says US purchased pesos and finalized framework for $20 billion lifeline for Argentina

By Elisabeth Buchwald, CNN (CNN) — The Trump administration has finalized plans to provide a $20 billion lifeline to Argentina, Treasury Secretary Scott Bessent said Thursday via social media. Additionally, the United States “directly” purchased Argentine pesos, Bessent said, a rare move that marks the latest step in an attempt to stabilize the country’s financial

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YouTube is letting some previously banned users return. That means you may see videos that violated old rules

By Clare Duffy, CNN New York (CNN) — YouTube on Thursday will begin offering previously banned users the opportunity to create new accounts and potentially re-publish some videos that may have contributed to their termination but no longer violate YouTube’s rules. YouTube last month announced the plan to allow previously banned users and their content

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Xi reignites tensions ahead of Trump meeting with dramatic curbs on critical rare-earths

By John Liu, CNN (CNN) — Beijing ramped up sweeping restrictions on rare earth exports on Thursday, expanding the list of minerals under control and extending curbs to target their production technologies and their overseas use, including for military and semiconductor applications. China dominates the global processing of rare earths – essential in everything from

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Pentagon charges ahead with press restrictions ‘designed to stifle a free press,’ media orgs say

By Brian Stelter, Liam Reilly, CNN (CNN) — Military officials are pushing forward with new restrictions on the Pentagon press corps despite objections from news organizations and watchdog groups. The policies “appear designed to stifle a free press” and “further isolate reporters” who are trying to do their jobs, the association representing Pentagon beat reporters

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Denmark plans to ban social media for users under 15, as PM says platforms are ‘stealing childhood’

By Jack Guy, CNN (CNN) — Denmark will move to ban social media for children under 15, Prime Minister Mette Frederiksen said Tuesday, saying the online platforms are “stealing our children’s childhood.” Speaking at the opening of the Danish parliament, Frederiksen said her government would propose a ban that also gives parents the option to

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Trump’s tariff revenue could help keep the government open. Why isn’t that happening?

By Elisabeth Buchwald, CNN (CNN) — Hundreds of thousands of federal government employees are being furloughed or working without pay during the ongoing government shutdown. Core functions, including many food and drug inspections, are suspended because Republicans and Democrats remain deadlocked on funding the government. Meanwhile, the government continues to rake in record levels of

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Trump calls on Google to bring back Univision to YouTube TV, calls it ‘very bad’ for GOP ahead of midterms

By Brian Stelter, CNN (CNN) — Portraying Univision as a crucial political tool for Republicans, President Donald Trump is publicly pressing Google to restore access to Univision on the YouTube TV streaming platform. YouTube TV dropped Univision’s channels almost a week ago when the two companies could not reach an agreement about a new carriage

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Live-streaming journalist deported to El Salvador after months in ICE custody

By Liam Reilly, CNN (CNN) — Mario Guevara, the Salvadoran journalist who gained popularity by documenting immigration raids, has been deported after spending months in federal custody. Guevara was deported to his native El Salvador early Friday morning, the Committee to Protect Journalists (CPJ) confirmed to CNN, more than three months after the Spanish-language live-streamer

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The Root returns to Black ownership

By Brian Stelter, CNN (CNN) — The Root, a groundbreaking website for and about Black America, is returning to Black ownership for the first time in years. Ashley Allison, a Democratic political strategist and CNN commentator, said Thursday that she is acquiring The Root from G/O Media, a digital media holding company controlled by a

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A new rule means some 401(k) contributions will no longer be tax-deferred. Here’s who will be affected

By Jeanne Sahadi, CNN (CNN) — A new rule is going into effect next year that will affect high earners who make “catch-up contributions” in their 401(k)s or other tax-deferred workplace retirement plans. The rule, which was created under the Secure 2.0 retirement law, will essentially eliminate the immediate tax break for catch-up contributions that

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Candid photo of Scott Bessent’s phone reveals administration’s concern about two key Trump policies

By Bryan Mena, CNN Washington (CNN) — A member of the Trump administration has seemingly raised a red flag after China bought millions of tons of Argentinian soybeans, taking advantage of a financial lifeline the US Treasury Department said it plans to provide to Buenos Aires – all while American soybean farmers are struggling with

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Trump places a 10% tariff on lumber and a 25% tariff on furniture and cabinets

By David Goldman, CNN (CNN) — President Donald Trump on Monday ordered significant new tariffs on wood and various wooden products, including imported lumber, timber, kitchen cabinets and upholstered furniture – potentially adding costs to homebuilding and furnishing, which have surged in price in recent months. In a proclamation, Trump said the United States would

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Jared Kushner’s firm and the Saudis are taking video game maker EA private in a massive deal

By Jordan Valinsky, CNN New York (CNN) — Video game maker Electronic Arts is going private in a $55 billion deal that’s funded by Saudi Arabia and a Jared Kushner-backed investment firm. The company, which makes hits like “Madden NFL,” “The Sims,” and “Battlefield,” announced Monday that the consortium is led by Saudi Arabia’s Public

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Who is George Soros, the famed philanthropist under attack?

By Auzinea Bacon, CNN (CNN) — Billionaire investor George Soros, whose left-leaning donations have triggered criticism from right-wingers for years, has long been painted as “the puppet master and the extreme left-wing manipulator,” as he once sarcastically described himself. Most of the conspiracy theories involving Soros, 95, have also targeted his nonprofit, Open Society Foundations,

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Boeing is once again allowed to certify 737 Max and 787 Dreamliners as safe to fly on behalf of the FAA

By Aaron Cooper, CNN (CNN) — For years, following significant and continuous quality and safety errors, Boeing has been barred from certifying the safety of some of its own aircraft on behalf of the US government. Following 18 months of intense oversight and scrutiny from US regulators, the Federal Aviation Administration is restoring Boeing’s safety

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Trump’s tariffs are driving a wedge through the US economy, further separating the haves from the have-nots

By Alicia Wallace, CNN (CNN) — Americans ramped up their spending in August; however, their costs of living were on the rise as food and other goods became even more expensive last month and services prices remained stubbornly high. New economic data released Friday showed that consumer spending rose 0.6% in the key back-to-school shopping

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