Money

By Alicia Wallace, CNN (CNN) — US consumers continued to spend in June, powering the economy in the process, despite tariff-related price hikes becoming more present on store shelves and online. Consumer spending rose 0.3% from May, when spending was flat, according to Commerce Department data released Thursday. Adjusted for inflation, spending ticked up 0.1%.

By Alicia Wallace, CNN (CNN) — The US job market seems to have chugged along for the first half of this year — but the risk is rising that employment growth is running out of steam. The July jobs report, due for release at 8:30 a.m. ET Friday, is expected to show a net gain

By Elisabeth Buchwald, CNN (CNN) — For months President Donald Trump has been slapping higher tariffs on practically every country’s exports to the United States, citing emergency economic powers. Now, just as he’s about to enact a new round of tariffs, a federal appeals court could render them void. Oral arguments began Thursday for an

By John Liu, CNN (CNN) — Just a few years ago, Samsung Electronics stood as a leading force in the global semiconductor race, dominating one chip sector and eyeing Taiwan’s TSMC in the battle for supremacy in another. But recent stumbles – including its failure to capitalize early on the artificial intelligence boom – has

By Elisabeth Buchwald, CNN (CNN) — US President Donald Trump announced a new trade deal with South Korea, which calls for 15% tariffs on goods from there, after the country scrambled to secure an agreement ahead of the Friday deadline. “The Deal is that South Korea will give to the United States $350 Billion Dollars

By Clare Duffy, CNN New York (CNN) — If Meta investors had concerns about the company’s huge spending on artificial intelligence infrastructure and talent — and its ambitious “superintelligence” goal — they’re likely to be assuaged by its blockbuster earnings report on Wednesday. The results, as one analyst put it, indicates that “AI is becoming

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve on Wednesday kept interest rates unchanged for the fifth consecutive meeting as it remains under intense pressure from President Donald Trump and his allies to lower borrowing costs. The central bank left its benchmark lending rate at a range of 4.25% to 4.5%, where it

By Phil Mattingly, Kit Maher, CNN (CNN) — US President Donald Trump is ratcheting up the pressure on India, calling into question the prospects of a deal with a key US trading partner just days before his tariff deadline. In social media posts Wednesday, Trump sharply attacked India’s trade barriers and directly targeted its sustained

By Bryan Mena, CNN Washington (CNN) — The US economy expanded sharply in the second quarter as businesses dialed back on imports after stocking up earlier in the year to get ahead of President Donald Trump’s tariffs. But a look under the hood shows an economy that’s sputtering. Gross domestic product, which captures all the

By Jordan Valinsky, CNN New York (CNN) — Starbucks is shutting down its pick-up only store model just six years after introducing the concept, because they no longer mesh with the struggling coffee chain’s overall strategy. “We found this format to be overly transactional and lacking the warmth and human connection that defines our brand,”

By Phil Mattingly, CNN (CNN) — President Donald Trump said he didn’t want to make things personal as he stood next to Federal Reserve Chair Jerome Powell on a tour of the Fed’s $2.5 billion renovation last week. That brief respite in Trump’s relentless rhetorical war on his favorite economic foil will almost certainly expire

CNN, POOL By Phil Mattingly, CNN (CNN) — President Donald Trump said he didn’t want to make things personal as he stood next to Federal Reserve Chair Jerome Powell on a tour of the Fed’s $2.5 billion renovation last week. That brief respite in Trump’s relentless rhetorical war on his favorite economic foil will almost

By Jordan Valinsky, CNN New York (CNN) — International House of Pancakes, a.k.a. IHOP, is leaning into the first word of its name and jumping on a global viral trend that is as lavish as it is expensive. The chain is capitalizing on the “Dubai Chocolate” trend, which has tantalized TikTok users over the past

By Jordan Valinsky, CNN New York (CNN) — Despite being owned by different companies, Oreo and Reese’s are bowing to the fan’s demands and releasing a sweet collaboration. Oreo, owned by Mondelēz International, and Reese’s, part of the Hershey Company, are introducing two new treats that combine flavors from both snacks. Team ups between rival

By Hilary Whiteman, CNN Brisbane, Australia (CNN) — Australia has picked a fight with the world’s largest video platform by backtracking on an earlier promise to exclude YouTube in its social media ban for children under 16. The Labor government said Wednesday the site, which is owned by Google’s parent company Alphabet, will be subject

By David Goldman, CNN (CNN) — President Donald Trump on Tuesday threatened to raise tariffs on Indian imports as high as 25% if the allied nations cannot complete a long-sought trade agreement. “They are going to pay 25%,” Trump said. When asked by a reporter if India would pay tariffs of 20% to 25%, Trump

By Elisabeth Buchwald, CNN (CNN) — Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a resolution to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies. But President Donald Trump’s trade advisers and their Chinese counterparts sounded a hopeful

By Jordan Valinsky, CNN New York (CNN) — Procter & Gamble, the maker of several household staples including Tide detergent and Charmin toilet paper, is hiking prices because of President Donald Trump’s tariffs. The company revealed in Tuesday’s earnings call that its profits will take a $1 billion hit because of tariffs, a larger cost