Money

By Alicia Wallace, CNN (CNN) — The Consumer Price Index is more than just the most widely used inflation gauge and a measurement of Americans’ purchasing power. Its robust data plays a key role in the US economy’s trajectory as well as monthly mortgage payments, Social Security checks, financial aid packages, business contracts, pay negotiations

By Chris Isidore, CNN (CNN) — It wasn’t long ago that Tesla CEO Elon Musk was advocating for ending the $7,500 tax credit for buyers of electric vehicles. “Take away the subsidies. It will only help Tesla,” he said in a post on his social media platform X last year, adding “Also remove the subsidies

By Liam Reilly, CNN (CNN) — Anna Gomez, soon to be the lone Democrat on the Federal Communications Commission, has been sounding the alarm about President Donald Trump’s “weaponization” of her agency against the press. And now she’s taking it on the road. Gomez has embarked on a “First Amendment Tour” of planned speeches across

By Liam Reilly, CNN (CNN) — UnitedHealthcare sued The Guardian and its parent on Wednesday for defamation, claiming the US version of the British daily newspaper ran information it knew to be incorrect in order to “capitalize” on the assassination of the medical insurer’s CEO. The article in question was produced and published by The

By Jordan Valinsky, CNN New York (CNN) — Michaels is jumping into the void left by the collapse of Joann, announcing Thursday that it’s buying the fabric retailer’s private label and drastically expanding its sewing selection. In a press release, Michaels said that searches on its website for the word “fabric” have jumped nearly 80%

By Lisa Eadicicco, CNN New York (CNN) — It’s a big day for Nintendo fans. The gaming giant’s new console, the Switch 2, arrives on store shelves globally after being announced in April — marking Nintendo’s first major console launch since the original Switch arrived roughly eight years ago. And fans have clearly been waiting;

By Anna Cooban, CNN London (CNN) — The European Central Bank on Thursday cut its main interest rate again, citing slowing price rises. The widely anticipated move takes the ECB’s main rate to 2%, from 2.25% previously, and marks the eighth time the central bank has slashed borrowing costs since last June as inflation has

By Jordan Valinsky, CNN New York (CNN) — Hooters has abruptly closed dozens of locations just a few months after the chicken wing chain filed for bankruptcy and proclaimed it wasn’t “going anywhere.” “After careful consideration of what is needed to best position our company for the future, Hooters made the difficult decision to close

By Alicia Wallace, CNN (CNN) — Last June, after almost a full year on the job hunt, Jordan Williams landed a role at a high-growth, United Kingdom-based outdoor apparel brand that was looking to build out its US operations. Passenger Clothing was well positioned for expansion: The company landed orders with REI, Scheels and others;

By John Towfighi, CNN New York (CNN) — Stablecoins are on the verge of going mainstream, analysts say, as a landmark regulatory bill makes its way through Congress. The Senate is deliberating the GENIUS Act, which would provide a framework for regulating stablecoins. The bill last week passed a major procedural hurdle in the Senate

By John Liu and Nectar Gan, CNN Hong Kong (CNN) — The European Union has urged China to ease restrictions on rare earth materials – critical for everything from cars to washing machines – after Beijing’s export controls disrupted supplies and triggered production turmoil across industries in Europe and America. Maros Sefcovic, the European Union’s

By Bryan Mena, CNN Washington (CNN) — In the New England region, a clothing store re-tagged items to be sold during the summer to cover the cost of tariffs. A car dealership in upstate New York said its inventory has been depleted by Americans rushing to get ahead of tariffs. And an electronics manufacturer said

WDJT, KFVS, CNN By Chris Isidore, CNN (CNN) — US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the metals, from car makers to can manufacturers. The jump in import taxes is

Story by Reuters (Reuters) — Hackers are tricking employees at companies in Europe and the Americas into installing a modified version of a Salesforce-related app, allowing the hackers to steal reams of data, gain access to other corporate cloud services and extort those companies, Google said on Wednesday. The hackers – tracked by the Google

By Alicia Wallace, CNN (CNN) — High economic uncertainy has hiring grinding to a halt at US businesses. Job growth slowed for the second month in a row at private-sector firms, which added just 37,000 jobs in May, according to new employment estimates released Wednesday by payroll company ADP. May’s job gains, which marked a

By Anna Cooban, CNN London (CNN) — The owner of Pornhub has blocked access to its website in France because of its objections to a new French law requiring pornographic sites to verify the age of their users. Adult entertainment company Aylo has “made the difficult decision to suspend access” in France to its “user-uploaded”

By Vanessa Yurkevich, CNN New York (CNN) — At the start of February, Randy Carr, the CEO of World Emblem, booked a plane ticket to the Caribbean. President Donald Trump had just announced a 25% duty on Mexico and Canada – what would be the first of many tariffs on other countries. World Emblem, the

By Bryan Mena, CNN Washington (CNN) — Americans have stepped up their spending on cars and other big-ticket items in recent months, rushing to get ahead of President Donald Trump’s stiff tariffs. Economists say the rush in spending has put the US economy in a more vulnerable position, especially if the labor market begins to

By Simone McCarthy, CNN Hong Kong (CNN) — US President Donald Trump says Chinese leader Xi Jinping is “extremely hard to make a deal with” in a comment that comes as frictions rise between the two countries, weeks after they reached an agreement to de-escalate trade tensions. “I like President XI of China, always have,