Money

By Chris Isidore, CNN (CNN) — ExxonMobil and Chevron, America’s two largest oil companies, both reported a sharp drop in profit for the first three months of this year. But much bigger profits likely lay ahead because of rising oil prices during the war with Iran. Oil and gas prices rose in the runup to

By John Towfighi, CNN New York (CNN) — Markets just had a month of seemingly contradictory results. The S&P 500 just had its best month in nearly six years, even though oil prices have surged back above $100 per barrel and bond yields have climbed. Stocks are forward looking and trying to see past the

By Lisa Eadicicco, CNN (CNN) — Apple CEO Tim Cook is used to being asked about the company’s product strategy, tariffs and AI. But on Thursday’s earnings call, one analyst wanted to know: What advice would he give to his successor? Apple on Thursday reported second-quarter earnings and what Cook said was the company’s “best

By Jeanne Sahadi, CNN (CNN) — President Donald Trump signed an executive order Thursday that put some meat on the bones of a retirement savings proposal he introduced in his State of the Union address in February. The proposal is intended to help close the so-called retirement coverage gap, which has left behind more than

By Samantha Delouya, Hadas Gold, Ramishah Maruf, CNN Oakland, Calif. (CNN) — Elon Musk spent the better part of three days on the stand, accusing OpenAI and its executives of deceiving him into donating money to help found what is now one of the world’s biggest AI companies. The lawsuit pits Musk against his former

By Brian Stelter, CNN (CNN) — President Donald Trump says ABC had “better” fire Jimmy Kimmel soon, in his latest broadside against the network and its popular late-night comedian. Trump posted to Truth Social on Thursday morning, “When is ABC Fake News Network firing seriously unfunny Jimmy Kimmel, who incompetently presides over one of the

By Alicia Wallace, CNN (CNN) — Fast-rising gas prices lifted the Federal Reserve’s preferred inflation gauge to 3.5% in March, its highest rate in almost three years, new data showed Thursday. The Personal Consumption Expenditures price index rose 0.7% from February, a faster-than-expected acceleration from the previous monthly pace of 0.4%, the Commerce Department reported

By Bryan Mena, CNN Washington (CNN) — The US economy picked up steam in the beginning of the year as the United States and Israel launched a destabilizing war with Iran that has jacked up prices and is still ongoing. Gross domestic product, which measures all the goods and services produced in the economy, registered

By Elisabeth Buchwald, CNN (CNN) — After eight years spanning three administrations, 66 interest-rate-setting meetings, a pandemic, a criminal probe and countless attacks from the Trump administration, Jerome Powell capped his final policy meeting as chair of the Federal Reserve on Wednesday. But he’s not going far: While Powell’s term as chair ends on May

CNN By John Liu, Stephanie Yang and Hanna Ziady, CNN Hong Kong/London (CNN) — Oil briefly surpassed $126 a barrel Thursday, its highest price in four years, as some traders worried about an escalation in the US-Iran war that would keep the Strait of Hormuz effectively shut. Brent crude, the global benchmark, surged overnight to

By John Liu, Stephanie Yang and Hanna Ziady, CNN Hong Kong/London (CNN) — Oil briefly surpassed $126 a barrel Thursday, its highest price in four years, as some traders worried about an escalation in the US-Iran war that would keep the Strait of Hormuz effectively shut. Brent crude, the global benchmark, surged overnight to touch

By Jeanne Sahadi, CNN (CNN) — Wednesday marked the last meeting of the Federal Open Market Committee under the leadership of Federal Reserve Chair Jerome Powell. Powell chaired his first of more than 65 meetings in March 2018. During his eight years at the helm, the FOMC raised the central bank’s key overnight lending rate

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve on Wednesday kept interest rates unchanged for a third consecutive meeting, with some key policymakers signaling concern over still-elevated energy prices due to the US-Israeli war with Iran. Fed officials kept the benchmark lending rate in a range of 3.5-3.75%, in what was Jerome Powell’s

By Samantha Delouya, Hadas Gold, CNN Oakland, Calif. (CNN) — Elon Musk sparred with OpenAI’s attorney under cross examination on the second day of his testimony, as lawyers for both sides zeroed in on his souring relationship with the organization that kicked off the AI race. Musk claims OpenAI betrayed its initial nonprofit mission when

By Clare Duffy, CNN New York (CNN) — Seven families of victims in a February school shooting sued OpenAI and CEO Sam Altman on Wednesday, alleging the company and its ChatGPT chatbot were complicit in the injuries or deaths of their children. The lawsuits follow an apology from Altman last week to the Tumbler Ridge

By Hadas Gold, CNN (CNN) — OpenAI is expanding access to its most advanced AI models to help businesses and governments shore up their cyber defenses, a sharp contrast to rival Anthropic, which says controlling access to its models is the best way to boost global cybersecurity. The difference in the two companies’ approaches to

By Hadas Gold, Samantha Delouya, Ramishah Maruf, CNN Oakland, California (CNN) — Sam Altman and Greg Brockman, the leaders of ChatGPT-maker OpenAI, sat in an Oakland, California courtroom on Tuesday as former collaborator and one-time mentor Elon Musk testified that the pair conspired to try to “steal a charity.” Musk was the first witness called

KGO, VICKI BEHRINGER, CNN By Hadas Gold, Samantha Delouya, Ramishah Maruf, CNN Oakland, California (CNN) — Sam Altman and Greg Brockman, the leaders of ChatGPT-maker OpenAI, sat in an Oakland, California courtroom on Tuesday as former collaborator and one-time mentor Elon Musk testified that the pair conspired to try to “steal a charity.” Musk was

By Matt Egan, CNN Washington (CNN) — Federal Reserve Chair Jerome Powell is no stranger to tough decisions, but now he faces one of his toughest and most personal calls yet: Leave the stage or stick around in a supporting role once his replacement takes the helm of the US central bank. Powell’s term as

By Brian Stelter, CNN (CNN) — On the day that the Trump administration challenged ABC’s station licenses, Jimmy Kimmel had a message for President Donald Trump: The show goes on. On Tuesday night’s episode of “Jimmy Kimmel Live!” the comedian did not refer to the news about the network’s parent company, Disney, coming under highly