By Anna Cooban, CNN Birmingham, UK (CNN) — Will Timms is a very busy man. The pest controller spends his days criss-crossing Britain’s second-largest city to remove rats, cockroaches and other unwanted creatures from people’s homes. Lately, Timms’ phone has barely stopped ringing as some 17,000 metric tons of garbage have piled up on Birmingham’s
Continue ReadingBy David Goldman, CNN (CNN) — America has a brand new tax on virtually every item that comes over its border: 10%. The universal tariff went into effect Saturday at 12:01 a.m. ET after President Donald Trump signed an executive order earlier in the week requiring a baseline tax for all imports. The announcement sparked
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CNN By Robert Ilich, David Goldman and Samantha Waldenberg, CNN (CNN) — The tariff-induced market mayhem isn’t over just yet. US stock futures plunged Sunday evening after two sessions of sell-offs that wiped away over $5.4 trillion in market value. Stocks were set to open sharply lower Monday, putting the S&P 500 on the precipice
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CNN By Jeremy Herb, Jeff Zeleny, Kayla Tausche and Phil Mattingly, CNN (CNN) — President Donald Trump’s sweeping new tariffs are facing blowback from all corners – a market sell-off, foreign retaliation, anger from corporate America and skepticism from the Federal Reserve chairman and some allies in Congress. So far, the president is defiant in
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By David Goldman and John Towfighi, CNN New York (CNN) — US stocks were battered by a steep sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war. The Dow plunged by 2,231 points, or 5.5%. The broader S&P 500 was 5.97%
Continue ReadingBy Liam Reilly, CNN (CNN) — If a picture is worth a thousand words, then D.W. Pine — Time’s longtime creative director who recently published his thousandth cover — certainly has a lot to say. Pine, who joined the magazine in 1998, has put the world’s most recognizable faces within the storied red border, from
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By Clare Duffy and Alayna Treene, CNN New York (CNN) — President Donald Trump announced on Friday that he will again postpone enforcement of the TikTok sale-or-ban law for 75 days. The delay comes after Trump’s tariff announcement derailed a deal that had been set to transfer control of the app’s US operations to American
Continue Reading By Bryan Mena, CNN Washington (CNN) — Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday. “We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation,” he said at an event just outside Washington,
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By Alicia Wallace, CNN (CNN) — As of March, the US labor market remained on solid footing: Job gains were broad-based and better than expected and participation picked up. However, a lot has changed for the US economy — and the world — in the first few days of April. President Donald Trump levied sweeping
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CNN By David Goldman and John Towfighi, CNN New York (CNN) — US stocks were battered by a steep sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war. The Dow plunged by 2,231 points, or 5.5%. The broader S&P 500 was
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By Nathaniel Meyersohn, CNN New York (CNN) — Restaurant industry icons where Americans went out for decades for wings, dinner, and celebrations are facing a crisis. Hooters filed for bankruptcy this week, the latest casual dining chain to go belly up. Red Lobster, TGI Fridays and Buca di Beppo also filed for bankruptcy in the
Continue Reading By Juliana Liu and Nectar Gan, CNN Hong Kong (CNN) — China said Friday that it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war. On Wednesday, Trump unveiled an additional
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By John Liu, CNN (CNN) — For Tim Hsu, who sells modern lamps and ceiling lights mostly to American customers, US President Donald Trump’s historic tariff announcement has upended his carefully made plans. Last year, the Taiwanese businessman decided to invest in Cambodia to diversify his production base beyond his traditional stronghold of south China.
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CNN By Chris Isidore, CNN (CNN) — Stellantis has “paused production” at some of its Canadian and Mexican auto assembly plants due to the newly announced tariffs — and as a result, some US workers will also be temporarily laid off. Among those to be laid off are 900 US hourly employees who make powertrains
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CNN By Elisabeth Buchwald, CNN (CNN) — President Donald Trump on Wednesday launched a US trade war with every country via a barrage of tariffs that are set to go into effect almost immediately. American consumers and businesses stand to pay a hefty price for that battle. For the first time since Trump’s return to
Continue Reading By Chris Isidore, CNN (CNN) — Stellantis has “paused production” at some of its Canadian and Mexican auto assembly plants due to the newly announced tariffs — and as a result, some US workers will also be temporarily laid off. Among those to be laid off are 900 US hourly employees who make powertrains and
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By Rachel Wilson, CNN (CNN) — President Donald Trump unveiled sweeping 10% tariffs on all imports to the United States Wednesday. About 60 countries or trading blocs will see even higher rates in an escalating move that is poised to initiate a global trade war. Many major US trading partners will be hit hard by
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By Elisabeth Buchwald, CNN (CNN) — President Donald Trump on Wednesday launched a US trade war with every country via a barrage of tariffs that are set to go into effect almost immediately. American consumers and businesses stand to pay a hefty price for that battle. For the first time since Trump’s return to the
Continue ReadingBy Jordan Valinsky, CNN New York (CNN) — Zelle, the popular person-to-person money transferring service, shut down its standalone app Tuesday — but the service itself is not disappearing. Zelle had warned of the shutdown last year, explaining in an announcement that only 2% of transactions happen on its app. A “vast majority” of Zelle’s
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By John Towfighi, CNN New York (CNN) — Global markets on Thursday were severely rattled by President Donald Trump’s historic tariff announcement, which threatens to throw the US and the rest of the world into a recession. The Dow fell 1,679 points, or 3.98%. The broader S&P 500 was down by 4.84% and the tech-heavy
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