CNN – Business/Consumer

By John Towfighi, CNN New York (CNN) — Stocks swung in volatile trading Tuesday as investors sold AI-related names, rotated into other sectors and took profits after a strong rally in recent months. The tech-heavy Nasdaq Composite opened higher before dropping more than 3.6% in a rapid reversal during trading. But investors stepped in to

By John Towfighi, CNN (CNN) — Since hitting a record high of $126,000 last fall, bitcoin has dropped to just above $60,000 amid waves of selling. That has erased more than $1.2 trillion in market cap in eight months and wiped out all gains across President Donald Trump’s second term. On Friday, bitcoin touched its

By Ramishah Maruf, CNN New York (CNN) — The screwworm, a flesh-eating parasite and longtime foe of American ranchers, is back in US cattle after decades. The US Department of Agriculture confirmed at least three infected cattle Texas this week. The beef industry has already been grappling with the smallest cattle herd in 75 years

KEYE, TEXAS FARM BUREAU, USDA, CNN By Ramishah Maruf, CNN New York (CNN) — The screwworm, a flesh-eating parasite and longtime foe of American ranchers, is back in US cattle after decades. The US Department of Agriculture confirmed at least three infected cattle Texas this week. The beef industry has already been grappling with the

By Matt Egan, CNN New York (CNN) — One of the biggest mysteries of the global economy is why the oil market has remained so calm during one of the greatest supply shocks in history. The Strait of Hormuz has been paralyzed by three months of war — a nightmare scenario that few thought was

By Lisa Eadicicco, Clare Duffy, CNN New York (CNN) — OpenAI has confidentially filed for an initial public offering, setting it up for what may be the most highly anticipated market debut in recent history and a massive payday for early investors. The decision comes just after OpenAI’s chief rival Anthropic announced plans to go

By Samantha Delouya, CNN (CNN) — Sam Bankman-Fried, the former crypto billionaire who orchestrated one of the largest financial frauds in history, officially asked President Donald Trump for a pardon, according to the Justice Department’s website. Bankman-Fried, 34, co-founded the disgraced crypto exchange FTX and was sentenced to 25 years in prison in 2024. Bankman-Fried’s

By Alicia Wallace, CNN (CNN) — Americans haven’t been this gloomy about their household finances in years – and they expect it’ll only get worse, new survey data showed Monday. The share of Americans who said their financial situation in May was “somewhat worse off” or “much worse off” than a year ago was the

By Hanna Ziady, CNN London (CNN) — Driverless cars will soon be available for public use in London, a first for the British capital that brings vehicles powered by artificial intelligence to one of the world’s most congested cities. The launch marks the beginning of British-born Wayve’s global rollout of robotaxis, which will extend to

By Jordan Valinsky, CNN New York (CNN) — Forget ticket sales and geopolitical tensions. The World Cup might face another hurdle: A years-long decline in drinking. A massive global sporting event should be a celebration for the alcohol industry, as people cram into bars or throw watch parties at home. Anheuser-Busch InBev, Heineken, Molson Coors

By Wayne Chang, CNN (CNN) — When Lip-Bu Tan took the helm of Intel in March 2025, the company was in desperate need of a turnaround. For years, the Silicon Valley-based semiconductor pioneer had been struggling to maintain its market-leading position as a chipmaker, having lost ground to Nvidia, AMD and Qualcomm. Meanwhile, Taiwan Semiconductor

By Brian Stelter, CNN (CNN) — Scott Pelley says “CBS News is on fire” and the news division’s editor in chief Bari Weiss should be removed from her job. “My hope is that the leadership of Paramount will say to themselves, this isn’t working,” Pelley said in an interview with The New York Times, his

By Ramishah Maruf, CNN New York (CNN) — A Lancome employee recently swabbed under my eyes and took a hyper-zoomed photo of my forehead, already shiny and flaking. Then she inserted my protein samples into the company’s Cell BioPrint machine, which gave its verdict in horrifying, flashy red letters: I was suffering from accelerated aging.

