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ABC Business News
2 million air fryers recalled due to fire and burn hazards
US CPSC (NEW YORK) — Two million Cosori Air Fryers have been recalled due to fire and burn hazards, the U.S. Consumer Product Safety and Commission announced in a press release Thursday. About 250,000 air [Read More…]
FTX founder Sam Bankman-Fried faces four new charges
ABC News (NEW YORK) — Disgraced FTX founder Sam Bankman-Fried faces four additional criminal charges of conspiracy contained in a superseding indictment unsealed Thursday. The new charges include conspiracy to commit bank fraud and conspiracy [Read More…]
One year in, how pro-Russia online campaigns evolved
Westend61/Getty Images (NEW YORK) — One year into the full-scale invasion of Ukraine by Russia, a new report by the social media company Meta details the evolution of pro-Russian influence campaigns online. The report describes [Read More…]
Majority of companies, employees say they want to keep 4-day workweek after trying it, study finds
Helen King/Getty Images (NEW YORK) — A pilot program that involved nearly 3,000 employees testing out a four-day workweek is giving new hope to those seeking to change the way people work. Over 90% of [Read More…]
What to know about Microsoft’s controversial Bing AI chatbot
Carol Yepes/Getty Images (NEW YORK) — Microsoft search engine Bing, long overshadowed by Google but newly enhanced with artificial intelligence for some users, can suggest recipes for a multi-course meal or disentangle the nuances of [Read More…]
Three new Reese’s doughnuts debut at Krispy Kreme
Krispy Kreme (NEW YORK) — Reese’s fans know and love the sweet and salty flavors of a chocolate peanut butter cup, and now the candy is being added to another delicious confection: Krispy Kreme doughnuts. [Read More…]
Plant-based baby formula recalled over possible contamination
FDA (NEW YORK) — Reckitt, a British consumer goods company, said it would recall two batches of plant-based infant formula they produce due to “a possibility of cross-contamination with Cronobacter sakazakii.” The product, ProSobee Simply [Read More…]
Meta announces verification subscription service for Facebook and Instagram users
Chesnot/Getty Images (NEW YORK) — Meta, the parent company of Facebook and Instagram, announced a new paid subscription for its platforms on Sunday, which, among other features, would allow users to pay for a verified [Read More…]
Abbott under investigation by SEC and FTC for infant formula business
Tayfun Coskun/Anadolu Agency via Getty Images (NEW YORK) — Abbott is being investigated by the Securities and Exchange Commission, as well as the Federal Trade Commission, in relation to their infant formula business, the company [Read More…]
Controversial firings follow Tesla union launch. Will the organizing effort win?
Justin Sullivan/Getty Images (NEW YORK) — When a group of Tesla workers at a factory in Buffalo launched a union organizing effort this week, it thrust employees into a high-profile standoff with a company led by [Read More…]
US credit card debt now totals nearly $1 trillion
Adam Gault/Getty Images (NEW YORK) — U.S. consumer credit card debt has jumped to nearly $1 trillion, the Federal Reserve Bank of New York said on Thursday. Credit card balances increased more than $60 billion [Read More…]
Difficult growing season in Florida plagues price of orange juice
Yulia Naumenko/Getty Images (NEW YORK) — Oranges are synonymous with Florida, but between extreme weather and widespread citrus disease in the sunshine state, the fruit has failed to produce the same yield as years past, [Read More…]
Starbucks Vanilla Frappuccino bottles recalled due to some drinks possibly containing glass
Starbucks/Amazon (NEW YORK) — PepsiCo, which releases bottled Starbucks coffee drinks, has announced a recall for one of its products. Select lots of 13.7-ounce glass bottled Starbucks Frappuccino Vanilla drinks have been voluntarily recalled, a [Read More…]
The prices of these products have dropped, defying high inflation
Mario Tama/Getty Images (NEW YORK) — Inflation has eased in recent months but remains sky-high, especially for some household items like eggs and flour. Price hikes for other products, however, have not only slowed but [Read More…]
Judge raises possibility of revoking Sam Bankman-Fried’s bail over possible witness tampering
Stephanie Keith/Bloomberg via Getty Images (NEW YORK) — A federal judge in New York on Thursday raised the possibility of revoking bail and remanding Sam Bankman-Fried into custody for possible witness tampering but opted to [Read More…]
Tesla recalling more than 360,000 cars over potential crash risk, agency says
Robert Alexander/Getty Images (WASHINGTON) — Tesla is recalling up to 362,758 cars equipped with its Full Self-Driving Beta software or pending installation over concerns it can increase the risk of a crash, the National Highway [Read More…]
Deputy attorney general warns against using TikTok, citing data privacy
5./15 WEST/Getty Images (LONDON) — Deputy Attorney General Lisa Monaco on Thursday warned against using TikTok, citing data security issues raised about the China-owned app. “I don’t use TikTok and I would not advise anybody [Read More…]
US risks default as soon as July unless debt ceiling is raised, financial agency estimates
Chip Somodevilla/Getty Images (WASHINGTON) — The U.S. risks defaulting on its debts as early as July unless the borrowing limit is raised, the nonpartisan Congressional Budget Office said in a report on Wednesday. The federal [Read More…]
What is ESG investing and why are some Republicans criticizing it?
Matteo Colombo/Getty Images (NEW YORK) — The culture wars, fought nationwide in school board meetings and college classrooms, have entered a new arena: Wall Street. A sharp political divide has emerged over environmental, social and [Read More…]
Tesla to open some of its charging stations, as Biden seeks to expand US network
contrastaddict/Getty Images (NEW YORK) — Tesla plans to open a portion of its U.S. charging network to competing electric vehicle makers, the Biden administration said on Wednesday. The carmaker plans to open about 7,500 charging [Read More…]