CNN – Business/Consumer

By Alicia Wallace, CNN (CNN) — This summer is expected to be the worst on record for teen hiring, according to the latest forecast from Challenger, Gray & Christmas. The outplacement and consulting firm projected that an estimated 790,000 jobs would go to teen workers in May, June and July, landing below last summer’s record-low

By Brian Stelter, CNN (CNN) — James Murdoch just made a big investment in the American news media. On Wednesday morning, his media and tech holding company, Lupa Systems, said it had agreed to acquire most of Vox Media, including Vox’s main website, its popular podcast network, and New York magazine. The deal was announced

By Clare Duffy, CNN New York (CNN) — Meta has partnered with a network of mom and family influencers to spread the word about its teen safety tools and message that Instagram is safe for teens, according to a new tech watchdog report. The promotional push has come as Meta faces ongoing concerns from online

By Nathaniel Meyersohn, CNN New York (CNN) — American shoppers are brushing off higher gas prices and finally spending money at Target again. Target’s comparable sales, which include both those at stores and online, grew 5.6% during its latest quarter — its best results in four years. The company raised its sales guidance for the

By Matt Egan, CNN New York (CNN) — Tens of millions of Americans hitting the road this Memorial Day weekend will face historically high gas prices. The war with Iran has destabilized the global energy system, pushing up pump prices across the country despite emergency steps from the Trump administration designed to limit the damage.

By Liam Reilly, CNN (CNN) — Stream CNN FlashDoc’s new documentary “The Last Laugh: Stephen Colbert,” examining the legacy of one of America’s most influential satirists, on the CNN app. Stephen Colbert’s final “Late Show” broadcast on Thursday will close out his run in the storied CBS late-night chair once occupied by David Letterman. What

By Jeanne Sahadi, CNN (CNN) — The United States is not in a recession, but the normal economic cycle means it will be at some point. Exactly when is hard to predict. A nationwide recession is marked by a decline in economic activity over at least several months. Think lower consumer spending, higher job losses,

By Samantha Delouya, CNN (CNN) — Homebuyers browsing Zillow across parts of the Midwest on Wednesday may find incomplete or outdated listings, after a mounting legal fight disrupted the flow of new listings to the platform. That’s because Midwest Real Estate Data, or MRED, cut off Zillow’s access to its regional home-listing database serving Chicago

By Hadas Gold, CNN (CNN) — Online platforms are now required by law to remove non-consensual intimate images within 48 hours of reporting, as a federal law criminalizing the sharing of such content goes into full effect Tuesday. President Donald Trump signed the Take It Down Act into law last year, which makes it illegal

By Lisa Eadicicco, CNN (CNN) — To get ahead in the new internet age, Google wants to help you google less. The company on Tuesday revealed a flurry of AI-powered features for its search engine, AI assistant Gemini and other services. It’s part of Google’s latest effort to revamp its decades-old business model to fit

By Anna Cooban, Mauricio Torres, CNN London (CNN) — Jonathan Andic, the son of the late founder of Spanish fashion giant Mango, was arrested Tuesday in connection with his father’s death in 2024. Isak Andic, who founded Mango in the mid-1980s, died at age 71 after plunging down a 320-foot ravine in December 2024 while

By John Towfighi, CNN New York (CNN) — A bond rout is deepening as inflation fears take hold of the Treasury market, threatening to raise borrowing costs across the US economy. The 30-year US Treasury yield just hit 5.2%, its highest level since 2007, rising on worries about persistent price hikes because of the Iran

By Chris Isidore, CNN (CNN) — Gasoline prices are up more than 50% since the start of the war in Iran. Can average Americans protect themselves from those higher costs? Not completely – oil is far too embedded into everyday life. For example, diesel-burning truck companies have imposed fuel surcharges to transport the goods Americans

By Matt Egan, CNN New York (CNN) — Wholesale motor oil prices are rising rapidly, and some industry executives are warning of imminent shortages caused by the war with Iran. Damage to key facilities in the Middle East and the shutdown of the Strait of Hormuz have combined to create a perfect storm in this

Reuters Seoul (Reuters) — The head of Starbucks Korea has been fired after a marketing campaign sparked public outrage for evoking painful memories of a brutal military crackdown on pro-democracy protesters in 1980. Shinsegae Group, the retail conglomerate that licenses and manages the US coffee chain in South Korea, said it had sacked Sohn Jeong-hyun,

