Money

By Phil Mattingly, CNN (CNN) — The staggering and exceedingly public rupture in the world’s most consequential and unprecedented partnership was a long time coming. But the surreal state of suspended animation that consumed Washington as President Donald Trump and Elon Musk traded escalating blows on social media obscured a 48-hour period that illustrated a

By Samantha Waldenberg and David Goldman, CNN (CNN) — President Donald Trump announced Friday that US and Chinese officials will meet in London on Monday to discuss trade between the two nations. “I am pleased to announce that Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative, Ambassador

By Marshall Cohen, CNN Washington (CNN) — Hunter Biden on Friday dropped a lawsuit against Fox News that accused the conservative network of unlawfully airing sexually explicit images of him. This is the second time Hunter Biden has filed and then voluntarily dismissed a lawsuit against Fox News. The cases stemmed from a 2022 digital

By John Towfighi, CNN New York (CNN) — Wall Street this week cautiously rallied, betting President Donald Trump might take a softer tone on his trade war. Investors on Friday got their wish as the president said the next round of US-China trade talks is set to take place on Monday. The S&P 500 on

By Jordan Valinsky, CNN New York (CNN) — Lululemon’s stock is on pace for one of its biggest routs in history after the athleisure maker warned that tariffs will dent its profit. The company cut its full-year guidance citing a “dynamic macroenvironment” that includes a decline in visits to its US stores, the impact of

By Natasha Chen, CNN Lose Angeles (CNN) — Part of the massive domestic policy bill currently moving through Congress known as the “Big Beautiful Bill,” includes an unprecedented $5 billion national school voucher program. Republicans have long advocated for so-called school choice, but critics have labeled the initiative a tax cut for the wealthy. Sending

By Alicia Wallace, CNN (CNN) — The Trump administration’s statements and actions aimed at curtailing the number of international students in the US have sent a chill of uncertainty through higher education institutions. These American schools have become more reliant on the higher tuition paid by international students as state and federal support has waned.

By Chris Isidore, CNN (CNN) — Even with new tariffs on imported cars and car parts, American car buyers paid slightly less in May for new vehicles. Data from Edmunds.com on Thursday showed that the the average price paid for new cars edged down 0.2% to $48,334 last month compared to April. The dip came

By Chris Isidore, CNN (CNN) — Tesla stock soared in the months after the November presidential election because investors were convinced Donald Trump was about to do massive favors for his largest financial backer, Tesla CEO Elon Musk. But Trump can also do great damage to Musk’s many business interests. The risk of that damage

By Brian Stelter, CNN (CNN) — Shari Redstone, the media mogul who has been trying to sell Paramount in a politically fraught transaction, is undergoing treatment for cancer. Redstone “was diagnosed with thyroid cancer earlier this spring,” her spokesperson said in a statement. “While it has been a challenging period, she is maintaining all professional

By Clare Duffy and Amy O’Kruk, CNN (CNN) — A public feud between President Donald Trump and his on-again, off-again ally, billionaire Elon Musk, reignited this week after an apparent truce lasted less than a month. Musk resumed his criticism of Trump’s massive tax and domestic policy bill on Monday, as Republican leaders push to

By Alicia Wallace, CNN (CNN) — The Consumer Price Index is more than just the most widely used inflation gauge and a measurement of Americans’ purchasing power. Its robust data plays a key role in the US economy’s trajectory as well as monthly mortgage payments, Social Security checks, financial aid packages, business contracts, pay negotiations

By Chris Isidore, CNN (CNN) — It wasn’t long ago that Tesla CEO Elon Musk was advocating for ending the $7,500 tax credit for buyers of electric vehicles. “Take away the subsidies. It will only help Tesla,” he said in a post on his social media platform X last year, adding “Also remove the subsidies

By Liam Reilly, CNN (CNN) — Anna Gomez, soon to be the lone Democrat on the Federal Communications Commission, has been sounding the alarm about President Donald Trump’s “weaponization” of her agency against the press. And now she’s taking it on the road. Gomez has embarked on a “First Amendment Tour” of planned speeches across

By Liam Reilly, CNN (CNN) — UnitedHealthcare sued The Guardian and its parent on Wednesday for defamation, claiming the US version of the British daily newspaper ran information it knew to be incorrect in order to “capitalize” on the assassination of the medical insurer’s CEO. The article in question was produced and published by The

By Jordan Valinsky, CNN New York (CNN) — Michaels is jumping into the void left by the collapse of Joann, announcing Thursday that it’s buying the fabric retailer’s private label and drastically expanding its sewing selection. In a press release, Michaels said that searches on its website for the word “fabric” have jumped nearly 80%

By Lisa Eadicicco, CNN New York (CNN) — It’s a big day for Nintendo fans. The gaming giant’s new console, the Switch 2, arrives on store shelves globally after being announced in April — marking Nintendo’s first major console launch since the original Switch arrived roughly eight years ago. And fans have clearly been waiting;

By Anna Cooban, CNN London (CNN) — The European Central Bank on Thursday cut its main interest rate again, citing slowing price rises. The widely anticipated move takes the ECB’s main rate to 2%, from 2.25% previously, and marks the eighth time the central bank has slashed borrowing costs since last June as inflation has

By Jordan Valinsky, CNN New York (CNN) — Hooters has abruptly closed dozens of locations just a few months after the chicken wing chain filed for bankruptcy and proclaimed it wasn’t “going anywhere.” “After careful consideration of what is needed to best position our company for the future, Hooters made the difficult decision to close

By Alicia Wallace, CNN (CNN) — Last June, after almost a full year on the job hunt, Jordan Williams landed a role at a high-growth, United Kingdom-based outdoor apparel brand that was looking to build out its US operations. Passenger Clothing was well positioned for expansion: The company landed orders with REI, Scheels and others;