Money

By Lisa Eadicicco, CNN New York (CNN) — For at least a decade, tech giants have tried to develop computers that can handle complicated tasks on a user’s behalf. But those efforts have largely fallen flat, with assistants like Alexa and Siri mostly being used for things like setting alarms and playing music. Some of

By Matt Egan, CNN New York (CNN) — Tickets to the NBA Finals in New York are so hot that fans are spending thousands of dollars – even for nosebleed seats. The cheapest tickets to the New York Knicks home games at Madison Square Garden are selling for nearly $4,000 each, according to secondary marketplace

By Brian Stelter, CNN (CNN) — CBS News fired veteran “60 Minutes” correspondent Scott Pelley on Tuesday, one day after he sharply criticized the newsmagazine’s new leadership in front of the staff. CBS News editor in chief Bari Weiss said Wednesday that her leadership team had tried to reconcile with Pelley, but “we weren’t able

By Bryan Mena, CNN Washington (CNN) — Healthcare is one of the few industries still powering job growth in America. Last year, employers across industries added jobs at an unusually weak pace. Healthcare, however, has been an exception: For the past five years, the industry has been America’s top job creator and now makes up

By Clare Duffy, CNN New York (CNN) — People have been seeking out health information online since the dawn of the internet. And now, tens of millions of people are turning to artificial intelligence for questions they once asked “Dr. Google.” But the large language models behind most mainstream AI chatbots are trained on a

By Hadas Gold, CNN (CNN) — President Donald Trump on Tuesday signed an executive order seeking early government access for the most advanced AI models to weigh cybersecurity risks and protect critical infrastructure. The executive order comes as models like Anthropic’s Mythos have spooked government and Wall Street over security concerns. The order requests AI

By Alicia Wallace, CNN (CNN) — US businesses are brushing off those “Now Hiring” signs: Job openings rose sharply in April to their highest level in nearly two years, Bureau of Labor Statistics data showed Tuesday. However, the latest look at labor turnover also showed that those job postings aren’t necessarily turning into job offers

By John Towfighi, CNN (CNN) — AI companies’ plans for blockbuster initial public offerings (IPOs) are captivating Wall Street. Anthropic on Monday took a major step toward going public. Rival OpenAI is also expected to file for an IPO. Elon Musk’s SpaceX, which filed for an IPO in May, is slated to start trading on

By Vanessa Yurkevich, Chris Isidore, Matt Egan, CNN (CNN) — The most powerful shipping executives in the world are gathered in Athens this week for the annual International Shipping Exhibition. The hot topic: the Strait of Hormuz. President Donald Trump has said the strait’s reopening is imminent. Administration officials tout ships getting through the vital

By Brian Stelter, CNN (CNN) — CBS News management faced a fresh crisis on Monday after legendary “60 Minutes” correspondent Scott Pelley accused the network’s editor in chief Bari Weiss of trying to “kill” the acclaimed newsmagazine. Pelley made the comments during a tense meeting between the staff of “60 Minutes” and the program’s brand-new

By Hadas Gold, CNN (CNN) — Florida is suing OpenAI and its CEO Sam Altman, alleging they know ChatGPT is not safe, especially for minors. The state becomes the first to sue OpenAI over the alleged dangers of its product. “Sam Altman and ChatGPT have chosen the AI race over the safety and security of

By Clare Duffy, Lisa Eadicicco, Hadas Gold, CNN (CNN) — Anthropic on Monday said it filed plans for an initial public offering, setting it up for a share sale that could value the company in the trillion-dollar range as it races against rival OpenAI. The company has yet to determine how many shares it will

By Auzinea Bacon, CNN (CNN) — Think you know who’s going to win the World Cup? Think you know better than Goldman Sachs? Yes, that Goldman Sachs. Goldman Sachs, possibly the most buttoned-up of all the big investment banks, released a report on Friday led by chief economist and head of Global Investment Research, Jan

By Jordan Valinsky, CNN New York (CNN) — At 261 years old, Cognac brand Hennessy is starting to show its age. After a pandemic-era surge in demand, the amber-colored spirit is navigating a sobering reality. Consumers, particularly younger ones, are moderating their drinking or shifting toward premium tequila. As a result, exports from France’s Cognac

By Elisabeth Buchwald, CNN (CNN) — On paper, the job market looks pretty darn good. The 4.3% unemployment rate is below both the 10-year average of 4.6% and the 50-year average of 6.1%. For the second month in a row, the official government tally of jobs added blew past economists’ expectations. And the most recent

