Money

By Alicia Wallace, CNN (CNN) — US wholesale inflation rose slightly in May, driven in part by costlier goods; however, tariff-related effects were largely muted. The latest Producer Price Index, a closely watched measurement of wholesale inflation, showed that prices paid to producers rose 0.1% in May, lifting the annual rate to 2.6%, according to

By Anna Cooban, CNN London (CNN) — Britain’s economy shrank by the most in nearly two years in April, when President Donald Trump’s tariffs also caused UK goods exports to the United States to fall by a record amount. Gross domestic product contracted by an estimated 0.3% that month – after expanding 0.2% in March

By John Towfighi, CNN New York (CNN) — Wall Street traders hunting for profits might find that the most lucrative investments are in the peculiar market for precious metals. Gold, silver and platinum prices have surged this year as investors have piled into precious metals in search of places to hide from trade war uncertainty.

By Liam Reilly, CNN (CNN) — The Washington Post on Wednesday announced it has a new Opinion editor. The move comes four months after it announced a “significant shift” to the Opinion page and the departure of its embattled section chief. Adam O’Neal, who currently serves as The Economist’s Washington correspondent, will take over as

By John Towfighi, CNN New York (CNN) — JPMorgan Chase CEO Jamie Dimon warned on Tuesday that encouraging economic data could soon turn worrisome as President Donald Trump’s tariffs continue to bite. “You’re going to see real numbers, and I think there’s a chance real numbers will deteriorate soon,” Dimon said, according to a FactSet

By Clare Duffy, CNN New York (CNN) — Disney and Universal are suing AI photo generation company Midjourney, marking the first major legal showdown between Hollywood studios and an artificial intelligence company. Midjourney, which enables users to create realistic-looking images from a text prompt in just seconds, is one of the most popular AI image

By David Goldman, CNN (CNN) — Commerce Secretary Howard Lutnick, back in Washington after two days helping to negotiate a US-China trade framework in London, said Wednesday that Trump gave his team permission to back off its aggressive stance against China to get a deal done. Lutnick told CNBC in his first interview since the

By Liam Reilly, CNN (CNN) — The New York Times on Wednesday announced major changes to its iconic Dining beat: the appointment of two co-chief restaurant critics and an expansion into video reviews. The newspaper is also more seriously turning its gaze nationwide, marking a critical turning point for a section that has long been

By Ryan Struyk, CNN (CNN) — White House AI czar David Sacks dismissed concerns about artificial intelligence taking away jobs on Tuesday, just days after a major AI leader warned the technology could lead unemployment to climb as high as 20% in the next few years. “Personally, I don’t think it’s (AI) going to lead

By Alicia Wallace, CNN (CNN) — Inflation rose less than expected in May, a month when the effects of higher tariffs were starting to become more widespread. Consumer prices rose 0.1% last month, while the annual inflation rate increased to 2.4% from a four-year-low of 2.3% notched in April, according to the latest Consumer Price

By Jordan Valinsky, CNN New York (CNN) — Starbucks is dipping its toes in the increasingly growing appetite for protein, with a new topping for its coffee drinks. The company is testing a new protein cold foam at five US locations as part of CEO Brian Niccol’s plans to expand into the wellness sector and

By Jordan Valinsky, CNN New York (CNN) — Nintendo announced Wednesday that it sold more than 3.5 million Switch 2 consoles, marking a new record for the company. The Japanese company said that it’s the “highest global sales level” for any Nintendo device within the first four days of release and perhaps puts Nintendo in

By Jordan Valinsky, CNN New York (CNN) — The vibrant burst of orange flavor emanating from a Blue Moon is so lip-smacking good that it’s being turned into a lip balm. The Molson Coors-owned brand is partnering with Eos, a popular beauty company, to make a lip balm inspired by the punchy, Valencia orange flavor

By Samantha Delouya and Tami Luhby, CNN (CNN) — Cara Petersen, the Consumer Financial Protection Bureau’s acting enforcement director, resigned from the agency on Tuesday. In an email to colleagues announcing her decision, Petersen slammed the Trump administration’s efforts to dismantle the agency, which was established as a banking watchdog following the 2008 global financial

CNN By Anna Cooban, CNN London (CNN) — Elon Musk said Wednesday that he regrets some of his recent social media posts about President Donald Trump. “I regret some of my posts about President @realDonaldTrump last week. They went too far,” Musk said in a post on X. Musk’s relationship with Trump deteriorated in a

By Anna Cooban, CNN London (CNN) — Elon Musk said Wednesday that he regrets some of his recent social media posts about President Donald Trump. “I regret some of my posts about President @realDonaldTrump last week. They went too far,” Musk said in a post on X. Musk’s relationship with Trump deteriorated in a spectacular,

Story by Reuters (Reuters) — Australia’s Qantas QAN.AX said on Wednesday it will close Jetstar Asia, the group’s Singapore-based budget airline, as it reels with rising supplier costs, higher airport fees and intensifying competition among low-cost carriers. The move will free A$500 million ($326.40 million) in capital for the flag carrier to invest in its

By Ramishah Maruf and Devan Cole, CNN (CNN) — President Donald Trump’s heftiest tariffs cleared a court hurdle for now, after a federal appeals court ruled Tuesday that they could take effect while legal challenges play out. But the appeals court put the tariff cases on a fast track for a resolution this summer. The

By Nectar Gan and John Liu, CNN Hong Kong (CNN) — The United States and China have agreed on a framework to implement their trade truce, officials on both sides said Wednesday, after concluding two days of talks in London to defuse tensions and ease export restrictions that threaten to disrupt global manufacturing. American and

By Luciana Lopez, Chris Isidore and Vanessa Yurkevich, CNN (CNN) — General Motors said on Tuesday that it would invest $4 billion into three US plants to boost production of gas and electric vehicles, as a 25% tariff on imported cars by President Donald Trump threatens the bottom lines of automakers that sell in the