By Chris Isidore, CNN (CNN) — A three-day strike on the nation’s largest commuter rail system ended after marathon negotiations concluded Monday with the unions and Long Island Rail Road reaching a tentative deal. The deal was announced by New York Gov. Kathy Hochul in a post on X, who described it as delivering raises

CNN By Alexandra Banner, CNN SPF 30 or 70? Waterproof or sweat-resistant? Since when did sunscreen shopping become weirdly stressful? A new report warns that many skin products fall short on safety and effectiveness, but experts say a few options are still worth grabbing. Here’s what else you need to know to get up to

By Hadas Gold, Samantha Delouya, CNN (CNN) — Elon Musk waited too long to sue OpenAI and its leaders, a jury in Oakland, California, decided on Monday. A lawsuit he filed was barred by the statute of limitations, the jury found after about 90 minutes of deliberation. Their verdict was advisory, but Judge Yvonne Gonzalez

By Jordan Valinsky, CNN New York (CNN) — Lululemon has publicly rejected founder Chip Wilson’s ideas to fix the struggling athleisure brand, which includes an overhaul of its board, with some strongly worded criticisms of its former leader. Wilson, who is also the company’s second largest shareholder, launched his latest salvo last December in his

By Brian Stelter, CNN (CNN) — Stephen Colbert is going out with a smile — and with many jokes at CBS and its parent company Paramount’s expense. Colbert is signing off “The Late Show” this week as CBS ends the iconic late-night TV franchise. Many “Late Show” fans are disappointed, even angry, about the cancellation,

By Chris Isidore, Hanna Ziady, CNN New York (CNN) — New Yorkers were dealt travel headaches Monday, as service on the vital Long Island Rail Road remains suspended because of a historic strike, although there is reason to hope that the strike could be a short one. “It’s much more promising today than it was

By John Towfighi, CNN (CNN) — Consumer prices in April rose at the highest annual rate in three years, putting inflation back into focus. Inflation eats away at the value of your dollar. Smart investing, however, can build wealth at a rate that outpaces inflation over time. And there are different strategies to make portfolios

By Matt Egan, CNN New York (CNN) — The energy crisis is a financial nightmare for Main Street and a political nightmare for the White House. Inflation is racing back to life, real wages are shrinking and voters are blaming President Donald Trump for $4.50-a-gallon gas. Trump now faces a break-the-glass moment to avoid gas

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve is yapping too much about the economy, according to Kevin Warsh, the US central bank’s incoming leader. During his confirmation hearing last month, Warsh argued that Fed officials “speak quite frequently” and stressed that “truth-seeking is more important than repetition.” “If one has a press

By Daniela Pierre-Bravo (CNN) — Marco, 26, graduated from one of the country’s top medical schools last week. He found his calling after witnessing his grandmother battle cancer, and he sometimes worked up to 40 to 60 hours a week to afford his education. That dream is now in jeopardy. Marco is one of the

By Chris Isidore, CNN (CNN) — Transit workers for the Long Island Rail Road, the nation’s largest commuter railroad, are on strike, potentially stranding hundreds of thousands of weekday passengers in the New York City area. The strike by the five unions representing 3,500 workers, the first at the railroad since 1994, has brought all

By Nathaniel Meyersohn, CNN New York (CNN) — Nvidia CEO Jensen Huang, who has a net worth estimated at roughly $200 billion, was recently asked about California’s wealth tax proposal that has some billionaires riled up. “It’s fine,” he said. “I never once thought about it.” Many billionaires are frustrated over blue states’ and cities’

By Bryan Mena, CNN Washington (CNN) — The sharpest economic decline in American history, the highest inflation in more than 40 years, aggressive political attacks from the White House, and the worst-ever global energy shock. Those are some of the extraordinary events that unfolded during the eight-year chairmanship of Jerome Powell at the Federal Reserve,

By Jordan Valinsky, CNN New York (CNN) — Nearly a year after Trump Mobile started taking $100 deposits and a few days after its website updated to say delivery was “conditional,” the gold-plated Trump Phone will begin shipping this week, the company announced. The $499 Trump Phone, officially known as the Trump Mobile T1 and

By Chris Isidore, CNN (CNN) — The auto industry’s massive pullback from its electric vehicle plans has claimed another victim: Honda, which posted its first annual loss since 1955. Honda and other global automakers downshifted their EV ambitions after the Trump administration changed US emissions rules and ended a $7,500 tax credit for American buyers.

