Money

By Chris Isidore, CNN (CNN) — Transit workers for the Long Island Rail Road, the nation’s largest commuter railroad, are on strike, potentially stranding hundreds of thousands of weekday passengers in the New York City area. The strike by the five unions representing 3,500 workers, the first at the railroad since 1994, has brought all

By Nathaniel Meyersohn, CNN New York (CNN) — Nvidia CEO Jensen Huang, who has a net worth estimated at roughly $200 billion, was recently asked about California’s wealth tax proposal that has some billionaires riled up. “It’s fine,” he said. “I never once thought about it.” Many billionaires are frustrated over blue states’ and cities’

By Bryan Mena, CNN Washington (CNN) — The sharpest economic decline in American history, the highest inflation in more than 40 years, aggressive political attacks from the White House, and the worst-ever global energy shock. Those are some of the extraordinary events that unfolded during the eight-year chairmanship of Jerome Powell at the Federal Reserve,

By Jordan Valinsky, CNN New York (CNN) — Nearly a year after Trump Mobile started taking $100 deposits and a few days after its website updated to say delivery was “conditional,” the gold-plated Trump Phone will begin shipping this week, the company announced. The $499 Trump Phone, officially known as the Trump Mobile T1 and

By Chris Isidore, CNN (CNN) — The auto industry’s massive pullback from its electric vehicle plans has claimed another victim: Honda, which posted its first annual loss since 1955. Honda and other global automakers downshifted their EV ambitions after the Trump administration changed US emissions rules and ended a $7,500 tax credit for American buyers.

By Bryan Mena, CNN Washington (CNN) — Kevin Warsh was narrowly confirmed Wednesday by the Senate to serve as the 17th chair of the Federal Reserve, inheriting a central bank that has long been under political siege from President Donald Trump and an economy rattled by geopolitical tensions that are driving inflation higher. Warsh will

By Elisabeth Buchwald, CNN (CNN) — Winning a landmark Supreme Court case against President Donald Trump’s most sweeping tariffs was one thing. Actually getting his illegally collected tariff money back from the government, though, was practically inconceivable to Victor Schwartz, owner of wine importer VOS Selections and the lead plaintiff in that case. On Wednesday,

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump’s latest Iran war pitch to American consumers: Short-term pain will bring long-term gain. But Tuesday’s ugly consumer inflation report, Wednesday’s uglier wholesale inflation report and some worrying bond market signals all point to one thing. The pain will not be short-lived. Wednesday’s Producer Price Index report

By Hadas Gold, Samantha Delouya, Lisa Eadicicco, CNN Oakland, Calif. (CNN) — Elon Musk’s lawyer began his cross examination of OpenAI CEO Sam Altman in court on Tuesday with a brief question: “Are you completely trustworthy?” Musk is suing the company and its leaders over allegations that OpenAI, Altman and president Greg Brockman breached their

By Hanna Ziady, CNN London (CNN) — Online marketplace eBay has rejected an offer from GameStop to buy the company for $55.5 billion, dealing a blow to the video game retailer’s ambitions to create a rival to Amazon. After reviewing GameStop’s proposition, the eBay board had concluded that the proposal was “neither credible nor attractive,”

By Matt Egan, CNN New York (CNN) — Gas prices are within striking distance of $5 a gallon, a painful threshold that seemed virtually impossible when the year started. And the high-demand summer driving season hasn’t even begun. Some experts fear gas could break the all-time highs set in 2022, even though crude oil isn’t