By Brian Stelter, CNN (CNN) — The biggest two movies in America right now, “Backrooms” and “Obsession,” come from twentysomething filmmakers who honed their craft on YouTube. Their films were made with relatively low budgets and were marketed online. Now that they’re filling theaters with teens and young adults who rarely show up at the

By Samantha Delouya, CNN (CNN) — A surprisingly competitive mayoral campaign from former reality television star Spencer Pratt has thrust some of Los Angeles’ economic anxieties into the national spotlight ahead of Tuesday’s nonpartisan primary election. Pratt has built his campaign around frustration with the city’s leadership and direction after the Pacific Palisades home he

By David Goldman, CNN (CNN) — In its 50-year history, Costco has never seen such demand for gas. Many of its stations have been so overwhelmed that they’ve had to call in tanker trucks multiple times a day to avoid running dry, Costco said this week during its quarterly earnings call. A growing number of

By Chris Isidore, CNN (CNN) — No airline is more likely than Frontier Airlines to benefit from the demise of Spirit. But no airline is more at risk of suffering the same fate. Financial problems and higher fuel costs tipped long-struggling budget airline Spirit over the edge when it went out of business on May

By Clare Duffy, CNN New York (CNN) — Four months after TikTok’s US assets were spun off into a new joint venture to avert a ban, Sen. Ed Markey says Americans still don’t have enough information about whether the deal addresses national security concerns related to the popular video app. Markey, a Massachusetts Democrat, on

By Clare Duffy, CNN New York (CNN) — A California mom says she was scammed out of thousands of dollars this month after receiving a call that sounded like her daughter in distress. She now suspects it was an artificial intelligence-generated hoax. She’s one of many who have been targeted by so-called “voice cloning” scams

By Stephanie Yang, CNN (CNN) — South Korean semiconductor giant SK Hynix became one of the few companies in the world with a $1 trillion market cap this week, as a global AI boom continues to propel chip stocks to record levels. The memory chip maker’s rise follows that of its competitors: Samsung Electronics and

By Brian Stelter, Liam Reilly, CNN (CNN) — ABC is laying the groundwork for a landmark First Amendment fight. On Thursday, ABC filed paperwork to renew its local TV station licenses “under protest in response to an unlawful, arbitrary, and unconstitutional order” by the Federal Communications Commission. ABC attached an extraordinary objection letter that accused

By Mustafa Qadri, CNN (CNN) — It’s deemed outrageously expensive, it’s insulting to existing owners and perhaps most damning of all – it looks like a Nissan Leaf. Those are just some of the unflattering comments directed at Ferrari’s first electric car, the Luce, since it was unveiled earlier this week by the legendary Italian

By Alicia Wallace, CNN (CNN) — High gas prices pushed up inflation again last month while adding to Americans’ financial strain: Households are saving at the lowest rate in nearly four years, a new report showed Thursday. The Iran war’s oil price shock lifted the Federal Reserve’s preferred inflation gauge to 3.8% in April from

By Brian Stelter, CNN (CNN) — CNN is suing Perplexity, accusing the AI company of unlawfully copying and distributing CNN’s content. Thursday’s lawsuit joins a long list of legal actions by publishers like The New York Times against generative AI startups. But it is CNN’s first AI copyright action and is thought to be the

By Hanna Ziady, CNN London (CNN) — Albert Manifold, the ousted chairman of BP, is refusing to leave quietly, creating a headache for the British oil giant as it seeks to move on from the latest bout of leadership upheaval. In a blistering response to his removal from the company Thursday, Manifold hit out at

By Matt Egan, CNN New York (CNN) — When he launched his presidential campaign in late 2022, then-candidate Donald Trump blasted his successor for aggressively releasing oil from America’s emergency stockpile ahead of the midterm elections. “The strategic national reserves, which I filled up, have been virtually drained in order to keep gasoline prices lower,

By Lisa Eadicicco, CNN (CNN) — It’s a tough job market for software engineering hopefuls. Tens of thousands of jobs cuts across the industry have increased competition for open spots. The rise of AI has spurred fears of cheating during interviews, and company priorities are changing as the tech evolves almost daily. But hiring managers

By Marshall Cohen, Elisabeth Buchwald, CNN (CNN) — When Andrew needed money for a flight with friends to Greece this summer, the 18-year-old high school senior turned to prediction markets. With a $500 cash advance from his credit card company, Andrew sat in a Starbucks for more than six hours, trading on live tennis matches

