Money

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump is trying to make your hamburger cheaper, but his plan may not put much of a dent at the supermarket register. Last week, Trump signed an executive proclamation allowing 300,000 metric tons of beef to enter the US duty-free for 90 days starting on September 1.

By Marshall Cohen, CNN (CNN) — A federal appeals court ruled Friday that states can regulate prediction markets like gambling, dealing a major blow to the booming industry. There are still related lawsuits pending across the country, and legal experts believe the matter will ultimately be settled by the Supreme Court. But Friday’s ruling from

CNN By Marshall Cohen, CNN Washington (CNN) — Young adults between 18 and 21, who are legally barred from most gambling in the US, have traded an estimated $5.4 billion so far this year on the Kalshi prediction market, according to a new CNN analysis. On prediction sites, which have exploded in popularity this year,

By Marshall Cohen, CNN Washington (CNN) — Young adults between 18 and 21, who are legally barred from most gambling in the US, have traded an estimated $5.4 billion so far this year on the Kalshi prediction market, according to a new CNN analysis. On prediction sites, which have exploded in popularity this year, users

By Bryan Mena, CNN Washington (CNN) — Inflation is the Federal Reserve’s biggest problem, but investors are going to have to figure out for themselves when officials will step in, Chairman Kevin Warsh said Friday in remarks prepared for his speech at Jackson Hole, Wyoming. The US economy is at “full employment,” Warsh said in

By Liam Reilly, CNN (CNN) — Three staffers at Stars and Stripes, the military publication, sued the Pentagon and top officials on Thursday. The trio, including the outlet’s editor-in-chief, claimed they were illegally pushed out over personal statements protected under the First Amendment. The Pentagon last week fired Erik Slavin, the outlet’s editor-in-chief, Max Lederer,

By Brian Stelter, CNN (CNN) — Outgoing White House press secretary Karoline Leavitt has been invited to visit ABC’s “The View” as a guest. The no-brainer booking move was immediately sensationalized by the Daily Mail this way: “Karoline Leavitt in secret talks to join TV’s most controversial show.” Technically that’s true — a guest invite

By John Towfighi, CNN New York (CNN) — Big Tech, once the market leader, is being overshadowed by gains from the new stars of the artificial intelligence boom: semiconductor chipmakers. Nvidia shares (NVDA) climbed almost 9% Thursday after strong earnings in which the chipmaker not only doubled its sales from a year ago, but also

By Clare Duffy, CNN New York (CNN) — Meta on Wednesday agreed to make sweeping changes to its platforms as part of an $18 billion settlement with dozens of states over claims its platforms contributed to a youth mental health crisis. Regulators and online safety advocates called it a watershed moment, and both Meta and

By Rachel Siegel, CNN (CNN) — First came “9 to 5.” Then came the business empire, rooted in the place Dolly Parton called home. Parton, who died Tuesday, was instantly memorialized for her country music fame, glitzy glam and humanitarian touch. At The Old Mill Restaurant in East Tennessee, Tim Fulton was in his office,

By Clare Duffy, Ramishah Maruf, John Towfighi, CNN New York (CNN) — Nvidia’s earnings beat expectations and its revenue doubled from a year ago, but it was the potential for future growth that excited investors. The chipmaker has seen soaring revenue sitting at the head of the AI boom. The company earned $96.2 billion in

By Lisa Eadicicco, CNN (CNN) — Apple’s new CEO is about to have his first big moment in the spotlight. The tech giant announced it will hold an event on September 9, when it’s expected to reveal the biggest-ever change to its smartphone lineup: the first foldable iPhone. It’s the company’s first major product launch

By Chris Isidore, CNN (CNN) — Microsoft co-founder Bill Gates argued on Wednesday that artificial intelligence needs significant limits or else the harm to humans will outweigh any potential good. “AI will either be the greatest equalizer ever invented, or the worst source of injustice,” he said in a 6,000-word essay, entitled “The turbulent AI

By Clare Duffy, CNN New York (CNN) — Meta said Wednesday it has agreed to pay about $18 billion as part of a settlement to resolve a multistate lawsuit claiming that it intentionally designed addictive platforms that harmed young people’s mental health. The settlement ends a landmark legal battle for the social media giant. As

By Clare Duffy, CNN New York (CNN) — Many Americans feel growing unease about the proliferation of cameras — in people’s hands, on homes and businesses, in public spaces for police use — that seem to be capturing our every move, sparking backlash, protests and users ditching or destroying devices. Now Ring, one of the

By Alicia Wallace, CNN (CNN) — US consumers reined in their spending in July as inflation remained stubbornly high, new Commerce Department data showed Wednesday. Consumer spending, when adjusted for inflation, was flat from the month prior, a sharp slowdown from a 0.4% gain in June, according to the report. The Personal Consumption Expenditures price

By John Towfighi, CNN New York (CNN) — Never doubt the power of the $30 trillion US Treasury market. It was robust enough to push back on the Treasury Department’s recent intervention while captivating Wall Street. Now investors are wondering whether the bond market’s unease is strong enough to disturb a booming stock market. Bond

By Matt Egan, CNN Iran’s status as an economic outcast is nothing new. It’s been a pariah in the eyes of much of the world for literally decades. Over the years, the United States has slapped Iran with countless sanctions targeting its banking system, shipping companies, oil industry and military. That’s why Operation Economic Outcast,

By Chris Isidore, CNN (CNN) — It’s still August. Temperatures are in the 90s for much of the country. Labor Day, America’s unofficial end of summer, is nearly two weeks away. In many regions of the country school has yet to start. But Starbucks wants you to think fall. On Tuesday, the chain rolled out