Biz/Tech

By Chris Isidore, CNN (CNN) — Things are undoubtedly bad at Tesla. Its sales are dwindling. Its profits are plunging, as is its share price. There are regular protests outside its showrooms. The Cybertruck is a flop. And somehow, it’s actually a lot worse than that. The 71% drop in net income it just reported

By Samantha Delouya, CNN (CNN) — A few weeks ago, Los Angeles real estate agent Scott Price got the kind of call that’s only happened once before in his two-decade-long career: His buyer was backing out — just two days before closing. To Price, the reason seemed to be a growing uneasiness with the economy.

By Ramishah Maruf, CNN New York (CNN) — Millennials have been through a lot. Many of the generation were young adults when the Great Recession began, and to this day, they struggle to buy homes and pay off student debt. Now these jaded millennials are sharing their wisdom with Gen Z on TikTok, posting preparation

By Nayeli Jaramillo-Plata, CNN (CNN) — In 2017, Christina and Ian Lacey decided to take a chance and leave their stable careers to turn their hobby into a small business. The risk and hard work paid off. The Denver couple started Retuned Jewelry from their home and have seen impressive returns — averaging $360,000 in

By Clare Duffy, CNN New York (CNN) — In 2016, Mark Zuckerberg and his wife, Priscilla Chan, opened a tuition-free school for low-income families in California’s Bay Area, where Meta is headquartered. Created under the couple’s philanthropy, the Chan Zuckerberg Initiative (CZI), the Primary School aimed to combine healthcare and education for students “from birth

By Jeanne Sahadi, CNN (CNN) — No one wants to be audited by the IRS. And, in fact, very few US taxpayers have been in recent years. Less than 1% of all returns filed between 2013 and 2021 had been audited as of the end of fiscal year 2023, according to IRS data. More specifically,

By Bryan Mena, CNN Washington (CNN) — Americans are still dreading a recession and rising inflation, even after President Donald Trump paused his massive tariff hike on dozens of countries. Consumer sentiment plunged 8% in April from the prior month, to a final reading of 52.2, the University of Michigan said in its latest survey

By Elisabeth Buchwald and Nathaniel Meyersohn, CNN New York (CNN) — “Cheap goods” sold on Temu and Shein aren’t as cheap as they were 24 hours ago. On Friday, the two companies raised prices on many goods in advance of new tariffs set to take effect next week. The companies had informed shoppers of the

CNN By David Goldman, CNN (CNN) — President Donald Trump said high tariffs could be here to stay and he’d declare “total victory” if import taxes were as high as 50% a year from now, according to an interview with Time released Friday. Trump has placed historic tariffs on a wide variety of imports, including

By David Goldman, CNN (CNN) — President Donald Trump said high tariffs could be here to stay and he’d declare “total victory” if import taxes were as high as 50% a year from now, according to an interview with Time released Friday. Trump has placed historic tariffs on a wide variety of imports, including a

CNN By David Goldman, CNN (CNN) — Citadel CEO Ken Griffin, a billionaire supporter of President Donald Trump and a megadonor to Republican candidates, had some unusually harsh words for the president about his trade war: It’s hurting America’s standing in the world and eroding the nation’s brand. “The United States was more than just

By Lex Harvey, CNN (CNN) — California has surpassed Japan to become the world’s fourth-largest economy, Gov. Gavin Newsom said, as he warned of the threat posed by President Donald Trump’s tariffs to the tech powerhouse’s fast-growing wealth. The Golden State’s nominal gross domestic product (GDP) reached $4.1 trillion in 2024, according to preliminary data

By John Liu and Nectar Gan, CNN Hong Kong (CNN) — China appears to have quietly rolled back retaliatory tariffs of 125% on some semiconductors made in the US, according to details provided to CNN on Friday by three import agencies in the southern technology hub of Shenzhen, as Beijing tries to soften the blow

By Liam Reilly and Kit Maher, CNN (CNN) — President Donald Trump on Thursday said he will meet with Jeffrey Goldberg, the Atlantic editor-in-chief who, in late March, was accidentally added to a Signal group chat that involved classified information and several top Trump officials. Trump said via Truth Social that he will sit for

