Money

By Alicia Wallace, CNN (CNN) — The economy has been resilient, the job market healthy and consumers keep spending, but more Americans are becoming financially overextended — especially on their credit cards. New data released Tuesday by the Federal Reserve Bank of New York showed that as household debt balances grew during the first quarter,

By Clare Duffy, CNN New York (CNN) — Amazon’s biggest moneymaker, Amazon Web Services, is getting a new leader. Adam Selipsky, the chief executive of the cloud computing unit, will step down from his role next month, the company announced Tuesday. Selipsky, who first joined AWS in 2005 — before its services were even publicly

By Hadas Gold, CNN (CNN) — Sam Feist, CNN’s longtime Washington bureau chief and senior vice president, is departing the network to lead the nonprofit public affairs channel C-SPAN, the networks announced Tuesday. Feist has been an integral part of CNN’s Washington operations for nearly two decades, previously serving as CNN’s political director and vice

By Alicia Wallace, CNN (CNN) — Americans already contending with persistent and stubbornly high inflation just got more unwelcome news on Tuesday: There are more price hikes likely coming down the pike. Wholesale inflation picked up in April to its highest rate in a year, according to Bureau of Labor Statistics data released Tuesday. The

By Oliver Darcy, CNN New York (CNN) — Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. Famed New York Times journalist Nicholas Kristof on Tuesday will release his memoir, “Chasing Hope: A Reporter’s Life.” In the 432-page work, which I was provided an advanced

By Wayne Chang and Mark Thompson, CNN Taipei/London (CNN) — China has vowed to resolutely defend its interests in the face of huge new US tariffs and warned that the trade barriers would affect the wider relationship between the two economic superpowers. President Joe Biden on Tuesday announced that tariffs on $18 billion worth of

By Matt Egan, CNN New York (CNN) — If voters return former President Donald Trump to the White House, he’s promised to launch an unprecedented crackdown on immigration and even conduct mass deportations. Trump recently told Time that he would aim to deport 15 million to 20 million people, perhaps by using the National Guard.

By Samantha Delouya, CNN (CNN) — On Monday, Melinda French Gates announced her resignation from the Bill and Melinda Gates Foundation, officially ending one of the world’s leading philanthropic partnerships. If you ask Warren Buffett, the foundation is losing its smarter half. In a 2008 Fortune profile, the Berkshire Hathaway CEO said French Gates helped

By Brad Lendon, CNN Seoul, South Korea (CNN) — Ghost Shark and Manta Ray protect the undersea realm. Sounds like the plot of a future Marvel movie, but in actual fact, it’s what could be the future of Pacific naval defenses. Ghost Shark and Manta Ray are the names of prototype uncrewed underwater vehicles –

By Liam Reilly, CNN (CNN) — Rudy Giuliani was suspended from New York City radio station WABC and his talk show canceled after he flagrantly ignored orders not to discuss false 2020 election conspiracy theories, the station’s owner said Monday. Giuliani, the former New York City mayor and Donald Trump lawyer who has hosted a daily

By Peter Valdes-Dapena, CNN (CNN) — Cruise, General Motors’ autonomous driving technology subsidiary, will start taking its self-driving vehicles out on public roads again this week. The company had stopped testing last October following an incident in San Francisco in which a pedestrian was badly injured. Cruise’s vehicles will begin driving again in Phoenix, Arizona,

By Pete Muntean, CNN (CNN) — Major airlines have filed a lawsuit against the federal government over new rules that would require carriers to disclose all airline fees — including those for checked and carry-on bags as well as change and cancelation fees — up front. The suit was filed Friday in the U.S. Fifth

By Clare Duffy, CNN New York (CNN) — ChatGPT is about to become a lot more useful. OpenAI on Monday announced its latest artificial intelligence large language model that it says will make ChatGPT smarter and easier to use. The new model, called GPT-4o, is an update from the company’s previous GPT-4 model, which launched

By David Goldman, CNN New York (CNN) — Melinda French Gates, one of the world’s preeminent philanthropists, said Monday she would resign as co-chair of the Bill & Melinda Gates Foundation that she has helped lead since 2000. The foundation has made nearly $78 billion worth of grant payments in the nearly 25 years since its

By Matt Egan, CNN New York (CNN) — US officials worry the next recession could be intensified by a cascading series of failures in the mortgage industry caused by crashing home prices, frozen financial markets and soaring delinquencies. The US Financial Stability Oversight Council, a SWAT team of financial regulators formed after the 2008 crisis,

By Anna Cooban, CNN London (CNN) — More than a year after Shein promised to tackle excessive working hours in its supply chain, a new report suggests the Chinese fast-fashion company still has a problem. Workers in some factories supplying Shein are still working 75-hour weeks, according to an investigation by Public Eye, a Swiss human

By Krystal Hur, CNN New York (CNN) — The surprise social media return of the trader who helped ignite the meme stock frenzy in 2021 sent GameStop shares skyrocketing Monday. The surge had nothing to do with the troubled company’s fundamentals — and everything to do with a cartoon of a gamer that the trader,