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By Elisabeth Buchwald, CNN (CNN) — President Donald Trump said Tuesday he and President Ferdinand Marcos Jr. of the Philippines have reached a trade agreement. Shortly after, he also revealed more detailed terms of an agreement with Indonesia. Both agreements call for 19% tariffs on goods the US imports from the two countries, paid by

By Matt Egan, CNN New York (CNN) — The Federal Reserve’s independence from political interference, viewed as sacrosanct inside the central bank, is under siege. President Donald Trump’s relentless attacks on Federal Reserve Chair Jerome Powell are so intense that one prominent economist is raising eyebrows by arguing that Powell should quit to protect the

By Chris Isidore, CNN (CNN) — Tariffs on imported cars and auto parts cost General Motors $1.1 billion in the second quarter, the nation’s largest automaker said Tuesday. That hit to its bottom line was largely responsible for a 21% drop in net income for the period. The company said it expects tariffs to cost

By Alicia Wallace, CNN (CNN) — President Donald Trump’s tariffs on Brazil could push up the cost of orange juice at major American supermarkets like Aldi, Walmart and Wegmans by as much as 25%, according to one US-based orange juice importer. Johanna Foods, a US-based importer and seller of orange juice, has sued the Trump

CNN By Liam Reilly, CNN (CNN) — Jon Stewart pulled no punches Monday over CBS’s cancellation of Stephen Colbert’s late-night show. During Monday night’s broadcast of “The Daily Show,” Stewart’s first since Colbert on Thursday shared that “The Late Show” would not return beyond May 2026, the late-night veteran lambasted CBS for canceling the program.

By Jordan Valinsky, CNN New York (CNN) — Target is changing a roughly decade-old policy that let customers save some extra cash. The retailer is altering its “price match” policy, which allowed customers to request and receive a refund for the difference of a product if the shopper found the identical item cheaper at Amazon,

By Brian Stelter, CNN (CNN) — Stephen Colbert gained a little help from his friends and late-night rivals on Monday, his first night back on “The Late Show” since announcing that CBS is ending the legendary show. NBC’s Jimmy Fallon, HBO’s John Oliver, and Comedy Central’s Jon Stewart were among the faces in the “Late

By Jordan Valinsky, CNN New York (CNN) — Coca-Cola confirmed that it will release a new Coke made with cane sugar. The announcement follows a social media post from President Donald Trump last week in which he claimed he persuaded the company to replace high-fructose corn syrup. The company revealed in its earnings report Tuesday

By Chris Isidore, CNN (CNN) — For years, Tesla has earned billions of dollars from its competitors just for selling electric vehicles. But that windfall is about to go away, just when the company may need it the most. Regulatory credit sales have been a huge source of revenue for the automaker, which currently faces

By Samantha Delouya, CNN (CNN) — President Donald Trump’s tariffs could have an unintended side effect: making homeownership even less affordable for many Americans. A new report from the Canadian Chamber of Commerce estimates that the average cost of building a US home could rise by an additional $14,000 by the end of 2027 if

By Bryan Mena, CNN Washington (CNN) — President Donald Trump has blasted Federal Reserve Chair Jerome Powell for months for not lowering interest rates, even threatening to fire the central banker. Now, the White House is seizing on a $2.5 billion renovation of the Fed’s headquarters in Washington, DC, as a potential legal opening to

By Liam Reilly, CNN (CNN) — Patrick Soon-Shiong, the billionaire who purchased the Los Angeles Times for $500 million in 2018, said Monday he is taking the ailing newspaper public. Speaking on “The Daily Show,” Soon-Shiong told host Jon Stewart the newspaper will take the company public over the course of the next year. The

By Liam Reilly, CNN (CNN) — Jon Stewart pulled no punches Monday over CBS’s cancellation of Stephen Colbert’s late-night show. During Monday night’s broadcast of “The Daily Show,” Stewart’s first since Colbert on Thursday shared that “The Late Show” would not return beyond May 2026, the late-night veteran lambasted CBS for canceling the program. “The

By Brian Stelter and Liam Reilly, CNN (CNN) — When the White House took control of the so-called “press pool” that accompanies the president, journalists worried that the Trump administration would use that power to punish news outlets. First it was the Associated Press; now it’s the Wall Street Journal. On Monday, the White House

By Nic F. Anderson, CNN (CNN) — Ford has issued a recall for more than 694,000 Bronco Sport and Escape vehicles due to a fire hazard. The compact SUVs are being recalled because a fuel injector may crack and leak and potentially cause a fire, according to the recall notice. The recall involves Bronco Sports

By Jordan Valinsky, CNN New York (CNN) — As younger drinkers shun traditional soda brands for gut-friendly alternatives, PepsiCo is hoping to lure them back with its iconic cola flavor. On Monday, the company is unveiling a healthier version of its flagship flavor called “Pepsi Prebiotic Cola.” The permanent addition to its lineup builds off

By Matt Egan, CNN New York (CNN) — An Atlanta-based banker working for Wells Fargo has been prevented from leaving China, the latest incident that threatens to amplify concerns among Western executives about the potential consequences of visiting the world’s second-biggest economy. Chinese authorities said Monday the exit ban placed on Wells Fargo executive Chenyue

By Lianne Kolirin, CNN London (CNN) — Extreme weather caused by climate change is driving up the prices of basic food products worldwide and posing wider risks to society, a new study has found. The cost of a wide range of goods – from vegetables in California to coffee in Brazil – saw dramatic spikes

By Lucy Bayly, CNN New York (CNN) — Treasury Secretary Scott Bessent said Monday he believes the Federal Reserve system should be reviewed for potentially holding back the US economy, which is “on the cusp” of growth that could equal the dot-com boom seen in the 1990s. “I think that’s what the paradigm or the