CNN Business/Consumer

By Jeanne Sahadi, CNN (CNN) — For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law. The new law lifts what had been a $10,000 cap to $40,000 for tax year 2025 and then

CNN, POOL, X By Samantha Delouya and Kristen Holmes, CNN (CNN) — The Trump administration’s intensifying campaign against Federal Reserve Chair Jerome Powell hit a boiling point Thursday. Just two weeks after President Donald Trump sent a handwritten letter to Powell demanding lower interest rates, Russell Vought, Trump’s director of the Office of Management and

By Samantha Delouya, CNN (CNN) — The Trump administration’s intensifying campaign against Federal Reserve Chair Jerome Powell hit a boiling point Thursday. Just two weeks after President Donald Trump sent a handwritten letter to Powell demanding lower interest rates, Russell Vought, Trump’s director of the Office of Management and Budget (OMB), accused Powell of breaking

By Clare Duffy, CNN New York (CNN) — A group of leading tech companies is teaming up with two teachers’ unions to train 400,000 kindergarten through 12th grade teachers in artificial intelligence over the next five years. The National Academy of AI Instruction, announced on Tuesday, is a $23 million initiative backed by Microsoft, OpenAI,

By Jordan Valinsky, CNN New York (CNN) — Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal. Shares of WK Kellogg (KLG) jumped more than 30% in early trading. Ferrero said that it “plans to invest in and grow” the Kellogg business, which includes 14,000 employees and 22

By Allison Morrow and Lisa Eadicicco, CNN New York (CNN) — Grok, the chatbot created by Elon Musk’s xAI, began responding with violent posts this week after the company tweaked its system to allow it to offer users more “politically incorrect” answers. The chatbot didn’t just spew antisemitic hate posts, though. It also generated graphic

By Alicia Wallace, CNN (CNN) — Economists, researchers and analysts have warned that President Donald Trump’s sweeping trade policy of tacking steep tariffs on most goods that come into America will deliver a taxing blow to consumers via higher prices. However, recent months’ economic data has shown that overall inflation has remained fairly tame. Trump

CNN, POOL, SEE PREFONTS By Alicia Wallace, CNN (CNN) — Economists, researchers and analysts have warned that President Donald Trump’s sweeping trade policy of tacking steep tariffs on most goods that come into America will deliver a taxing blow to consumers via higher prices. However, recent months’ economic data has shown that overall inflation has

By Lisa Eadicicco and John Towfighi, CNN New York (CNN) — Nvidia on Wednesday briefly hit $4 trillion in market value, making it the first publicly traded company to hit that milestone. Nvidia stock rose 2.76% after the market opened on Wednesday to hit an intraday record high that pushed its market value above the

By Phil Mattingly and David Goldman, CNN (CNN) — At the conclusion of his first 100 days in office in late April, President Donald Trump made a stunning statement about his progress on tariff negotiations: He had completed trade deals with 200 countries. More than two months later, Trump has announced just three of those

By Jordan Valinsky, CNN New York (CNN) — Max is returning to its former name — HBO Max — beginning immediately. Users of the streaming service, which is owned by CNN’s parent company Warner Bros. Discovery, will see the new-ish name roll out Wednesday, the company announced. The decision to revert to its original name

By Hadas Gold, CNN (CNN) — Grok, the AI-powered chatbot created by Elon Musk’s xAI, has begun pushing antisemitic tropes in its responses to some users’ queries, weeks after Musk said he would rebuild the chatbot because he was unsatisfied with some of its replies that he viewed as too politically correct. On Tuesday, Grok

By Samantha Delouya, CNN (CNN) — Mortgage lenders will soon have a new way to assess borrowers applying for government-backed loans. That sent the stock of America’s biggest credit score company plunging Tuesday. Federal Housing Finance Agency director Bill Pulte announced that lenders may start using VantageScore, a rival to the Fair Isaac Corporation, the

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump said Tuesday he’s imposing a new 50% tariff on all copper imported into the US. However, it’s unclear when the new tariff would take effect. “Today we’re doing copper,” he said at a Cabinet meeting, adding that he believed the rate will be 50%. This would

By John Towfighi, CNN New York (CNN) — President Donald Trump is threatening to revive his trade war. Wall Street isn’t too concerned. Global markets were relatively calm Tuesday after Trump on Monday ratcheted up his tariff campaign — but extended the deadline to August 1 and said he was open to negotiations. That provided

