ABC Business News

Cyril Marcilhacy/Bloomberg via Getty Images (NEW YORK) — A better-than-expected inflation report last week bolstered hopes that a prolonged bout of severe price hikes is near its end — but the costs of some staple items [Read More…]

CHRIS DELMAS /GETTY IMAGES (LOS ANGELES) — A union representing roughly 160,000 actors launched a strike overnight, bringing Hollywood to a standstill just two months after TV and movie writers walked off the job. Prominent [Read More…]

Carol Yepes/Getty Images (NEW YORK) — Billionaire entrepreneur Elon Musk launched an artificial intelligence company called xAI on Wednesday, vowing to develop a generative AI program that competes with established offerings like ChatGPT. The company [Read More…]

Catherine Falls Commercial/Getty Images (NEW YORK) — The founder of cryptocurrency lending platform Celsius Network was arrested Thursday on federal charges. Alexander Mashinsky founded Celsius in 2018 and positioned it as a stable, safe alternative [Read More…]

Mario Tama/Getty Images (LOS ANGELES) — The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) negotiating committee has voted unanimously to recommend a strike in a move that could incapacitate Hollywood productions. The [Read More…]

LPETTET/Getty Images (NEW YORK) — The Powerball jackpot is now an estimated $875 million for Saturday’s drawing, after no winners took home the big payday on Wednesday night. The jackpot for Wednesday night’s drawing was [Read More…]

Marko Geber/Getty Images (NEW YORK) — First there was ” quiet quitting,” then there was ” quiet hiring,” and now the latest workplace trend is “loud quitting,” new data shows. Nearly 1 in 5, or [Read More…]

Vittorio Zunino Celotto/Getty Images (NEW YORK) — The Walt Disney Company has announced that Bob Iger will remain CEO for two additional years, extending his contract through Dec. 31, 2026. The Walt Disney Company Board of [Read More…]

Barry Winiker/Getty Images (SAN FRANCISCO) — The slew of closures of retail stores in San Francisco in recent months doubles as a roundup of well-known shopping brands: Whole Foods, Old Navy and Nordstrom, among others. [Read More…]

Mario Tama/Getty Images (LOS ANGELES) — The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) is expected to strike at midnight PT if a deal between the union and studios isn’t agreed upon, a [Read More…]

Vittorio Zunino Celotto/Getty Images (NEW YORK) — The Walt Disney Company has announced that Bob Iger will remain CEO for two additional years, extending his contract through Dec. 31, 2026. The Walt Disney Company Board of [Read More…]

Barry Winiker/Getty Images (SAN FRANCISCO) — The slew of closures of retail stores in San Francisco in recent months doubles as a roundup of well-known shopping brands: Whole Foods, Old Navy and Nordstrom, among others. [Read More…]

LPETTET/Getty Images (NEW YORK) — The Powerball jackpot has grown to $750 million for Wednesday night’s drawing — the game’s sixth-largest prize ever. The top prize has a cash value of $378.8 million. The Powerball [Read More…]

The Mendoza Family (NEW YORK) — Meet Madison! The 9-month-old has been named the 2023 Gerber “Spokesbaby” and winner of the baby food brand’s latest photo search contest, according to Gerber. In a press release, [Read More…]

Javier Ghersi/Getty Images (WASHINGTON) — Consumer prices rose 3% last month compared to a year ago, marking a significant slowdown and raising hopes that a prolonged bout of heightened inflation is nearing its end. The [Read More…]

Javier Ghersi/Getty Images (WASHINGTON) — Inflation data to be released on Wednesday will show whether the U.S. economy extended a monthslong cooldown of price increases in June, offering further relief for consumers and welcome news [Read More…]

Spencer Platt/Getty Images, FILE (NEW YORK) — Bank of America was ordered to pay more than $100 million to customers for double-charging accounts with insufficient funds, denying reward payments to credit card holders and using [Read More…]

LPETTET/Getty Images (NEW YORK) — The Powerball jackpot for Wednesday’s drawing rose to $725 million after no one won on Monday. A single winner would take home an estimated $366.2 million cash option before taxes [Read More…]

LPETTET/Getty Images (NEW YORK) — The Powerball jackpot for Monday’s drawing rose to $675 million after no one won on Saturday. A single winner would have taken home an estimated $340.9 million cash option before [Read More…]

Yuichiro Chino/Getty Images (NEW YORK) — Negotiations broke down this week between UPS and its Teamster-represented workers, weeks before their contract is set to expire. As a potential strike looms, UPS workers across the country [Read More…]