CNN – Business/Consumer

By Matt Egan, CNN New York (CNN) — Kevin Warsh’s dream of becoming Federal Reserve chairman was nearly tarnished by the specter of having to confront simultaneous and conflicting challenges brewing in the US economy. In January, when President Donald Trump nominated Warsh for the top job, the labor market had just wrapped up one

By Chris Isidore, CNN (CNN) — President Donald Trump says the vital Strait of Hormuz has been reopened under terms of an agreement reached Sunday with Iran. Shipping industry sources aren’t so sure. “Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” Trump posted Monday on social media.

By Matt Egan, CNN (CNN) — The amount of oil in the US Strategic Petroleum Reserve plunged last week to the lowest level since 1983 as the Trump administration continues to deploy emergency oil to minimize the damage from the war with Iran. According to federal data released Monday, US officials released another 8.9 million

By Jordan Valinsky, CNN New York (CNN) — Fox is acquiring Roku, the popular streaming TV platform, in a massive $22 billion deal, the companies announced Monday. The transaction makes Fox a much more competitive streaming player, combining Fox’s sports, news and entertainment shows, as well its free Tubi streaming service, with Roku’s devices and

By John Towfighi, CNN (CNN) — SpaceX, Elon Musk’s massive space-exploration-slash-AI company, went public last week in a record-breaking IPO. But even if you’re not buying yet, you could still see the company’s stock in your 401(k) soon via a number of avenues. And if you’re on the other side and want to avoid shares

By Auzinea Bacon, David Goldman, Hanna Ziady, CNN (CNN) — Oil prices sank Monday, hitting their lowest levels in more than three months, after the United States and Iran said they had reached an agreement that would end a US blockade of Iranian ports and reopen the vital Strait of Hormuz. Brent crude, the global

By Bryan Mena, CNN Washington (CNN) — While millions of Americans are struggling to find jobs in a tough labor market, healthcare is emerging as a lifeline for career changers. After six years as a stay-at-home mother, Cynthia Webster, 50, planned last year to reenter the workforce, bracing for a potentially frustrating job search. So

By Jeanne Sahadi, CNN (CNN) — Most financial experts will tell you to wait to claim your Social Security retirement benefits at least until your full retirement age (which is now 67) or even as late as age 70. Why? Your benefit will be permanently lower if you claim at 62, which is the earliest

By Chris Isidore, CNN (CNN) — Elon Musk has many people to thank for becoming the world’s first trillionaire — his companies’ engineers who produced technological breakthroughs, Wall Street investors who were eager to shower him with their dollars despite questionable financials, but most of all, American taxpayers and government policymakers. “There would not be

By Hadas Gold, CNN (CNN) — AI company Anthropic has disabled customer access to its most capable systems after the US government ordered it to suspend all use by foreign nationals, Anthropic said in a statement Friday evening. The move is the latest in a series of adverse Trump administration actions targeting the company. The

By Lisa Eadicicco, CNN (CNN) — Siri is finally getting the big AI upgrade Wall Street has been waiting for. But it’s just the beginning. Apple on Monday announced Siri AI, a major revamp the company hopes will thrust its roughly 15-year-old digital assistant into the spotlight alongside OpenAI’s ChatGPT and Google’s Gemini. The new

By Ramishah Maruf, CNN New York (CNN) — SpaceX’s highly anticipated IPO has officially lifted off. Wall Street rejoiced, everyday investors placed so many buy orders it caused outages on Robinhood for a bit, and the world’s richest man became the world’s first trillionaire. Shares of Elon Musk’s rocket and AI company (SPCX) settled at

By Bryan Mena, CNN Washington (CNN) — Consumer sentiment may finally be recovering after falling to historic lows due to wartime price spikes. The University of Michigan’s latest survey of Americans, released Friday, showed that sentiment rose 9% to a preliminary reading of 48.9 early this month, the first increase since February, before the United

By David Goldman, CNN (CNN) — Cushing, Oklahoma, dubs itself the pipeline crossroads of the world. The tagline is emblazoned on a giant roadside sign fashioned out of pipes on the corner of Main Street and South Stiles Road. It has a valve and everything. But it’s not just a slogan. In 1912, Tom Slick

By Clare Duffy, CNN New York (CNN) — New data center construction projects are springing up across the United States, as the tech industry seeks to meet huge computing demand to power artificial intelligence and the massive volume of content now stored online. Tech leaders have said the projects will bring jobs and other benefits

By Bryan Mena, CNN Washington (CNN) — Inflation hit its highest level in three years last month, according to fresh data released this week — but new Federal Reserve Chair Kevin Warsh wants the central bank to focus on different measures. “The measures I prefer are looking at things that are called trimmed averages,” he

By Alicia Wallace, CNN (CNN) — US consumers are facing the fastest price inflation they’ve seen in three years. It likely hasn’t yet peaked. New data Thursday showed that input costs for American businesses are still rising quite rapidly as the Iran war’s oil shock continues to ripple through the economy. The Producer Price Index,

By Clare Duffy, CNN New York (CNN) — Spotify has removed tens of thousands of phony podcasts promoting illegal online pharmacies, a new investigation has found, after reports from CNN and other news outlets exposed the issue last year. Last May, Spotify said it had removed dozens of podcasts identified by CNN that blatantly promoted

By Brian Stelter, CNN (CNN) — Top CNN journalists vowed to uphold founder Ted Turner’s legacy at a Warner Bros. Discovery event honoring the maverick businessman on Wednesday. The Atlanta gathering of executives, employees and alumni was organized after Turner died last month at the age of 87. Speakers from TNT Sports, Turner Classic Movies

CNN By Brian Stelter, CNN (CNN) — Top CNN journalists vowed to uphold founder Ted Turner’s legacy at a Warner Bros. Discovery event honoring the maverick businessman on Wednesday. The Atlanta gathering of executives, employees and alumni was organized after Turner died last month at the age of 87. Speakers from TNT Sports, Turner Classic

By Marshall Cohen, CNN (CNN) — The Trump administration on Wednesday proposed a set of new federal regulations for prediction markets that appear to largely leave the booming industry intact. Importantly, the new rules would continue to allow most sports-related markets. A large majority of trades on prediction sites like Kalshi and Polymarket comes from

By Samantha Delouya, CNN (CNN) — For years, many first-time buyers saw fixer-uppers as one of the few affordable ways into homeownership: buy a cheaper house, renovate it over time, and build equity along the way. But recently, that calculation has become more complicated. Renovation costs have climbed as inflation, tariffs and construction labor shortages

By Alicia Wallace, CNN (CNN) — Annual inflation rose to a three-year-high of 4.2% in May, underscoring how elevated energy prices are rippling through the US economy, according to new data from the Bureau of Labor Statistics. Prices rose 0.5% on a monthly basis, driven higher by the US-Israeli war with Iran, the latest 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