Money

By Elisabeth Buchwald, CNN (CNN) — US President Donald Trump announced a new trade deal with South Korea, which calls for 15% tariffs on goods from there, after the country scrambled to secure an agreement ahead of the Friday deadline. “The Deal is that South Korea will give to the United States $350 Billion Dollars

By Clare Duffy, CNN New York (CNN) — If Meta investors had concerns about the company’s huge spending on artificial intelligence infrastructure and talent — and its ambitious “superintelligence” goal — they’re likely to be assuaged by its blockbuster earnings report on Wednesday. The results, as one analyst put it, indicates that “AI is becoming

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve on Wednesday kept interest rates unchanged for the fifth consecutive meeting as it remains under intense pressure from President Donald Trump and his allies to lower borrowing costs. The central bank left its benchmark lending rate at a range of 4.25% to 4.5%, where it

By Jordan Valinsky, CNN New York (CNN) — High Noon is issuing a voluntary recall of its vodka seltzer after some cases were mislabeled as Celsius energy drinks, potentially resulting in someone accidentally drinking alcohol. The Food and Drug Administration said in a release Wednesday that cases of High Noon’s Beach Variety shipped from July

By Phil Mattingly, Kit Maher, CNN (CNN) — US President Donald Trump is ratcheting up the pressure on India, calling into question the prospects of a deal with a key US trading partner just days before his tariff deadline. In social media posts Wednesday, Trump sharply attacked India’s trade barriers and directly targeted its sustained

By Bryan Mena, CNN Washington (CNN) — The US economy expanded sharply in the second quarter as businesses dialed back on imports after stocking up earlier in the year to get ahead of President Donald Trump’s tariffs. But a look under the hood shows an economy that’s sputtering. Gross domestic product, which captures all the

By Jordan Valinsky, CNN New York (CNN) — Starbucks is shutting down its pick-up only store model just six years after introducing the concept, because they no longer mesh with the struggling coffee chain’s overall strategy. “We found this format to be overly transactional and lacking the warmth and human connection that defines our brand,”

CNN, POOL By Phil Mattingly, CNN (CNN) — President Donald Trump said he didn’t want to make things personal as he stood next to Federal Reserve Chair Jerome Powell on a tour of the Fed’s $2.5 billion renovation last week. That brief respite in Trump’s relentless rhetorical war on his favorite economic foil will almost

By Phil Mattingly, CNN (CNN) — President Donald Trump said he didn’t want to make things personal as he stood next to Federal Reserve Chair Jerome Powell on a tour of the Fed’s $2.5 billion renovation last week. That brief respite in Trump’s relentless rhetorical war on his favorite economic foil will almost certainly expire

By Jordan Valinsky, CNN New York (CNN) — International House of Pancakes, a.k.a. IHOP, is leaning into the first word of its name and jumping on a global viral trend that is as lavish as it is expensive. The chain is capitalizing on the “Dubai Chocolate” trend, which has tantalized TikTok users over the past

By Jordan Valinsky, CNN New York (CNN) — Despite being owned by different companies, Oreo and Reese’s are bowing to the fan’s demands and releasing a sweet collaboration. Oreo, owned by Mondelēz International, and Reese’s, part of the Hershey Company, are introducing two new treats that combine flavors from both snacks. Team ups between rival

By Hilary Whiteman, CNN Brisbane, Australia (CNN) — Australia has picked a fight with the world’s largest video platform by backtracking on an earlier promise to exclude YouTube in its social media ban for children under 16. The Labor government said Wednesday the site, which is owned by Google’s parent company Alphabet, will be subject

By David Goldman, CNN (CNN) — President Donald Trump on Tuesday threatened to raise tariffs on Indian imports as high as 25% if the allied nations cannot complete a long-sought trade agreement. “They are going to pay 25%,” Trump said. When asked by a reporter if India would pay tariffs of 20% to 25%, Trump

By Elisabeth Buchwald, CNN (CNN) — Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a resolution to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies. But President Donald Trump’s trade advisers and their Chinese counterparts sounded a hopeful

By Jordan Valinsky, CNN New York (CNN) — Procter & Gamble, the maker of several household staples including Tide detergent and Charmin toilet paper, is hiking prices because of President Donald Trump’s tariffs. The company revealed in Tuesday’s earnings call that its profits will take a $1 billion hit because of tariffs, a larger cost

By Bryan Mena, CNN Washington (CNN) — The Trump administration’s trade agreements with a handful of countries are helping Americans feel somewhat more confident about the economy’s health and its future. Consumer confidence climbed 2 points this month to a reading of 97.2, the Conference Board said Tuesday, showing people’s attitudes about the economy have

By Anna Cooban, CNN London (CNN) — For the first time India has overtaken China as the No. 1 exporter of smartphones to the United States, following Apple’s tariff-driven manufacturing pivot to New Delhi. India-made devices accounted for 44% of smartphone imports in the US during the second quarter, up sharply from 13% during the

By Nayeli Jaramillo-Plata, CNN (CNN) — In Alaska’s North Slope region — the northernmost county in the US, roughly the same size as the United Kingdom — one small public radio station, KBRW, keeps eight Iñupiat villages connected and serves about 10,000 people. Now, it may not survive. Last Thursday, President Trump signed into law

By Chris Isidore, CNN (CNN) — Two of the largest US railroads, Union Pacific and Norfolk Southern, announced on Tuesday a plan to combine in a $72 billion deal that would create America’s first transcontinental freight railroad. The stock and cash deal would be the largest ever in a sector that has already massively consolidated

By Vanessa Yurkevich, CNN New York (CNN) — On August 1, hundreds of countries will come to learn their fate with the United States, when President Donald Trump’s pause on “reciprocal” tariffs ends. Thousands of US businesses will also learn their fates. However, after months of whipsaw trade policy, planning with any sort of certainty