Money

By Chris Isidore and Matt Egan, CNN (CNN) — The US Treasury is phasing out production of the penny and will soon stop putting new one-cent coins into circulation, the department said in a statement Thursday. The news of the decision was first reported by the Wall Street Journal Thursday. A Treasury spokesperson said the

By Clare Duffy, CNN New York (CNN) — Following reports from CNN and other news outlets, Senator Maggie Hassan is demanding information about how Spotify is handling phony podcasts promoting potentially illegal online pharmacies. Spotify said last week that it had removed dozens of podcasts identified by CNN that blatantly promoted the online pharmacies purportedly

By Anna Cooban, CNN London (CNN) — JPMorgan Chase CEO Jamie Dimon isn’t ruling out stagflation in the United States, citing risks posed by large government budget deficits, including in America, and the disruption to global trade induced by US tariffs. The term refers to a nightmare combination of economic stagnation or even a recession

By Clare Duffy, CNN New York (CNN) — Tech firm Workday is facing a collective action lawsuit alleging that its job applicant screening technology is discriminatory, following an order by a California district judge on Friday. The outcome could set a precedent for whether and how companies can use algorithms and artificial intelligence to make

By Matt Egan, CNN New York (CNN) — In the spring of 2020, America faced a once-in-a-century health crisis that crashed the economy and threatened the lives of millions. Republicans and Democrats came together to pass a forceful, and expensive, emergency response that helped prevent permanent scarring to the economy. Today, America’s mountain of debt

By David Goldman, CNN (CNN) — The decidedly unsexy bond market is usually pretty quiet. But when they want to, bond investors can send a loud, clear message to Washington. They did just that Wednesday and Thursday. The 20-year bond auction conducted by the US Treasury on Wednesday afternoon was unusually weak: Demand for the

By Samantha Delouya, CNN (CNN) — President Donald Trump on Wednesday said he soon planned to decide whether to privatize Fannie Mae and Freddie Mac, the government-sponsored entities that help provide stability and affordability to America’s home mortgage market. “I am giving very serious consideration to bringing Fannie Mae and Freddie Mac public,” Trump posted

By Brian Stelter, CNN (CNN) — This is an epic — pardon the pun — week for Comcast and the wider media business. Epic Universe, the first major new theme park in the US in 20-plus years, is opening in Orlando, Florida, on Thursday. Fans are expected to camp out overnight ahead of the official

By John Towfighi, CNN New York (CNN) — Stocks, bonds and the dollar fell on Wednesday as concerns mount about the premier status of American assets. The Dow closed lower by 817 points, or 1.91%. The broader S&P 500 slid 1.61% and the tech-heavy Nasdaq Composite fell 1.41%. The three major indexes each posted their

By Nathaniel Meyersohn, CNN New York (CNN) — Target was already facing a very public revolt from some of its most loyal customers. Now it’s warning about tariffs. The company said Wednesday that sales fell last quarter, driven in part by customer backlash to Target’s reversal on diversity, equity and inclusion (DEI) programs. Target also

CNN, FAA ORDER, NLIA By Chris Isidore, CNN (CNN) — Summer’s usually a boom time for airlines. This year could change that. Airlines began 2025 projecting strong growth. But since then, one issue after another has cut into passenger demand. Air traffic control problems are causing flight delays and cancellations, feeding into traveler worries over

By Chris Isidore, CNN (CNN) — Summer’s usually a boom time for airlines. This year could change that. Airlines began 2025 projecting strong growth. But since then, one issue after another has cut into passenger demand. Air traffic control problems are causing flight delays and cancellations, feeding into traveler worries over safety that began in

By Matt Egan, CNN New York (CNN) — Despite a brief market scare, the richest 10 Americans got $365 billion richer over the past year, according to a new analysis from Oxfam. The stunning increase in wealth amounts to a gain of roughly $1 billion per day for those billionaires. By contrast, the typical American