Money

By Jordan Valinsky, CNN New York (CNN) — Hooters has abruptly closed dozens of locations just a few months after the chicken wing chain filed for bankruptcy and proclaimed it wasn’t “going anywhere.” “After careful consideration of what is needed to best position our company for the future, Hooters made the difficult decision to close

By Alicia Wallace, CNN (CNN) — Last June, after almost a full year on the job hunt, Jordan Williams landed a role at a high-growth, United Kingdom-based outdoor apparel brand that was looking to build out its US operations. Passenger Clothing was well positioned for expansion: The company landed orders with REI, Scheels and others;

By John Towfighi, CNN New York (CNN) — Stablecoins are on the verge of going mainstream, analysts say, as a landmark regulatory bill makes its way through Congress. The Senate is deliberating the GENIUS Act, which would provide a framework for regulating stablecoins. The bill last week passed a major procedural hurdle in the Senate

By Bryan Mena, CNN Washington (CNN) — In the New England region, a clothing store re-tagged items to be sold during the summer to cover the cost of tariffs. A car dealership in upstate New York said its inventory has been depleted by Americans rushing to get ahead of tariffs. And an electronics manufacturer said

WDJT, KFVS, CNN By Chris Isidore, CNN (CNN) — US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the metals, from car makers to can manufacturers. The jump in import taxes is

By Alicia Wallace, CNN (CNN) — High economic uncertainy has hiring grinding to a halt at US businesses. Job growth slowed for the second month in a row at private-sector firms, which added just 37,000 jobs in May, according to new employment estimates released Wednesday by payroll company ADP. May’s job gains, which marked a

By Anna Cooban, CNN London (CNN) — The owner of Pornhub has blocked access to its website in France because of its objections to a new French law requiring pornographic sites to verify the age of their users. Adult entertainment company Aylo has “made the difficult decision to suspend access” in France to its “user-uploaded”

By Vanessa Yurkevich, CNN New York (CNN) — At the start of February, Randy Carr, the CEO of World Emblem, booked a plane ticket to the Caribbean. President Donald Trump had just announced a 25% duty on Mexico and Canada – what would be the first of many tariffs on other countries. World Emblem, the

By Simone McCarthy, CNN Hong Kong (CNN) — US President Donald Trump says Chinese leader Xi Jinping is “extremely hard to make a deal with” in a comment that comes as frictions rise between the two countries, weeks after they reached an agreement to de-escalate trade tensions. “I like President XI of China, always have,

By Lisa Eadicicco and Anna Stewart, CNN (CNN) — Demis Hassabis, CEO of Google’s AI research arm DeepMind and a Nobel Prize laureate, isn’t too worried about an AI “jobpocalypse.” Instead of fretting over AI replacing jobs, he’s worried about the technology falling into the wrong hands – and a lack of guardrails to keep

By Chris Isidore, CNN (CNN) — US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the metals, from car makers to can manufacturers. The jump in import taxes is the latest salvo

CNN, POOL, OECD REPORT By Chris Isidore, CNN (CNN) — US tariffs on steel and aluminum doubled to 50% as of 12:01 am ET on Wednesday, a move cheered by the beleaguered American steel industry but worrisome to sectors that heavily use the metals, from car makers to can manufacturers. The jump in import taxes

By Samantha Delouya, CNN (CNN) — Warner Bros. Discovery shareholders voted on Tuesday to reject the pay packages for several of the company’s executives, including CEO David Zaslav’s compensation package of more than $50 million. Nearly 60% of the symbolic vote was against the 2024 executive payouts at Warner Bros. Discovery’s annual meeting, according to

By Brian Stelter and Liam Reilly, CNN (CNN) — America’s two big public broadcasters, PBS and NPR, have 45 days to salvage their federal funding — starting now. On Tuesday, the Trump administration sent Congress a long-awaited request for lawmakers to cancel more than $1 billion in federal funds earmarked for the Corporation for Public

By John Towfighi, CNN New York (CNN) — The US is at a low risk of an imminent debt crisis — but high risk in the long term, billionaire investor Ray Dalio writes in a new book. The US government debt situation is “nearing the point of no return” and approaching a “death spiral” that

By Ramishah Maruf, CNN New York (CNN) — McDonald’s is bringing back a long-requested, cult favorite food item: the Snack Wrap. “It’s back,” the company said in a two-word statement Tuesday, echoing the words of another Chicago symbol, Michael Jordan, in his NBA comeback fax. The wrap will return to McDonald’s menus on July 10

By Alicia Wallace, CNN (CNN) — The number of available jobs in the US unexpectedly increased in April, new data showed Tuesday, a potential indicator that the labor market isn’t yet buckling amid broader economic concerns. Job openings totaled an estimated 7.39 million at the end of April, up from 7.2 million in March, according

By Nathaniel Meyersohn, CNN New York (CNN) — Middle-class and wealthier Americans are heading to Dollar General. That’s benefiting the company, but it could be a warning sign for the wider economy. Dollar General said Tuesday that sales at stores open for at least a year had increased 2.4% last quarter. The discount chain also