Biz/Tech

By David Goldman, CNN (CNN) — Ambassador Alan Wolff says President Donald Trump’s novel implementation of America’s tariff law is illegal and runs counter to how Congress intended the presidential power to be used.Wolff would know. He wrote the law.“I have a sense of ownership of the statute,” said Wolff, who served as the Nixon

By Samantha Delouya, CNN (CNN) — As interest rates have stayed elevated for the last few years, a growing share of homebuyers turned to adjustable-rate loans (ARMs). These loans typically offer some breathing room from high rates by providing a lower fixed rate for five, seven, or 10 years before resetting with market rates.With the

By Samantha Delouya, John Towfighi, CNN (CNN) — Mortgage rates reached a grim milestone this week, topping 7% for the first time since January 2025 and reaching their highest level during either of Donald Trump’s presidential terms.The average 30-year fixed mortgage rate climbed to 7.03% this week, up from 6.95% last week, according to data

By Jordan Valinsky, CNN New York (CNN) — Starbucks is closing approximately 250 locations in the coming days as the coffee chain continues to prune its store count during its turnaround efforts.The affected locations didn’t “deliver the experience we want for customers and partners” or aren’t financial viable, the company said in a statement. In

By Jeanne Sahadi, CNN (CNN) — Like many people, you’d probably love to save more to do … well, everything.But life can be busy and expensive – increasingly so. And your list of financial obligations is already long.Still, taking just a little time to focus on where you’re at financially today versus where you’d like

By John Towfighi, CNN New York (CNN) — The US 30-year Treasury yield rose as high as 5.5% Thursday afternoon, its highest level since 2004, extending a recent sell-off that has seen yields climb around the globe.Bond yields jumped this week, surging to fresh highs for this year. Thursday’s action follows a steep bond sell-off

By Matt Egan, CNN New York (CNN) — President Donald Trump says he wants to ban America’s diesel exports, but his former energy secretary tells CNN this is a “bad idea” that will backfire.“It’s one of those ideas that sounds good on the surface, but when you dig into it, it makes very little economic

By Hadas Gold, Clare Duffy, CNN (CNN) — When AI company Hugging Face was hacked by a swarm of rogue OpenAI agents who had escaped their testing environment, the company’s CEO had many things to say.He called it an unprecedented event – “day one for cybersecurity in the age of agents.”But here’s one thing he

By Jordan Valinsky, CNN AnNew York (CNN) — McDonald’s is spending billions of dollars to boost its franchises, an effort to cement its title as the leader in fast food amid growing competition.The chain announced Wednesday that it will invest $8.5 billion by 2036 on a series of initiatives, including remodeling restaurants, retraining their 2

CNN By Hilary Whiteman, Hadas Gold, Max Saltman, CNN Brisbane, Australia (CNN) — An OpenAI agent hacked into an Australian national healthcare database in the first known case of AI hacking a government network, the country’s prime minister said Wednesday. “The AI agent accessed both public and non-public files” of the country’s Medicare statistics database,

By Lisa Eadicicco, CNN (CNN) — As concerns over AI’s rapid advancement continue to mount, Meta is pushing forward with new AI devices and agents that it believes will one day be essential to everyday life.Meta CEO Zuckerberg and other executives laid out the company’s vision for AI at the tech giant’s Connect event Wednesday,

By Hilary Whiteman, Hadas Gold, Max Saltman, CNN Brisbane, Australia (CNN) — An OpenAI agent hacked into an Australian national healthcare database in the first known case of AI hacking a government network, the country’s prime minister said Wednesday.“The AI agent accessed both public and non-public files” of the country’s Medicare statistics database, and even

By Clare Duffy, CNN New York (CNN) — YouTube CEO Neal Mohan dismissed the idea of joining Meta’s multistate settlement agreement around child safety, saying the video platform already has measures in place to protect young users.“We have invested in making sure that young people are safe on our platform… for a very long time,”

By Hadas Gold, CNN (CNN) — The leaders of two of the world’s top AI companies are usually fierce rivals. But in front of the UN Security Council on Wednesday, they were in agreement: The AI industry needs international standards and cooperation, or risk global security.OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei spoke

By Brian Stelter, Liam Reilly, CNN (CNN) — An Iowa judge has dismissed President Donald Trump’s lawsuit against pollster J. Ann Selzer, her polling company, the Des Moines Register and Gannett.In a written ruling on Wednesday, Judge Scott Beattie of Iowa’s Fifth Judicial District threw out the lawsuit by Trump, Rep. Mariannette Miller-Meeks and former

By John Towfighi, CNN New York (CNN) — The 10-year US Treasury yield surged Wednesday to reclaim its highest level in nearly two decades after new data depicted strong business activity and intensifying inflation concerns.The 10-year yield surged 15 basis points to 5.11%, a fresh high for this year and the highest level since 2007.The

By Liam Reilly, CNN (CNN) — Disney is again raising prices for several streaming subscription tiers, pushing the cost of its ad-free Disney+ and Hulu plans past $20.Disney+ and Hulu’s Premium standalone plans will rise $2.50 to $21.49 each per month, effective immediately for new subscribers, a source familiar with the matter told CNN. Existing

By T.M. Brown, CNN J.C. Bahr-de Stefano, a venture capitalist in New York, wanted a table at 4 Charles Prime Rib earlier this month. The West Village steakhouse is one of the city’s most covetable tables, with spots there on the reservation platform Resy being snapped up within seconds of their release.So Stefano turned to

By Lisa Eadicicco, CNN (CNN) — It’s been a busy afternoon for Pip, the AI agent I’ve been using in Meta’s Muse app.The agent, which Meta launched on September 8, booked a Friday date night and made a packing schedule for my upcoming move. It also emailed a friend about a trip next month and

By Matt Egan, CNN New York (CNN) — President Donald Trump’s escalating trade war with Canada has thus far spared one critical import for American farmers: potash, a crucial fertilizer component and plant nutrient that has virtually no substitute.But that could change as the trade battle lingers and Canadian officials weigh options to retaliate beyond

By Allison Morrow, CNN New York (CNN) — President Donald Trump’s money managers made 1,152 trades on his behalf in July alone, according to his latest financial disclosure Tuesday — an astronomical number relative to his predecessors, and still high by the standard of active traders.The transactions included many companies such as SpaceX and RTX

By Brian Stelter, Liam Reilly, CNN (CNN) — Paramount has cleared the final hurdle in its year-long race to take over Warner Bros. Discovery. Now comes the really hard part.In the coming weeks, Paramount will take control of CNN and scores of other Warner assets like HBO, DC Comics, and the Discovery Channel.Integrating all the

By Sophie Tanno, Lisa Eadicicco, CNN London/New York (CNN) — The bars, theaters and restaurants dotting central London may not seem like a conflict zone. But many venue owners are facing a difficult fight over a new and, some say, potentially dangerous device: smart glasses.The glasses — which can capture video, photos and audio from

By Jordan Valinsky, CNN New York (CNN) — Peloton is launching its cheapest treadmill yet, in the hope that running’s surging popularity will spur sales.The fitness equipment maker announced Tuesday it will soon release a $2,195 treadmill called the Tread Flex. That’s about $1,000 cheaper than its current lineup, and also the company’s first-ever foldable

By Matt Egan, CNN New York (CNN) — Diesel, the most important fuel on the planet, is so expensive that some Republicans want President Donald Trump to stop exporting it to friends and allies.“High diesel prices ARE KILLING FARMERS INCOME,” Republican Sen. Chuck Grassley posted on X last week, calling for an “embargo on diesel