Money

By John Towfighi, CNN New York (CNN) — Brent crude has climbed back above $100 per barrel and the Strait of Hormuz, a critical artery for the global economy, remains closed. But the stock market is brushing off the turmoil. The S&P 500 and Nasdaq Composite hit record highs on Wednesday, resuming a rally despite

By Andrew Kirell, CNN (CNN) — A federal judge on Wednesday tossed out prominent Trump ally Laura Loomer’s defamation lawsuit against Bill Maher and HBO, ruling that the “Real Time” host’s joke about her constituted protected speech and not defamation. Maher suggested during his September 13, 2024, broadcast that Loomer, a far-right activist with a

By Chris Isidore, CNN (CNN) — Spirit Airlines is close to getting a $500 million bailout from the federal government, according to a source familiar with the negotiations. The deal is expected to include the federal government taking a stake in the troubled airline, which had struggled to make money ever since the Covid pandemic.

By Brian Stelter, CNN (CNN) — Paramount’s blockbuster acquisition of Warner Bros. Discovery, CNN’s parent company, is poised to clear a pivotal hurdle later this week. Warner will hold a special meeting for shareholders to vote on the $110 billion bid on Thursday morning. With the company’s board and multiple proxy advisory firms urging shareholders

By Hanna Ziady, CNN London (CNN) — The European Union has unveiled a raft of planned emergency measures to cushion its economy from soaring energy costs. The proposals, announced Wednesday, underscore the economic damage the Iran war is inflicting on Europe, which only recently emerged from the energy crunch precipitated by Russia’s 2022 invasion of

By Jordan Valinsky, CNN New York (CNN) — The Gates Foundation has launched an independent investigation into ties between the philanthropic organization and convicted sex offender Jeffrey Epstein. The foundation, which provides billions of dollars in charitable donations, said in a statement Tuesday that it has “commissioned an external review to assess past foundation engagement with Epstein”

By David Goldman, CNN (CNN) — From his start at Apple, Tim Cook was a numbers guy. Shortly after Steve Jobs returned to Apple (AAPL) in the late 1990s to rescue the company he had founded, he hired Cook from Compaq to run Apple’s supply chain and operations. Jobs was in charge of the flashy

By John Liu, CNN Hong Kong (CNN) — A customer’s complaint about a disappointing cake kicked off a massive investigation that uncovered thousands of “ghost” food vendors in China, resulting in staggering fines for some of the country’s largest firms and highlighting the pitfalls of the cutthroat price competition. The inquiry –– marked by scuffles

By Hadas Gold, CNN (CNN) — Florida Attorney General James Uthmeier opened an investigation into OpenAI over whether the company “bears criminal responsibility” for a shooting at Florida State University last year. The attorney general’s office said it is investigating whether OpenAI’s ChatGPT helped the suspect, Phoenix Ikner, carry out the crime. “If that bot were

By Kit Maher, David Goldman, CNN (CNN) — Safe sex could get more expensive if the Iran war continues to disrupt global supply chains, according to a new interview with the CEO of the world’s largest condom manufacturer. Karex CEO Goh Miah Kiat told Reuters on Tuesday that the company may be forced to raise

By David Goldman, CNN (CNN) — Confirmation hearings for Federal Reserve chairs are usually staid, rubber-stamp affairs. Not this one. Democrats and one key Republican from the Senate Banking Committee repeatedly attacked President Donald Trump; his pick for Fed chair, Kevin Warsh; and at times, both, in a fiery hearing that included questions about an

By Alicia Wallace, CNN (CNN) — Americans saw large chunks of their wallets get eaten up by soaring gas prices in March; however, consumers still had money left in the tank to spend elsewhere. A war-driven spike in gas prices sent US retail sales 1.7% higher March, the fastest monthly pace in more than three

By Ramishah Maruf, CNN New York (CNN) — Apple veteran John Ternus will take over the $4 trillion company as CEO come September 1. “Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor,” he said in a

CNN By Ramishah Maruf, CNN New York (CNN) — Apple veteran John Ternus will take over the $4 trillion company as CEO come September 1. “Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor,” he said in

By Lisa Eadicicco, CNN (CNN) — Tim Cook, the executive who led Apple to become a $4 trillion company and defined its identity in the post-Steve Jobs era, is stepping down as CEO, Apple said on Monday. John Ternus, Apple’s senior vice president of hardware engineering, will take over as CEO effective September 1. Cook

By Hadas Gold, CNN (CNN) — Satirical news site The Onion said it has reached an agreement to take over conspiracy theorist Alex Jones’ InfoWars company, in a move that could help repay the more than $1 billion he owes the families of Sandy Hook shooting victims. Should The Onion win court approval, it would

By Clare Duffy, CNN New York (CNN) — A group of parents and advocates gathered on Capitol Hill on Tuesday in a renewed push for online safety legislation, hoping to build on the momentum of court wins against social media companies last month. With the Capitol building as a backdrop, they were surrounded by 150

By Brian Stelter, CNN (CNN) — FBI director Kash Patel has sued The Atlantic and reporter Sarah Fitzpatrick over a story that alleged Patel has “alarmed colleagues with episodes of excessive drinking and unexplained absences.” The defamation suit, filed Monday morning in US District Court in the District of Columbia, seeks $250 million in damages.

By Elisabeth Buchwald, CNN (CNN) — Tariff refunds are finally happening. Well, sort of. Exactly two months after the Supreme Court struck down President Donald Trump’s most sweeping tariffs, American importers, who are owed $166 billion in refunds plus interest, can begin applying for reimbursement Monday through a new US Customs and Border Protection portal.

By Bryan Mena, CNN (CNN) — Kevin Warsh has spent years criticizing the Federal Reserve for doing too much. More recently, he has suggested it may need to do the opposite. That tension will be front and center Tuesday at his confirmation hearing before the Senate Banking Committee, delivering the first real test of how