By Reuters (CNN) — OpenAI will remain under the control of a non-profit, the startup at the heart of the generative artificial intelligence boom said on Monday, months after it outlined plans to revamp its structure to create a public benefit corporation that would make it easier to raise capital. OpenAI’s non-profit will continue to
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By Brian Stelter and Jamie Gangel, CNN (CNN) — Filmmakers and Hollywood financiers are baffled, to say the least, by President Trump’s announcement that he wants a 100% tariff on movies produced outside the United States. Several movie studio and streaming industry executives who spoke with CNN are downright apoplectic because, they believe, the president
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By Nathaniel Meyersohn, CNN New York (CNN) — Skechers is fleeing the public market and hunkering down by going private during the middle of a trade war. The company announced Monday that investment firm 3G Capital will buy Skechers for $9.4 billion. 3G will pay $63 a share for the brand, a 30% premium of
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By Matt Egan, CNN New York (CNN) — About 4 million, or roughly one in five, federal student loan borrowers with a payment due are seriously delinquent, according to a new analysis published Monday by TransUnion. Research from the information and insights company suggests that a significant number of Americans with student loan debt are
Continue Reading CNN By Matt Egan, CNN New York (CNN) — About 4 million, or roughly one in five, federal student loan borrowers with a payment due are seriously delinquent, according to a new analysis published Monday by TransUnion. Research from the information and insights company suggests that a significant number of Americans with student loan debt
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By Jeanne Sahadi, CNN (CNN) — Many investors — especially high-income ones living in high-tax states — benefit from owning state and local municipal bonds for their tax advantages. The interest investors make on munis is exempt from federal income tax — and in some cases, state and local taxes too, if you buy a
Continue ReadingBy Samantha Delouya, CNN (CNN) — When a deal to buy Caitlin Bigelow’s San Francisco condo fell through last month, she felt relief, rather than disappointment. Bigelow was working with a Realtor she trusted from Compass who had suggested she first list her home as a “Compass Private Exclusive.” That meant her home wouldn’t immediately
Continue ReadingBy John Liu, CNN (CNN) — President Donald Trump says tariffs on Chinese imports to the United States will eventually be lowered, after both Beijing and Washington appeared to soften their positions about potential trade talks. “At some point, I’m going to lower them because otherwise you could never do business with them,” he said
Continue ReadingBy David Goldman, CNN (CNN) — President Donald Trump on Sunday extended his trade war to the cinema. Trump, in an evening post on his social media platform Truth Social, said he has instructed the Commerce Department and US Trade Representative to place a 100% tariff on films that are produced outside the United States
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CNN By David Goldman, CNN (CNN) — President Donald Trump on Sunday extended his trade war to the cinema. Trump, in an evening post on his social media platform Truth Social, said he has instructed the Commerce Department and US Trade Representative to place a 100% tariff on films that are produced outside the United
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By Reuters (CNN) — U.S. President Donald Trump said he would extend the June 19 deadline for China-based ByteDance to divest the U.S. assets of TikTok, the short video app used by 170 million Americans, if no deal had been reached by then. ”I would … I’d like to see it done,” Trump told the
Continue ReadingBy Auzinea Bacon, CNN (CNN) — President Donald Trump said the US economy is a mixture of his enacted policies and the effects of the Biden administration in a wide-ranging interview on NBC’s “Meet the Press with Kristen Welker.” “I think the good parts are the ‘Trump economy’ and the bad parts are the ‘Biden
Continue ReadingBy Leah Asmelash, CNN (CNN) — If you believe social media, signs of an impending recession are everywhere. Lady Gaga back on the charts? That’s a recession indicator. Coupons and canned good displays at grocery stores? Definitely recession indicators. And the return of knee-high Converse sneakers? Possibly the most obvious recession indicator of them all.
