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ABC Business News
Expert travel tips for planning a family summer vacation
Greg Bajor/Getty Images (NEW YORK) — Summer is less than two months away so it’s high time to lock in any family vacation plans to avoid breaking the bank. ABC News’ Good Morning America tapped [Read More…]
First Republic bank collapses, JPMorgan to take over, FDIC says
Justin Sullivan/Getty Images (NEW YORK) — First Republic Bank has become the third bank to fail in recent months and the giant JPMorgan Chase will assume all of its assets, according to the Federal Deposit [Read More…]
Is the banking crisis over? Experts weigh in after First Republic Bank shares plunge
Photo by Justin Sullivan/Getty Images (NEW YORK) — Turmoil in the financial system returned this week as shares of First Republic Bank, the nation’s 14th-largest lender, plummeted more than 75%. The selloff took hold after the [Read More…]
Kia and Hyundai owners now face new struggle: Getting parts for their stolen cars
Sjoerd van der Wal/Getty Images (NEW YORK) — Kia and Hyundai owners whose cars were damaged or stolen in the wake of a social media video teaching people how to easily steal the cars are now [Read More…]
Federal Reserve says it ‘failed’ in run up to Silicon Valley Bank collapse
Bloomberg Creative/Getty Images (NEW YORK) — The Federal Reserve failed in its role as banking industry watchdog in the run up to the collapse of Silicon Valley Bank, the central bank said on Friday. The [Read More…]
What GDP is and why it matters?
Javier Ghersi/Getty Images (NEW YORK) –The threat of a looming recession has heightened interest in the most commonly used measure of economic health: Gross domestic product, or GDP. The metric commands attention as an all-in-one [Read More…]
Famous Wendy’s chili now coming to the canned aisle in grocery stores
Mike Kemp/In Pictures via Getty Images (NEW YORK) — An iconic Wendy’s menu item will soon be available to consumers without pulling up to a drive-thru window. On Wednesday, Wendy’s announced a partnership with Conagra [Read More…]
Fed Chair Jerome Powell duped by Russian tricksters pretending to be Zelenskyy on prank call
Bloomberg Creative/Getty Images (WASHINGTON) — Federal Reserve Chair Jerome Powell spoke over the phone with two Russian pranksters falsely posing as Ukrainian President Volodymyr Zelenskyy, the central bank confirmed to ABC News on Thursday. The [Read More…]
US economic growth slowed significantly at start of 2023
Javier Ghersi/Getty Images (WASHINGTON) — The U.S. economy slowed at the start of 2023, suggesting that an aggressive series of interest rate hikes at the Federal Reserve has cooled business activity even as the stock [Read More…]
The Container Store will accept Bed Bath & Beyond coupons through May
KenWiedemann/Getty Images (NEW YORK) — On the heels of Bed Bath and Beyond filing for bankruptcy and planning to close all of its stores, The Container Store has good news for customers with excess blue [Read More…]
Why having good credit could cost you more on a home mortgage
Phillip Spears/Getty Images (NEW YORK) — If you’re looking to buy a home, new federal rules may impact how much you pay for a mortgage. Beginning May 1, upfront fees for loans backed by Fannie [Read More…]
Supreme Court takes on what critics call predatory tax foreclosure practice
Walter Bibikow/Getty Images (WASHINGTON) — After saving up for three years during which they sometimes worked 80 hours a week, Tawanda Hall and her husband purchased their dream home in the suburbs of Detroit in [Read More…]
How Tucker Carlson’s exit could financially impact Fox Corporation, according to experts
Jason Koerner / Stringer/Getty Images (NEW YORK) — The seismic exit of Fox News host Tucker Carlson this week elicited reaction from politicians as varied as former President Donald Trump and Rep. Alexandria Ocasio-Cortez, D-N.Y. [Read More…]
Disney sues Florida Gov. Ron DeSantis and officials over ‘targeted campaign of government retaliation’
Aitor Diago/Getty Images (NEW YORK) — Disney filed a lawsuit Wednesday in U.S. District Court against Florida Gov. Ron DeSantis and various Florida officials over a campaign the company alleges was “patently retaliatory, patently anti-business, [Read More…]
TikTok’s niche communities face an uncertain future from a potential ban
Hyoung Chang/The Denver Post (NEW YORK) — What happens when a social media company succeeds at building a community, then threatens to destroy what its users spent years building? Devoted users of TikTok face that [Read More…]
Chevrolet to end production of the Bolt, America’s cheapest new electric vehicle
Jon Challicom/Getty Images (NEW YORK) — Chevrolet is saying bye-bye to the Bolt. The Chevy Bolt hatchback, as well as its crossover Bolt EUV sibling, will cease production this year, General Motors has confirmed to [Read More…]
World’s second-largest tobacco company to pay over $600 million for violating sanctions against North Korea
Al Drago/Bloomberg via Getty Images (WASHINGTON) — The world’s second-largest tobacco company has agreed to pay what the Department of Justice is saying is “the single largest North Korean sanctions penalty in the history of the [Read More…]
First Republic Stock plummets nearly 50% as banking trouble deepens
Anton Petrus/Getty Images (NEW YORK) — Shares of First Republic Bank plummeted nearly 50% on Tuesday as the banking crisis continued to ripple through the financial system. The regional lender, left in dire condition after the [Read More…]
First Republic Stock plummets 25% as banking trouble deepens
Anton Petrus/Getty Images (NEW YORK) — Shares of First Republic Bank plummeted more than 25% in early trading on Tuesday as the banking crisis continued to ripple through the financial system. The regional lender, left [Read More…]
High-yield savings accounts surge amid shaky stock market, experts say
IronHeart/Getty Images (NEW YORK) — Tech giant Apple last week announced a buzzy product release — but it wasn’t a new version of its iPhone or virtual reality headset. Rather, the company offered its first [Read More…]