Money

By Lucy Bayly, CNN (CNN) — Kevin Warsh was sworn in Friday at the White House as Chairman of the Board of Governors of the Federal Reserve System, succeeding Jerome Powell in one of the world’s most powerful economic positions. Warsh, 56, steps into the four-year role at a time of mounting uncertainty over inflation,

By Alicia Wallace, CNN (CNN) — Americans just loathe this economy. A closely watched measurement of US consumer sentiment fell to a fresh, all-time low in May, according to the latest survey from the University of Michigan. The May consumer sentiment index dropped for the third consecutive month, falling to 44.2 and landing below the

By Amy Gunia, CNN (CNN) — The repercussions of the Iran war have been felt globally, but the United Arab Emirates has suffered a more direct impact than most, targeted by missile and drone strikes. Those attacks have also threatened its image as a glamorous haven for tourists to the Middle East. Still, Abu Dhabi

By Hadas Gold, CNN (CNN) — Meta. Nike. Intuit. UPS. It seems every day a new company announces layoffs, often citing AI as the cause. AI is already reducing US monthly payroll growth by roughly 16,000 jobs in the past year, according to a recent Goldman Sachs report. Knowledge workers face the sharpest exposure, as

By Samantha Delouya, CNN (CNN) — For more than two years, David and Lindsay Lepinsky bid over asking price, waived contingencies and stretched their budget in central New Jersey’s brutally competitive housing market. Still, their offers kept getting passed over as homes sold for tens – and sometimes hundreds – of thousands of dollars above

By Jordan Valinsky, CNN New York (CNN) — Byron Allen got his first big break as a teenage comedian on Johnny Carson’s “The Tonight Show.” Nearly five decades later, he is returning to late night not just as a comic, but as a billionaire media mogul with a sprawling and unconventional empire. Allen owns The

CNN By Brian Stelter, CNN (CNN) — Stephen Colbert put on an emotional and existential final episode of “The Late Show” Thursday night, thanking his staff, studio audience and viewers for eleven years of laughs. Colbert walked on stage to deafening cheers at the Ed Sullivan Theater, where longtime friends and VIPs filled the rows

By Brian Stelter, CNN (CNN) — Stephen Colbert put on an emotional and existential final episode of “The Late Show” Thursday night, thanking his staff, studio audience and viewers for eleven years of laughs. Colbert walked on stage to deafening cheers at the Ed Sullivan Theater, where longtime friends and VIPs filled the rows of

By Samantha Delouya, CNN (CNN) — Turmoil in the bond market, fueled by the war with Iran, is sending US mortgage rates higher and threatening to make buying a home even more expensive. The average 30-year fixed-rate mortgage rose to 6.51% this week, reaching the highest level since August of last year, according to Freddie

By Hanna Ziady, CNN London (CNN) — The US Department of Commerce is awarding $2 billion to American quantum-computing companies — half of which will go to IBM — to bolster the buildout of super computers that could solve some of the world’s most pressing problems. The move comes amid growing investment into quantum computing

By Liam Reilly, CNN (CNN) — Netflix is taking another step toward becoming a live TV destination. The streaming giant announced Thursday that “The Breakfast Club,” the influential iHeartMedia morning show co-hosted by Charlamagne Tha God, DJ Envy and Jess Hilarious, will stream live on Netflix every weekday starting June 1. The move marks Netflix’s

By Ella Nilsen, CNN (CNN) — Extreme weather has impacted every corner of the US, from deadly floods to sweltering heat. For Americans, the changing climate has made protecting their homes increasingly important. Finding a “climate haven” in the United States has become more difficult with the warming planet. Storms can dump biblical amounts of

By John Liu, Yoonjung Seo, CNN Hong Kong/Seoul (CNN) — Samsung Electronics has become one of the leading beneficiaries of the global artificial intelligence boom. Surging demand for semiconductors has turned South Korea’s largest corporation into a $1 trillion company this year, propelling Seoul’s stock market to rank as the world’s sixth-largest. But one segment

By Hadas Gold, Kristen Holmes, CNN (CNN) — The White House on Thursday postponed plans for President Donald Trump to sign an executive order establishing a voluntary review process for artificial intelligence models before they’re released, according to a source familiar with the plans. Trump said he had delayed the EO signing because he “didn’t

By David Goldman, Chris Isidore, CNN (CNN) — SpaceX revealed its long-awaited plans to go public on Wednesday, shedding light on the finances and leadership of one of the largest, best-known and yet most secretive private companies in history. Elon Musk’s rocket and satellite company revealed previously undisclosed details, including its board members, sales, profit,

By Samantha Delouya, CNN (CNN) — A landmark housing affordability package moved one step closer to becoming law on Wednesday after winning bipartisan approval in the House of Representatives. The measure is an amended version of the 21st Century ROAD to Housing Act, which cleared the Senate in March. The bill, which won approval in

By Alicia Wallace, CNN (CNN) — This summer is expected to be the worst on record for teen hiring, according to the latest forecast from Challenger, Gray & Christmas. The outplacement and consulting firm projected that an estimated 790,000 jobs would go to teen workers in May, June and July, landing below last summer’s record-low

By Brian Stelter, CNN (CNN) — James Murdoch just made a big investment in the American news media. On Wednesday morning, his media and tech holding company, Lupa Systems, said it had agreed to acquire most of Vox Media, including Vox’s main website, its popular podcast network, and New York magazine. The deal was announced