By Lisa Eadicicco, CNN New York (CNN) — Motorola on Thursday debuted new versions of its Razr flip phone with artificial intelligence-powered features from its own AI technology as well as that of several companies, including Perplexity, Meta and Microsoft and Google. The announcement comes as Google takes the courtroom after a federal judge found

By Jordan Valinsky, CNN New York (CNN) — Peter Cancro, the founder and CEO of Jersey Mike’s Subs, is stepping back from the leadership position following an $8 billion sale that made him a multibillionaire. The fast-growing sub chain announced Thursday that Cancro will be replaced by Charlie Morrison, the former CEO of Wingstop, beginning

By Jordan Valinsky, CNN New York (CNN) — Exports of American-made spirits hit a record high last year. However, a hangover is about to hit the industry as tariffs threaten to stunt growth, a leading industry group warned. Exports hit a record $2.4 billion in 2024, according to the Distilled Spirits Council of the United

By Jordan Valinsky, CNN New York (CNN) — Jack in the Box plans to close approximately 10% of its locations and is exploring a sale of its Del Taco brand amid a broader overhaul of the fast food chain that is struggling as customers cut back on spending. The 74-year-old chain announced Wednesday that it’s

By David Goldman, CNN (CNN) — Citadel CEO Ken Griffin, a billionaire supporter of President Donald Trump and a megadonor to Republican candidates, had some unusually harsh words for the president about his trade war: It’s hurting America’s standing in the world and eroding the nation’s brand. “The United States was more than just a

By Jordan Valinsky, CNN New York (CNN) — Chicken has quickly become the fast-food menu item of choice for American consumers, putting McDonald’s in a tough spot. Chicken revenue at McDonald’s fell behind the explosive sales at Raising Cane’s, Wingstop and other chicken-centric chains, as well as new entrants like Taco Bell, which all sell

By John Towfighi, CNN New York (CNN) — US stocks soared Wednesday, but the S&P 500 is still trying to climb out of slump instigated by President Donald Trump’s trade war. After hitting a record high in February, the S&P 500 dropped into correction in March as Trump unveiled his plan for tariffs. The benchmark

By Juliana Liu and Nectar Gan, CNN Hong Kong (CNN) — US President Donald Trump has delighted global investors with the possibility of a reduction in tariffs on Chinese imports. But his apparent willingness to de-escalate America’s trade war with the world’s second-biggest economy has been brushed off by government officials in China and ridiculed

By David Goldman, CNN (CNN) — President Donald Trump said Wednesday that he could re-impose “reciprocal” tariffs on some countries in as soon as two or three weeks, a potentially significant re-escalation of the global trade war that has already raised fears of a US and global recession. “In the end, I think what’s going

By David Goldman, CNN (CNN) — President Donald Trump said Wednesday that Federal Reserve Chair Jerome Powell has kept interest rates too high and that he might call the central bank chief. “I haven’t called him. I might call him,” Trump said in an Oval Office executive action signing ceremony Wednesday evening. “I believe he’s

By Ramishah Maruf, CNN New York (CNN) — Twelve states sued the Trump administration Wednesday for “illegally imposing” tax hikes on Americans through tariffs. Trump imposed the tariffs through the International Emergency Economic Powers Act (IEEPA), which gives the president the authority to enact those powers in response to unusual and extraordinary threats. The lawsuit

CNN By Kevin Liptak, Jeff Zeleny and David Goldman, CNN (CNN) — President Donald Trump’s unprecedented tariffs, particularly on China, and recent attacks on Federal Reserve Chair Jerome Powell caused alarm among some of his top advisers and America’s biggest CEOs, who warned of financial chaos and store shelves that could go bare, people familiar

By Clare Duffy, CNN New York (CNN) — Many of America’s wealthiest business leaders have lost millions, if not billions, of dollars in net worth since the start of the year, as President Donald Trump’s policies hit markets. But some might have lost even more if they hadn’t offloaded millions of dollars’ worth of stock