By Bryan Mena, CNN Washington (CNN) — The war with Iran is forcing Americans to pay more for gasoline as people cut back on purchases of some long-lasting goods. Retail sales climbed 0.5% in April from the prior month, the Commerce Department said Thursday, down from March’s 1.6% and marking the third consecutive monthly increase.

By Elisabeth Buchwald, CNN (CNN) — Winning a landmark Supreme Court case against President Donald Trump’s most sweeping tariffs was one thing. Actually getting his illegally collected tariff money back from the government, though, was practically inconceivable to Victor Schwartz, owner of wine importer VOS Selections and the lead plaintiff in that case. On Wednesday,

By Bryan Mena, CNN Washington (CNN) — Kevin Warsh was narrowly confirmed Wednesday by the Senate to serve as the 17th chair of the Federal Reserve, inheriting a central bank that has long been under political siege from President Donald Trump and an economy rattled by geopolitical tensions that are driving inflation higher. Warsh will

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump’s latest Iran war pitch to American consumers: Short-term pain will bring long-term gain. But Tuesday’s ugly consumer inflation report, Wednesday’s uglier wholesale inflation report and some worrying bond market signals all point to one thing. The pain will not be short-lived. Wednesday’s Producer Price Index report

By Jeanne Sahadi, CNN (CNN) — If you’re financially pressed, confused about money, or just want a little free help figuring out how to improve your cash flow, you may be tempted to use AI. But you should know how to protect yourself before chatting about your finances with any AI tool (eg, ChatGPT, Copilot,

By Hadas Gold, Samantha Delouya, Lisa Eadicicco, CNN Oakland, Calif. (CNN) — Elon Musk’s lawyer began his cross examination of OpenAI CEO Sam Altman in court on Tuesday with a brief question: “Are you completely trustworthy?” Musk is suing the company and its leaders over allegations that OpenAI, Altman and president Greg Brockman breached their

By Alicia Wallace, CNN (CNN) — For the first time in three years, Americans’ wages are no longer outpacing inflation. Prices rose 0.6% on a monthly basis, driving the annual rate to 3.8%, the highest since May 2023, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics. Economists

By Hanna Ziady, CNN London (CNN) — Online marketplace eBay has rejected an offer from GameStop to buy the company for $55.5 billion, dealing a blow to the video game retailer’s ambitions to create a rival to Amazon. After reviewing GameStop’s proposition, the eBay board had concluded that the proposal was “neither credible nor attractive,”

By Matt Egan, CNN New York (CNN) — Gas prices are within striking distance of $5 a gallon, a painful threshold that seemed virtually impossible when the year started. And the high-demand summer driving season hasn’t even begun. Some experts fear gas could break the all-time highs set in 2022, even though crude oil isn’t

CNN By Matt Egan, CNN New York (CNN) — Gas prices are within striking distance of $5 a gallon, a painful threshold that seemed virtually impossible when the year started. And the high-demand summer driving season hasn’t even begun. Some experts fear gas could break the all-time highs set in 2022, even though crude oil

By Stephanie Yang, CNN Taipei, Taiwan (CNN) — In South Korea, a global energy supply crunch has hit hard. Officials have advised energy conservation, cut growth forecasts and warned of fallout from high inflation and 17-year lows in the value of its currency. Yet the nation’s largest companies are raking in record profits, and its

By Tami Luhby, CNN (CNN) — President Donald Trump said Monday that he intends to suspend the federal gas tax amid soaring prices at the pump as the US war with Iran drags on. The spike is deepening consumers’ pessimism about the economy, adding to Republicans’ concerns about their fate in November’s midterm elections. However,

By Hadas Gold, CNN (CNN) — The family of a victim of last year’s Florida State University mass shooting filed a lawsuit Sunday against OpenAI, alleging ChatGPT “inflamed and encouraged” accused shooter Phoenix Ikner’s “delusions” ahead of the attack. The lawsuit filed in Tallahassee follows the first criminal investigation against OpenAI opened by Florida Attorney

By Brian Stelter, CNN (CNN) — Five years ago, Wordle was just a game that creator Josh Wardle played with his partner. Wardle sold the game to The New York Times. Now it’s becoming a prime-time game show on NBC. The “Wordle” show, announced Monday, is slated to premiere sometime in 2027, the network said.