Continue ReadingBy Luciana Lopez, CNN (CNN) — It’s hard to think of anyone on Wall Street who contains quite the same contradictions as Warren Buffett. He’s a white-haired, ice-cream-eating, Cherry-Coke drinking avuncular figure — who has also cut some of the world’s sharpest deals and amassed a fortune bigger than some nations’ entire annual economy. Buffett,
Continue ReadingBy Ramishah Maruf, CNN New York (CNN) — Telling investors what’s coming is a normal part of doing business. But with tariff chaos sown throughout the economy, many major companies are “suspending guidance” entirely. Corporate America is wading through uncertain waters, stuck in an uncomfortable wait-and-see mode until it becomes clear whether Trump’s broad reciprocal
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CNN By Auzinea Bacon, CNN (CNN) — In an announcement that many investors knew was coming but didn’t believe would actually happen, famed investor Warren Buffett said Saturday at Berkshire Hathaway’s annual shareholder meeting that he would step down as CEO at the end of the year. Greg Abel would take over at that point,
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By Brian Stelter, CNN (CNN) — Less than two months ago, when the Trump administration turned off the Voice of America’s networks and websites, Kari Lake, a fierce loyalist to President Donald Trump, said the agency is “unsalvageable.” Now, Lake is working on salvaging it, and VOA may be about to come back online. “We
Continue Reading By Auzinea Bacon, CNN (CNN) — In an announcement that so many investors knew was coming but didn’t believe would actually happen, famed investor Warren Buffett said Saturday at Berkshire Hathaway’s annual shareholder meeting that he would step down as CEO at the end of the year. Greg Abel would take over at that point,
Continue ReadingBy Ramishah Maruf, CNN New York (CNN) — Hours after the a key US tariff exemption expired on Friday, Chinese e-commerce site Temu announced it was overhauling its shipping model, sending out all American sales via US-based sellers. “All sales in the U.S. are now handled by locally based sellers, with orders fulfilled from within
Continue ReadingBy Chris Isidore, CNN (CNN) — The average car buyer doesn’t think about where the parts in their vehicle come from – but automakers do. That’s why a new round of auto tariffs – this time on parts – coming into effect Saturday could upend the industry, even more than previous levies on imported cars.
Continue ReadingBy Samantha Waldenberg and Bryan Mena, CNN (CNN) — President Donald Trump appeared to dismiss growing concerns that his economic policies could cause a recession, telling NBC News that the economy would be “OK” in the long term even if a recession happens in the near future. “Some people on Wall Street say that we’re
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CNN By Samantha Waldenberg and Bryan Mena, CNN (CNN) — President Donald Trump appeared to dismiss growing concerns that his economic policies could cause a recession, telling NBC News that the economy would be “OK” in the long term even if a recession happens in the near future. “Some people on Wall Street say that
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By Auzinea Bacon, CNN (CNN) — Household appliance maker SharkNinja is recalling roughly 1.8 million pressure cookers due to reports of burn injuries, according to a US Consumer Product Safety Commission notice posted Thursday. The Ninja Foodi OP300 Series Multi-Function Pressure Cooker risks burning users because the lid can be opened during use, potentially “causing
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By Matt Egan, CNN New York (CNN) — Zelle is returning to service after an outage for customers at some banks due to what the popular peer-to-peer payment platform blamed on a problem at a different firm. DownDetector, which lets users track outages, showed a spike in customers reporting payment problems starting Friday morning before
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By John Towfighi, CNN New York (CNN) — US stocks rose Friday as China signaled openness to trade talks and investors digested a better-than-expected jobs report. The Dow was up 570 points, or 1.4%, Friday afternoon. The broader S&P 500 rose 1.6% and the tech-heavy Nasdaq Composite gained 1.7%. The S&P 500 was on track
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By Anna Stewart, Maisie Linford and Issy Ronald, CNN (CNN) — OpenAI has withdrawn an update that made ChatGPT “annoying” and “sycophantic,” after users shared screenshots and anecdotes of the chatbot showering them with over-the-top praise. When CNN’s Anna Stewart asked ChatGPT after the rollback if it thought she was a god, it replied with
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By Brian Stelter, CNN (CNN) — Radio Free Asia is laying off most of its staff and shutting down many of its news broadcasts and streams, amid a funding battle with the Trump administration. Friday’s layoff notices are the latest impacts of President Trump’s crusade against the international broadcasters the United States has bankrolled for
Continue ReadingBy Natasha Chen, CNN Los Angeles (CNN) — Edgar Recinos no longer has to choose between paying rent and buying groceries. As a cook at a Wingstop restaurant in Los Angeles, Recinos got a significant wage bump last year — one of half a million fast food workers taking part in a great labor experiment.
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By John Towfighi and Matt Stiles, CNN (CNN) — The US stock market has been on a rollercoaster during President Donald Trump’s second term. The S&P 500 posted its third-worst 100-day start to a presidential term in US history, only behind Gerald Ford and Richard Nixon. The S&P 500 initially surged after Trump’s reelection in
Continue ReadingBy Nathaniel Meyersohn, CNN New York (CNN) — Diversity, equity and inclusion (DEI) has been losing with corporate America, with one big exception: the people who actually own the companies. This year, investors at some of America’s biggest companies — Costco, Apple, Levi’s, John Deere, Goldman Sachs and others — have overwhelmingly voted against proposals
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