ABC Business News

Westend61/Getty Images (WASHINGTON) — The Biden administration will support public assessments of generative AI systems like ChatGPT to educate the public about whether these new systems align with the administration’s “bill of rights” for AI [Read More…]

ermingut/Getty Images (NEW YORK) — The U.S. Department of Labor (DOL) fined three McDonald’s franchisees after an investigation determined that hundreds of children — including two 10-year-olds — were working there in violation of federal [Read More…]

Anna Moneymaker/Getty Images (WASHINGTON) — The Federal Reserve on Wednesday raised its short-term borrowing rate another 0.25%, escalating the central bank’s attack on inflation just two days after the forced sale of First Republic Bank. The [Read More…]

Pavlo Gonchar/SOPA Images/LightRocket via Getty Images (NEW YORK) — Major changes at Twitter under CEO Elon Musk in recent months have elicited some calls for an alternative platform. One such app, Bluesky Social, has drawn attention [Read More…]

Tetra Images/Getty Images (WASHINGTON) — Millions of Americans who rely on federal payments to make ends meet, could be negatively impacted if the government is unable to pay its bills come June 1. If allowed to [Read More…]

Narisara Nami/Getty Images (NEW YORK) — In a sea of quality job candidates, you need to make sure your resume is up to snuff and easily skimmable for recruiters to quickly decide to pull yours [Read More…]

Lev Radin/Pacific Press/LightRocket via Getty Images (NEW YORK) — Eight people and six companies have been charged in a series of indictments with pervasive fraud and corruption in the construction industry, motivated by “greed at all [Read More…]

IronHeart/Getty Images (NEW YORK) — The collapse of First Republic Bank on Monday left it under control of the U.S. government, which quickly sold the bank to JPMorgan Chase. The move aimed to shore up [Read More…]

Mel Melcon / Los Angeles Times via Getty Images (LOS ANGELES) — Unions representing thousands of Hollywood movie and television writers voted last month to authorize a strike when their contracts run out at midnight [Read More…]

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…]

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…]

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…]

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…]

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…]

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…]

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…]

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…]

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…]

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…]

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…]