By Chris Isidore, CNN (CNN) — Chris Bambury’s family has been selling gas in Sonoma Valley, California, for more than 100 years, but never at prices like this. The price at his two stations was $6.29 for a gallon of regular gas last week, which is actually cheap for his part of California — AAA

By Lisa Eadicicco, CNN New York (CNN) — AI probably won’t take your job anytime soon. At least not all of it. Concerns about artificial intelligence replacing human workers have simmered over the past year as companies slash headcounts, AI models grow more capable of office work and businesses integrate AI more deeply into their

By Michael Ballaban, CNN (CNN) — To board the yacht named Christina, in the glamorous late middle of the 20th century, was to float amid the highest levels of fame, celebrity and royalty: Winston Churchill! Liza Minnelli! Rudolf Nureyev! Its owner, the Greek shipping magnate and definitive international playboy Aristotle Onassis, equipped it with a

By John Towfighi, Norma Galeana, CNN (CNN) — Mother’s Day expenses can pile up fast. There’s brunch. Gifts. Cards. And, of course, flowers –– which might not break the bank, but are getting pricier because of higher costs along the journey from garden to table. Flowers delivered to loved ones on Mother’s Day travel through

By Clare Duffy, CNN New York (CNN) — A group of rural Utah residents wants a chance to vote in November to oppose a massive AI data center development — the latest example of Americans resisting new data center projects over fears they’ll disrupt the environment and their communities. The Utah project was approved by

By Elisabeth Buchwald, CNN (CNN) — On paper, the American job market appears to be on relatively strong ground. Last month, employers hired 115,000 new workers, nearly double what economists forecast. And, at 4.3%, the unemployment rate is still at a historic low. But surveys and other sources of labor market data indicate that Americans

By Brian Stelter, CNN (CNN) — ABC is accusing the Trump administration’s media regulator of threatening broadcasters’ First Amendment rights. In an extraordinary legal letter to the Federal Communications Commission, the network accuses the agency of threatening “to upend decades of settled law and practice and chill critical protected speech.” At issue, specifically, is “The

By Bryan Mena, CNN Washington (CNN) — Consumer sentiment continued to decline this month, reaching a fresh record low as the war in Iran drags on, keeping energy prices elevated. The University of Michigan’s latest consumer survey, released Friday, showed sentiment fell early this month to a preliminary reading of 48.2, the lowest on records

By Alicia Wallace, CNN (CNN) — The US economy added a stronger-than-expected 115,000 jobs last month and the unemployment rate stayed at 4.3%, an indication of resilience at a time when war and high gas prices loom large. April’s employment gains mark an expected retreat from March, when a revised 185,000 jobs were created, boosted

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump’s 10% across-the-board tariffs are in jeopardy after a federal court ruled them illegal on Thursday, dealing a second major blow this year to the president’s signature economic policy. In a 2-1 ruling, the panel of judges at the US Court of International Trade found the administration

By Hadas Gold, CNN (CNN) — Shivon Zilis was an under-the-radar executive at Elon Musk’s companies and an OpenAI board member back in 2022. But she was hiding a major secret – Musk was the father of her twins born the year before. Now, her ties to the Tesla CEO have put her at the

By Lisa Eadicicco, CNN (CNN) — Google wants to be your go-to fitness coach and wellness adviser… even if you have an Apple Watch. The tech giant announced a slew of health updates on Thursday that put its AI coach front and center, part of a broader strategy to compete with OpenAI, Microsoft and a

By Nathaniel Meyersohn, CNN New York (CNN) — New York City Mayor Zohran Mamdani stood outside a luxury skyscraper in Manhattan for a video on Tax Day to deliver on his trademark plan: “We’re taxing the rich.” The skyscraper, located on ritzy Central Park South and built at a cost of $1.5 billion, seemed a

By Alicia Wallace, CNN (CNN) — When the April jobs report is released Friday morning, it is expected to show that the US labor market added 67,000 positions. If so, that’s roughly one-third of the 178,000 jobs created in March. While in comparison the April total may seem like a sharp deceleration or a tepid

