Money

By Lisa Eadicicco, CNN (CNN) — Microsoft is eliminating about 4,800 jobs — about 2.1% of the company’s global workforce — with its Xbox gaming unit among the hardest hit. “Our business is changing because the world around it is changing,” Amy Coleman, Microsoft’s executive vice president and chief people officer, said in a message

By Jeanne Sahadi, John Towfighi, CNN (CNN) — A year after becoming law, the new savings and investment vehicle for children known as the Trump Accounts officially became operational on Saturday, July 4. President Donald Trump rang the opening bell for Nasdaq and the New York Stock Exchange from the Oval Office on Monday to

By Jordan Valinsky, CNN New York (CNN) — Cracker Barrel CEO Julie Felss Masino said six months ago that she thought she was “fired by America” following a bungled revamp. Today, she could be on the path to forgiveness. The chain’s focus on getting back to its roots, doubling down on Southern-inspired comfort food and

By Vanessa Yurkevich, CNN New York (CNN) — This March, actress Brooke Shields made a reservation at a Mexican restaurant in Denver, Colorado called Casa Bonita under a fake name – but not to avoid paparazzi It was so the restaurant’s management team and owners Trey Parker and Matt Stone, who are also the creators

By Jeanne Sahadi, CNN (CNN) — Trump Accounts, a new federal savings and investment vehicle for children, went live on July 4. To date, more than 6 million Trump Accounts have been opened for children under age 18, according to the Treasury Department. Of those, 1.4 million will receive the much-touted $1,000 federal pilot contribution

By Soph Warnes, Matt Stiles, Tal Yellin, Byron Manley, Lou Robinson, Renée Rigdon, Annette Choi, CNN (CNN) — Global oil prices rose significantly during the United States and Israel’s war with Iran. Since the United States and Iran signed a peace plan to end the war, oil prices have been declining and all eyes are

By David Goldman, CNN (CNN) — The price displayed above that third button on the gas pump averaged more than $5.40 for several days this spring. American drivers still couldn’t get enough. Premium gas now costs around a buck a gallon more than regular – way more than the price “premium” that drivers paid for

By Anna Cooban, Chris Isidore, CNN London (CNN) — Tesla’s global sales shot up 25% in the second quarter in a sign that Elon Musk’s EV maker may be turning a corner – at least in Europe. The company posted deliveries of more than 480,000 in the three months to the end of June, up

By David Goldman, CNN (CNN) — President Donald Trump launched his $TRUMP memecoin in the days leading up to his second inauguration, ushering in a pro-crypto administration – and a lucrative family business. The venture that netted Trump hundreds of millions of dollars last year, part of overall crypto gains that topped $1 billion. Most

By Anna Cooban, CNN London (CNN) — A new trade deal between the United States and United Kingdom could result in more than 200,000 otherwise avoidable deaths in England by diverting billions of pounds away from vital health services, according to a new analysis. In December, the UK agreed with Washington DC to increase the

By Hanna Ziady, CNN London (CNN) — OpenAI, the creator of ChatGPT, is reportedly discussing handing the Trump administration a 5% stake in the company amid growing government scrutiny of artificial intelligence firms. The proposal would involve other US AI companies giving the government similar stakes, the Financial Times reported Thursday, citing two people familiar

By Alicia Wallace, CNN (CNN) — US job growth settled down after a spring surge, as employers added a lower-than-expected 57,000 positions last month, according to Bureau of Labor Statistics data released Thursday. June’s tally is a marked cooldown from solid gains previously reported for the three months prior. Monthly totals for April and May

By Elisabeth Buchwald, CNN (CNN) — Six years ago, President Donald Trump hailed his US-Mexico-Canada Agreement, or USMCA, as the “fairest, most balanced, and beneficial trade agreement we have ever signed.” Now, as the pact is up for review, Trump says he’s ready to abandon it. “I’m not looking to renew it,” Trump said last

By John Towfighi, CNN (CNN) — The Japanese yen has dropped to a 40-year low against the US dollar, putting investors on watch for potential government intervention by Japan that could ripple through US stocks, the Treasury market and the broader global economy. The yen’s decline to its lowest level since 1986 has been fueled

By Alicia Wallace, CNN (CNN) — For much of the past 18 months, the labor market has remained largely frozen. Rampant uncertainty, a lasting hangover from pandemic-era overhiring, the rise of AI, and a cocktail of other economic concerns – persistently high inflation, elevated interest rates and a shrinking labor force – stifled businesses’ expansion

By Elisabeth Buchwald, CNN (CNN) — Six years ago, President Donald Trump hailed his US-Mexico-Canada Agreement, or USMCA, as the “fairest, most balanced, and beneficial trade agreement we have ever signed.” Now, as the pact is up for review, Trump says he’s ready to abandon it. “I’m not looking to renew it,” Trump said last

By Bryan Mena, CNN Washington (CNN) — Federal Reserve Chairman Kevin Warsh isn’t alone in arguing that central banks should stop trying to predict the economy: A slew of top central bankers said Wednesday they also question the practice of speculating about the economy’s future path. “We have found common cause,” Warsh said Wednesday during

By John Towfighi, CNN New York (CNN) — It’s been a wild few months for markets: Oil industry disruption. Resurgent inflation. Nerves about AI. Despite it all, US stocks are still trading near record highs. The S&P 500 and Nasdaq have surged about 15% and 21%, respectively, since the end of March, bouncing back from

By Ramishah Maruf, CNN New York (CNN) — It’s a cruel summer for anyone who wants details on Taylor Swift and Travis Kelce’s impending wedding celebration. But one thing is for certain: If the nuptials do happen at Madison Square Garden, the newly minted billionaire and three-time NFL champion can afford to go all out.