By Chris Isidore, CNN (CNN) — Elon Musk just became the world’s first trillionaire after SpaceX, his rocket and AI company, went public on Friday. It’s a staggering amount of wealth never seen before in the history of human commerce. Musk, the world’s richest man even before SpaceX’s IPO, already owns about $279 billion in

CNN By David Goldman, CNN (CNN) — In its 50-year history, Costco has never seen such demand for gas. Many of its stations have been so overwhelmed that they’ve had to call in tanker trucks multiple times a day to avoid running dry, Costco said this week during its quarterly earnings call. A growing number

CNN By Brian Stelter, Andrew Kirell, CNN (CNN) — The three remaining “60 Minutes” correspondents told colleagues Friday that they will stay with the embattled newsmagazine for one stark reason: “We don’t want to see ‘60 Minutes’ die.” Lesley Stahl, Bill Whitaker and Jon Wertheim wrote in a joint memo that they were heartbroken over

By John Towfighi, CNN New York (CNN) — Investors sold stocks, bonds, bitcoin and gold Friday after strong jobs data raised odds for Federal Reserve interest rate hikes, and Wall Street wrestled with weakness in AI stocks. The S&P 500 fell 2.64%, its worst day since October. The index fell into the red for the

By Brian Stelter, Andrew Kirell, CNN (CNN) — The three remaining “60 Minutes” correspondents told colleagues Friday that they will stay with the embattled newsmagazine for one stark reason: “We don’t want to see ‘60 Minutes’ die.” Lesley Stahl, Bill Whitaker and Jon Wertheim wrote in a joint memo that they were heartbroken over the

By Chris Isidore, CNN (CNN) — AI models are rapidly improving – so fast that they may soon be able to develop themselves without human involvement. That’s why Anthropic is warning the AI industry: It needs to build a “brake pedal,” or companies risk losing control of their creations. AI systems that can advance themselves,

CNN By Chris Isidore, CNN (CNN) — AI models are rapidly improving – so fast that they may soon be able to develop themselves without human involvement. That’s why Anthropic is warning the AI industry: It needs to build a “brake pedal,” or companies risk losing control of their creations. AI systems that can advance

By Alicia Wallace, CNN (CNN) — The US labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday. The latest jobs report provided some reassurance that the US labor market may be stabilizing after a year of weak

By Samantha Delouya, CNN (CNN) — President Donald Trump tried – and failed – to end government control of mortgage giants Fannie Mae and Freddie Mac during his first term. Now, his decision to give Bill Pulte, the official charged with making that happen, a second, unrelated job as acting director of national intelligence is

By Brian Stelter, CNN (CNN) — With a shellshocked staff and several open correspondent offices, newly appointed executive producer Nick Bilton is trying to find a way forward for “60 Minutes.” On Thursday, Bilton wrote a memo to staff trying to reassure them that he shares their values and vision. “The foundation of 60 Minutes

By Nathaniel Meyersohn, CNN New York (CNN) — Real estate developers spent millions to stop Zohran Mamdani from becoming New York City’s mayor, claiming his policies would destroy the city. Mamdani wants their help. Mamdani was elected on a platform of rent freezes and government-backed housing, proposing a $100 billion plan during the campaign to

By Alicia Wallace, CNN (CNN) — The labor market may be rousing from its slumber. Economists are expecting that Friday’s jobs report will show that the US economy added 105,000 jobs in May and the unemployment rate held steady at 4.3%. If Friday’s monthly total comes in as expected – and the prior months’ figures

By Chris Isidore, John Towfighi, CNN (CNN) — Elon Musk’s SpaceX unveiled plans on June 3 to raise $75 billion in an initial public offering of its stock that would value the company at roughly $1.77 trillion. The blockbuster debut could make Musk – already the world’s richest person – the first trillionaire. SpaceX plans

By David Goldman, CNN (CNN) — President Donald Trump pledged to restore his tariff regime after setbacks in the Supreme Court and other legal challenges. Now, he’s doing it — but not in the blustery, fly-by-the-seat-of-his-pants, all-caps-late-night-Truth-Social-post manner that once defined his tariff policy. Trump’s quiet, methodical, patient new approach to tariffs is on purpose.

By Lisa Eadicicco, CNN New York (CNN) — For at least a decade, tech giants have tried to develop computers that can handle complicated tasks on a user’s behalf. But those efforts have largely fallen flat, with assistants like Alexa and Siri mostly being used for things like setting alarms and playing music. Some of

By Matt Egan, CNN New York (CNN) — Tickets to the NBA Finals in New York are so hot that fans are spending thousands of dollars – even for nosebleed seats. The cheapest tickets to the New York Knicks home games at Madison Square Garden are selling for nearly $4,000 each, according to secondary marketplace

By Brian Stelter, CNN (CNN) — CBS News fired veteran “60 Minutes” correspondent Scott Pelley on Tuesday, one day after he sharply criticized the newsmagazine’s new leadership in front of the staff. CBS News editor in chief Bari Weiss said Wednesday that her leadership team had tried to reconcile with Pelley, but “we weren’t able