By John Liu and Haicen Yang, CNN (CNN) — In the spring of 2024, Li Hongxing, who runs a social media ad agency, took on a client he believed to be a rising star in China’s electric vehicle market. A marketing veteran in the auto industry, Li went so far as to borrow to cover
Continue ReadingBy Brian Stelter, Liam Reilly, CNN (CNN) — The blackout of “Jimmy Kimmel Live!” is over. Sinclair and Nexstar, the two major station groups that preempted the talk show earlier this month, are allowing the show to return to their ABC-affiliated stations on Friday evening. This means that Kimmel will be seen again in major
Continue ReadingBy Auzinea Bacon, CNN (CNN) — Amazon will soon have to refund some Prime members as part of a $2.5 billion settlement with the Federal Trade Commission – $1.5 billion of which will be returned directly to customers. It’s the FTC’s largest-ever settlement and the second-highest refund award in history. The FTC said in a
Continue ReadingBy Aaron Cooper, CNN (CNN) — For years, following significant and continuous quality and safety errors, Boeing has been barred from certifying the safety of some of its own aircraft on behalf of the US government. Following 18 months of intense oversight and scrutiny from US regulators, the Federal Aviation Administration is restoring Boeing’s safety
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — Americans are souring on the economy again to levels seen rarely in the post-World War II era, raising the question of what it means for spending, economic growth and other key metrics gauging the world’s largest economy. Consumer sentiment fell this month to a final reading of 55.1,
Continue ReadingBy Alicia Wallace, CNN (CNN) — Americans ramped up their spending in August; however, their costs of living were on the rise as food and other goods became even more expensive last month and services prices remained stubbornly high. New economic data released Friday showed that consumer spending rose 0.6% in the key back-to-school shopping
Continue ReadingBy Nathaniel Meyersohn, CNN New York (CNN) — The days of a Starbucks on every corner seem to be coming to an end. For years, Starbucks staked its reputation on its ability to expand relentlessly in cities and suburbs. Comedian Lewis Black even riffed in 2001 that the “end of the universe” was in Houston,
Continue ReadingBy Tami Luhby, CNN (CNN) — President Donald Trump announced Thursday that brand-name or patented pharmaceutical products will be subject to a 100% tariff starting October 1 – unless the drugmaker is building a manufacturing plant in the US. Trump has been promising for months to levy tariffs on pharmaceutical imports, which avoided tariffs during
Continue ReadingBy David Goldman, CNN (CNN) — President Donald Trump on Thursday announced sweeping tariffs on various household products, including imported kitchen cabinets and certain kinds of furniture – potentially adding even more costs to a category that has surged in price in recent months. Trump also announced heavy truck tariffs and pharmaceutical tariffs Thursday. “We
Continue ReadingCNN By Samantha Waldenberg, Clare Duffy, CNN (CNN) — President Donald Trump signed an executive order on Thursday clearing the way for the completion of a deal to sell TikTok’s US assets to a consortium of mostly American investors. The order marks an important procedural step toward finalizing the TikTok sale, but the deal is
Continue ReadingBy Oren Liebermann, Tal Shalev, CNN (CNN) — Microsoft has terminated a set of services for the Israeli military after an investigation suggested Israel was using the company’s cloud computing technology for mass surveillance of Palestinians. In a statement posted the company’s blog, Microsoft President Brad Smith said the company had “ceased and disabled a
Continue ReadingBy Jordan Valinsky, CNN New York (CNN) — Starbucks is taking “significant action” to turn around its struggling business, closing a large number of cafés and announcing a second round of layoffs at its headquarters as part of CEO Brian Niccol’s efforts to resuscitate the troubled chain. Niccol announced Thursday that Starbucks will close hundreds
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — Federal Reserve Governor Lisa Cook has the support of every living former chair of the central bank’s powerful Board in her legal battle with President Donald Trump, who tried to fire her last month based on unproven allegations of mortgage fraud, according to an amicus brief filed to
Continue ReadingBy Jordan Valinsky, CNN New York (CNN) — Amazon is paying a historic $2.5 billion settlement with the Federal Trade Commission, the agency announced Thursday, ending a two-year dispute over allegations the company tricked consumers into signing up for its Prime subscription service and then made it hard to cancel. As part of the agreement,
Continue ReadingBy Brian Stelter, CNN (CNN) — Newfound enthusiasm about Jimmy Kimmel’s show is not evaporating after just one monologue. Kimmel’s Wednesday night follow-up to his Tuesday night comeback show quickly racked up millions of views on YouTube on Thursday morning, indicating that interest in Kimmel’s commentary remains way above normal. By 2 p.m. ET on
Continue ReadingBy Bryan Mena, CNN Washington (CNN) — The US economy’s comeback in the second quarter was just revised higher again, and economists estimate that momentum carried on in the third quarter, underscoring the resilience of the world’s largest economy. Gross domestic product, the broadest measure of economic output, rose at an annualized rate of 3.8%
Continue ReadingBy Samantha Waldenberg, Clare Duffy, CNN (CNN) — President Donald Trump signed an executive order on Thursday clearing the way for the completion of a deal to sell TikTok’s US assets to a consortium of mostly American investors. The order marks an important procedural step toward finalizing the TikTok sale, but the deal is not
Continue ReadingBy Natasha Chen, CNN Los Angeles, CA (CNN) — The nearly 102-year-old Walt Disney Company is no stranger to being catapulted into America’s culture wars. But the wrangling over “Jimmy Kimmel Live!” this month marked a new milestone in the entertainment behemoth’s frequent foray into culture-war flashpoints. Just since 2020, Disney has dealt with political
Continue ReadingBy Wayne Chang, John Liu, CNN Taipei, Taiwan/Hong Kong (CNN) — Giant, the world’s largest bike manufacturer, on Thursday warned of delays to shipments to the United States after American customs officials announced a surprise ban on imports over unspecified forced labor accusations. US Customs and Border Protection (CBP) issued an order on Wednesday to
Continue ReadingBy John Liu, CNN (CNN) — Jimmy Kimmel opened his second night back on the late-night stage by taking on President Donald Trump’s latest attacks against him and his network ABC, describing the president as a “80s-movie-style bully.” In his opening monologue, Kimmel performed a sentence-by-sentence roast of Trump’s social media post from Tuesday, in
Continue Reading