CNN – Business/Consumer

By John Towfighi, CNN New York (CNN) — The Treasury Department made a surprise move Wednesday after bond yields hit their highest levels in almost two decades, doubling its planned purchases of longer-term bonds and easing pressure on the market. Bonds rallied, driving yields lower, after the announcement, providing some relief after a sell-off earlier

By Jordan Valinsky, CNN New York (CNN) — Columbia House, a pioneer of subscription music before streaming, is shutting down after seven decades in business. A widely reported statement appeared on its website saying the company is closing on September 15 has been removed, but a customer service representative confirmed to CNN by phone that

By Nathaniel Meyersohn, CNN New York (CNN) — Conventional wisdom says that American consumers are struggling and they’re hunting for the lowest prices to save money. But the K-shaped economy is narrowing, and a growing number of Americans have moved up the income ladder. They actually have more money to spend and are being choosy

By Matt Egan, CNN New York (CNN) — Oil prices are once again uncomfortably high, but the bigger problem is lurking just beneath the surface. What initially began as an oil supply shock caused by the Strait of Hormuz blockage is morphing into a fuel supply crisis. Refineries face a perfect combination of war and

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump late Tuesday postponed his threat of a 50% tariff on a wide range of Canadian goods that was set to take effect at midnight and would have affected roughly $20 billion worth of imports. “We’ve come to a deal with Canada,” Trump told reporters Wednesday morning

By John Liu, CNN (CNN) — Doomscrolling on an iPhone, firing endless questions at ChatGPT, or streaming a 4K film on Netflix on your laptop – behind these modern life conveniences lies a high-stakes contest between two Asian technology powers. For decades, South Korea and Taiwan have been locked in a cut-throat battle for supremacy

By Samantha Delouya, CNN (CNN) — The $1.9 billion collapse of subprime auto lender Tricolor last year was fueled by a multiyear fraud involving its executives, the Securities and Exchange Commission alleged in charges announced Tuesday. Texas-based Tricolor, which went bankrupt in September 2025, specialized in loans and car sales to buyers without Social Security

By David Goldman, CNN (CNN) — The battle for control of the Strait of Hormuz has become the focal point of the Iran war. Over the past several months, both Iran and the United States have claimed the upper hand – and the competing rhetoric has caused considerable confusion and doubt. At the moment, however,

By Hadas Gold, CNN (CNN) — OpenAI is unveiling new, stronger security safeguards around its training and testing in light of new model capabilities and a spate of incidents in which artificial intelligence systems hacked into other companies. The company first disclosed in July that during a cybersecurity exam, a combination of its AI agents

By John Towfighi, CNN New York (CNN) — Investors’ concerns over issues like inflation and hefty government deficits, plus more competition from corporate bonds, are driving a global bond market sell-off, pushing up borrowing costs for governments and everyday people alike. The 30-year US Treasury yield on Tuesday hit its highest level since 2007, rising

By Chris Isidore, CNN (CNN) — Did you ever fly on Spirit Airlines? Or work there? Or send an email to someone who worked there? Then your information will soon be feeding Google’s artificial intelligence model. The discount airline halted all operations in May, and it’s been selling off its remaining assets through the bankruptcy

By Brian Stelter, CNN (CNN) — Disney is going to court to defend its ABC television stations from the Trump administration’s pressure campaign. On Tuesday, the media company filed a lawsuit in federal court alleging that Trump’s FCC is violating its First Amendment rights. The administration “has waged a retaliatory campaign against ABC for a

By Clare Duffy, CNN New York (CNN) — Meta’s business relies on hooking young people and exploiting their data and attention, a lawyer for a group of state attorneys general argued in opening statements for the latest blockbuster trial against the social media giant on Tuesday. The trial could be Meta’s most consequential legal fight

By Clare Duffy, CNN New York (CNN) — OpenAI is rolling out a new “ChatGPT for Teens” experience that it says will provide additional safety protections for teen users. The move comes as OpenAI faces a string of lawsuits alleging that inappropriate conversations with ChatGPT contributed to the harm or deaths of young people. The

By John Liu, CNN (CNN) — Shares of the world’s largest humanoid robot maker by sales Unitree jumped more than 600% in its trading debut in Shanghai on Wednesday, in a testament to its status as the poster child of China’s robotic advancement. Having captured global attention with its dancing and kung-fu fighting androids, Unitree

By Ramishah Maruf, Matt Egan, CNN New York (CNN) — Family drama is swirling around the sale of the Los Angeles Lakers. Jeanie Buss, the controlling owner and CEO of the storied basketball organization, is opposing the sale of the family’s remaining 17.8% stake in the team to former Disney CEO Bob Iger and venture

By Matt Egan, CNN New York (CNN) — Regulators appointed by President Donald Trump are allowing the Trump family’s flagship cryptocurrency venture to become a bank, a move that is alarming ethics watchdogs and some lawmakers. World Liberty Financial, a crypto firm Trump and his sons launched in 2024, announced late Friday that it received

By Amarachi Orie, CNN (CNN) — A bespoke model of Ferrari’s first-ever fully electric car, the Luce, has sold for $40 million, breaking the record for the most expensive new car ever sold at auction. The high bid for the tailor-made Ferrari Luce “Chassis 0” comes just months after the Italian luxury sports car maker’s

By Samantha Delouya, CNN (CNN) — Just a few years ago, San Francisco was the national symbol for post-pandemic urban decline. Now, fueled by the artificial intelligence boom, the Golden City and its suburbs are quickly becoming the hottest housing market in the country. Flush with cash — and highly valued stock options — tech