The Justice Department and several states are expected to file a lawsuit as soon as this week against Live Nation, citing alleged antitrust violations, a source says cnn.it/3wDmLmW

First on CNN: House Democrats have launched an investigation into whether Exxon, Chevron & others illegally colluded with OPEC to inflate prices at the pump.

Rep. Frank Pallone is demanding documents from $XOM, $CVX, Occidental, Hess, Devon, $BP & Shell
cnn.com/2024/05/22/inv… #OOTT

Great explainer from ⁦Matt Egan⁩

New report warns of economic implications of Trump’s trade plans on Americans | CNN cnn.com/2024/05/21/wor…

1 in 7 Gen Z credit card users are ‘maxed out’ via Matt Egan

'Most commentators discuss a soft landing for *the* economy but latest evidence on credit conditions points to multiple consumers affected to different degrees by higher cost/interest rates”
cnn.com/2024/05/17/bus…

New: Trump Media & Technology Group lost more than $300 million during the first quarter and generated very little revenue, the owner of Truth Social announced in a press release. The results raise additional questions about the multi-billion dollar valuation of the company,

FDIC Chair Martin Gruenberg will resign following a scathing investigation that detailed a toxic workplace cnn.it/3KaIhm3

NEW: Trump Media & Technology Group lost more than $300 million during the first quarter.

The Truth Social owner generated less than $1M in revenue.

cnn.com/2024/05/20/bus… $DJT

NEW: Senate Banking Chair Sherrod Brown calls for new leadership at the FDIC.

Brown calls for President Biden to immediately nominate a new FDIC chair after reviewing independent report & 'receiving further outreach from FDIC employees.'

Red Lobster, a pioneering restaurant that brought affordable seafood to middle-class America, files for bankruptcy cnn.it/4axHrdM

The Dow Jones Industrial Average has closed above the 40,000 mark for the first time in its 139-year history cnn.it/3UTPNa2

NEW: Fed Chair Powell tested positive for Covid-19 late yesterday and is experiencing symptoms, Fed spokesperson says.

Per CDC, Powell is 'staying away from others and working from home,' Fed says. Powell still plans to give commencement address Sunday via recorded video

Bank of America warns that Wall Street is 'getting too excited' about rate cuts & investors are 'likely to be disappointed (again).'

'Absent a major shock, there is no strong argument to cut rates any time soon.'

On inflation data: 'Better-than-expected doesn't mean good.'

Biden’s trade chief walks back comments contradicting Biden on tariffs & inflation

A person familiar with the matter told CNN US Trade Representative Tai “misspoke” when she said the link between tariffs and prices has been debunked.
with Kayla Tausche
cnn.com/2024/05/16/bus…

NEW: WH says new tariffs won't raise costs further because they apply to small share of Chinese imports - even as officials say original tariffs did drive prices higher.

But foreign policy - and the need to retain leverage over Beijing - outweighed cost considerations.

w/

NEW: The Dow just crossed 40,000 for the first time.

Inflation remains a problem but this market milestone reflects optimism about a soft landing and rate cuts from the Fed.

The Biden campaign was quick to send out an email blast celebrating the milestone. more with Becky Anderson

US consumer inflation slowed in April, providing a glimmer of hope for Americans worn down by elevated prices cnn.it/4aoxGP9

Boeing may be prosecuted after breaking a safety agreement that prevented the company from being criminally charged for 737 crashes, the DOJ says cnn.it/3ynA2Ar

Biden to increase tariffs on $18 billion in Chinese imports in a new warning to Beijing
cnn.it/3UZk0FP

ChatGPT maker OpenAI unveils a new artificial intelligence model that it says will be easier and more intuitive to use cnn.it/4betClP

Florida A&M pauses purported $237.75 million donation after questions about validity | CNN Business cnn.com/2024/05/11/bus…