By Matt Egan, CNN New York (CNN) — Shirley Modlin started her manufacturing business 20 years ago in her garage with her husband. Now, she fears the company won’t survive. Modlin’s tiny company based in Powhatan, Virginia, faces major delays on components and price hikes of up to 400% that she blames on tariffs. She

By Bryan Mena, CNN Washington (CNN) — Tension is building among the policymakers tasked with wrangling inflation as the economic effects of the US-Israeli war with Iran broaden. When Federal Reserve officials convened on March 17-18, just a few weeks after the war broke out, Chair Jerome Powell said any effects on inflation would likely

By John Towfighi, CNN (CNN) — The US stock market isn’t the only market that’s rebounded to record highs. Stock indexes in Taiwan, South Korea and Japan have clinched fresh records in recent trading sessions, bouncing back after tumbling in March. Asian countries are heavily reliant on oil imports from the Middle East that have

By Vanessa Yurkevich, CNN (CNN) — For tens of thousands of seafarers on the 1,600 ships stuck in the Strait of Hormuz, “Project Freedom” was anything but. President Donald Trump’s operation to “guide” ships through the strait lasted just 48 hours. Only two ships were guided through. Now, shipping companies and stranded seafarers are again

By Brian Stelter, CNN (CNN) — Banks scoffed. Potential partners rejected him. Newspaper owners mocked the idea. But Ted Turner persevered and won. Turner faced an extraordinary uphill battle to launch CNN in 1980. Before the network became an institution, a shorthand for 24/7 breaking news around the world, it was a dare that many

By Nathaniel Meyersohn, CNN New York (CNN) — No one likes higher taxes. But New York City Mayor Zohran Mamdani’s plan to tax wealthy residents’ second homes has elicited a highly emotional response from two of the city’s richest. “Creepy and weird,” is what Ken Griffin had to say Tuesday at a conference about Mamdani’s

By Chris Isidore, CNN (CNN) — Jet fuel prices nearly doubled. Airlines cut flights. Travelers were still buying tickets. That was already a pretty good recipe for higher airfares. And then, Spirit Airlines went out of business. Passengers were already paying more to fly – even before the industry lost the budget airline famous for

By Jordan Valinsky, CNN New York (CNN) — Sweetgreen is hoping to lure back cash-strapped desk workers who have grown tired of its salads with sandwiches. The chain will begin selling chicken wraps — four versions priced under $15 — on Wednesday, marking Sweetgreen’s latest effort to revive sales and shake the perception that it’s

By Hadas Gold, CNN (CNN) — Google, Microsoft and xAI will share unreleased versions of their AI models with the government to curb cybersecurity threats, the National Institute of Standards and Technology announced on Tuesday. The partnership comes after Anthropic’s powerful new Mythos AI model pushed concerns about AI’s impact on cybersecurity to a tipping

By Liam Reilly, CNN (CNN) — The Equal Employment Opportunity Commission sued The New York Times on Tuesday, escalating a months-long investigation into the newsroom and advancing a discrimination case the paper has cast as politically motivated. The lawsuit, filed in the US District Court for the Southern District of New York, was brought on

By Brian Stelter, CNN (CNN) — James Murdoch may be the next owner of New York magazine and Vox Media’s podcast network. Murdoch’s investment company, Lupa Systems, is in talks to acquire the assets for $300 million or more, two people with knowledge of the discussions told CNN. It is unclear if there are active

By Clare Duffy, CNN New York (CNN) — Since independent vehicle crash testing began in the mid-1990s, automakers have been incentivized to make safety changes that have saved thousands of lives each year. Now, a new group is hoping to take a similar approach to artificial intelligence. Nonprofit media watchdog Common Sense Media is launching

By John Liu, Hanna Ziady, CNN (CNN) — Oil prices fell Tuesday after posting sharp gains at the start of the week as fresh attacks in the Gulf raised doubts about the durability of a ceasefire between the United States and Iran. Brent crude, the global oil benchmark, was down 1.4% to $112.9 a barrel

By Tami Luhby, CNN (CNN) — High gas prices are prompting some people to look for new jobs with shorter commutes or work-from-home options. Are you considering switching jobs to reduce how much you are spending on gas? Or are you asking your boss if you can work remotely more often? Are you an employer