By Jeanne Sahadi, CNN (CNN) — There is a new app going live on Thursday for parents who set up Trump Accounts for their children, Treasury Secretary Scott Bessent said Wednesday. Bessent announced in a cabinet meeting on Wednesday that the app would be available “on all major platforms tomorrow morning,” and noted that nearly

By Jordan Valinsky, Brynn Gingras, CNN New York (CNN) — Astronomical prices for tickets to the upcoming World Cup soccer tournament have sparked an investigation by the attorneys general of New York and New Jersey. On Wednesday, New York Attorney General Letitia James and New Jersey Attorney General Jennifer Davenport jointly announced that they’re subpoenaing

By Alicia Wallace, CNN (CNN) — There’s been a “remarkable” increase over the past few years in Americans struggling to put food on the table, and that’s likely contributing to record-low consumer sentiment readings, new Federal Reserve Bank of New York research showed Wednesday. The New York Fed updated a 2020 analysis on the disproportionate

By Jordan Valinsky, CNN New York (CNN) — Lululemon has settled its high-profile feud with founder Chip Wilson, and the deal includes a clause preventing him from badmouthing the company for a year and a half. On Wednesday the struggling athleisure brand announced it had reached a “cooperation agreement” with Wilson, the company’s second largest

By David Goldman, CNN (CNN) — The clock is ticking for President Donald Trump to get a deal done with Iran. Or maybe it’s the other way around: Iran could be dealing with a ticking time bomb – in its own oil wells! With just days to go before they’re destroyed. That’s according to Trump,

By Matt Egan, CNN New York (CNN) — Markets are breathing a sigh of relief that the shaky US-Iran ceasefire survived the long weekend and progress is being made on a potential deal to end the war. US stocks are flirting with all-time highs and oil futures have backed away from $100 a barrel. And

By Auzinea Bacon, CNN (CNN) — K-pop group BTS made waves in March with their first concert together in nearly four years. Now the famed boy band is teaming up with Oreo, one of America’s most famous cookie brands, for a limited-edition flavor. Limited-edition releases help the more-than-century-old Oreo brand maintain its cultural relevance, and

By Hanna Ziady, CNN London (CNN) — BP said Tuesday it had dismissed its chairman Albert Manifold after less than a year in the role, citing “serious concerns” about “governance standards, oversight and conduct.” The surprise ouster marks the latest leadership turmoil at the British oil giant, which has seen several CEOs depart abruptly under

By John Towfighi, CNN New York (CNN) — The S&P 500 on Friday clinched its eighth straight weekly gain, the index’s longest winning streak since 2023. The reasons might sound familiar: strong corporate earnings and AI enthusiasm as investors look past concerns about the war with Iran. But in the bond market, bad vibes are

By Auzinea Bacon, CNN (CNN) — A new coffee chain may be headed to a town near you, and it’s not Starbucks or Dunkin’. Many Americans likely haven’t heard of 7 Brew, which has only been around since 2017 when it opened its first location in Rogers, Arkansas. The chain has since grown to over

By Chris Isidore, CNN (CNN) — Americans are packing the highways and airports this holiday weekend – even with gas and airfares significantly more expensive than last year. AAA projected that a record number of Americans are traveling this weekend, with 45 million either flying or driving at least 50 miles from home, up from

By Lisa Eadicicco, CNN (CNN) — There’s a simple reason Google is making sweeping changes to its iconic, decades-old search engine: users are making complicated requests. “People are asking much longer and harder questions that no longer have a clear response anywhere on the internet,” said Robby Stein, vice president of product for Google Search.

By Brian Stelter, CNN (CNN) — “The Late Show with Stephen Colbert” went out on a literal high note. Thursday night’s series finale was the most-watched weeknight episode of Colbert’s eleven-year tenure on the show, according to overnight Nielsen ratings. Colbert and co. averaged 6.a74 million viewers, even beating his first episode as host back

By Lucy Bayly, CNN (CNN) — Kevin Warsh was sworn in Friday at the White House as Chairman of the Board of Governors of the Federal Reserve System, succeeding Jerome Powell in one of the world’s most powerful economic positions. Warsh, 56, steps into the four-year role at a time of mounting uncertainty over inflation,