By Anna Cooban and Audry Jeong, CNN London (CNN) — Dozens of America’s trading partners are bracing themselves for August 1, the new deadline for punishing tariffs on goods they export to the United States. For months, countries have tried to negotiate trade deals with the US to avoid the so-called “reciprocal” tariffs President Donald

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump cranked up the pressure Monday on America’s trading partners, firing off letters to heads of several countries, informing them of their new tariff rate. But at the same time, the White House said Trump would take some of the edge off, with plans to sign an

By John Towfighi, CNN New York (CNN) — US stocks fell Monday as President Donald Trump announced a flurry of tariffs on countries including Japan, South Korea and South Africa. The Dow closed lower by 422 points, or 0.94%. The S&P 500 fell 0.79% and the tech-heavy Nasdaq Composite fell 0.92%. The three major indexes

By Anna Cooban, CNN London (CNN) — Shares in Tesla tanked by as much as 7.6% in premarket trading Monday after its CEO Elon Musk said he is forming a new American political party, provoking an irate response from US President Donald Trump. Tesla stock (TSLA) later recovered some of its earlier losses but was

By Auzinea Bacon, John Liu and Simone McCarthy, CNN (CNN) — President Donald Trump has threatened new tariffs on any nation supporting “anti-American” policies of the BRICS group of emerging economies, as he announced tariff letters would be sent out to scores of countries from Monday, ahead of a key deadline. In a Truth Social

CNN By Auzinea Bacon, John Liu and Simone McCarthy, CNN (CNN) — President Donald Trump has threatened new tariffs on any nation supporting “anti-American” policies of the BRICS group of emerging economies, as he announced tariff letters would be sent out to scores of countries from Monday, ahead of a key deadline. In a Truth

CNN By Nayeli Jaramillo-Plata, CNN (CNN) — As Americans celebrate 249 years of independence with fireworks and barbecues, many businesses will be closed for the day. The Fourth of July marks the birth of American independence, the day the Declaration of Independence was adopted in 1776. As a federal holiday, the Fourth means many government

By Jordan Valinsky, CNN New York (CNN) — Costco has rolled out earlier shopping hours. But members will have to pay a bit more to access it. Cardholders of Costco’s priciest “Executive Member” plan, which costs $130 per year, can now exclusively enter warehouses beginning at 9 am through 10 am Sunday through Friday. On

By Brian Stelter, CNN (CNN) — Paramount Global is being hammered for bowing to presidential pressure and settling a lawsuit that it likely could have beaten in court. But this convoluted episode is really more about the plaintiff, President Trump, than about Paramount. “It is odd to call this a ‘settlement’ when the result of

By Clare Duffy, CNN New York (CNN) — When Karandeep Anand’s 5-year-old daughter gets home from school, they fire up the artificial intelligence chatbot platform Character.AI so she can chat about her day with her favorite characters, such as “Libarian Linda.” Anand’s experience using the product as a parent might be helpful now that he’s

CNN By Brian Stelter and Liam Reilly, CNN (CNN) — CBS News parent Paramount Global has agreed to pay $16 million to resolve an extraordinary lawsuit filed by President Donald Trump over a “60 Minutes” news report last fall. The long-gestating and highly controversial settlement payment was announced by Paramount late Tuesday night. Paramount said

By Alejandra Jaramillo and Elisabeth Buchwald, CNN (CNN) — President Donald Trump said Wednesday he has made a trade deal with Vietnam. “I just made a Trade Deal with Vietnam,” Trump wrote in a Truth Social post. In a subsequent post he said, “The Terms are that Vietnam will pay the United States a 20%

By Chris Isidore, CNN (CNN) — Tesla reported another record sales plunge Wednesday, as brand damage from CEO Elon Musk’s political activities and increased competition continued to batter the once fast-growing electric car maker. Tesla reported it sold 384,122 cars in the quarter, down nearly 60,000 cars, or 13.5% from the sales total a year

By Jordan Valinsky, CNN New York (CNN) — Chuck E. Cheese isn’t just for the kids anymore. The arcade chain is opening a spin-off aimed at adults, called “Chuck’s Arcade,” which the company describes as a “modern-day love letter to the games and people who made Chuck E. Cheese great.” Similar to the kiddie version,

By Alicia Wallace, CNN (CNN) — The US private sector lost jobs in June, the first negative month in more than two years, according to new data Wednesday from payroll provider ADP. US employers lost an estimated 33,000 jobs, according to ADP’s monthly national employment report. Economists were expecting ADP’s report to show a net