Money

By Matt Egan, CNN New York (CNN) — Texas manufacturers continue to express frustration over the Trump administration’s volatile tariff playbook and the impact of high borrowing costs. “Tariff Bingo is tough,” one furniture manufacturer told the Federal Reserve Bank of Dallas in a survey released Monday. “We are probably going out of business within

By Samantha Delouya, Bryan Mena, CNN (CNN) — President Donald Trump said late on Monday that he has fired Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud that haven’t been taken to court. There’s still a lot we don’t know about the situation. The firing, in a letter that was also posted to

By Chris Isidore, Auzinea Bacon, CNN (CNN) — Move over, CEOs. Someone else might be angling to weigh in on your company: the president of the United States. President Donald Trump has brought a transactional mindset to the White House, one in which the US government isn’t just a regulator but a participant. The administration

By Auzinea Bacon, CNN (CNN) — In just two days, Netflix’s “KPop Demon Hunters” sing-along surged to the No. 1 spot at the domestic box office, reportedly selling out more than 1,000 screens as fans seized the one-weekend opportunity. The streaming giant’s limited-release event was an unexpected win for the animated movie, which was released

Story by Reuters (Reuters) — Billionaire entrepreneur Elon Musk’s artificial intelligence startup xAI sued Apple (AAPL) and ChatGPT maker OpenAI in U.S. federal court in Texas on Monday, accusing them of illegally conspiring to thwart competition for artificial intelligence. Apple and OpenAI have “locked up markets to maintain their monopolies and prevent innovators like X

By Liam Reilly, Alejandra Jaramillo, Isabelle D’Antonio, CNN (CNN) — President Donald Trump on Sunday threatened to investigate Chris Christie over a decade-old political scandal and revoke ABC News’ broadcasting license after the Disney-owned network aired an interview in which the former governor sharply criticized the president. “Donald Trump sees himself as the person who

By Lianne Kolirin, CNN London (CNN) — Keurig Dr Pepper will acquire JDE Peet’s – whose brands include Douwe Egberts, Kenco and Peet’s Coffee – for more than $18 billion and split into two listed businesses. The company behind Dr Pepper and 7Up drinks and Keurig coffee products is set to separate into a soft

By Jeanne Sahadi, and Luciana Lopez, CNN (CNN) — Federal Reserve Chair Jerome Powell hinted interest rate cuts could be coming soon in a speech on Friday, a move that could affect everyone from global markets to individual Americans. Powell underscored that any upcoming rate cut would be dependent on the economic data. But Fed

By John Towfighi, CNN (CNN) — Tech companies are giving the world artificial intelligence — but ironically, the tech sector itself is among those now feeling the most pain from AI. The rise of AI tools that can write and develop code is clouding the outlook for the software industry, investors say, sending shares in

By Michelle Watson, CNN (CNN) — The Powerball jackpot has soared to $815 million after there were no big winners in Monday’s drawing, marking the 7th largest prize in the game’s history. Monday’s winning numbers – 16, 19, 34, 37, 64 with a red Powerball of 22 and a Power Play multiplier of 3 –

By Ramishah Maruf, CNN New York (CNN) — Like many Labubu fans, 28-year-old Joselyn Chamorro is over the craze. Waiting in overnight lines to buy the $30 mischievous dolls, or shelling out $100 to resellers, has lost its appeal. So when she saw a gas station in Lakeland, Florida, was selling fake Labubus — known

By Auzinea Bacon, CNN (CNN) — International postal services are suspending shipments to the United States after an exemption on tariff duties for small packages is set to expire. It’s the latest example of how President Donald Trump’s sweeping trade policy is impacting US consumers and businesses. Beginning Friday, the “de minimis” exemption, which allowed

By Alicia Wallace, CNN (CNN) — When tariffs are tacked on to many imported goods, someone’s got to foot the bill. According to President Donald Trump, foreign countries and overseas businesses are eating the cost. But evidence shows that American consumers and businesses are paying for the tariffs the administration has implemented as its go-to

By Auzinea Bacon, CNN (CNN) — Drive-ins helped movie theaters stay afloat during the pandemic, when their fate was in serious doubt. Now, years later, drive-in theaters are still providing a small but meaningful boost for the industry. Drive-ins accounted for a significant portion of box office revenue in 2020, due to social distancing policies

By Gordon Ebanks, CNN (CNN) — With back-to-school season in full swing, families across the country are continuing to feel the sting of high prices. In May and June, before the latest round of the Trump administration’s tariffs, the U.S. Chamber of Commerce estimated that tariffs on back-to-school items had risen to 18% (up from

By Michelle Watson, Karina Tsui, CNN (CNN) — With an estimated $750 million jackpot, Monday’s Powerball draw will be the 10th largest in the game’s history after no player matched all six number in Saturday’s draw, the Multi-State Lottery Association said in a press release. Saturday night’s jackpot was already one of the largest prizes

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump on Friday announced he’s directing his administration to investigate imports of furniture into the United States that will lead to higher tariffs by October. “Within the next 50 days, that Investigation will be completed, and Furniture coming from other Countries into the United States will be

By Clare Duffy, Lisa Eadicicco, CNN New York (CNN) — The United States government is making an $8.9 billion investment in Intel common stock, giving the Trump administration a roughly 10% stake in the struggling chipmaker, Intel and the president announced on Friday. “It is my Great Honor to report that the United States of

By Bryan Mena, CNN Washington (CNN) — The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum. In one of his most consequential speeches, Powell suggested the labor market could