Biz/Tech

By Alicia Wallace, CNN (CNN) — A car-buying frenzy, stoked by tariff fears, drove US consumer spending in March to its biggest monthly gain in more than two years, new data showed Wednesday. Consumer spending leapt 0.7% from February, according to a Commerce Department report released Wednesday that showed Americans shelled out last month for

By John Towfighi, CNN New York (CNN) — April was one of the wildest months in recent memory for markets, capped off by a key data release that showed the economy shrank last quarter for the first time in years. After tumbling Wednesday morning, the S&P 500 and the Dow gradually clawed back losses and

CNN By Chris Isidore, CNN (CNN) — Ford CEO Jim Farley announced Wednesday on CNN that the automaker is extending its “employee pricing” offer to car buyers for another month, through July 4, to encourage sales to consumers nervous about rising prices because of new tariffs on imported cars and auto parts. Farley spoke with

By Chris Isidore, CNN (CNN) — Ford CEO Jim Farley announced Wednesday on CNN that the automaker is extending its “employee pricing” offer to car buyers for another month, through July 4, to encourage sales to consumers nervous about rising prices because of new tariffs on imported cars and auto parts. Farley spoke with CNN’s

By Bryan Mena, CNN Washington (CNN) — The US economy just had its worst quarter since 2022 as President Donald Trump’s significant policy changes unnerved consumers and businesses. Gross domestic product, which measures all the goods and services produced in the economy, registered at an annualized rate of -0.3% in the first quarter, the Commerce

By Clare Duffy, CNN New York (CNN) — Companion-like artificial intelligence apps pose “unacceptable risks” to children and teenagers, nonprofit media watchdog Common Sense Media said in a report published Wednesday. The report follows a lawsuit filed last year over the suicide death of a 14-year-old boy whose last conversation was with a chatbot. That

By John Liu, CNN Hong Kong (CNN) — China’s factory activity contracted at its fastest pace in 16 months in April, as steep US tariffs took a heavy toll on the manufacturing sector, adding urgency to Beijing’s efforts to roll out fresh economic stimulus. The manufacturing Purchasing Managers’ Index (PMI) fell to 49.0 in April,

By Brian Stelter, CNN (CNN) — The Trump administration has sparked another fight against public media. In emails from the White House, three board members of the Corporation for Public Broadcasting (CPB) were told on Monday that they were “terminated,” effective immediately, “on behalf of President Donald J. Trump.” In response, the corporation filed a

By Allison Morrow, CNN (CNN) — Billionaire investor Ray Dalio believes it is “too late” to combat the economic fallout of Trump’s tariffs and says the world economic order, with the US at the center, is breaking down. “Based on many of my indicators,” he wrote in a social media post, “it appears that we

By David Goldman, CNN (CNN) — In a sharp rebuke of President Donald Trump’s trade war, China’s Foreign Ministry posted to social media a striking video that calls on the international community to stand up to America’s “bully” leader. “Bowing to a bully is like drinking poison to quench thirst – it only deepens the

By Reuters (CNN) — Facebook parent Meta Platforms on Tuesday launched a separate app for its Meta AI assistant, similar to those offered by Microsoft-backed OpenAI and Alphabet’s Google. The standalone app comes as Meta looks to boost the AI assistant’s usage, apart from being available within the company’s family of platforms – WhatsApp, Instagram,

By Chris Isidore, CNN (CNN) — UPS will cut 20,000 jobs this year, about 4% of its global workforce, the company said Tuesday. But UPS added the decision is unrelated to tariffs and is instead due to increased use of technology and a previously announced plan to trim its Amazon business. UPS in January announced

CNN By Alayna Treene, Betsy Klein and Jordan Valinsky, CNN New York (CNN) — The White House took aggressive aim at Amazon, with President Donald Trump putting in a call to Amazon founder Jeff Bezos Tuesday morning, after the company considered displaying the added cost of tariffs on certain items. Trump called Bezos to complain

By Alayna Treene, Betsy Klein and Jordan Valinsky, CNN New York (CNN) — The White House took aggressive aim at Amazon, with President Donald Trump putting in a call to Amazon founder Jeff Bezos Tuesday morning, after the company considered displaying the added cost of tariffs on certain items. Trump called Bezos to complain about

By Bryan Mena, CNN Washington (CNN) — Americans continue to grow uneasy about the economy as President Donald Trump wages an erratic trade war that could send US inflation rising and even trigger a recession. Consumer confidence sank 7.9 points in April to a reading of 86, the Conference Board said in its latest survey

By John Towfighi, CNN New York (CNN) — The US stock market just recorded its worst first 100 days of any presidential term since President Gerald Ford assumed office in 1974. The stock market initially surged higher after President Donald Trump’s reelection in November on expectations for a pro-business boom. Yet 100 days into Trump’s

By Bryan Mena, CNN Washington (CNN) — President Donald Trump’s major, abrupt policy shifts likely slowed the US economy sharply in the beginning of the year — for the worst quarter perhaps since the Covid-19 pandemic — as consumers and businesses fretted about massive new tariffs. The Commerce Department is set to release its initial

By John Liu and CNN staff Hong Kong (CNN) — Walmart and Target have resumed business with some of their Chinese suppliers, after pausing orders for a few weeks due to uncertainties over the imposition of steep US tariffs, two Chinese factories have told CNN. The resumption came days after a meeting last week between

CNN, POOL By Elisabeth Buchwald and Chris Isidore, CNN New York (CNN) — President Donald Trump signed an executive order and a proclamation on Tuesday to​ ease auto tariffs, the latest abrupt shift in a rapidly changing tariff policy that has left businesses scrambling to keep up. The 25% tariff on imported cars will continue,

By Elisabeth Buchwald and Chris Isidore, CNN New York (CNN) — President Donald Trump signed an executive order and a proclamation on Tuesday to​ ease auto tariffs, the latest abrupt shift in a rapidly changing tariff policy that has left businesses scrambling to keep up. The 25% tariff on imported cars will continue, and a

By Jeanne Sahadi, CNN (CNN) — US stocks melted down and market volatility soared after President Donald Trump announced his across-the-board punitive tariffs regime on April 2. While international stocks got hurt too, overall they’ve done better. Sure, US stocks were considered overvalued coming into 2025. But the loss of trillions of dollars over a

By Jordan Valinsky, CNN New York (CNN) — A former Disney employee who hacked into the company’s servers to alter its restaurant menus, including falsifying allergen information and printing profane language, has been sentenced to three years in prison. Michael Scheuer, a Florida resident, was sentenced last week in federal court and ordered to pay

By David Goldman and Matt Egan, CNN (CNN) — President Donald Trump on Sunday night reiterated an extraordinary ambition he and members of his administration have voiced from time to time throughout his young second term: One day, Americans won’t pay any more income tax, and you’ll have Trump’s tariffs to thank for it. “We’re

By Jordan Valinsky, CNN New York (CNN) — CBS News’ ‘“60 Minutes” addressed the surprise exit of its longtime executive producer Bill Owens on Sunday’s program, with anchor Scott Pelley saying that “no one is happy” about his departure. In an extraordinarily blunt final segment of the news magazine show, Pelley revealed that CBS’ parent

By Olesya Dmitracova, CNN London (CNN) — DHL will resume global shipments from businesses to American consumers worth more than $800 after a suspension earlier this month, the company said Monday. Earlier in April, DHL temporarily suspended business-to-consumer (B2C) shipments of that customs value to the United States, starting from April 21 and until further