By Hadas Gold, CNN (CNN) — Elon Musk sought a potential settlement with OpenAI two days before his massive trial against the ChatGPT maker began last week, a new court filing from OpenAI says. Musk sent a message to OpenAI President Greg Brockman “to gauge interest in settlement” on April 25, according to a filing

By John Towfighi, CNN New York (CNN) — Wall Street wants more proof that Big Tech’s enormous spending on artificial intelligence will pay off. The largest US tech companies are on a spending spree to try and get ahead in the AI race. Amazon (AMZN), Alphabet (GOOG), Meta (META) and Microsoft (MSFT) continue to spends

By Hanna Ziady, CNN London (CNN) — GameStop has offered to buy ecommerce giant eBay for $55.5 billion, a tie-up that the video game retailer’s boss believes could produce a “legit competitor” to Amazon. The offer comes amid something of a revival at eBay, which has pushed to reinvent itself in the face of rising

By Stephanie Yang, CNN (CNN) — Jeffrey Cesari grew up eating ube, a purple yam native to the Philippines, whenever he visited his relatives there. But seven months ago, when he encountered it in a latte at a Turkish cafe, it suddenly sparked a business idea. The 31-year-old former auditor thought if people in Istanbul

By Brian Stelter, CNN (CNN) — In the immediate aftermath of last week’s shooting outside the White House Correspondents’ Dinner, there was widespread skepticism about rescheduling it anytime soon. But attitudes have shifted in recent days, and the consensus is now that the dinner — which doubles as an awards ceremony and fundraiser — should

By Auzinea Bacon, CNN (CNN) — Berkshire Hathaway (BRK.B) on Saturday reported $11.35 billion in operating earnings and a record cash pile in the first quarter under CEO Greg Abel, the successor to famed investor Warren Buffett. Berkshire Hathaway’s massive cash pile rose to more than $397 billion in the first quarter, up from the

WBZ, CNN By Chris Isidore, CNN (CNN) — Spirit Airlines, the pioneering discount airline that shook up the budget travel business, is shutting down its operations. The company is in its second bankruptcy and was in serious financial trouble well before the Iran war sent jet fuel prices surging. America’s eighth-largest carrier tried to reach

By Chris Isidore, CNN (CNN) — Spirit Airlines, the pioneering discount airline that shook up the budget travel business, is shutting down its operations. The company is in its second bankruptcy and was in serious financial trouble well before the Iran war sent jet fuel prices surging. America’s eighth-largest carrier tried to reach a deal

By Zahra Ullah and Ana Archen, CNN Moscow (CNN) — High-energy pop music blares out across the atrium of a glitzy shopping mall in a middle-class Moscow suburb. But what was meant as the soundtrack to the hustle and bustle of shoppers is instead playing to largely vacant and boarded-up glass-fronted units – a poignant

By Antonia Mortensen and Juan Pablo O’Connell (CNN) — In the heart of Emilia‑Romagna, northern Italy, vast climate‑controlled warehouses hide one of the country’s most valuable assets. Towering shelves hold hundreds of thousands of wheels of Parmigiano Reggiano aging slowly, quietly and becoming more valuable with every passing month. To outsiders, it looks like a

By Simone McCarthy, CNN Beijing (CNN) — A sleek SUV offers mechanical foot massages, a luxury minivan has rotating seats to help passengers hop into its third row – and a surprising proportion of models offer in-car karaoke with professional-grade speakers. Others have headlights that can project movies onto a wall to make anywhere a

By Chris Isidore, Donald Judd, CNN (CNN) — Spirit Airlines is set to announce in the coming hours that that it will halt flying as of 3 am ET Saturday, according to two sources familiar with its plans, making it the first significant US airline to halt operations in nearly 25 years. The shutdown comes

By Bryan Mena, CNN Washington (CNN) — One word in the Federal Reserve’s lengthy policy statement released this week is causing consternation among its officials, some of whom are warning that it could end up costing the US economy. That word is “additional.” Since the early 2000s, the Fed has signaled if interest rates could

By Jordan Valinsky, CNN New York (CNN) — The Department of Defense announced Friday an agreement with eight major technology companies to use their artificial intelligence tools in its classified networks. Not included: Anthropic, which the Trump administration has blacklisted over Anthropic’s insistence that the Pentagon include certain safety guardrails for the government’s use of

