ABC Business News

FDA (NEW YORK) — Over 675,000 cans of baby formula are being recalled for possible bacterial contamination, the company announced. Reckitt and Mead Johnson Nutrition, the makers of Enfamil and Nutramigen, announced Saturday it was [Read More…]

Jon Challicom/Getty Images (NEW YORK) — The recent headlines for electric vehicles have been brutal: Sales are dropping. Momentum is slipping. Consumers are souring on the technology. Experts say, however, that 2024 may be the [Read More…]

Matteo Colombo/Getty Images (NEW YORK) — Wildfire smoke bathed New York City’s front-line workers in fumes, atmospheric rivers forced hundreds of thousands of California homes into darkness, and hurricane Idalia battered tourism in Florida. Natural [Read More…]

Brandon Bell/Getty Images (LOS ANGELES) — With the minimum wage in California increasing to $20 an hour for fast food workers in 2024, some Pizza Hut franchisees say they’re preparing to eliminate jobs as well [Read More…]

Carol Yepes/Getty Images (NEW YORK) — Amazon will begin displaying advertisements in movies and TV shows on its Prime Video streaming service next month, the company said in an email to subscribers this week viewed [Read More…]

lechatnoir/Getty Images (NEW YORK) — Consumer spending grew solidly this holiday season, rebuking concerns of a slowdown and reinforcing positive signals about the U.S. economy as it approaches the end of a tumultuous year. Buying [Read More…]

ArtistGNDphotography/Getty Images (NEW YORK) — Greg Iwinski, a late-night TV writer, walked off the job this year amid a dramatic surge of workers going out on strike — and he says the trend made its [Read More…]

Chris Sattlberger/Getty Images (NEW YORK) — Inflation is falling toward normal levels, according to fresh data released Friday from the Federal Reserve’s preferred measure, the Personal Consumption Expenditures price index. The information is the latest [Read More…]

Forever Stamp display at Costco, Queens, New York on March 1, 2023. UCG/Universal Images Group via Getty Images, FILE (NEW YORK) — While we welcome the new year, we’ll also be welcoming an increase in [Read More…]

Wells Fargo logo is seen on the building in Los Angeles, United States. Credit: NurPhoto/Getty Images (NEW YORK) — Workers at a Wells Fargo branch in New Mexico voted to form a union late Wednesday, [Read More…]

Boxes of General Mills cereal are displayed on a grocery store shelf on Dec. 20, 2023 in San Anselmo, Calif. (Justin Sullivan/Getty Images) (NEW YORK) — Breakfast foods maker General Mills, the brand behind familiar [Read More…]

Westend61/Getty Images (NEW YORK) — Drugstore chain Rite Aid has accepted a ban of its use of facial recognition software for five years due to false accusations stemming from the technology that disproportionately affected people [Read More…]

ivanastar/Getty Images (NEW YORK) — The famously “closed on Sundays” chicken sandwich fast-food chain could soon be required to fire up the fryers and serve hungry travelers in some locations. The New York State Assembly [Read More…]

USDA.gov (NEW YORK) — Approximately 26,550 pounds of frozen TGI Fridays boneless chicken bites products have been recalled due to possible contamination with “clear, hard plastic,” the U.S. Department of Agriculture’s Food Safety and Inspection [Read More…]

Javier Ghersi/Getty Images (NEW YORK) — When the Federal Reserve recently signaled interest rate cuts next year, the stock market soared to record highs and analysts voiced sunny hopes of a “soft landing.” Arriving less [Read More…]

Westend61/Getty Images (NEW YORK) — Mortgage and loan giant Mr. Cooper was hit with a cyberbreach that involved “substantially all of our current and former customers” sensitive personal information, according to filings with state and [Read More…]

WIN-Initiative/Neleman/Getty Images (NEW YORK) — Nikola founder Trevor Milton was sentenced to four years in prison Monday due to fraudulent claims about his electric vehicle company. In court Monday, Milton portrayed himself as a generous [Read More…]

ftwitty/Getty Images (NEW YORK) — Apple will halt sales of new models of its smartwatch due to a patent dispute, the company announced on Monday. The move, which affects Apple Watch Series 9 and Apple [Read More…]

BanksPhotos/Getty Images (WASHINGTON) — Southwest Airlines has been handed a record $140 million fine for its operational meltdown during the 2022 holiday travel season, the U.S. Department of Transportation said Monday. The civil penalty leveled [Read More…]

Cavan Images/Getty Images (NEW YORK) — The Quaker Oats Company has recalled dozens of granola products due to the risk of potential salmonella contamination. The recall impacts more than 40 granola bar and granola cereal [Read More…]