ABC Business News

Grace Cary/Getty Images (WASHINGTON) — Two Senate Democrats up for reelection introduced a bill on Wednesday to temporarily suspend the federal gas tax through the end of 2022, as millions of Americans grapple with the [Read More…]

Ezra Shaw/Getty Images (NEW YORK) — Peloton announced Tuesday a major leadership shakeup and a plan to cut costs that includes laying off some 2,800 employees. The announcement comes as the pandemic wanes in the [Read More…]

Pavlo Gonchar/SOPA Images/LightRocket via Getty Images (WASHINGTON) — The Justice Department on Tuesday announced the arrests of a New York couple charged with conspiring to launder cryptocurrency presently valued at $4.5 billion — stolen during [Read More…]

Michael Godek/Getty Images (NEW YORK) — The recent tensions between Russia and Ukraine are affecting Americans at the pump. Prices for oil are now at their highest level in eight years. “Russia still supplies some [Read More…]

Getty Images/Carmen Mandato (NEW YORK) — Even in the face of mounting backlash, streaming giant Spotify is standing by embattled podcast host Joe Rogan. While the controversy initially centered around the spread of COVID-19 misinformation [Read More…]

CT757fan/Getty Images (DENVER) — Low-cost carriers Frontier Airlines and Spirit Airlines announced plans on Monday to merge, which would create ​the fifth-largest U.S. airline by revenue passenger miles. The deal, which is valued at more [Read More…]

ArtistGNDphotography/Getty Images (DALLAS) — With Valentine’s Day just one week away, the rush is on to get that special someone something special. But if flowers are a part of your gift, you’d better act fast [Read More…]

BojanMirkovic/Getty Images (NEW YORK) — Black History Month is here, and many retailers are not only celebrating, but also amplifying and giving back to Black communities in beautiful ways. From big-box retailers such as Walmart [Read More…]

Spencer Platt/Getty Images (NEW YORK) — Rupert Murdoch-owned media conglomerate NewsCorp was hit with a cyberattack, and a leading cybersecurity firm, Mandient, brought in to investigate concluded the activity was likely from China, NewsCorp said [Read More…]

ABC News (NEW YORK) — In the United States, Black families have an estimated one-eighth of the wealth that white families have, according to research from the McKinsey Institute of Black Economic Mobility. Federal policies, [Read More…]

Eric Lee/Bloomberg via Getty Images (WASHINGTON) — After the worst year in history for unruly airline passengers, Delta’s CEO is asking the Department of Justice to help create a national “no-fly” list for anyone convicted [Read More…]

David Paul Morris/Bloomberg via Getty Images (NEW YORK) — Southwest flight attendants are “outraged” after the airline announced on Thursday that it is planning to resume on-board alcohol sales in two weeks. The airline had [Read More…]

PATRICK T. FALLON/AFP via Getty Images (NEW YORK) — It was dubbed a watershed moment for the withering organized labor movement when the first-ever union election at an Amazon warehouse took place last spring in [Read More…]

Starbucks (NEW YORK) — Starbucks will continue to raise prices in 2022 due to a combination of labor costs and supply chain disruptions. The Seattle-based coffee giant announced Tuesday that between a rising cost of [Read More…]

IronHeart/Getty Images (DALLAS) — A monster winter storm is fueling the worst travel day of the year — with more than 4,000 flights canceled Thursday morning as of 10 a.m. per FlightAware. This is the [Read More…]

Michael Nigro/Pacific Press/LightRocket via Getty Images, FILE (NEW YORK) — The family that owns Purdue Pharma is “close” to an agreement that substantially increases its financial contribution to a nationwide opioids settlement, according to a [Read More…]

iStock/koto_feja (NEW YORK) — After managing to avoid the same level of scrutiny as fellow tech giants such as Twitter and Facebook for years, streaming service Spotify has now found itself at the center of [Read More…]

Andreas Rentz/Getty Images for Marc Cain (NEW YORK) — Veganuary is over, but that doesn’t mean your sustainable fashion journey has to be. The Veganuary challenge was created by a UK nonprofit of the same [Read More…]

KIA (NEW YORK) — Looking to buy a new Kia Telluride sport utility vehicle? Expect to pay $48,509 — more than $3,700 above the manufacturer’s suggested retail price. Luxury SUVs like the Range Rover ($117,890) [Read More…]

Jakub Porzycki/NurPhoto via Getty Images (NEW YORK) — Facebook’s announcement in October that it was further embracing the metaverse and rebranding itself as Meta set off a firestorm. While experts say the metaverse is still [Read More…]