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
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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
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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
Continue ReadingBy 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.
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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
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By Alicia Wallace, CNN (CNN) — The long-resilient US labor market slowed down a little in May, adding 139,000 jobs, according to Bureau of Labor Statistics data released Friday. Last month’s job gains, which came in slightly more than expected, marked a retreat from April, which was downwardly revised to 147,000. The unemployment rate held
Continue ReadingBy 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
Continue ReadingBy 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
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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
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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
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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
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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
Continue ReadingBy 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%
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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
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By John Towfighi, CNN New York (CNN) — Stablecoins are on the verge of going mainstream, analysts say, as a landmark regulatory bill makes its way through Congress. The Senate is deliberating the GENIUS Act, which would provide a framework for regulating stablecoins. The bill last week passed a major procedural hurdle in the Senate
Continue ReadingBy John Liu and Nectar Gan, CNN Hong Kong (CNN) — The European Union has urged China to ease restrictions on rare earth materials – critical for everything from cars to washing machines – after Beijing’s export controls disrupted supplies and triggered production turmoil across industries in Europe and America. Maros Sefcovic, the European Union’s
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — In the New England region, a clothing store re-tagged items to be sold during the summer to cover the cost of tariffs. A car dealership in upstate New York said its inventory has been depleted by Americans rushing to get ahead of tariffs. And an electronics manufacturer said
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WDJT, KFVS, CNN By Chris Isidore, CNN (CNN) — US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the metals, from car makers to can manufacturers. The jump in import taxes is
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By Alicia Wallace, CNN (CNN) — High economic uncertainy has hiring grinding to a halt at US businesses. Job growth slowed for the second month in a row at private-sector firms, which added just 37,000 jobs in May, according to new employment estimates released Wednesday by payroll company ADP. May’s job gains, which marked a
Continue ReadingBy Vanessa Yurkevich, CNN New York (CNN) — At the start of February, Randy Carr, the CEO of World Emblem, booked a plane ticket to the Caribbean. President Donald Trump had just announced a 25% duty on Mexico and Canada – what would be the first of many tariffs on other countries. World Emblem, the
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — Americans have stepped up their spending on cars and other big-ticket items in recent months, rushing to get ahead of President Donald Trump’s stiff tariffs. Economists say the rush in spending has put the US economy in a more vulnerable position, especially if the labor market begins to
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By Simone McCarthy, CNN Hong Kong (CNN) — US President Donald Trump says Chinese leader Xi Jinping is “extremely hard to make a deal with” in a comment that comes as frictions rise between the two countries, weeks after they reached an agreement to de-escalate trade tensions. “I like President XI of China, always have,
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By Lisa Eadicicco and Anna Stewart, CNN (CNN) — Demis Hassabis, CEO of Google’s AI research arm DeepMind and a Nobel Prize laureate, isn’t too worried about an AI “jobpocalypse.” Instead of fretting over AI replacing jobs, he’s worried about the technology falling into the wrong hands – and a lack of guardrails to keep
Continue Reading CNN, POOL, OECD REPORT By Chris Isidore, CNN (CNN) — US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the metals, from car makers to can manufacturers. The jump in import taxes
Continue ReadingBy Chris Isidore, CNN (CNN) — US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the metals, from car makers to can manufacturers. The jump in import taxes is the latest salvo
Continue ReadingBy Samantha Delouya, CNN (CNN) — Warner Bros. Discovery shareholders voted on Tuesday to reject the pay packages for several of the company’s executives, including CEO David Zaslav’s compensation package of more than $50 million. Nearly 60% of the symbolic vote was against the 2024 executive payouts at Warner Bros. Discovery’s annual meeting, according to
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By Brian Stelter and Liam Reilly, CNN (CNN) — America’s two big public broadcasters, PBS and NPR, have 45 days to salvage their federal funding — starting now. On Tuesday, the Trump administration sent Congress a long-awaited request for lawmakers to cancel more than $1 billion in federal funds earmarked for the Corporation for Public
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By Alicia Wallace, CNN (CNN) — The number of available jobs in the US unexpectedly increased in April, new data showed Tuesday, a potential indicator that the labor market isn’t yet buckling amid broader economic concerns. Job openings totaled an estimated 7.39 million at the end of April, up from 7.2 million in March, according
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By Nathaniel Meyersohn, CNN New York (CNN) — Middle-class and wealthier Americans are heading to Dollar General. That’s benefiting the company, but it could be a warning sign for the wider economy. Dollar General said Tuesday that sales at stores open for at least a year had increased 2.4% last quarter. The discount chain also
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By Anna Cooban, CNN London (CNN) — President Donald Trump’s trade war will wreak greater economic damage than previously expected, both in the United States and everywhere else, according to new forecasts by the Organisation for Economic Co-operation and Development. In a report Tuesday, the group of 38 mostly wealthy nations sharply downgraded its 2025
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