Money

By Chris Isidore, CNN New York (CNN) — President-elect Donald Trump is vowing to protect American-made cars through steep tariffs on imports. The problem is, there is no such thing as an all-American car. Trump has promised that tariffs, which are a tax on goods that are imported from another country, will be a key

By Rosa de Acosta, CNN Hong Kong (CNN) — President-elect Donald Trump took to social media on Monday to promise massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his second term. He had already vowed on the campaign trail to impose new tariffs on all

CNN By Elisabeth Buchwald, CNN New York (CNN) — While there’s a lot we don’t know about President-elect Donald Trump’s tariff plans, at least one thing is pretty certain: Tariffs will go up. If history is any indication, that means price increases will likely follow. Already, Trump announced he will slap a new 25% across-the-board

CNN By Nathaniel Meyersohn, CNN New York (CNN) — Walmart, the largest private employer in the United States, will curb some diversity, equity and inclusion (DEI) efforts. It’s the latest company to backtrack on diversity initiatives in the face of right-wing pressure, and its decisions will reverberate across corporate America. The company said Monday it

By Ramishah Maruf, CNN New York (CNN) — Yet another fast food CEO is stepping down. Subway announced Tuesday that its CEO, John Chidsey, will retire at the end of 2024. Executive Carrie Walsh will replace him as interim CEO. Chidsey, the first chief executive outside of the chain’s founding family, joined Subway as CEO

By Liam Reilly, CNN New York (CNN) — A majority of social media influencers don’t verify information before sharing it with their audiences, a study published Tuesday by the UN’s scientific and cultural arm found, underscoring concerns that some of the biggest online figures can uncritically spread misleading claims. According to the UNESCO study, 62%

By Elisabeth Buchwald, CNN New York (CNN) — During President-elect Donald Trump’s first term, America launched an all-out trade war with China to boost US manufacturing, secure US national security interests and resolve what Trump believed was an extremely out-of-balance trade relationship. President Joe Biden kept most of those tariffs in place and added a

By Chris Isidore, CNN New York (CNN) — If you’re flying this holiday season and you’re noticing the plane feels more packed, while your wallet feels thinner, there’s a reason for that. A record 31 million passengers are expected to fly US airlines over the course of this week, according to Airlines for America, the

By Samantha Delouya, CNN (CNN) — If the Senate confirms Scott Turner as secretary for the Department of Housing and Urban Development, he will take over responsibility for America’s largest housing agency at a time when the nation’s home affordability needs are in hyper-focus. Donald Trump ran on the promise of steep government budget cuts,

By Jordan Valinsky, CNN New York (CNN) — Disney has agreed to pay $43 million to settle a lawsuit that it paid female employees less than their male counterparts in similar roles for nearly a decade. The settlement agreement, reached Monday, stems from a 2019 lawsuit filed by LaRonda Rasmussen. She claims she learned that

By Matt Egan, CNN New York (CNN) — In 2018, Bobby Djavaheri feared his family’s appliance business faced an existential threat from the Trump administration’s tariffs on Chinese air fryers. Djavaheri, president of Yedi Houseware Appliances, consulted with a customs attorney and applied for a tariff exclusion with the United States Trade Representative to avoid

By Pete Muntean, CNN (CNN) — Airlines have pocketed billions of dollars in so-called “junk fees” by charging customers extra to select a seat or to carry on bags, according to a Senate subcommittee report published on Tuesday. The report said some airlines have even paid workers cash incentives to identify customers trying to avoid

By Juliana Liu and Hassan Tayir, CNN Hong Kong (CNN) — Huawei has unveiled a new flagship phone boasting entirely homegrown software that aims to give users an alternative to Google’s Android or Apple’s iOS, in another effort by the Chinese tech giant to defend against possible further sanctions by Washington. The new Mate 70

By Nathaniel Meyersohn, CNN New York (CNN) — Walmart, the largest private employer in the United States, will curb some diversity, equity and inclusion (DEI) efforts. It’s the latest company to backtrack on diversity initiatives in the face of right-wing pressure, and its decisions will reverberate across corporate America. The company said Monday it is

By Sean Lyngaas, CNN (CNN) — A ransomware attack has disrupted a third-party software system that Starbucks uses to track and manage its baristas’ schedules, forcing the coffee chain to shift to manual mode to ensure its employees get paid properly, a Starbucks spokesperson said Monday. Starbucks’ store leadership have advised their employees on how

By Bryan Mena, CNN Washington (CNN) — Warren Buffett shared on Monday his most detailed plan yet for his fortunes after death, while announcing he will continue to give away his staggering wealth. In a letter to shareholders, the iconic investor and Berkshire Hathaway CEO, who is 94, reflected on the nature of mortality, referencing

By Ramishah Maruf, CNN New York (CNN) — Kohl’s announced its CEO Tom Kingsbury will step down on January 15, 2025, and will be replaced by the CEO of arts and crafts retailer Michaels. Ashley Buchanan, the next Kohl’s CEO, has been CEO of Michaels since 2020 and was a senior executive at Walmart and

CNN By Jordan Valinsky, CNN New York (CNN) — Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday. The company recently discovered that the unnamed employee intentionally hid as much as

By Ramishah Maruf, CNN New York (CNN) — Microsoft said most Outlook and Teams services had been restored as of Monday evening, after more than 24 hours of technical delays. On Tuesday afternoon, the company announced a full restoration of services. At the outage’s peak, tracking site Downdetector showed more than 5,000 user-reported problems, though

By Hanna Ziady, CNN London (CNN) — Thyssenkrupp Steel has announced plans to eliminate 11,000 jobs by the end of this decade — about 40% of its workforce — becoming the latest German industrial giant to opt for drastic action to prop up its fortunes. The company said Monday that it is aiming to cut