Money

By Matt Egan, CNN New York (CNN) — The US economy needs the fragile ceasefire President Donald Trump brokered in the Middle East to hold. If the pause in fighting between Israel and Iran fails and major hostilities resume, oil prices would likely spike again. And surging gasoline prices are the last thing the US

By Elisabeth Buchwald, CNN (CNN) — Consumer confidence dropped last month to a reading of 93, a 5.4 point decline from May, according to data the Conference Board released on Tuesday. The decline was seen across all political affiliations but was strongest among Republican respondents. Consumers had been feeling better after an agreement was secured

By Chris Isidore and Alexandra Skores, CNN Washington, D.C. (CNN) — The blame for a horrifying mid-flight blowout of a door plug on an Alaska Airlines flight last year is shared by plane manufacturer Boeing, its supplier Spirit Aerosystems and the Federal Aviation Administration, the chairwoman of the National Transportation Safety Board said at a

By Sean Lyngaas, CNN (CNN) — Hospitals, water dams and power plants across the US are on alert for any potential Iranian cyberattacks in retaliation for US airstrikes on Iran nuclear sites over the weekend. The United States dropped massive bombs on three nuclear sites inside Iran on Saturday, decisively entering into conflict with the

By Jordan Valinsky, CNN New York (CNN) — King’s Hawaiian, maker of sweet buns and rolls that come in distinct bright-orange packaging, is retooling its branding as part of its 75th anniversary. The company unveiled Tuesday a modernized logo and updated packaging for its products, which have grown in recent years to include snacks like

By Anna Cooban, John Liu and John Towfighi, CNN London/Hong Kong/New York (CNN) — Oil prices fell sharply Tuesday, returning to levels last seen before the Iran-Israel conflict, as investors cheered news of a ceasefire, albeit fragile, between the two countries. Brent crude, the global oil benchmark, fell 6.1% to $67.14 a barrel. West Texas

By Bryan Mena, CNN Washington (CNN) — It’s still too soon for the Federal Reserve to consider lowering interest rates, Chair Jerome Powell said Tuesday. “Policy changes continue to evolve, and their effects on the economy remain uncertain,” Powell said in his prepared testimony for his semiannual monetary policy report to Congress. “For the time

By Jordan Valinsky, CNN New York (CNN) — McDonald’s is the latest target of a grassroots “economic blackout” campaign that has previously targeted other major companies with mixed success. The People’s Union USA, led by John Schwarz, is now calling on people to boycott McDonald’s beginning Tuesday through next Monday, explaining in an Instagram post

By Lisa Eadicicco, CNN New York (CNN) — A nearly three-year-old AI startup has caught Meta’s attention, and reportedly Apple’s too. Meta spoke with AI search engine Perplexity about a potential acquisition, although a deal was not reached, according to sources familiar with the discussions. The talks were held in late April or early May,

By Samantha Delouya, CNN (CNN) — Compass has officially brought a long-simmering real estate dispute into the courtroom. On Monday, the real estate brokerage sued home-search website Zillow, accusing it of engaging in an anticompetitive conspiracy to maintain its dominance over digital home listings. Compass’ lawsuit marks a new phase in the battle between real

By Alicia Wallace, CNN (CNN) — How well — or how poorly — Americans are managing their Buy Now, Pay Later loans soon could be reflected in their credit scores. FICO plans to launch a suite of credit scores later this year that incorporate BNPL data, providing lenders a window into what’s been a big

By Chris Isidore, CNN (CNN) — Tesla’s much-publicized robotaxi service began this weekend — but only in one neighborhood in Austin, Texas, only for a select group of the company’s fans and only with a Tesla employee in the front passenger seat. It was a far more modest rollout for robotaxis than Tesla CEO Elon

By Bryan Mena, CNN Washington (CNN) — Some Federal Reserve officials are joining President Donald Trump in calling for lower interest rates as soon as July. Fed Vice Chair for Supervision Michelle Bowman on Monday downplayed the potential impacts of Trump’s tariffs on prices and said the US central bank should swiftly lower rates to

By Clare Duffy, CNN New York (CNN) — Some of Silicon Valley’s top leaders have warned in recent weeks that artificial intelligence is coming for people’s jobs — and fast. Anthropic CEO Dario Amodei warned last month that AI could cause as much as 20% unemployment in the next one to five years. And last

By Chris Isidore and Alexandra Skores, CNN (CNN) — On January 4, 2024, a door plug blew out on a Boeing 737 Max at more than 16,000 feet in the air, leaving a gaping hole in the side. On Tuesday, the National Transportation Safety Board will hear the investigation’s findings and vote on the probable

By Jordan Valinsky, CNN New York (CNN) — Kroger is set to close about 5% of its grocery stores — amounting to approximately 60 locations — over the next year and a half. The closures come a few months after plans collapsed for a merger with rival Albertsons that would have created a massive chain.

By Matt Egan and David Goldman, CNN (CNN) — Oil sold off sharply and stocks rallied after Iran fired missiles toward US bases in Qatar and Iraq that appeared to be intercepted. Traders are betting that Iran doesn’t have the willingness or capability to retaliate against US forces. And they’re hoping that this will be

CNN By John Liu and Chris Isidore, CNN Hong Kong (CNN) — While there have been no major disruptions to the global oil supply so far, the attacks on Iran — by Israel and then the US — have rattled investors, sending oil futures soaring by around 10% since the start of hostilities, among fears

By John Liu and Chris Isidore, CNN Hong Kong (CNN) — While there have been no major disruptions to the global oil supply so far, the attacks on Iran — by Israel and then the US — have rattled investors, sending oil futures soaring by around 10% since the start of hostilities, among fears Iran

By Jeanne Sahadi, CNN (CNN) — Almost half of Americans (45%) think they would need to make $100,000 or more a year to “feel financially secure” or “comfortable,” according to a new survey from Bankrate. Breaking that down further, a quarter of respondents in total (26%) put the number at $150,000 or more. Among them,