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By Brian Fung, CNN (CNN) — Microsoft joined a sprawling global debate on the regulation of artificial intelligence Thursday, echoing calls for a new federal agency to control the technology’s development and urging the Biden administration to approve new restrictions on how the US government uses AI tools. In a speech in Washington attended by

By Ramishah Maruf, CNN New York (CNN) — On Wednesday night, Fitch Ratings laid out a stark warning to the US government: Raise the debt ceiling or put the world’s biggest economy at risk of a downgrade. Treasury Secretary Janet Yellen earlier this week reaffirmed Thursday June 1 as the deadline for the government to

By Jordan Valinsky, CNN Business New York (CNN) — Digital World Acquisition Corp., the blank-check firm seeking to merge with former President Donald Trump’s media venture that owns the Truth Social app, has received a delisting notice from the Nasdaq. In a press release Wednesday, Digital World said it “received an expected letter” from the

By David Goldman, CNN New York (CNN) — The AI boom is here, and Nvidia is reaping all the benefits. Shares of Nvidia (NVDA) exploded 28% higher Thursday after reporting earnings and sales that surged well above Wall Street’s already lofty expectations. That was enough to make investors temporarily forget about America’s dangerous debt ceiling

By Samantha Delouya, Clare Duffy and Donie O’Sullivan, CNN New York (CNN) — Twitter’s livestream event with Florida Gov. Ron DeSantis crashed and was delayed on Wednesday as hundreds of thousands of users logged on to hear DeSantis announce his bid for the White House. Sound from the livestream event — which was held on

By Matt Egan, CNN (CNN) — In the latest sign of economic pessimism, Americans are growing increasingly concerned they won’t be able to retire comfortably, according to a Gallup survey shared first with CNN on Wednesday. Just 43% of nonretired adults think they will have enough money to live comfortably when they retire, according to

By Matt Egan, CNN New York (CNN) — Even though time is running out to get a debt ceiling deal through Congress, one of the key players that will decide the fate of America’s credit rating is convinced disaster will be averted. “We absolutely don’t think there will be a scenario where we cross the

By Bryan Mena, CNN Washington, DC (CNN) — Federal Reserve officials were divided at their last meeting as to whether or not another rate hike was needed to slow the economy, according to minutes from the central bank’s May policymaking meeting, released Wednesday afternoon. The decision was ultimately unanimous, but officials seem to be moving

By Alicia Wallace, CNN Minneapolis (CNN) — Americans who are already trying to navigate persistently high inflation, soaring interest rates, banking turmoil and recession fears are now faced with trying to prepare for the “unthinkable:” a potential US debt default. Earlier this month, Kimberly Dickerson called up her creditors, asking about contingency plans in the

By Nicki Brown, CNN (CNN) — Filled Broadway seats reached pre-pandemic levels in the 2022-2023 season — which is the first full season of shows since Covid first forced theaters to shutter, The Broadway League announced Tuesday. “Broadway is making a strong rebound as audiences are returning to New York City to experience extraordinary live

By Peter Valdes-Dapena, CNN (CNN) — In the new BMW 5-series sedan, unveiled Wednesday by the German luxury automaker, drivers will be able to change lanes on the highway just by looking to the side. The car’s optional Highway Assistant system allows drivers to go long distances on major highways without touching the steering wheel

By Ramishah Maruf, CNN New York (CNN) — With barely a week to go before the United States defaults on its debt for the first time in history, the White House and congressional leaders remain far apart on any deal. Failing to raise the debt ceiling would wreak havoc across the US economy and Americans’

By Clare Duffy, CNN New York (CNN) — Facebook-parent Meta on Wednesday began cutting employees in its business groups as part of a previously announced round of layoffs, according to social media posts from impacted workers. Meta employees in operations, project management, marketing, policy, communications and risk analytics announced on LinkedIn Wednesday morning that they

By Nicole Goodkind, CNN New York (CNN) — Shares of Abercrombie & Fitch (ANF) soared more than 30% Wednesday after the mall retailer released a stellar first-quarter earnings report. Abercrombie beat analysts’ estimates, reported a surprise profit and boosted its outlook for the full year. The numbers show that despite growing economic uncertainty, the US

By Parija Kavilanz, CNN New York (CNN) — The Federal Trade Commission has launched an investigation into the protracted shortages of baby formula in the United States that left store shelves bare of the essential product for several months, probing whether baby formula makers colluded in bidding on state contracts. The agency, according to documents

By Elisabeth Buchwald, CNN New York (CNN) — Markets will want to breathe a sigh of relief if lawmakers can reach a deal on the debt ceiling to avoid a default. But markets can’t always get what they want. The stock market, for the most part, has been ignoring the serious risks associated with the

By Donie O’Sullivan, CNN (CNN) — On a recent Sunday morning, I found myself in a pair of ill-fitting scrubs, lying flat on my back in the claustrophobic confines of an fMRI machine at a research facility in Austin, Texas. “The things I do for television,” I thought. Anyone who has had an MRI or

By Catherine Thorbecke (CNN) — Some Amazon corporate workers have announced plans to walk off the job next week over frustrations with the company’s return-to-work policies, among other issues, in a sign of heightened tensions inside the e-commerce giant after multiple rounds of layoffs. The work stoppage is being jointly organized by an internal climate

By Jordan Valinsky, CNN New York (CNN) — Netflix is officially beginning its crackdown on users who share passwords in the United States. The streaming video company on Tuesday said it is now sending out emails to all US subscribers who share passwords with people outside their household, as part of a long planned move