By Alicia Wallace, CNN (CNN) — Americans just loathe this economy. A closely watched measurement of US consumer sentiment fell to a fresh, all-time low in May, according to the latest survey from the University of Michigan. The May consumer sentiment index dropped for the third consecutive month, falling to 44.2 and landing below the

By Amy Gunia, CNN (CNN) — The repercussions of the Iran war have been felt globally, but the United Arab Emirates has suffered a more direct impact than most, targeted by missile and drone strikes. Those attacks have also threatened its image as a glamorous haven for tourists to the Middle East. Still, Abu Dhabi

By Hadas Gold, CNN (CNN) — Meta. Nike. Intuit. UPS. It seems every day a new company announces layoffs, often citing AI as the cause. AI is already reducing US monthly payroll growth by roughly 16,000 jobs in the past year, according to a recent Goldman Sachs report. Knowledge workers face the sharpest exposure, as

By Samantha Delouya, CNN (CNN) — For more than two years, David and Lindsay Lepinsky bid over asking price, waived contingencies and stretched their budget in central New Jersey’s brutally competitive housing market. Still, their offers kept getting passed over as homes sold for tens – and sometimes hundreds – of thousands of dollars above

By Jordan Valinsky, CNN New York (CNN) — Byron Allen got his first big break as a teenage comedian on Johnny Carson’s “The Tonight Show.” Nearly five decades later, he is returning to late night not just as a comic, but as a billionaire media mogul with a sprawling and unconventional empire. Allen owns The

CNN By Brian Stelter, CNN (CNN) — Stephen Colbert put on an emotional and existential final episode of “The Late Show” Thursday night, thanking his staff, studio audience and viewers for eleven years of laughs. Colbert walked on stage to deafening cheers at the Ed Sullivan Theater, where longtime friends and VIPs filled the rows

By Brian Stelter, CNN (CNN) — Stephen Colbert put on an emotional and existential final episode of “The Late Show” Thursday night, thanking his staff, studio audience and viewers for eleven years of laughs. Colbert walked on stage to deafening cheers at the Ed Sullivan Theater, where longtime friends and VIPs filled the rows of

By Samantha Delouya, CNN (CNN) — Turmoil in the bond market, fueled by the war with Iran, is sending US mortgage rates higher and threatening to make buying a home even more expensive. The average 30-year fixed-rate mortgage rose to 6.51% this week, reaching the highest level since August of last year, according to Freddie

By Hanna Ziady, CNN London (CNN) — The US Department of Commerce is awarding $2 billion to American quantum-computing companies — half of which will go to IBM — to bolster the buildout of super computers that could solve some of the world’s most pressing problems. The move comes amid growing investment into quantum computing

By Liam Reilly, CNN (CNN) — Netflix is taking another step toward becoming a live TV destination. The streaming giant announced Thursday that “The Breakfast Club,” the influential iHeartMedia morning show co-hosted by Charlamagne Tha God, DJ Envy and Jess Hilarious, will stream live on Netflix every weekday starting June 1. The move marks Netflix’s

By Ella Nilsen, CNN (CNN) — Extreme weather has impacted every corner of the US, from deadly floods to sweltering heat. For Americans, the changing climate has made protecting their homes increasingly important. Finding a “climate haven” in the United States has become more difficult with the warming planet. Storms can dump biblical amounts of

By John Liu, Yoonjung Seo, CNN Hong Kong/Seoul (CNN) — Samsung Electronics has become one of the leading beneficiaries of the global artificial intelligence boom. Surging demand for semiconductors has turned South Korea’s largest corporation into a $1 trillion company this year, propelling Seoul’s stock market to rank as the world’s sixth-largest. But one segment

By Hadas Gold, Kristen Holmes, CNN (CNN) — The White House on Thursday postponed plans for President Donald Trump to sign an executive order establishing a voluntary review process for artificial intelligence models before they’re released, according to a source familiar with the plans. Trump said he had delayed the EO signing because he “didn’t

By David Goldman, Chris Isidore, CNN (CNN) — SpaceX revealed its long-awaited plans to go public on Wednesday, shedding light on the finances and leadership of one of the largest, best-known and yet most secretive private companies in history. Elon Musk’s rocket and satellite company revealed previously undisclosed details, including its board members, sales, profit,

By Samantha Delouya, CNN (CNN) — A landmark housing affordability package moved one step closer to becoming law on Wednesday after winning bipartisan approval in the House of Representatives. The measure is an amended version of the 21st Century ROAD to Housing Act, which cleared the Senate in March. The bill, which won approval in

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