Money

By Clare Duffy, CNN New York (CNN) — The chief executive of one of the world’s leading artificial intelligence labs is warning that the technology could cause a dramatic spike in unemployment in the very near future. He says policymakers and corporate leaders aren’t ready for it. “AI is starting to get better than humans

CNN By Ramishah Maruf, CNN CNN (CNN) — Academics and economists have long warned that rapidly advancing artificial intelligence will wipe out jobs and upend the global economy. Now that call is coming from inside the house. On Thursday, Anthropic CEO Dario Amodei warned on CNN that the technology will spike unemployment sooner than political

By Nathaniel Meyersohn, CNN New York (CNN) — Tariffs are slamming Gap. Gap said Thursday that if President Donald Trump’s 30% tariffs on China and 10% duties on most imports from other countries remain at current levels, it could cost the company $100 million to $150 million this year. Gap (GAP) stock plunged 15% during

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump’s sweeping tariffs — both those he has threatened and those he has already enacted — have led many economists and American consumers to predict that the US economy could enter a recession while also pushing up inflation. But a federal court’s ruling late Wednesday that found

By Bryan Mena, CNN Washington (CNN) — President Donald Trump on Thursday met with Federal Reserve Chair Jerome Powell for the first time in his second term, scolding him for not lowering borrowing costs. Powell maintained that any decisions won’t be based on the president’s demands. The meeting, which comes after months of unrelenting attacks

By Liam Reilly, CNN (CNN) — The New York Times on Thursday announced that it will license content from across its newsroom to train Amazon AI models. Under the multi-year deal, Amazon’s AI services like Alexa will be able to use Times content, including from NYT Cooking and sports website The Athletic, to produce summaries

By Jordan Valinsky, CNN New York (CNN) — Starbucks is changing one of the most generous parts of its loyalty program, marking the latest effort by CEO Brian Niccol to boost profits. Beginning June 24, the coffee chain is eliminating the 25-star bonus for customers that bring in a personal, reusable cup for drink orders.

By Samantha Delouya, CNN (CNN) — After years of bidding wars and climbing home prices, the balance of power in the housing market may finally be shifting. Home sellers now vastly outnumber buyers in the US, according to an analysis released Thursday from real estate company Redfin. The report found that there were nearly 500,000

By David Goldman, John Towfighi and Alicia Wallace, CNN New York (CNN) — Stocks edged higher on Thursday as Wall Street assessed the outlook for President Donald Trump’s tariff agenda, which remains in limbo as federal courts deliberate its legality. The Dow closed higher by 117 points, or 0.28%, after fluctuating throughout the day. The

By Lex Harvey, CNN (CNN) — Behind the monumental court ruling that blocked most of US President Donald Trump’s tariffs is a small wine company run by a father-and-daughter duo. VOS Selections – a small, New York-based wine company – was the lead plaintiff in the lawsuit which prompted a three-judge panel at the US

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