Money

By Clare Duffy, CNN New York (CNN) — The artificial intelligence industry has a big problem: 95% of companies that try AI aren’t making any money from it, according to a report from the Massachusetts Institute of Technology last month. One AI executive believes he knows why. “There has been this general promise of, hey,

By The Associated Press New York (AP) — Charlie Javice, the founder of a startup company that promised to revolutionize the way college students apply for financial aid, was sentenced Monday to more than seven years in prison for cheating JPMorgan Chase out of $175 million by greatly exaggerating how many students it served. Javice,

By John Liu, CNN Hong Kong (CNN) — The Trump Administration ramped up its pressure on Chinese tech firms on Monday by expanding restrictions imposed on certain companies to also cover their subsidiaries, a move that’s drawn the ire of Beijing as the two powers remain locked in a technology race. The US action aims

By David Goldman, CNN (CNN) — President Donald Trump on Monday ordered significant new tariffs on wood and various wooden products, including imported lumber, timber, kitchen cabinets and upholstered furniture – potentially adding costs to homebuilding and furnishing, which have surged in price in recent months. In a proclamation, Trump said the United States would

By Auzinea Bacon, CNN (CNN) — Large and small coffee chains nationwide are celebrating National Coffee Day on Monday with free cups of joe and other deals. This year is especially important as chains try to reel in consumers who have been cutting back on discretionary spending. Americans have grown more cost-conscious due to fears

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump threatened Monday to impose “substantial Tariffs on any Country that does not make its furniture in the United States,” he wrote in a Truth Social post. “Details to follow!!!” he added. This comes after he announced last week that a 50% tariff on kitchen cabinets and

By Hadas Gold, CNN (CNN) — Elon Musk’s X is the “go-to platform for antisemitic posters,” according to a new year-long study shared exclusively with CNN. The research, by the Center for Countering Digital Hate (CCDH) and the Jewish Council for Public Affairs, found that not only is antisemitism rampant on the platform, but also

By Jordan Valinsky, CNN New York (CNN) — Video game maker Electronic Arts is going private in a $55 billion deal that’s funded by Saudi Arabia and a Jared Kushner-backed investment firm. The company, which makes hits like “Madden NFL,” “The Sims,” and “Battlefield,” announced Monday that the consortium is led by Saudi Arabia’s Public

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump said in a Truth Social post on Monday he will be imposing a 100% tariff “on any and all movies that are made outside of the United States.” Trump did not specify when or how the tariff could be enacted. If Trump follows through with his

By Jordan Valinsky, CNN New York (CNN) — McDonald’s is rebooting a fan-favorite game after a decade in an effort to spur sales. Once a cultural phenomenon, and even the subject of scandal, Monopoly is back. The promotion is returning to US restaurants on October 6 for a limited time, but not in the way

By Jordan Valinsky, CNN New York (CNN) — Chipotle is releasing a new sauce that appeals to Gen Z eaters to help the company rebound from two consecutive quarters of slumping sales. Beginning September 30, the chain is adding for a limited time Red Chimichurri, a new side that targets younger eaters looking for spicy

By Matt Egan, CNN New York (CNN) — Government shutdowns can be political earthquakes that paralyze Washington, DC. But for the economy, shutdowns are often barely a blip. Whatever economic damage occurs during that time tends to be limited and quickly fixed. Even the last government shutdown – the record-long 35-day shutdown in 2018-2019 –

By Auzinea Bacon, CNN (CNN) — Billionaire investor George Soros, whose left-leaning donations have triggered criticism from right-wingers for years, has long been painted as “the puppet master and the extreme left-wing manipulator,” as he once sarcastically described himself. Most of the conspiracy theories involving Soros, 95, have also targeted his nonprofit, Open Society Foundations,

By John Towfighi, CNN New York (CNN) — Americans have more money in stocks than ever before. But while the market’s climb may be inflating their accounts, they are more exposed than ever to a potential market slump. Direct and indirect stock holdings, including in mutual funds or retirement plans, accounted for an all-time high

By Yahya Salem, Emma Lacey-Bordeaux, CNN (CNN) — Jacob Shaul is the kind of rising high school student who spends Saturdays playing chess and devours books by Malcom Gladwell and Angela Duckworth. He can just as readily explain the principles of quantum computing as he can bang out a drum solo with his band. And,

By John Liu and Haicen Yang, CNN (CNN) — In the spring of 2024, Li Hongxing, who runs a social media ad agency, took on a client he believed to be a rising star in China’s electric vehicle market. A marketing veteran in the auto industry, Li went so far as to borrow to cover

By Brian Stelter, Liam Reilly, CNN (CNN) — The blackout of “Jimmy Kimmel Live!” is over. Sinclair and Nexstar, the two major station groups that preempted the talk show earlier this month, are allowing the show to return to their ABC-affiliated stations on Friday evening. This means that Kimmel will be seen again in major

By Auzinea Bacon, CNN (CNN) — Amazon will soon have to refund some Prime members as part of a $2.5 billion settlement with the Federal Trade Commission – $1.5 billion of which will be returned directly to customers. It’s the FTC’s largest-ever settlement and the second-highest refund award in history. The FTC said in a

By Aaron Cooper, CNN (CNN) — For years, following significant and continuous quality and safety errors, Boeing has been barred from certifying the safety of some of its own aircraft on behalf of the US government. Following 18 months of intense oversight and scrutiny from US regulators, the Federal Aviation Administration is restoring Boeing’s safety