By Chris Isidore, CNN (CNN) — ExxonMobil and Chevron, America’s two largest oil companies, both reported a sharp drop in profit for the first three months of this year. But much bigger profits likely lay ahead because of rising oil prices during the war with Iran. Oil and gas prices rose in the runup to

By John Towfighi, CNN New York (CNN) — Markets just had a month of seemingly contradictory results. The S&P 500 just had its best month in nearly six years, even though oil prices have surged back above $100 per barrel and bond yields have climbed. Stocks are forward looking and trying to see past the

By Lisa Eadicicco, CNN (CNN) — Apple CEO Tim Cook is used to being asked about the company’s product strategy, tariffs and AI. But on Thursday’s earnings call, one analyst wanted to know: What advice would he give to his successor? Apple on Thursday reported second-quarter earnings and what Cook said was the company’s “best

By Jeanne Sahadi, CNN (CNN) — President Donald Trump signed an executive order Thursday that put some meat on the bones of a retirement savings proposal he introduced in his State of the Union address in February. The proposal is intended to help close the so-called retirement coverage gap, which has left behind more than

By Samantha Delouya, Hadas Gold, Ramishah Maruf, CNN Oakland, Calif. (CNN) — Elon Musk spent the better part of three days on the stand, accusing OpenAI and its executives of deceiving him into donating money to help found what is now one of the world’s biggest AI companies. The lawsuit pits Musk against his former

By Brian Stelter, CNN (CNN) — President Donald Trump says ABC had “better” fire Jimmy Kimmel soon, in his latest broadside against the network and its popular late-night comedian. Trump posted to Truth Social on Thursday morning, “When is ABC Fake News Network firing seriously unfunny Jimmy Kimmel, who incompetently presides over one of the

By Alicia Wallace, CNN (CNN) — Fast-rising gas prices lifted the Federal Reserve’s preferred inflation gauge to 3.5% in March, its highest rate in almost three years, new data showed Thursday. The Personal Consumption Expenditures price index rose 0.7% from February, a faster-than-expected acceleration from the previous monthly pace of 0.4%, the Commerce Department reported

By Bryan Mena, CNN Washington (CNN) — The US economy picked up steam in the beginning of the year as the United States and Israel launched a destabilizing war with Iran that has jacked up prices and is still ongoing. Gross domestic product, which measures all the goods and services produced in the economy, registered

By Elisabeth Buchwald, CNN (CNN) — After eight years spanning three administrations, 66 interest-rate-setting meetings, a pandemic, a criminal probe and countless attacks from the Trump administration, Jerome Powell capped his final policy meeting as chair of the Federal Reserve on Wednesday. But he’s not going far: While Powell’s term as chair ends on May

CNN By John Liu, Stephanie Yang and Hanna Ziady, CNN Hong Kong/London (CNN) — Oil briefly surpassed $126 a barrel Thursday, its highest price in four years, as some traders worried about an escalation in the US-Iran war that would keep the Strait of Hormuz effectively shut. Brent crude, the global benchmark, surged overnight to

By John Liu, Stephanie Yang and Hanna Ziady, CNN Hong Kong/London (CNN) — Oil briefly surpassed $126 a barrel Thursday, its highest price in four years, as some traders worried about an escalation in the US-Iran war that would keep the Strait of Hormuz effectively shut. Brent crude, the global benchmark, surged overnight to touch

By Jeanne Sahadi, CNN (CNN) — Wednesday marked the last meeting of the Federal Open Market Committee under the leadership of Federal Reserve Chair Jerome Powell. Powell chaired his first of more than 65 meetings in March 2018. During his eight years at the helm, the FOMC raised the central bank’s key overnight lending rate

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve on Wednesday kept interest rates unchanged for a third consecutive meeting, with some key policymakers signaling concern over still-elevated energy prices due to the US-Israeli war with Iran. Fed officials kept the benchmark lending rate in a range of 3.5-3.75%, in what was Jerome Powell’s

By Samantha Delouya, Hadas Gold, CNN Oakland, Calif. (CNN) — Elon Musk sparred with OpenAI’s attorney under cross examination on the second day of his testimony, as lawyers for both sides zeroed in on his souring relationship with the organization that kicked off the AI race. Musk claims OpenAI betrayed its initial nonprofit mission when