Money

By Krystal Hur, CNN New York (CNN) — US stocks ended the day sharply lower Friday as Wall Street worried about escalating tension in the Middle East and traders rushed to safe havens like bonds and gold. The Dow fell 475 points, or 1.2%, after dropping more than 500 points at the day’s lows. The S&P 500

By Bryan Mena, CNN Washington (CNN) — Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. That’s striking because disappointing inflation reports have thrown Wall Street into a tailspin. The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according

By Chris Isidore, CNN New York (CNN) — US Steel shareholders Friday overwhelmingly approved a deal for the iconic American manufacturer to be purchased by Japan’s Nippon Steel. But the outlook for the controversial merger has never looked so bad. The deal is significant, not just for the future of what is still a key

By Catherine Thorbecke, CNN (CNN) — Airbnb wants more renters, and not just homeowners, to be able to become hosts on its short-term rental platform. The company on Friday announced that it is doubling down on efforts to work with state and local governments to advocate for short-term rental rules that don’t exclude renters from

Analysis by Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. O.J. Simpson gripped the nation’s attention for a final time Thursday. As breaking news banners and push alerts crashed onto screens from coast

By Nicole Goodkind, CNN New York (CNN) — JPMorgan Chase, the largest bank in the United States, kicked off earnings season Friday with a beat, but also a warning about geopolitical threats that could hurt the global economy. The bank’s first-quarter revenue increased by 9% from the year before, to $41.9 billion. That’s more than

By Jeanne Sahadi, CNN New York (CNN) — If you haven’t filed your 2023 tax return with the IRS yet and you still owe income tax for last year, the good news is you still have time to rectify those situations before you’re penalized for failing to do so. Most filers have until 11:59 pm

By Matt Egan, CNN New York (CNN) — Burnout is such a problem for workers that some bosses are considering shrinking the length of the workweek. Nearly one-third (30%) of large US companies are exploring new work schedule shifts such as four-day or four-and-a-half-day workweeks, according to a KPMG survey of CEOs released this week.

By Diksha Madhok, CNN (CNN) — The US aviation industry has asked the Biden administration to pause approval of additional flights to and from China, saying Beijing’s “existing harmful anti-competitive policies” hurt American airlines and workers. “The competitive disadvantage is harmful to the approximately 315,000 workers employed by US passenger airlines that serve China,” according

By John Towfighi, CNN (CNN) — A children’s mini speaker is being recalled for potential burn and fire hazards. The Consumer Product Safety Commission announced April 11 that the Yoto Mini speaker for children is being voluntarily recalled because of a lithium-ion battery that can overheat and catch fire, posing burn and fire risks. Parents

By Chris Isidore, CNN New York (CNN) — Embattled airplane maker Boeing disclosed it lavished an additional $546,000 on the cost of personal air travel in recent years for four top executives, including CEO Dave Calhoun, who announced last month that he will leave the company by the end of the year. The increased spending

By Elisabeth Buchwald and Bryan Mena, CNN (CNN) — Interest rate cuts have been the main focus for Wall Street ever since the end of last year, when Federal Reserve officials indicated they intended to lower rates. But stubborn inflation now has some investors wondering about the exact opposite: a rate hike. Inflation slowed substantially

By Samantha Murphy Kelly, CNN (CNN) — Taylor Swift’s music is back on TikTok following an ongoing dispute with her music distributor Universal Music Group over royalties. The return of her songs on the popular social platform comes as she is set to release her latest and much-anticipated album, “The Tortured Poets Department,” next week.

By Bryan Mena, CNN Washington (CNN) — Mortgage rates drifted higher this week, and could increase further, in a sign that America’s affordability crisis isn’t letting up. The 30-year fixed-rate mortgage averaged 6.88% in the week ending April 11, up from 6.82% the previous week, according to Freddie Mac data released Thursday. A year ago,

By Parija Kavilanz, CNN New York (CNN) — California just raised the minimum wage for the state’s fast food sector workers by $4 to $20. As if on cue, it raised a familiar refrain that those workers would be replaced by technology, such as self-service kiosks. That’s likely to happen in some instances where business

By Jordan Valinsky, CNN New York (CNN) — Lyft and Uber have reversed plans to leave Minneapolis on May 1 after a new minimum wage for rideshare drivers, originally set to go into effect that day, was delayed two months after the city council passed a measure Thursday to extend the deadline. The issue stems

By Alicia Wallace, CNN (CNN) — A key US inflation gauge increased last month at its fastest pace since April 2023, showing that underlying price pressures remain persistent. The Producer Price Index, a closely watched measure of inflation at the wholesale level, rose 2.1% for the 12 months ended in March, up from a 1.6%

By Chris Isidore, CNN New York (CNN) — It’s been a brutal six years for Boeing, with two fatal jet crashes kicking off a series of safety crises — and raising concerns about the quality and safety of the planes rolling off its assembly lines. As Boeing scrambles to repair its reputation, some critics and

By Nathaniel Meyersohn, CNN New York (CNN) — These are tough times for two big US dollar store chains. In the past month, Family Dollar said it will close nearly 1,000 stores and 99 Cents Only said it will go out of business. Both companies said inflation and shoplifting have contributed to their troubles. While

By Matt Egan, CNN New York (CNN) — Tariff Man could be back in the White House next year – and he’s promising the sequel will be even bigger than the original. Former President Donald Trump, who labeled himself “Tariff Man” in 2018, has made clear he wants to pursue a more aggressive trade strategy