Money

By Jordan Valinsky, CNN New York (CNN) — Rite Aid has sold the pharmacy services of most of its stores across the United States to several rivals. The bankrupt company announced the fire sale Thursday, with CVS Pharmacy, Walgreens, Albertsons and Kroger scooping up Rite Aid’s pharmacy services at more than 1,000 locations. “These agreements

By John Towfighi, CNN New York (CNN) — As the US and China came to an agreement to lower tariffs sharply this week, trade war uncertainty has, for now, subsided. But Wall Street has a new question for President Donald Trump: What about tax cuts? Lawmakers this week are debating Trump’s tax agenda, which includes

By Chris Isidore and Vanessa Yurkevich, CNN (CNN) — Engineers at New Jersey Transit went on strike early Friday, bringing trains on the nation’s third-largest commuter rail service to a halt. A final day of negotiations between the state-run commuter rail service and the Brotherhood of Locomotive Engineers and Trainmen (BLET) failed to reach an

By Simone McCarthy and Hassan Tayir, CNN Hong Kong (CNN) — A surprise breakthrough in US-China trade tensions has unleashed a flurry of activity across Chinese factories and ports as companies in both countries rush to make the most of a 90-day rollback of heavy tariffs announced earlier this week. For Niki Ye, a salesperson

By Liam Reilly, CNN (CNN) — A Democratic commissioner on the Federal Communications Commission tore into the panel’s recent actions under its new chairman, without naming him, saying the agency has been “weaponized to chill speech and to punish the press.” “We are witnessing a dangerous precedent: the transformation of an independent regulator into an

By Matt Egan, CNN New York (CNN) — UnitedHealth Group, one of America’s biggest corporations and a member of the exclusive Dow Jones Industrial Average, is suddenly unraveling. The crisis engulfing UnitedHealth hit a crescendo this week when CEO Andrew Witty stepped down abruptly for “personal reasons.” UnitedHealth also swiftly abandoned its financial guidance, blaming

By Elisabeth Buchwald, CNN (CNN) — While many economists are saying the risk of an imminent recession has diminished since China and the United States agreed to lower tariffs earlier this week, JPMorgan Chase’s CEO, Jamie Dimon, is still penciling one in. “I wouldn’t take it off the table at this point,” Dimon said in

By Chris Isidore, CNN (CNN) — Engineers at New Jersey Transit are poised to go on strike one minute after midnight Friday morning, a stoppage that would create huge problems for 100,000 daily train commuters, businesses across the New York metropolitan area as well as fans of Shakira and Beyoncé, who will have trouble getting

By Alicia Wallace, CNN (CNN) — US wholesale prices sank in April, logging their biggest monthly drop since Covid stifled the economy, as tariffs put a squeeze on profit margins, according to new data released Thursday. The Producer Price Index, a closely watched measurement of wholesale inflation, showed Thursday that the prices paid to US

By Bryan Mena and Elisabeth Buchwald, CNN (CNN) — In a sign that consumer demand may be fraying around the edges, spending at US retailers slowed sharply in April to 0.1% after a surge of 1.7% in March as shoppers rushed to beat President Donald Trump’s stiff tariffs. The April data was worse than the

By Jordan Valinsky, CNN New York (CNN) — President Donald Trump isn’t pleased with Apple CEO Tim Cook’s plan to manufacture iPhones bound for the United States at newly built plants in India. “I had a little problem with Tim Cook yesterday,” Trump said Thursday in Qatar. “I said to him, ‘Tim, you’re my friend.

By Anna Cooban, Betsy Klein, Elisabeth Buchwald and Rhea Mogul, CNN London (CNN) — President Donald Trump said on Thursday that India has offered to eliminate tariffs on the United States as part of a potential trade deal – but New Delhi soon poured cold water on Trump’s claims, saying negotiations were not complete. “India

By Jordan Valinsky and Samantha Delouya, CNN New York (CNN) — Dick’s Sporting Goods is buying rival Foot Locker in a $2.4 billion deal, marking another major deal that tariff-prone apparel companies are making to future-proof themselves. In an announcement Thursday, Dick’s said the transaction will help the Pittsburgh-based sporting goods store internationally for the

By Matt Egan, CNN New York (CNN) — In early April, Wall Street threw a temper tantrum that would make a toddler proud. Fearing President Donald Trump’s chaotic trade war would ignite a global recession, investors scrambled to dump US assets. The rare simultaneous selloff of both stocks and bonds reflected a serious loss of

By Juliana Liu and Alejandra Jaramillo, CNN (CNN) — Boeing has secured a deal with Qatar for up to 210 jets in what the White House is calling the aircraft maker’s “largest-ever” widebody order, worth $96 billion dollars. The order comes as the Gulf state’s prime minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, dismissed

By Alicia Wallace, CNN (CNN) — American consumers, battle-scarred by the pandemic and the subsequent surge in inflation, are already changing their spending patterns and delaying some purchases due to President Donald Trump’s chaotic tariff policy and the broader economic uncertainty, new survey data shows. The shift in spending plans was among the findings from

By Hadas Gold, CNN (CNN) — Some X users on Wednesday asked Grok – the AI chatbot available through Elon Musk’s social media platform – questions about simple topics like baseball players or videos of fish being flushed down toilets. One user just asked Grok to talk like a pirate. In response, they got replies

By Ramishah Maruf, CNN New York (CNN) — At 94 years old, Warren Buffett stunned the investor world when he announced he was stepping down as CEO of Berkshire Hathaway. But he had a simple answer for why he decided to hand over the position to Greg Abel at the end of the year. “There

By Marshall Cohen, CNN Washington (CNN) — A voting technology firm suing Fox News for defamation over its 2020 election coverage claimed senior corporate executives, including Rupert Murdoch, intentionally destroyed damning evidence in the case, according to court filings. Smartmatic levied the stunning new allegations on Wednesday, alleging in court filings that Fox “orchestrated the