Money

By Ramishah Maruf and David Goldman, CNN New York (CNN) — A federal court on Wednesday ruled that President Donald Trump overstepped his authority to impose sweeping tariffs that have raised the cost of imports for everyone from giant businesses to everyday Americans. But the administration immediately appealed the decision on Wednesday night, leaving the

By Samantha Delouya and Hadas Gold, CNN (CNN) — A group of Tesla investors is urging Elon Musk to commit at least 40 hours a week to running the electric vehicle company, arguing his undivided attention is needed to repair Tesla’s faltering sales and stock price volatility. “Mr. Musk’s outside endeavors appear to have diverted

By Ramishah Maruf, CNN New York (CNN) — Hailey Bieber’s beauty brand rhode sold to budget makeup powerhouse e.l.f. Beauty for $1 billion on Wednesday. It’s e.l.f.’s largest acquisition to date, eclipsing its $355 million purchase of skin care brand Naturium in 2023. Founded in 2022 along with Michael D. and Lauren Ratner, Bieber’s brand

By Clare Duffy, CNN New York (CNN) — Nvidia missed out on $2.5 billion in additional revenue during the first quarter of this year because it had to stop shipping its H20 artificial intelligence chips to China after the Trump administration instituted fresh export restrictions last month. Despite those unearned sales — revealed in the

By Elisabeth Buchwald and John Liu, CNN (CNN) — The Trump administration has effectively cut off some American companies from selling software used to design semiconductors to China, the Financial Times reported on Wednesday. Impacted companies include Cadence, Synopsys and Siemens EDA, according to the FT’s reporting, which cited people familiar with the matter. CNN

CNN By Elisabeth Buchwald, CNN (CNN) — Wall Street has been riding a historic roller coaster the past few months due to President Donald Trump’s on-again, off-again tariff threats. Now, investors are learning to take his words with a grain of salt — and a bit of salsa, too. That’s because there’s a new type

By Liam Reilly, CNN (CNN) — An inaccurate AI-produced reading list recently published by two newspapers demonstrates just how easy it still is for publishers to circulate AI slop. The Chicago Sun-Times and the Philadelphia Inquirer last week published a summer reading insert produced by King Features, a Hearst Newspapers subsidiary that provides the pair

By Ramishah Maruf, CNN New York (CNN) — The website for Victoria’s Secret was back online Friday after a prolonged “security incident” caused the lingerie company to take down the site for several days. The retailer said in an emailed statement Friday it was “back online” and appreciated “our customers’ patience.” It did not immediately

By John Towfighi, CNN (CNN) — John Laurinaitis, a former World Wrestling Entertainment executive, has reached a settlement with a former WWE employee who accused him of sexual assault and has agreed to provide evidence in her ongoing lawsuit against embattled former WWE CEO Vince McMahon. Laurinaitis, who was the co-defendant in a lawsuit against

By Elisabeth Buchwald, CNN (CNN) — Wall Street has been riding a historic roller coaster the past few months due to President Donald Trump’s on-again, off-again tariff threats. Now, investors are learning to take his words with a grain of salt — and a bit of salsa, too. That’s because there’s a new type of

By Bryan Mena, CNN Washington (CNN) — Economists and top policymakers at the Federal Reserve see a growing risk of America’s job market weakening because of President Donald Trump’s erratic trade war, according to minutes from the central bank’s latest policy released Wednesday. “The labor market was expected to weaken substantially,” the minutes said, adding

By Anna Cooban, CNN London (CNN) — The United Nations expects that millions of potential jobs will vanish this year because of an economic slowdown triggered by US President Donald Trump’s trade war. The International Labour Organization (ILO), a UN agency, predicts in a report released Wednesday that 53 million jobs will be created worldwide

By Clare Duffy, CNN New York (CNN) — Google and Apple will soon be required to verify app store users’ ages in Texas, after Gov. Greg Abbott signed the rule into law on Tuesday. The Texas App Store Accountability Act follows similar legislation that passed in Utah earlier this year, although it requires the app

By Nathaniel Meyersohn, CNN New York (CNN) — Companies are warning investors about the risks of becoming the next target of angry customers. Corporate America is required to disclose risks to their businesses in their annual regulatory filings. This year, Walmart, Target, Home Depot, Corona-parent Constellation Brands join an increasing number of companies advising investors

By Jordan Valinsky, CNN New York (CNN) — With beer sales flatlining, Anheuser-Busch is looking beyond hops and toward Ultimate Fighting Championship’s controversial boss Dana White to help them crack the growing energy drink category. Launching nationwide Wednesday is Phorm Energy, the company’s newest energy drink. The non-alcoholic caffeinated beverage marks the first product stemming

By Lisa Eadicicco, CNN (CNN) — In 2011, then-President Barack Obama pressed Apple CEO Steve Jobs on what it would take to bring iPhone production to the United States, according to The New York Times. Fourteen years later, President Donald Trump is resurfacing that question to current Apple CEO Tim Cook – and the stakes

By John Towfighi, CNN New York (CNN) — A divergence is taking hold in markets: While Wall Street is sending money abroad, Main Street is leaning in to America, doubling down on a “buy-the-dip” strategy that has, for now, paid off. Wall Street heavyweights continue to warn that the trade war could hurt the economy,

Reuters (Reuters) — Brazilian labor prosecutors filed a lawsuit on Tuesday against Chinese carmaker BYD, holding it responsible for human trafficking and “slavery-like conditions” for workers building a factory in its biggest market outside China. The lawsuit seeks 257 million reais ($45 million) in moral damages from BYD and two contractors, JinJiang and Tecmonta, according

By Phil Mattingly and Alayna Treene, CNN (CNN) — President Donald Trump stunned European officials and caught some of his own senior advisers off guard with his snap decision Friday to reignite his market-rattling trade war with the European Union. Three days later, he got exactly what he wanted. “I have just been informed that

By Catherine Nicholls, CNN (CNN) — The European Commission has launched an investigation into four major adult websites on Tuesday, accusing them of not complying with regulations that protect minors from accessing pornography. Pornhub, Stripchat, XNXX and XVideos – the websites at the subject of the investigation – are accused of not doing enough to