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ABC Business News
Two Lunchables approved for National School Lunch Program to be served at cafeterias next year
Kraft Heinz (NEW YORK) — Lunchables are ready for their first day of school. In tandem with the National School Lunch Program, the ready-to-eat packaged Lunchables kits, made by Kraft Heinz, have been approved to [Read More…]
New Churro Dipped Cone and Saint Patrick’s Day treats at Dairy Queen
Dairy Queen (NEW YORK) — There’s a new sweet treat on the menu at Dairy Queen for a limited time. The ice cream chain, known for its soft serve cones dipped in a quick-hardening shell, [Read More…]
Silicon Valley Bank marketed itself as a climate tech-friendly bank. How will its collapse impact the industry?
Jakub Porzycki/NurPhoto via Getty Images (NEW YORK) — Silicon Valley Bank’s failure on Friday raises concerns over the potential impacts on the climate technology industry, where SVB was heavily involved. “They went out of their way [Read More…]
Silicon Valley Bank: How a digital bank run accelerated the collapse
Andrea Ronchini/NurPhoto via Getty Images (NEW YORK) — The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, took place over less than 48 hours. Customers withdrew $42 billion — nearly a quarter [Read More…]
Justice Department, SEC probing collapse of Silicon Valley Bank: Sources
Thinkstock/Getty Images (WASHINGTON) — The Justice Department and Securities and Exchange Commission are probing the collapse of Silicon Valley Bank, according to two people familiar with the situation. The probes, which are separate, are in [Read More…]
Woman says she fought for equal pay after seeing she earned $90k less for same role
MJHollinshead/Getty Images (NEW YORK) — A New York City woman has gone viral for tweeting about her fight for equal pay. Kimberly Nguyen, a 25-year-old user experience writer, tweeted earlier this month that she saw [Read More…]
Is this a banking crisis? What to know about the Silicon Valley Bank collapse
Justin Sullivan/Getty Images (NEW YORK) — The largest bank failure since the 2008 crisis has triggered a major U.S. government intervention to protect the financial system. Silicon Valley Bank, the nation’s 16th largest bank, collapsed [Read More…]
Americans lost $10.3 billion to internet scams in 2022, the FBI says
Witthaya Prasongsin/Getty Images (WASHINGTON) — Americans lost $10.3 billion to a wide variety of internet scams last year, according to an FBI report released this month. The losses were the highest in five years, according [Read More…]
Silicon Valley Bank collapse: Treasury, Fed and FDIC announce steps to ensure deposits will be paid in full
Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced Sunday that they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, [Read More…]
DOT to send proposed legislation to Congress to ban family seating fees on flights
EllenMoran/Getty Images (WASHINGTON) — The Department of Transportation will send proposed legislation to Congress Monday asking legislators to ban so-called family seating fees on flights. The proposal follows calls from President Joe Biden to get [Read More…]
Silicon Valley Bank UK purchased for £1 by HSBC with plan to protect deposits
PM Images/Getty Images (LONDON) — Silicon Valley Bank UK is being acquired by HSBC in a £1 deal that will protect deposits, the United Kingdom’s chancellor and HSBC said on Monday. “This morning, the Government [Read More…]
Taxpayers could see 1st ‘normal filing season’ in years
Photography by Phillip Rubino/Getty Images (NEW YORK) — You could say the Internal Revenue Service is undergoing a Renaissance. After years of criticism for being inefficient and antiquated, the IRS has spent nearly $1 billion to [Read More…]
YETI recalls 1.9 million soft coolers, gear cases over magnet ingestion hazard
Consumer Product Safety Commission (NEW YORK) — The U.S. Consumer Product Safety Commission on Thursday announced a recall of 1.9 million YETI cooler products. The recall impacts four of YETI’s products: the Hopper M20 backpack [Read More…]
Some models of Safety 1st and Maxi-Cosi car seats recalled
Guido Mieth/Getty Images (NEW YORK) — Dorel Juvenile Group announced a voluntary recall of 59,450 rear-facing infant car seats due to concerns over the seat anchoring system that “fails to conform” to safety standards for [Read More…]
Over 3 million Calico Critter toys recalled after 2 deaths reported
Epoch Everlasting Play via CPSC (NEW YORK) — The maker behind the popular Calico Critter toys said Thursday that it is recalling millions of toys with parts that may pose a choking hazard for children. [Read More…]
Keystone pipeline faces new rules after major oil spill
Gavin John/Bloomberg via Getty Images (WASHINGTON) — Oil spills along the Keystone pipeline that runs from Canada to Texas have become more frequent and severe, prompting stricter regulations for a 1,200-mile stretch of the pipeline, [Read More…]
Car repair prices are rising much faster than overall inflation. Here’s why.
Witthaya Prasongsin/Getty Images (NEW YORK) — When Pat Clynes pushed down the gas pedal on his Ford Explorer during a drive in Houston, Texas, in July 2022, an otherwise routine day became the start of [Read More…]
New gov’t cybersecurity strategy rolls out amid AI buzz, concerns it could be abused by criminals
Getty Images/d3sign (NEW YORK) — The Biden administration is moving to implement a new national security strategy focused on stopping hackers, as buzz around artificial intelligence tools raises concern among some experts that criminals may [Read More…]
Elon Musk publicly mocks laid-off Twitter employee with a disability. Then apologizes.
Anadolu Agency via Getty Images (NEW YORK) — Locked out of his work computer for more than a week, a two-year Twitter employee didn’t know whether he’d been laid off. So he asked CEO Elon [Read More…]
FTC’s new rule could end noncompete agreements for millions of workers
Maskot/Getty Images (NEW YORK) — For nearly four years, Arizona realtor Courtney Van Cott has been consumed by a legal battle involving a noncompete agreement. “You just have this cloud over you every single day,” [Read More…]