CNN – Business/Consumer

By John Liu, CNN (CNN) — Despite years of engagement in a global chip war, China remains a vital operation base for several Asian-grown champions. But even from afar, Washington still holds key levers of power. The latest example: The US government’s revoking of authorization for Taiwanese and South Korean chip titans to freely send

By Bryan Mena, CNN Washington (CNN) — The Justice Department is investigating Federal Reserve governor Lisa Cook to probe whether she submitted fraudulent mortgage applications, according to the Associated Press. DOJ investigators have begun issuing subpoenas as part of the probe, the AP reported, citing a person familiar with the matter who was not authorized

By Hadas Gold, CNN (CNN) — Billionaire and onetime top White House advisor Elon Musk said he was invited to a tech leader summit at the White House’s newly renovated Rose Garden on Thursday, but will not be attending. “I was invited, but unfortunately could not attend. A representative of mine will be there,” Musk

By Lianne Kolirin, CNN (CNN) — Harrods, the high-end London department store, has applied to local authorities for permission to remove sculptures of disgraced former owner Mohamed Al Fayed from its interior. The renowned business, which started life as a grocery store in 1849, has submitted detailed plans to overhaul its Egyptian-themed hall and a

By Bryan Mena, CNN Washington (CNN) — Stephen Miran, the White House economist President Donald Trump nominated to the Federal Reserve’s top ranks, just got an earful about the importance of the central bank’s independence — just as the Trump administration actively defends removing Fed Governor Lisa Cook from her post. The Senate Banking Committee

By Alicia Wallace, CNN (CNN) — Warning signs have been flashing for months that the US job market has been losing steam. That became starkly clearer in July, and the early data for August isn’t looking much better. New metrics released Thursday showed that first-time claims for unemployment benefits rose to an 11-week high; that

By Ruben Correa, Gordon Ebanks, CNN (CNN) — The winning numbers for Saturday’s $1.8 billion Powerball jackpot are 11, 23, 44, 61, 62 with red Powerball of 17 and a Power Play multiplier of 2. The jackpot is the second-largest in US lottery history, behind only the record $2.04 billion Powerball jackpot won in 2022

By Jeanne Sahadi, CNN (CNN) — The first and second quarters were, um, tumultuous for investors, including for anyone with a 401(k) or other workplace retirement plan. After dropping like a stone in April following the announcement of the Trump administration’s punitive and highly confusing tariffs regime, stocks eventually staged a comeback to finish the

By Ramishah Maruf, CNN New York (CNN) — American Eagle stock surged 25% after its earnings report Wednesday, with its CEO thanking the controversial Sydney Sweeney “Good Jeans” ad campaign for boosting brand awareness and profit. “The fall season is off to a positive start. Fueled by stronger product offerings and the success of recent

By Allison Morrow, CNN New York (CNN) — Here we are, at the tail end of a strong-despite-tariffs corporate earnings season, staring down a bumpy road through the second half of the year, when out of nowhere comes a flash of… what’s the word… hope? Well, not hope, but at least a reassurance that real-world

By Ramishah Maruf, CNN New York (CNN) — Fast fashion giant Shein said on Wednesday that it was conducting an investigation after a product on its website featured what appeared to be an edited image of Luigi Mangione, the man accused of killing UnitedHealthcare’s CEO last year. Mangione is facing the death penalty in federal

By Liam Reilly, CNN (CNN) — Christopher Ruddy’s pro-Trump channel Newsmax on Wednesday filed an antitrust lawsuit against Fox News, accusing the Rupert Murdoch-owned broadcaster of illegally blocking competition in the right-wing pay-TV market. The lawsuit, filed in the US District Court for the Southern District of Florida against the Fox News Network and its

By Chris Isidore, Nathaniel Meyersohn, CNN (CNN) — Powerball’s advertised $1.4 billion jackpot for Wednesday’s drawing would be the sixth-largest prize in American lotto history. Expect more big paydays like this: Lottery prizes are predicted to soar even higher. The next Powerball winner (or winners) will be the 13th to claim a US lottery prize

By Alicia Wallace, CNN (CNN) — Employment gains were so weak in the July jobs report that President Donald Trump fired the head of the bureau charged with collecting the data, baselessly claiming it was rigged. But fresh figures out Wednesday show that those meager job totals weren’t an anomaly: For the first time in

By Elisabeth Buchwald, CNN (CNN) — The majority of the sweeping tariffs President Donald Trump imposed during his second term face one final litmus test that will determine whether he can continue to levy them – and also whether businesses are eligible for massive refunds. That potentially dramatic turn in the tariff saga comes after

By Gordon Ebanks, CNN (CNN) — Feeling lucky? The winning numbers have been drawn for the massive $1.4 billion Powerball jackpot. Wednesday night’s winning numbers were 3, 16, 29, 61, 69, and red powerball 22, with a Power Play multiplier of 2. It’s not yet clear if there is a big winner. The Powerball jackpot

By Ramishah Maruf, CNN New York (CNN) — A federal appeals court ruled that Rebecca Kelly Slaughter, a Federal Trade Commission commissioner that President Donald Trump fired, can be temporarily reinstated in an order Tuesday. Trump fired Slaughter and another Democratic FTC commissioner, Alvaro Bedoya, in March. While a lower district court ordered her reinstatement

By Lisa Eadicicco, Clare Duffy, CNN (CNN) — A court will not force Google to sell off its Chrome browser or Android, a federal judge said in a court filing on Tuesday. The decision serves as a significant win for the tech company, which has avoided the most extreme possible outcome from a landmark antitrust

By Nathaniel Meyersohn, CNN New York (CNN) — PepsiCo is losing the soda wars to Coca-Cola. That’s nothing new. But after it fell into third place behind Dr Pepper, a heavyweight activist investor said Tuesday that the company needs a drastic shakeup. Elliott Management said it built a massive $4 billion stake in PepsiCo and

By John Towfighi, CNN New York (CNN) — The S&P 500 has soared nearly 30% since its low point in April and investors have cheered the index’s ascent to record highs. The market’s rally also means stocks are relatively expensive — and more vulnerable to a surprise. Stocks had a shaky start to September as