Money

By Alicia Wallace, CNN (CNN) — Inflation remained stubbornly high last month, but it hasn’t stopped Americans from spending. The Personal Consumption Expenditures price index — a closely watched inflation gauge favored by the Federal Reserve — accelerated to 2.7% for the year ended in March, according to data released Friday by the Commerce Department.

By Matt Egan and Ramishah Maruf, CNN New York (CNN) — College campuses across America have been shaken by unrest that has resulted in clashes with police, shut down some classrooms and captured the attention of the nation. Although much of the initial focus has been on antisemitic incidents and how university officials and police

By Laura He, CNN Hong Kong (CNN) — TikTok’s Chinese parent company ByteDance said Thursday that it has no plans to sell the social media platform, its first official response on the fraught issue since President Joe Biden signed a bill that could lead to a nationwide ban of the wildly popular app. “Foreign media

By Elisabeth Buchwald, CNN New York (CNN) — For the past few years, the US economy has been growing at a pace that seemed too good to be true. So, at first glance, Thursday’s gross domestic product report showing the US economy grew at an annualized rate of 1.6% in the first quarter of this

By Clare Duffy, Catherine Thorbecke and Samantha Murphy Kelly, CNN New York (CNN) — Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell. All it had to do was to hand out billions of dollars to investors. The tech

By Jeanne Sahadi, CNN New York (CNN) — Less than 24 hours after the Federal Trade Commission issued a final rule this week banning employers from using noncompete agreements in the United States, the US Chamber of Commerce and the Business Roundtable filed a lawsuit against the agency in federal court in the Eastern District

By Nathaniel Meyersohn, CNN New York (CNN) — When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees. Now, some of her own students and professors, as well as the speaker of the House of Representatives, are calling on her

By Alicia Wallace, CNN (CNN) — Despite a weaker-than-expected first-quarter GDP reading, the US economy is “firing on all cylinders” and inflation is on a path toward a more normal level, US Treasury Secretary Janet Yellen said Thursday in an interview with Reuters. Yellen on Thursday was interviewed by Reuters’ editor in chief Alessandra Galloni

By Brian Fung, CNN Washington (CNN) — TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators. The program at issue appears within TikTok Lite, a less data-intensive version of TikTok’s main app, and which contains a feature that rewards users with cash for

By Brian Fung, CNN Washington (CNN) — The US government on Thursday banned internet service providers (ISPs) from meddling in the speeds their customers receive when browsing the web and downloading files, restoring tough rules rescinded during the Trump administration and setting the stage for a major legal battle with the broadband industry. The net

By Bryan Mena, CNN Washington (CNN) — Home sales based on contract signings unexpectedly jumped in March despite elevated mortgage rates that month. And the latest data from Freddie Mac showed that mortgage rates edged higher this week, reaching a fresh five-month high. Pending home sales — a forward-looking indicator based on contract signings rather

By Chris Isidore, CNN New York (CNN) — Southwest Airlines announced Thursday it will stop serving four airports after reporting increased losses in the first quarter and more delays in the delivery of promised jets from Boeing. The four airports are Bellingham International Airport in Washington state, Cozumel International Airport in Mexico, Syracuse Hancock International Airport

By Bryan Mena, CNN Washington (CNN) — The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates, but the Federal Reserve has made it clear it’s in no

By Peter Valdes-Dapena, CNN (CNN) — In its earliest days Buick had a reputation for engineering innovation and raw speed. Swiss-born race driver Louis Chevrolet made his name, in part, driving Buicks on race tracks around the country. In the 21st Century, though, Buick, which celebrates its 125th anniversary this year, has been a quiet

By Anna Cooban, CNN London (CNN) — Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record. BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion)

By Brian Fung, CNN (CNN) — The clock has begun ticking for TikTok to find a new owner. President Joe Biden signed legislation Wednesday that would ban TikTok in the United States unless its Chinese parent, ByteDance, sells the app. TikTok plans to challenge the law in court, but if it fails, the company would

By Hanna Ziady, CNN London (CNN) — Shares in Meta plunged Thursday, as the Facebook owner’s plans to “invest aggressively” in artificial intelligence spooked investors. The stock fell as much as 15% to $421.40 when the Nasdaq opened, wiping $183 billion off its market value. The selloff, which started in after-hours trade Wednesday, came as

By Hanako Montgomery and Helen Regan, CNN Tokyo/Hong Kong (CNN) — Mitsuko Tottori admits Japan has much more to do to get people like her into the chief executive seat. Tottori was named as the first female president and chief executive of Japan Airlines (JAL) in January, crowning a career that began nearly 40 years

By Hadas Gold, CNN (CNN) — TikTok’s expected legal challenge to a law signed Wednesday by President Joe Biden forcing the popular app’s parent company to spin off its US operations could be a seminal moment in First Amendment law in what is shaping up to be a year of defining cases. The new law gives TikTok’s parent company

By Oliver Darcy and Marshall Cohen, CNN (CNN) — The Gateway Pundit, the notorious far-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election. The move comes as the staunchly pro-Donald Trump website, which promoted the false notion that