CNN Business/Consumer

By David Goldman, CNN (CNN) — President Donald Trump said Wednesday that Federal Reserve Chair Jerome Powell has kept interest rates too high and that he might call the central bank chief. “I haven’t called him. I might call him,” Trump said in an Oval Office executive action signing ceremony Wednesday evening. “I believe he’s

By Ramishah Maruf, CNN New York (CNN) — Twelve states sued the Trump administration Wednesday for “illegally imposing” tax hikes on Americans through tariffs. Trump imposed the tariffs through the International Emergency Economic Powers Act (IEEPA), which gives the president the authority to enact those powers in response to unusual and extraordinary threats. The lawsuit

CNN By Kevin Liptak, Jeff Zeleny and David Goldman, CNN (CNN) — President Donald Trump’s unprecedented tariffs, particularly on China, and recent attacks on Federal Reserve Chair Jerome Powell caused alarm among some of his top advisers and America’s biggest CEOs, who warned of financial chaos and store shelves that could go bare, people familiar

By Clare Duffy, CNN New York (CNN) — Many of America’s wealthiest business leaders have lost millions, if not billions, of dollars in net worth since the start of the year, as President Donald Trump’s policies hit markets. But some might have lost even more if they hadn’t offloaded millions of dollars’ worth of stock

By Chris Isidore, CNN (CNN) — Elon Musk says he’s going back to Tesla. The question now is whether or not its too late to reverse the damage that’s been done. Musk told investors on Tuesday night he would step back from his role running the Department of Government Efficiency (DOGE) next month, spending only

By Olesya Dmitracova, CNN London (CNN) — Businesses in Germany and Britain produced less this month amid worries about President Donald Trump’s near-universal tariffs, in another sign that the global damage from his import levies is adding up. Closely watched surveys of purchasing managers showed Wednesday that private sector output contracted in Germany, Europe’s biggest

By Kevin Liptak, Jeff Zeleny and David Goldman, CNN (CNN) — President Donald Trump’s unprecedented tariffs, particularly on China, and recent attacks on Federal Reserve Chair Jerome Powell caused alarm among some of his top advisers and America’s biggest CEOs, who warned of financial chaos and store shelves that could go bare, people familiar with

By Anna Cooban, CNN London (CNN) — The European Union has fined Apple and Meta a combined €700 million ($797 million) in the first enforcement of its landmark digital competition law. The penalties for breaching the Digital Markets Act come amid attacks on the EU by the Trump administration for what it sees as the

By Chris Isidore, CNN (CNN) — Boeing’s problems the last six years have been legion. Tariffs could be yet another gut punch for the beleaguered company – and, given Boeing’s importance as the top US exporter, for the economy as a whole. Boeing’s jets could get millions of dollars more expensive if other countries impose

CNN By Liam Reilly, CNN (CNN) — Bill Owens, the executive producer for CBS News’ flagship “60 Minutes” program, announced he will resign from the top job on Tuesday, saying he no longer has control over the show. In a memo obtained by CNN, Owens said to “60 Minutes” staff that the last few months

CNN By Chris Isidore, CNN (CNN) — Elon Musk says he’s going back to Tesla. The question now is whether or not its too late to reverse the damage that’s been done. Musk told investors on Tuesday night he would step back from his role running the Department of Government Efficiency (DOGE) next month, spending

By Ramishah Maruf, Tori B. Powell and Elisabeth Buchwald, CNN New York (CNN) — President Donald Trump said he had “no intention of firing” Federal Reserve Chair Jerome Powell on Tuesday. The message is a stark change from just a day earlier, when Trump called Powell a “major loser” in a Truth Social post and

By Liam Reilly, CNN (CNN) — Bill Owens, the executive producer for CBS News’ flagship “60 Minutes” program, announced he will resign from the top job on Tuesday, saying he no longer has control over the show. In a memo obtained by CNN, Owens said to “60 Minutes” staff that the last few months have

By Chris Isidore, CNN (CNN) — Elon Musk says he’s coming back to Tesla, partly stepping away from his high profile and controversial Trump administration role that has been blamed for a plunge in profits and sales at the company. Musk told Tesla investors on Tuesday that he would scale back his efforts at Department

By David Goldman, CNN (CNN) — Stocks are on the rebound Tuesday, bouncing back from another miserable day on Wall Street. But American financial markets are sounding all sorts of alarm bells that one day in the green can hardly overcome. That’s because investors have been sending a clear message: President Donald Trump’s trade war

By Olesya Dmitracova, CNN London (CNN) — President Donald Trump’s unpredictable tariff policy and countermeasures by America’s trading partners will likely deal a heavy blow to economies worldwide, with US prosperity hit particularly hard, the International Monetary Fund warned Tuesday. Global economic growth will slow to 2.8% this year, from 3.3% last year and significantly

By John Towfighi, CNN New York (CNN) — Treasury Secretary Scott Bessent told investors Tuesday that the US-China trade war is unsustainable and he expects the battle to de-escalate, a person familiar with the matter confirmed to CNN, giving a brief boost to a Wall Street rally that had taken shape this morning. US stocks

By Clare Duffy, CNN New York (CNN) — The impact of social media on young people’s mental health and well-being is a growing topic of concern among parents, educators, health care professionals and regulators. And now, nearly half of US teens say social media has a mostly negative effect on people their age — and

By Jordan Valinsky, CNN New York (CNN) — TGI Fridays, the bankrupt casual dining chain, has only 85 restaurants left in the United States, according to its website. It’s a sharp decline of the once-iconic restaurant, which had about 270 US locations at the beginning of last year and has only seen its store count

By Lisa Eadicicco, CNN New York (CNN) — There’s a key difference between an iPhone and Samsung Galaxy phone that may matter now more than ever: One was likely assembled in China, while the other was probably produced in Vietnam, India or South Korea. Samsung, unlike Apple, doesn’t rely heavily on China for smartphone production,

By Elisabeth Buchwald, CNN New York (CNN) — Ever since President Donald Trump introduced his first round of new tariffs, it’s been a waiting game to see just how much they’ll impact the global economy. This week, one of the earliest signs was revealed — and it wasn’t pretty. South Korea’s Customs Service reported that

By Jordan Valinsky, CNN New York (CNN) — Among the biggest annoyances of booking an Airbnb are the fees, which can jack up the price of the once affordable alternative to hotels. That’s changing Monday with the platform now displaying the total price on default. All users will now see the full price of a