By Samantha Murphy Kelly, CNN Business (CNN) — At its annual Microsoft Build developer conference in Seattle on Tuesday, the company announced a series of AI updates to make both Bing and ChatGPT smarter, more intuitive and potentially more ubiquitous. The efforts highlight how Microsoft is doubling down on a new crop of artificial intelligence

By Brian Fung, CNN (CNN) — TikTok CEO Shou Chew vowed Tuesday that his company’s legal battle against Montana will succeed, after the state passed a law that would ban the app from personal devices starting in January. In an onstage interview with Bloomberg at the Qatar Economic Forum, Chew reiterated the company’s view that

By Jordan Valinsky, CNN New York (CNN) — Tesla has released what is possibly its first-ever commercial, a week after Elon Musk announced the company was going to “try a little advertising and see how it goes.” The 2-minute video, posted on the Twitter account for Tesla Asia, is a driver testimonial from a mother

By Tami Luhby, CNN New York (CNN) — Millions of Americans may have to think twice about turning on their air conditioners this summer. The high prices of essential goods, particularly food and housing, has made it tough for many folks to afford the soaring cost of their energy bills. That has helped drive up

By Brian Fung, CNN (CNN) — Stock-photo website Shutterstock on Tuesday said it will acquire Giphy and its online repository of animated images for $53 million, after UK antitrust regulators forced Meta to spin off the company last year. The value of the deal is sharply lower than the $315 million Meta was widely reported

By Samantha Murphy Kelly, CNN Business (CNN) — Apple on Tuesday announced a multibillion-dollar agreement to develop 5G radio frequency and wireless connectivity components in the United States. The company said it is partnering with US-based manufacturer Broadcom for the components, which will be designed and built in several American manufacturing and technology hubs, including

By Hanna Ziady, CNN London (CNN) — Chaotic scenes unfolded at Shell’s annual shareholder meeting Tuesday as climate activists stormed the venue, calling for the oil company to be “shut down” and accusing it of “killing” the planet. Videos posted by journalists to Twitter showed protesters attempting to climb onto the stage in scuffles with

By Samantha Murphy Kelly, CNN Business (CNN) — For years, Alexa has been synonymous with virtual assistants that can interact with users and do tasks on their behalf. Now Amazon is trying to keep pace with a new wave of conversational AI tools that have accelerated the artificial intelligence arms race in the tech industry

By Parija Kavilanz, CNN New York (CNN) — Retailers large and small say they’re struggling to contain an escalation in store crimes — petty shoplifting to organized sprees of large-scale theft that clear entire shelves of products. Target last week said it was bracing to lose half a billion dollars this year because of rising

By Danielle Wiener-Bronner, CNN Business New York (CNN) — The White House and congressional Republicans have yet to reach a debt ceiling deal, and the possibility of a US default looms on the horizon. Business owners, along with the rest of the country, are in wait-and-see mode, bracing for a possible recession and job losses

By Jasmine Wright and Aileen Graef, CNN (CNN) — Treasury Secretary Janet Yellen reaffirmed June 1 as the “hard deadline” for the US to raise the debt ceiling or risk defaulting on its obligations. “I indicated in my last letter to Congress that we expect to be unable to pay all of our bills in

By Bryan Mena, CNN Washington, DC (CNN) — The United States could default on its debt in less than two weeks, and cities with a large military presence risk an economic firestorm if lawmakers don’t act. A default would mean the government won’t be able to meet all of its financial obligations, which include salaries

By Matt Egan, CNN New York (CNN) — The US Chamber of Commerce is strongly pushing back against efforts from Sens. Bernie Sanders, Elizabeth Warren and other progressives to urge the White House to use the 14th Amendment to avoid a disastrous default. The Chamber, a pro-business trade group that often supports Republicans, sent President

By Ramishah Maruf, CNN New York (CNN) — American Airlines and JetBlue Airways have to break up their alliance on Northeast US flight routes, a US District Court judge ordered Friday. US District Judge Leo Sorokin ruled in favor of the the Justice Department, giving the Biden administration a victory in its years-long lawsuit against

By Bryan Mena, CNN Washington, DC (CNN) — It has been a busy week of public engagements for the Federal Reserve’s top officials. One thing has become clear: There is an intensifying debate about whether to hike again or pause at the next meeting. Some officials are concerned inflation isn’t cooling fast enough, which could

By Elisabeth Buchwald and Carlos Suarez, CNN (CNN) — One of the most prominent Latino advocacy groups in the United States is urging people to avoid traveling to Florida ahead of a new immigration law that’s set to go into effect in July. Ahead of Republican Gov. Ron DeSantis’ expected presidential bid announcement, he signed

By Danielle Wiener-Bronner, CNN New York (CNN) — Last year, the Human Rights Campaign Foundation gave Bud Light parent company Anheuser-Busch a top rating for LGBTQ+ equality. But because of how the company handled backlash to a sponsored post by Dylan Mulvaney, a transgender woman, it’s now off the list. The organization informed Anheuser-Busch of

By Anna Cooban, CNN London (CNN) — The European Union is poised to impose a ban on imports of Russia’s diamonds — cutting off the world’s biggest diamond producer from one of its key markets. “Russian diamonds are not forever,” European Council President Charles Michel said on the sidelines of the G7 summit in Hiroshima,