Money

By Vanessa Yurkevich, CNN New York (CNN) — US ports are facing a dramatic slowdown in cargo – but they could see the exact opposite in a matter of weeks. Starting Wednesday, cargo leaving China bound for the United States will carry a 30% tariff rate – a reduction from the higher 145% tariff that

By Clare Duffy, CNN New York (CNN) — The newest iPhones might come with a more expensive price tag this fall — even if the sticker price doesn’t change. Some analysts expect Apple to raise iPhone prices for its new lineup because of President Donald Trump’s tariffs. And the company is considering as much, according

By Anna Cooban, CNN London (CNN) — The latest installment of the Donald Trump Cinematic Universe has an audacious plot line: The protagonist wants to put a 100% tariff on all movies made abroad to restore a troubled American film industry to its former glory. But the critics aren’t impressed. “The idea is dumb,” Howard

By Anna Cooban, CNN London (CNN) — Burberry is aiming to slash 18% of its global workforce by 2027 as it looks for ways to cut costs and revive its ailing business. The British luxury fashion house said Wednesday that around 1,700 jobs were at risk as it reported a loss of £3 million ($4

By Matt Egan, CNN New York (CNN) — The lowest inflation rate in four-years was made possible by a trend that will surely bring smiles to the faces of Americans: Falling prices. Egg prices plunged between March and April by the most since 1984, according to the Bureau of Labor Statistics. Used cars and trucks

By Juliana Liu, CNN (CNN) — US President Donald Trump didn’t show up empty-handed on the first international trip of his second term. Joining him in Saudi Arabia were almost three dozen CEOs of America’s biggest companies, including Big Tech giants that signed $600 billion worth of deals. They brought some of the most coveted

By Ramishah Maruf, CNN New York (CNN) — Shoppers got a little relief this week from a giant tariff on previously cheap, duty-free goods from China. But the tariffs that do remain are still poised to derail the shopping habits of millions of Americans who shop at ultra-low-priced e-commerce sites like Shein and Temu. The

By John Towfighi, CNN (CNN) — The S&P 500 benchmark stock index hit another milestone in its remarkable march higher from the brink of a bear market in recent weeks: It has now erased all its losses for this year. US stocks were mixed Tuesday as investors digested cooling inflation data and easing trade tensions

By Clare Duffy, CNN New York (CNN) — Nearly a decade ago, Airbnb envisioned being more than just an app to book a home for a vacation. Its latest redesign could be a major push toward becoming the kind of “end-to-end travel app,” that CEO Brian Chesky has said he wants to create. The online

By Lisa Eadicicco, CNN (CNN) — The next time you’re about to tap a text message to resolve an unpaid toll balance, your Android phone may warn you to think twice. Google is updating its scam text detection technology to spot hoaxes like these, which are among the most common types of text-related schemes according

By Reuters (Reuters) — Microsoft is laying off 3% of its workforce, or roughly 7,000 employees, CNBC reported on Tuesday, as the technology giant looks to rein in costs while funneling billions of dollars into its ambitious bet on artificial intelligence. The cuts will be across all levels and geographies, and are likely the largest

By David Goldman, CNN (CNN) — For months, President Donald Trump has falsely claimed that egg prices are tumbling. It wasn’t true then, but it’s true now. Egg prices fell 12.7% last month, the biggest monthly decline since 1984, the Bureau of Labor Statistics reported Tuesday. And they could continue to fall this month, too:

By Liam Reilly, CNN (CNN) — After much teasing and speculation, ESPN has finally unveiled the details of its new flagship streaming service. While the streamer long had the working title “Flagship,” the Disney-owned sports network revealed the platform, slated to launch in the fall, will be called something even simpler: ESPN. “As we explored

By Alicia Wallace, CNN (CNN) — Americans tidied up their household balance sheets to start 2025, cleaning up some credit card and auto loan debt, new data showed Tuesday. However, the debt outlook for millions of student loan borrowers was much grimmer: Past-due student loans hit credit reports for the first time in five years,

By Jordan Valinsky, CNN New York (CNN) — TGI Fridays, toiling in bankruptcy and dealing with a steady pace of closures, perhaps has a simple solution for all of its ills: Better food. On Tuesday, TGI Fridays is rolling out a revamped menu at its US restaurants which includes more mozzarella sticks options, upgraded steaks

By Jordan Valinsky, CNN New York (CNN) — UnitedHealth Group CEO Andrew Witty is stepping down immediately from his role for “personal reasons,” the company announced Tuesday. He will be replaced by Stephen Hemsley, the health insurer’s board chairman and former CEO from 2006 to 2017. Witty, who ran the health care giant for four

By Nathaniel Meyersohn, CNN New York (CNN) — President Donald Trump’s unpredictable trade policies and public threats against companies have made it nearly impossible to set prices. The Trump administration temporarily reduced tariffs on China over the weekend, but import taxes have already made baby gear, power drills, mattresses and other everyday products more expensive

By Nectar Gan, CNN Hong Kong (CNN) — Chinese leader Xi Jinping says “bullying” and “hegemonism” will only backfire, in a veiled reference to the United States just a day after a temporary truce was agreed in the trade war between the world’s two largest economies. Xi chose to deliver this message, which paints China

By Brian Stelter, CNN (CNN) — “Indefensible.” “It’s a bribe.” “Such a stain” on the administration. Some of President Donald Trump’s staunchest supporters are among the loudest critics of his plan to accept a jet from Qatar for use as Air Force One. In a rare break from the cheerleading that typifies MAGA media outlets,