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ABC Business News
Baby formula milk companies ‘exploit’ parents’ fears to boost sales, analysis alleges
Brandon Bell/Getty Images (NEW YORK) — Many baby formula milk companies allegedly exploit parents’ emotions and “manipulate” scientific data to boost sales, according to a major new analysis published in The Lancet. The analysis, led [Read More…]
Biden is set to propose higher taxes for the rich. Here’s how they work.
Anna Moneymaker/Getty Images (WASHINGTON) — President Joe Biden on Tuesday is expected to tout the nation’s economic health in his State of the Union Address, just days after a blockbuster jobs report showed a strong [Read More…]
Inflation fight has a ‘long way to go,’ Federal Reserve Chair Jerome Powell says
Liu Jie/Xinhua via Getty Images (WASHINGTON) — Federal Reserve Chair Jerome Powell said Tuesday that the central bank’s fight against inflation has “a long way to go,” citing a blockbuster jobs report last week that [Read More…]
Queen of Salsa, Celia Cruz, to appear on US quarter
Joshua Derr/Getty Images (NEW YORK) — The Queen of Salsa and Cuban icon Celia Cruz has been selected to appear on the U.S. quarter. Cruz, who died in 2003, was selected by the United States [Read More…]
‘This is a big deal’: What to know about the new retirement savings law
IronHeart/Getty Images (NEW YORK) — A major set of changes to the rules for retirement finances took effect this year, but many people may not have noticed. The rules were buried within a 4,000-page long, [Read More…]
AMC announces new price system based on seat location: What to know
Fuse/Getty Images (NEW YORK) — AMC Theatres announced a new ticket pricing initiative Monday that has customers paying based on where their seat is located. The initiative, called Sightline at AMC, is described by the [Read More…]
Google announces new AI program named Bard, in wake of viral ChatGPT
Jakub Porzycki/NurPhoto via Getty Images (MOUNTAIN VIEW, Calif.) — If you ever needed artificial intelligence’s help to plan a friend’s baby shower, your time has come, as Google officially unveiled an AI program it’s calling Bard, [Read More…]
United Airlines faces possible $1.15M fine from FAA over pre-flight system check
Gary Hershorn/Getty Images (NEW YORK) — United Airlines is facing a possible $1.15 million fine after allegedly conducting flights with planes that hadn’t undergone a certain safety check, federal regulators said, though United called the [Read More…]
Treasury Secretary Janet Yellen rejects recession fears, says economy is ‘strong’
ABC News (NEW YORK) — Treasury Secretary Janet Yellen rejected recession fears in an interview with ABC News’ Good Morning America on Monday, saying the economy remains “strong and resilient.” A blockbuster jobs report last [Read More…]
FTX’s new CEO tells bankruptcy court independent investigation would be a waste of money
Namthip Muanthongthae/Getty Images (NEW YORK) — FTX’s new chief executive told a bankruptcy court Monday there is “a danger” to authorizing an independent investigation of the crypto exchange’s collapse. John Ray said he had no [Read More…]
Why the job market is booming despite high-profile layoffs
Carol Yepes/Getty Images (NEW YORK) — The job market is booming despite high-profile layoffs at companies like Amazon, Microsoft, Twitter and Goldman Sachs. The economy added a staggering 517,000 jobs in January, more than double [Read More…]
Unemployment rate dips to 3.4% as 517,000 jobs added in January
Douglas Sacha/Getty Images (WASHINGTON) — U.S. employers added 517,000 jobs to their payrolls in January, the latest figures released Friday by the Labor Department show. The number of jobs added far exceeded what economists had [Read More…]
Households plunge into debt amid inflation and high interest rates
Tetra Images/Getty Images (NEW YORK) — When Karissa Warren lost her job as a kitchen manager in December, she worried about how she and her husband would continue to pay off over $10,000 in credit [Read More…]
Families sue Snapchat parent company over drug delivery deaths
ABC News (NEW YORK) — Nearly two years ago in June 2021, mom Fran Humphreys got a phone call at work that no parent wants to receive. “I was called at work and came home [Read More…]
Senator calls on Apple, Google to remove TikTok from app stores
5./15 WEST/Getty Images (WASHINGTON) — The push on Capitol Hill to rein in China-owned social media network TikTok has set its sights on tech giants Apple and Google. Sen. Michael Bennet, D-CO, sent a letter [Read More…]
Conagra Brands recalls over 2.5 million pounds of canned meat, poultry products
USDA (NEW YORK) — Conagra Brands is recalling over 2.5 million pounds of canned meat and poultry after a packaging defect that might cause contamination was found, the U.S. Department of Agriculture’s Food Safety and [Read More…]
Kia, Hyundai among models insurers refusing to cover over high-theft risk
Peerapon Boonyakiat/SOPA Images/LightRocket via Getty Images (NEW YORK) — Depending on where they live, owners of certain Hyundai and Kia models may have a hard time insuring their vehicles due to the cars’ high incidence [Read More…]
Amazon slapped with more worker safety citations amid findings of back injuries, long hours
Darren Staples/Bloomberg via Getty Images (NEW YORK) — The U.S. Department of Labor on Wednesday announced new citations at three more Amazon warehouses — in Aurora, Colorado; Nampa, Idaho; and Castleton, New York -. for [Read More…]
Fed approves 0.25% hike, softening rate increases again
Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve said Wednesday it was raising its short-term borrowing rate another 0.25%, the central bank’s second consecutive decision to slow rate increases while extending an effort to cool the [Read More…]
Fed expected to raise interest rate amid recession fears
Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve is set to announce on Wednesday whether it will impose another interest rate hike, the central bank’s latest move in a months-long fight that has eased inflation [Read More…]