Money

By Matt Egan, CNN (CNN) — President Donald Trump stepped up attacks on his handpicked Federal Reserve chairman on Wednesday, claiming Jerome Powell has “low IQ” and suggested that he has narrowed down the list of potential replacements to three or four people. “He’s an average mentally person…Low IQ for what he does,” Trump said

By Jordan Valinsky, CNN New York (CNN) — Bumble, the beleaguered dating app whose stock has lost 90% of its value since going public in 2021, is axing 30% of its workforce. The company announced in a regulatory filing Wednesday that the layoffs amount to 240 positions and will save Bumble $40 million annually. The

By Tami Luhby, CNN (CNN) — President Donald Trump’s megabill and his overall economic agenda would increase economic growth, spur job creation, boost wages and lower the national debt, according to an updated report released Wednesday by the White House Council of Economic Advisers. The analysis includes measures beyond just the tax provisions in the

By John Towfighi, CNN New York (CNN) — The US dollar is having its worst year in decades. While stocks have recovered from their April lows and demand for bonds has been relatively steady, the dollar has continued a precipitous decline. The US dollar index, which measures the dollar’s strength against six major foreign currencies,

By Jordan Valinsky, CNN New York (CNN) — Monster and CareerBuilder, once two of the most popular websites for job seekers at the height of the dot-com era, have filed for bankruptcy. The two sites, which merged last year to become one entity named Monster + CareerBuilder, voluntary filed for Chapter 11 Tuesday, announcing that

By John Towfighi, CNN New York (CNN) — The S&P 500 is on the cusp of a record high. That’s a remarkable change of events, since the index was on the brink of a bear market just two months ago. US stocks on Wednesday were mixed, with a new high for the S&P 500 less

By Elisabeth Buchwald and Vanessa Yurkevich, CNN (CNN) — New York City is one of the most expensive cities in the world to live in, a fact that guided many New Yorkers’ votes in Tuesday’s mayoral primary election. Like his fellow candidates, Zohran Mamdani has put affordability at the forefront of his campaign. But his

By Matt Egan, CNN New York (CNN) — The US economy needs the fragile ceasefire President Donald Trump brokered in the Middle East to hold. If the pause in fighting between Israel and Iran fails and major hostilities resume, oil prices would likely spike again. And surging gasoline prices are the last thing the US

By Elisabeth Buchwald, CNN (CNN) — Consumer confidence dropped last month to a reading of 93, a 5.4 point decline from May, according to data the Conference Board released on Tuesday. The decline was seen across all political affiliations but was strongest among Republican respondents. Consumers had been feeling better after an agreement was secured

By Chris Isidore and Alexandra Skores, CNN Washington, D.C. (CNN) — The blame for a horrifying mid-flight blowout of a door plug on an Alaska Airlines flight last year is shared by plane manufacturer Boeing, its supplier Spirit Aerosystems and the Federal Aviation Administration, the chairwoman of the National Transportation Safety Board said at a

By Sean Lyngaas, CNN (CNN) — Hospitals, water dams and power plants across the US are on alert for any potential Iranian cyberattacks in retaliation for US airstrikes on Iran nuclear sites over the weekend. The United States dropped massive bombs on three nuclear sites inside Iran on Saturday, decisively entering into conflict with the

By Jordan Valinsky, CNN New York (CNN) — King’s Hawaiian, maker of sweet buns and rolls that come in distinct bright-orange packaging, is retooling its branding as part of its 75th anniversary. The company unveiled Tuesday a modernized logo and updated packaging for its products, which have grown in recent years to include snacks like

By Anna Cooban, John Liu and John Towfighi, CNN London/Hong Kong/New York (CNN) — Oil prices fell sharply Tuesday, returning to levels last seen before the Iran-Israel conflict, as investors cheered news of a ceasefire, albeit fragile, between the two countries. Brent crude, the global oil benchmark, fell 6.1% to $67.14 a barrel. West Texas

By Bryan Mena, CNN Washington (CNN) — It’s still too soon for the Federal Reserve to consider lowering interest rates, Chair Jerome Powell said Tuesday. “Policy changes continue to evolve, and their effects on the economy remain uncertain,” Powell said in his prepared testimony for his semiannual monetary policy report to Congress. “For the time

By Jordan Valinsky, CNN New York (CNN) — McDonald’s is the latest target of a grassroots “economic blackout” campaign that has previously targeted other major companies with mixed success. The People’s Union USA, led by John Schwarz, is now calling on people to boycott McDonald’s beginning Tuesday through next Monday, explaining in an Instagram post

By Lisa Eadicicco, CNN New York (CNN) — A nearly three-year-old AI startup has caught Meta’s attention, and reportedly Apple’s too. Meta spoke with AI search engine Perplexity about a potential acquisition, although a deal was not reached, according to sources familiar with the discussions. The talks were held in late April or early May,

By Samantha Delouya, CNN (CNN) — Compass has officially brought a long-simmering real estate dispute into the courtroom. On Monday, the real estate brokerage sued home-search website Zillow, accusing it of engaging in an anticompetitive conspiracy to maintain its dominance over digital home listings. Compass’ lawsuit marks a new phase in the battle between real

By Alicia Wallace, CNN (CNN) — How well — or how poorly — Americans are managing their Buy Now, Pay Later loans soon could be reflected in their credit scores. FICO plans to launch a suite of credit scores later this year that incorporate BNPL data, providing lenders a window into what’s been a big

By Chris Isidore, CNN (CNN) — Tesla’s much-publicized robotaxi service began this weekend — but only in one neighborhood in Austin, Texas, only for a select group of the company’s fans and only with a Tesla employee in the front passenger seat. It was a far more modest rollout for robotaxis than Tesla CEO Elon