Money

By Elisabeth Buchwald, CNN (CNN) — While many economists are saying the risk of an imminent recession has diminished since China and the United States agreed to lower tariffs earlier this week, JPMorgan Chase’s CEO, Jamie Dimon, is still penciling one in. “I wouldn’t take it off the table at this point,” Dimon said in

By Chris Isidore, CNN (CNN) — Engineers at New Jersey Transit are poised to go on strike one minute after midnight Friday morning, a stoppage that would create huge problems for 100,000 daily train commuters, businesses across the New York metropolitan area as well as fans of Shakira and Beyoncé, who will have trouble getting

By Alicia Wallace, CNN (CNN) — US wholesale prices sank in April, logging their biggest monthly drop since Covid stifled the economy, as tariffs put a squeeze on profit margins, according to new data released Thursday. The Producer Price Index, a closely watched measurement of wholesale inflation, showed Thursday that the prices paid to US

By Bryan Mena and Elisabeth Buchwald, CNN (CNN) — In a sign that consumer demand may be fraying around the edges, spending at US retailers slowed sharply in April to 0.1% after a surge of 1.7% in March as shoppers rushed to beat President Donald Trump’s stiff tariffs. The April data was worse than the

By Jordan Valinsky, CNN New York (CNN) — President Donald Trump isn’t pleased with Apple CEO Tim Cook’s plan to manufacture iPhones bound for the United States at newly built plants in India. “I had a little problem with Tim Cook yesterday,” Trump said Thursday in Qatar. “I said to him, ‘Tim, you’re my friend.

By Nathaniel Meyersohn, CNN New York (CNN) — Walmart, the world’s largest retailer, said President Donald Trump’s tariffs are “too high” and it will raise prices on some items as Trump’s global trade war increases the company’s costs. “We will do our best to keep our prices as low as possible. But given the magnitude

By Anna Cooban, Betsy Klein, Elisabeth Buchwald and Rhea Mogul, CNN London (CNN) — President Donald Trump said on Thursday that India has offered to eliminate tariffs on the United States as part of a potential trade deal – but New Delhi soon poured cold water on Trump’s claims, saying negotiations were not complete. “India

By Jordan Valinsky and Samantha Delouya, CNN New York (CNN) — Dick’s Sporting Goods is buying rival Foot Locker in a $2.4 billion deal, marking another major deal that tariff-prone apparel companies are making to future-proof themselves. In an announcement Thursday, Dick’s said the transaction will help the Pittsburgh-based sporting goods store internationally for the

By Matt Egan, CNN New York (CNN) — In early April, Wall Street threw a temper tantrum that would make a toddler proud. Fearing President Donald Trump’s chaotic trade war would ignite a global recession, investors scrambled to dump US assets. The rare simultaneous selloff of both stocks and bonds reflected a serious loss of

By Hadas Gold, CNN (CNN) — Some X users on Wednesday asked Grok – the AI chatbot available through Elon Musk’s social media platform – questions about simple topics like baseball players or videos of fish being flushed down toilets. One user just asked Grok to talk like a pirate. In response, they got replies

By Marshall Cohen, CNN Washington (CNN) — A voting technology firm suing Fox News for defamation over its 2020 election coverage claimed senior corporate executives, including Rupert Murdoch, intentionally destroyed damning evidence in the case, according to court filings. Smartmatic levied the stunning new allegations on Wednesday, alleging in court filings that Fox “orchestrated the

By Marshall Cohen, CNN Washington (CNN) — Fox News lawyers will soon receive new documents that could bolster their defense against Smartmatic’s defamation lawsuit over the 2020 election. Reversing a lower court decision, a New York appeals court ruled Tuesday that Fox News can obtain disputed materials about a separate federal bribery indictment against senior

By Liam Reilly, CNN (CNN) — Max will rebrand once more as HBO Max. Speaking on stage during Warner Bros. Discovery’s Upfront presentation to advertisers, HBO chief executive Casey Bloys announced that the company’s streaming platform, Max, would revert to its previous name, HBO Max. WBD executives emphasized that the move is an attempt to

By Vanessa Yurkevich, CNN New York (CNN) — US ports are facing a dramatic slowdown in cargo – but they could see the exact opposite in a matter of weeks. Starting Wednesday, cargo leaving China bound for the United States will carry a 30% tariff rate – a reduction from the higher 145% tariff that