CNN Business/Consumer

By Nathaniel Meyersohn, CNN New York (CNN) — Tariffs are slamming Gap. Gap said Thursday that if President Donald Trump’s 30% tariffs on China and 10% duties on most imports from other countries remain at current levels, it could cost the company $100 million to $150 million this year. Gap (GAP) stock plunged 15% during

By Clare Duffy, CNN New York (CNN) — The chief executive of one of the world’s leading artificial intelligence labs is warning that the technology could cause a dramatic spike in unemployment in the very near future. He says policymakers and corporate leaders aren’t ready for it. “AI is starting to get better than humans

CNN By Ramishah Maruf, CNN CNN (CNN) — Academics and economists have long warned that rapidly advancing artificial intelligence will wipe out jobs and upend the global economy. Now that call is coming from inside the house. On Thursday, Anthropic CEO Dario Amodei warned on CNN that the technology will spike unemployment sooner than political

By Dan Berman and Ramishah Maruf, CNN (CNN) — A federal appeals court has paused Wednesday night’s ruling from the Court of International Trade that blocked President Donald Trump’s tariffs. The United States Court of Appeals for the Federal Circuit’s ruling restores Trump’s ability to levy tariffs using the emergency powers he declared earlier this

By Bryan Mena, CNN Washington (CNN) — The US economy shrank slightly less in the beginning of the year than previously reported, new data shows, but it was still the first quarterly decline since 2022, in a sign of how President Donald Trump’s chaotic and aggressive tariff regime is affecting American consumers and businesses. Gross

By David Goldman, John Towfighi and Alicia Wallace, CNN New York (CNN) — Stocks edged higher on Thursday as Wall Street assessed the outlook for President Donald Trump’s tariff agenda, which remains in limbo as federal courts deliberate its legality. The Dow closed higher by 117 points, or 0.28%, after fluctuating throughout the day. The

By Ramishah Maruf, CNN New York (CNN) — Hailey Bieber’s beauty brand rhode sold to budget makeup powerhouse e.l.f. Beauty for $1 billion on Wednesday. It’s e.l.f.’s largest acquisition to date, eclipsing its $355 million purchase of skin care brand Naturium in 2023. Founded in 2022, Bieber’s brand racked up $212 million in net sales

By Elisabeth Buchwald, CNN (CNN) — The Trump administration has effectively cut off some American companies from selling software used to design semiconductors to China, the Financial Times reported on Wednesday. Impacted companies include Cadence, Synopsys and Siemens EDA, according to the FT’s reporting, which cited people familiar with the matter. CNN was not immediately

By Samantha Delouya and Hadas Gold, CNN (CNN) — A group of Tesla investors is urging Elon Musk to commit at least 40 hours a week to running the electric vehicle company, arguing his undivided attention is needed to repair Tesla’s faltering sales and stock price volatility. “Mr. Musk’s outside endeavors appear to have diverted

CNN By Elisabeth Buchwald, CNN (CNN) — Wall Street has been riding a historic roller coaster the past few months due to President Donald Trump’s on-again, off-again tariff threats. Now, investors are learning to take his words with a grain of salt — and a bit of salsa, too. That’s because there’s a new type

By Bryan Mena, CNN Washington (CNN) — Economists and top policymakers at the Federal Reserve see a growing risk of America’s job market weakening because of President Donald Trump’s erratic trade war, according to minutes from the central bank’s latest policy released Wednesday. “The labor market was expected to weaken substantially,” the minutes said, adding

By Anna Cooban, CNN London (CNN) — The United Nations expects that millions of potential jobs will vanish this year because of an economic slowdown triggered by US President Donald Trump’s trade war. The International Labour Organization (ILO), a UN agency, predicts in a report released Wednesday that 53 million jobs will be created worldwide

By Clare Duffy, CNN New York (CNN) — Google and Apple will soon be required to verify app store users’ ages in Texas, after Gov. Greg Abbott signed the rule into law on Tuesday. The Texas App Store Accountability Act follows similar legislation that passed in Utah earlier this year, although it requires the app

By Jordan Valinsky, CNN New York (CNN) — With beer sales flatlining, Anheuser-Busch is looking beyond hops and toward Ultimate Fighting Championship’s controversial boss Dana White to help them crack the growing energy drink category. Launching nationwide Wednesday is Phorm Energy, the company’s newest energy drink. The non-alcoholic caffeinated beverage marks the first product stemming

By Lisa Eadicicco, CNN (CNN) — In 2011, then-President Barack Obama pressed Apple CEO Steve Jobs on what it would take to bring iPhone production to the United States, according to The New York Times. Fourteen years later, President Donald Trump is resurfacing that question to current Apple CEO Tim Cook – and the stakes

By Bryan Mena, CNN Washington (CNN) — It’s been a little while since Americans had an inkling of optimism about the economy. Consumer confidence rose 12.3 points this month to a reading of 98, the Conference Board said in its latest survey released Tuesday, the first monthly gain since November. That’s higher than economists’ expectations

By David Goldman, CNN New York (CNN) — Rinse, repeat. Stocks rose Tuesday after President Donald Trump did a 180-degree turn on his threat to place a massive 50% tariff on goods imported from the European Union. The Dow was up 400 points, or 0.98%. The broader S&P 500 rose 1.2% and the tech-heavy Nasdaq

By Brian Stelter, CNN (CNN) — National Public Radio filed a First Amendment lawsuit against the Trump administration on Tuesday, alleging that President Trump’s attempt to defund NPR is a “clear violation of the Constitution.” Several NPR member stations from Colorado joined the national network in filing the suit, highlighting the local impacts of taxpayer-funded

By Bryan Mena, CNN Washington (CNN) — By week’s end, it’ll be much clearer how the US economy is holding up amid President Donald Trump’s sweeping policy changes. Trump’s erratic trade war has already unsettled consumers and taken a toll on economic growth — mostly due to American businesses rushing to stock up on imports.