Money

By Kit Maher, Ramishah Maruf and Chris Isidore, CNN New York (CNN) — President Donald Trump announced a partnership between U.S. Steel and Japanese steelmaker Nippon that he says will keep the headquarters in Pittsburgh and draw $14 billion in investment toward the US economy. “This will be a planned partnership between United States Steel

By Liam Reilly, CNN (CNN) — RedBird Capital Partners announced on Friday that it has purchased Telegraph Media Group for £500 million (nearly $675 million), concluding a protracted bid to acquire the news company. The deal makes US-based RedBird the sole controlling owner of The Telegraph, the right-leaning British news outlet founded in 1855. Per

By Olivia Kemp, CNN London (CNN) — Labubu, a palm-sized plush toy with sharp teeth and a cult following, has become a toy too popular to sell. After chaotic scenes of queueing, crowd surges and reported fights, distributor Pop Mart has suspended all in-store sales of the collectible across the United Kingdom. “Due to the

By Amarachi Orie, CNN (CNN) — Denmark is set to have the highest retirement age in Europe, after lawmakers voted to raise it to 70. Parliamentarians passed a bill mandating the rise on Thursday, with 81 votes in favor and 21 against. The new law will apply to people born after December 31, 1970. The

CNN By John Liu and Lisa Eadicicco, CNN (CNN) — US President Donald Trump boasted “jobs and factories will come roaring back” when he unleashed unprecedented tariffs around the world during his “Liberation Day” address last month. But there’s one product the president is particularly eager to produce in the US: iPhones. “I have long

By Olesya Dmitracova, CNN London (CNN) — A record number of Americans applied for British citizenship between January and March, according to the first set of data covering the start of Donald Trump’s second presidential term. Some 1,931 Americans put in an application, the most since records began in 2004 and a jump of 12%

By John Towfighi, CNN New York (CNN) — Markets thought they had a serious debt problem. Now they have a trade war problem to worry about again. Stocks and the dollar fell Friday after President Donald Trump brought the trade war back to the forefront with threats of massive tariffs against one of America’s most

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump on Friday threatened a 50% tariff on goods from the European Union, citing a lack of progress in current trade negotiations. “Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led

By David Goldman and Clare Duffy, CNN (CNN) — President Donald Trump on Friday demanded Apple and other smartphone makers like Samsung make their phones in the United States or face a 25% tariff. “I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United

By Chris Isidore, CNN (CNN) — The Trump administration is giving businesses a free pass from a wide variety of enforcement actions. Boeing, Capital One, Southwest Airlines and Coinbase all faced legal action from the Biden administration, which accused the companies of cheating their customers, the government or otherwise acting improperly. But multiple federal agencies

By Nathaniel Meyersohn, CNN New York (CNN) — America’s highest-profile retail chains are walking a difficult tightrope — trying to blunt the financial hit from tariffs by raising prices for consumers without angering them or President Donald Trump. Walmart, Target and Home Depot are recent examples of how companies are struggling to navigate raising prices

By Clare Duffy, CNN New York (CNN) — Minutes after Louisiana State Police got word on Friday morning that 10 inmates had escaped a New Orleans jail, two of them were spotted on facial recognition cameras in the city’s French Quarter. Police arrested one of the escapees shortly after; the other, days later. The cameras

By John Liu, CNN Hong Kong (CNN) — Chinese consumer electronics giant Xiaomi has launched a new electric SUV and debuted a self-designed smartphone chip, in a push to expand beyond its roots in budget devices. The company’s CEO and founder Lei Jun introduced the YU7, Xiaomi’s first SUV, and the Xring O1, a 3-nanometer

By Liam Reilly, CNN (CNN) — The Federal Trade Commission on Wednesday sent Media Matters for America a letter demanding communications between the progressive media watchdog and advertising entities as the commission probes whether the watchdog colluded with advertisers to pull funding from Elon Musk’s X. Media Matters was notified in a letter dated May

By Samantha Delouya, CNN (CNN) — Mortgage rates are inching back toward 7%, highlighting the ongoing strain on US home buyers. The average rate on a standard, 30-year fixed mortgage was 6.86% in the week ending May 22, the highest level since mid-February, according to data released Thursday from Freddie Mac. Growing concern about the

By Lisa Eadicicco, CNN (CNN) — Artificial intelligence startup Anthropic says its new AI model can work for nearly seven hours in a row, in another sign that AI could soon handle full shifts of work now done by humans. The new model could bring AI one step closer to replacing jobs as tech giants

By Mostafa Salem, CNN (CNN) — OpenAI and Nvidia will join other companies to build Stargate UAE, an artificial intelligence infrastructure cluster, in a sister project to the recently unveiled push to expand AI infrastructure in the United States. Appearing alongside President Donald Trump in January, the CEOs of OpenAI, SoftBank and Oracle said they

By Veronica Miracle and Gregg Canes, CNN (CNN) — When Yaani King Mondschein stepped onto the set of NBC’s “Quantum Leap” in February 2023, she had no idea it would be her last acting gig for several years. Mondschein had been called back to play “Frankie Cahill,” a recurring guest star featured in two episodes

By Chris Isidore and Matt Egan, CNN (CNN) — The US Treasury is phasing out production of the penny and will soon stop putting new one-cent coins into circulation, the department said in a statement Thursday. The news of the decision was first reported by the Wall Street Journal Thursday. A Treasury spokesperson said the