CNN – Business/Consumer

By Matt Egan, CNN New York (CNN) — President Donald Trump’s sweeping tariff regime is already reshaping global trade and spiking government customs revenue. But these historic import taxes could also push more Americans into poverty, according to new research. An analysis published by The Budget Lab at Yale on Tuesday finds Trump’s tariff hikes

By Jordan Valinsky, CNN New York (CNN) — Larry Ellison briefly became the world’s richest person Wednesday before ending the day just $1 billion shy of the lead. The uber-billionaire is still on the verge of becoming the world’s richest person, according to the Bloomberg Billionaires Index, growing his net worth $88 billion Wednesday, briefly

By Elisabeth Buchwald, CNN (CNN) — The Department of Labor is initiating an investigation into how the Bureau of Labor Statistics collects and reports “closely watched economic data,” according to a letter the department’s Assistant Inspector General for Audit, Laura Nicolosi, sent to Acting BLS Commissioner William Wiatrowski on Wednesday. This comes one day after

By Bryan Mena, CNN Washington (CNN) — President Donald Trump’s nominee to the Federal Reserve’s powerful board may soon work alongside the same central banker the president tried to fire weeks ago, in what would be a stunning milestone in Trump’s ongoing bid to bend the historically independent Fed to his will. In a Tuesday

By Ana Nicolaci da Costa, CNN London (CNN) — Novo Nordisk, the maker of weight loss drug Wegovy, will lay off about 9,000 people as it grapples with rising competition in the obesity market. The Danish company has been battling it out with US rival Eli Lilly, with each developing newer medicines to turbocharge weight

By Jordan Valinsky, John Towfighi, CNN New York (CNN) — Elon Musk briefly lost his title of “world’s richest person” title to Oracle cofounder Larry Ellison. Ellison’s wealth jumped by $89 billion to $383.2 billion on Wednesday after Oracle’s stunningly strong earnings report Tuesday evening, according to Bloomberg. Oracle (ORCL) reported surging demand for its

By Chris Isidore, CNN (CNN) — The Hyundai battery plant in Georgia that saw 475 workers arrested in immigration raid last week is just the latest example of President Donald Trump’s policies clashing with his goals for the world’s largest economy. The Trump administration’s immigration enforcement efforts have had widespread impacts on the construction industry,

By Jordan Valinsky, CNN New York (CNN) — Cracker Barrel announced that it’s suspending the renovations of its restaurants following a disastrous logo rollout that sent shares lower. “You’ve shared your voices in recent weeks not just on our logo, but also on our restaurants,” the chain said on X. “If your restaurant hasn’t been

By Alicia Wallace, CNN (CNN) — The American jobs market has been running in a much lower gear than previously thought, according to a preliminary report released Tuesday. The US economy added about 911,000 fewer jobs than initially estimated for the year ending in March, the Bureau of Labor Statistics report suggests. If this were

By Jordan Valinsky, CNN New York (CNN) — Ben Cohen and Jerry Greenfield, the cofounders of Ben & Jerry’s ice cream, are fighting with the company’s parents about the independence of the brand they created nearly 50 years ago. The pair, which no longer controls the company they created, wrote an open letter Tuesday addressed

By Jordan Valinsky, CNN New York (CNN) — Girl Scouts of the USA is debuting a new cookie for its upcoming season. The organization announced Tuesday that “Exploremores,” a Rocky Road-inspired cookie, is being added to the lineup when its annual sales begin in January. Like the Girl Scouts’ other cookies, which include the popular

By Matt Egan, CNN New York (CNN) — President Donald Trump has promised his high tariffs will inspire an American manufacturing renaissance. Yet so far his controversial experiment has failed to inspire a jobs boom. Not only is hiring weak, but the industries most exposed to tariffs have been shedding workers – exactly the opposite

By Clare Duffy, CNN New York (CNN) — Apple announced the first major redesign of the iPhone in years on Tuesday when it confirmed the launch of a new, thinner model called the iPhone Air. CEO Tim Cook called it the “biggest leap ever for iPhone.” That was one of a number of product upgrades

By Brian Stelter, Hadas Gold, CNN (CNN) — Rupert Murdoch’s chosen son Lachlan will remain in charge of the family business, forestalling a predicted challenge from his siblings over the political bent of the conservative media empire. Instead, three siblings are exiting the business altogether — in an ending worthy of a dramatic series finale.

By Samantha Delouya, CNN (CNN) — Buying a home has become increasingly pricey in the past few years. Now, Zillow has put a staggering number to those higher costs: America’s housing market has climbed 57% since 2020, to a record $55 trillion. That means that in just five years, the US housing market’s value has

By Jeanne Sahadi, CNN (CNN) — As part of his effort to gain control over the Federal Reserve, President Donald Trump is attempting to fire Fed Governor Lisa Cook based on allegations that she may have committed mortgage fraud. No charges have been filed against Cook as of this writing. But just before Labor Day,