Money

By John Towfighi, CNN New York (CNN) — Stocks hit record highs Thursday after August inflation data mostly matched expectations, reaffirming investors’ hopes that the Federal Reserve will cut interest rates in September. The Dow rose 617 points, or 1.36%, and closed at 46,108, crossing the 46,000-point mark for the first time. It’s a symbolic

By Clare Duffy, CNN New York (CNN) — The Federal Trade Commission has launched an investigation into seven tech companies around potential harms their artificial intelligence chatbots could cause to children and teenagers. The inquiry focuses on AI chatbots that can serve as companions, which “effectively mimic human characteristics, emotions, and intentions, and generally are

By Samantha Delouya, CNN (CNN) — After months of sitting out a sluggish housing market, would-be buyers may finally have a reason to jump in: Borrowing rates are tumbling. The 30-year fixed mortgage rate averaged 6.35% for the week ending September 11, down from 6.50% last week, according to data released Thursday by Freddie Mac.

By Alicia Wallace, CNN (CNN) — The cost of living continues to increase for Americans at a time when the job market appears to be on shakier footing, creating a complicated economic problem that could be tricky to solve. Consumer prices rose 0.4% in August, driving the annual inflation rate to 2.9%, the highest since

CNN By Brian Stelter, Liam Reilly, CNN (CNN) — Charlie Kirk, who was shot and killed on Wednesday, pioneered a new model for conservative political advocacy, merging multi-platform media commentary with in-person gatherings and get-out-the-vote drives. Kirk, 31, was a hugely successful political field organizer, TikTok influencer, radio host, nonprofit leader and public speaker all

By Brian Stelter, Liam Reilly, CNN (CNN) — Charlie Kirk, who was shot and killed on Wednesday, pioneered a new model for conservative political advocacy, merging multi-platform media commentary with in-person gatherings and get-out-the-vote drives. Kirk, 31, was a hugely successful political field organizer, TikTok influencer, radio host, nonprofit leader and public speaker all rolled

By Matt Egan, CNN New York (CNN) — President Donald Trump’s sweeping tariff regime is already reshaping global trade and spiking government customs revenue. But these historic import taxes could also push more Americans into poverty, according to new research. An analysis published by The Budget Lab at Yale on Tuesday finds Trump’s tariff hikes

By Jordan Valinsky, CNN New York (CNN) — Larry Ellison briefly became the world’s richest person Wednesday before ending the day just $1 billion shy of the lead. The uber-billionaire is still on the verge of becoming the world’s richest person, according to the Bloomberg Billionaires Index, growing his net worth $88 billion Wednesday, briefly

By Elisabeth Buchwald, CNN (CNN) — The Department of Labor is initiating an investigation into how the Bureau of Labor Statistics collects and reports “closely watched economic data,” according to a letter the department’s Assistant Inspector General for Audit, Laura Nicolosi, sent to Acting BLS Commissioner William Wiatrowski on Wednesday. This comes one day after

By Bryan Mena, CNN Washington (CNN) — President Donald Trump’s nominee to the Federal Reserve’s powerful board may soon work alongside the same central banker the president tried to fire weeks ago, in what would be a stunning milestone in Trump’s ongoing bid to bend the historically independent Fed to his will. In a Tuesday

By Ana Nicolaci da Costa, CNN London (CNN) — Novo Nordisk, the maker of weight loss drug Wegovy, will lay off about 9,000 people as it grapples with rising competition in the obesity market. The Danish company has been battling it out with US rival Eli Lilly, with each developing newer medicines to turbocharge weight

By Alicia Wallace, CNN (CNN) — US inflation cooled off at the wholesale level in August, bolstering hopes that high tariffs aren’t yet causing prices to spiral out of control, fresh data showed Wednesday. However, economists caution, the better-than-expected reading could be a sign of a slowing economy and that shrinking businesses’ margins could foretell

By Jordan Valinsky, John Towfighi, CNN New York (CNN) — Elon Musk briefly lost his title of “world’s richest person” title to Oracle cofounder Larry Ellison. Ellison’s wealth jumped by $89 billion to $383.2 billion on Wednesday after Oracle’s stunningly strong earnings report Tuesday evening, according to Bloomberg. Oracle (ORCL) reported surging demand for its

By Nathaniel Meyersohn, CNN New York (CNN) — Funding for public train and bus services is so dire that one of the largest cities in America must rely on a sports gambling company to help. FanDuel, a sports betting app, subsidized train service to and from the NFL’s Philadelphia Eagles home opener last week. The

By Chris Isidore, CNN (CNN) — The Hyundai battery plant in Georgia that saw 475 workers arrested in immigration raid last week is just the latest example of President Donald Trump’s policies clashing with his goals for the world’s largest economy. The Trump administration’s immigration enforcement efforts have had widespread impacts on the construction industry,

By Jordan Valinsky, CNN New York (CNN) — Cracker Barrel announced that it’s suspending the renovations of its restaurants following a disastrous logo rollout that sent shares lower. “You’ve shared your voices in recent weeks not just on our logo, but also on our restaurants,” the chain said on X. “If your restaurant hasn’t been

By Jordan Valinsky, CNN New York (CNN) — Ben Cohen and Jerry Greenfield, the cofounders of Ben & Jerry’s ice cream, are fighting with the company’s parents about the independence of the brand they created nearly 50 years ago. The pair, which no longer controls the company they created, wrote an open letter Tuesday addressed

By Jordan Valinsky, CNN New York (CNN) — Girl Scouts of the USA is debuting a new cookie for its upcoming season. The organization announced Tuesday that “Exploremores,” a Rocky Road-inspired cookie, is being added to the lineup when its annual sales begin in January. Like the Girl Scouts’ other cookies, which include the popular