Money

By Nicole Goodkind, CNN London (CNN) — At the beginning of the year, Federal Reserve officials projected they would cut interest rates three times this year. By June, they had lowered that projection to just one cut. Now some key policymakers say it won’t happen at all. On Tuesday morning, Fed governor Michelle Bowman said

By Elisabeth Buchwald and Parija Kavilanz, CNN New York (CNN) — A federal judge overseeing a $30 billion preliminary swipe-fees settlement between Mastercard, Visa and retailers formally rejected the deal Tuesday. The ruling likely means the credit card processors will have to make more concessions to resolve their long-standing dispute with merchants. Mastercard and Visa,

By Alicia Wallace, CNN (CNN) — US consumer confidence teetered slightly in June as Americans grew a little warier about the future, new data released Tuesday showed. The Conference Board’s latest consumer confidence index dipped to 100.4 in June from a downwardly revised level of 101.3 in May. June’s reading landed in line with what

By Chris Isidore, CNN New York (CNN) — Airbus cut its target for how many planes it expects to make this year and next, citing supply chain issues. It’s the latest bad news for airlines and passengers as jet supply continues to get squeezed. The tighter-than-expected supply of jets is forcing airlines to adjust their

By Anna Cooban and Samantha Delouya, CNN London (CNN) — Nvidia stock staged a comeback on Tuesday after a multi-day sell-off that cost the US chipmaker its crown as the world’s most valuable public company. On Tuesday, Nvidia closed nearly 7% higher, reversing course after three straight days of declines, which caused some investors to

By Eva Rothenberg, CNN New York (CNN) — A CDK Global system outage has affected nearly every aspect of the Mazda dealership in Seekonk, Massachusetts, where Ryan Callahan is general sales manager. He says it won’t be a simple fix. “The financial impact it will directly have on us will take months to correct, if

By Hanna Ziady and Brian Fung, CNN London (CNN) — Microsoft has violated European Union antitrust laws by bundling Teams with its other popular applications for businesses, EU officials said Tuesday, marking the bloc’s latest challenge to a US tech giant. If confirmed, the preliminary findings of an EU investigation could lead to a fine

By Jordan Valinsky, CNN New York (CNN) — At 66 years old, Perkins Restaurant and Bakery is due for a touch up. The diner chain, best known for its pies and pancakes, is getting a major makeover that includes a new logo and name, a redesign of its nearly 300 restaurants as well as a

By Matt Egan, CNN New York (CNN) — Reid Hoffman knows firsthand that riches can be made building a social media empire. But the LinkedIn co-founder is dumbfounded by the size of the social media fortune former President Donald Trump is sitting on. Trump’s conservative social media company, Truth Social owner Trump Media & Technology

By Clare Duffy, CNN New York (CNN) — Snapchat is working to make it harder for teenagers to be contacted on the app by people they don’t know, its latest effort to stop the sexual and financial exploitation scam known as sextortion. The company on Tuesday announced a set of new safety features, including expanded

By Juliana Liu and Joyce Jiang, CNN Hong Kong (CNN) — Chinese Premier Li Qiang has warned against a “vicious cycle” of economic decoupling from the West, as Beijing struggles to contain rising global pushback over soaring electric vehicle (EV) exports. Speaking to international executives at the “Summer Davos” forum in the northeastern city of

By Chris Lau and Rinka Tonsho, CNN Tokyo (CNN) — Pufferfish is regarded as a luxury in Japan and a meal featuring the potentially poisonous delicacy can easily cost up to 20,000 yen ($125) at high-end restaurants. But now, adventurous foodies in Japan can get a taste of “fugu” for a fraction of the price,

CNN By Chris Isidore and Evan Perez, CNN New York (CNN) — Prosecutors are urging the US Justice Department to file criminal charges against Boeing for safety issues surrounding its 737 Max, although top Justice Department officials haven’t made a final decision, a source familiar with the development tells CNN. The possible criminal charges are

By Chris Isidore and Evan Perez, CNN New York (CNN) — Prosecutors are urging the US Justice Department to file criminal charges against Boeing for safety issues surrounding its 737 Max, although top Justice Department officials haven’t made a final decision, a source familiar with the development tells CNN. The possible criminal charges are just

By Hadas Gold, CNN (CNN) — Conspiracy theorist Alex Jones’ Infowars media empire will be shut down and sold off, a bankruptcy court-appointed trustee said in an emergency court filing Sunday, signalling the end of the notorious far-right outlet that Jones has used to spread dangerous misinformation and lies. Earlier this month, a bankruptcy judge ruled that Jones’ personal assets would be

CNN, U.S. TREASURY DEPARTMENT U.S. TREASURY DEPARTMENT By Danielle Wiener-Bronner, CNN New York (CNN) — “God I love Texas Roadhouse,” began one thread on Reddit, with over 1,000 upvotes. “Texas Roadhouse never disappoints,” began another, with over 5,000 votes. A third touted the “incredible value.” If there’s anything Americans love, it’s cheap meat. So business

By Samantha Murphy Kelly, CNN (CNN) — A group of major record labels is suing two AI startups, alleging they wrongfully used popular artists’ work to train their systems to produce copyrighted music without their consent. The Recording Industry Association of America – the trade group on behalf of labels including Sony Music Entertainment, UMG

By Eva Rothenberg, CNN (CNN) — CDK Global, a retail software provider, has been grappling with a system outage that has paralyzed car dealerships across North America. The system outage has affected thousands of car dealerships, burdening both dealerships and customers. Are you someone who has been affected in some way by the outage? Maybe a customer who

By Jordan Valinsky, CNN New York (CNN) — Hooters is the latest chain to close dozens of locations across the United States, blaming tough economic challenges including rising food and labor costs. “Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores,”