Money

By Auzinea Bacon and Clare Duffy, CNN Washington, DC (CNN) — Meta CEO Mark Zuckerberg took the witness stand Monday to defend his company against accusations by the Federal Trade Commission that it bought competing social media companies to dominate the market with a monopoly. It was the first of what is expected to be

By Alicia Wallace, CNN (CNN) — Not since the early weeks of the pandemic have Americans been this certain that unemployment will spike. Consumers surveyed by the Federal Reserve Bank of New York in March put a 44% probability on the nation’s jobless rate being higher a year later, marking the highest level since April

By John Towfighi, CNN New York (CNN) — US stocks rose Monday as traders rallied on the Trump administration’s exemption for tariffs on smartphones, computers and various electronics imported from China. The Dow rose 312 points, or 0.78%. The broader S&P 500 rose 0.79%. The tech-heavy Nasdaq Composite gained 0.64%. All three major indexes closed

By John Liu and Anna Cooban, CNN Hong Kong/London (CNN) — Billionaire Ray Dalio says President Donald Trump’s tariff war has helped push America close to a recession — or perhaps even “something worse.” “Right now, we are at a decision-making point and very close to a recession,” the founder of Bridgewater Associates, one of

By Clare Duffy, CNN New York (CNN) — “Need an Uber Eats account in Jacksonville, FL ASAP.” “I have one.” “Looking for an Uber eats account to rent in Virginia.” “Available.” Those exchanges were found on a public Facebook group with more than 22,000 members called “UBER ACCOUNT FOR RENT WORLDWIDE.” It’s just one of

By Brian Stelter, CNN (CNN) — Meta is going on trial starting Monday. The US government is advancing a blockbuster antitrust case, alleging that Mark Zuckerberg’s company illegally built a “social networking monopoly” through years of “anticompetitive conduct.” If the judge sides with the government, Meta could be forced to break itself up by selling

By Chris Isidore, CNN (CNN) — Much of President Donald Trump’s tariff rhetoric has been about restoring factory jobs — particularly auto jobs — that he says had been destroyed by bad trade deals such as the North American Free Trade Agreement. “American steelworkers, auto workers, farmers and skilled craftsmen … they really suffered gravely,”

By Auzinea Bacon, CNN (CNN) — Commerce Secretary Howard Lutnick said the Trump administration’s decision on Friday to exempt electronic devices — like smartphones, iPhones and laptops — from tariffs was only a temporary reprieve but those products will face separate levies, adding more confusion to an already chaotic rollout of tariffs on Chinese goods.

By Jeanne Sahadi, CNN (CNN) — It’s April 15 — otherwise known as “Tax Day” in the United States. While the IRS has already received a majority of the 2024 federal income tax returns typically filed by Tax Day — 101.422 million as of April 4, to be precise — US tax filers are expected

By Auzinea Bacon, CNN (CNN) — Electronics imported to the United States will be exempt from President Donald Trump’s reciprocal tariffs, according to a US Customs and Border Protection notice posted late Friday. Smartphones, computer monitors and various electronic parts are among the exempted products. The exemption applies to products entering the United States or

By Leigh Waldman and Joel Williams, CNN (CNN) — For nearly 30 years, Kevin Keyes and his brother-in-law Bob Chambers have run Dry Brook Sugar House in Salem, New York. Dry Brook Sugar House is nestled amid maple forests on the border of New York and Vermont. During this year’s maple season, which can run

CNN By David Goldman and John Towfighi, CNN (CNN) — President Donald Trump and his advisers said this was the plan all along: Scare the bejesus out of the world by announcing astronomically high tariffs, get countries to come to the negotiating table, and — with the exception of China — back away from the

By Bryan Mena, CNN Washington (CNN) — Americans are rarely this pessimistic about the economy. Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday, the second-lowest reading on records going back to 1952. April’s reading was lower than anything seen during