ABC Business News

Photo by Mike Kline (notkalvin)/Getty Images (WASHINGTON) — A high-stakes standoff between the U.S. government and social media app TikTok over a potential ban is set for a reckoning on Thursday when TikTok CEO Shou [Read More…]

Nikolas Kokovlis/NurPhoto via Getty Images (NEW YORK) — Foot Locker plans to close 400 stores in North America by 2026 as it rebrands part of its business, the company announced Monday. The company plans to close [Read More…]

Photo by Mike Kline (notkalvin)/Getty Images (WASHINGTON) — A high-stakes standoff between the U.S. government and social media app TikTok over a potential ban is set for a reckoning on Thursday when TikTok CEO Shou [Read More…]

Nikolas Kokovlis/NurPhoto via Getty Images (NEW YORK) — Foot Locker plans to close 400 stores in North America by 2026 as it rebrands part of its business, the company announced Monday. The company plans to close [Read More…]

Alex Wong/Getty Images (WASHINGTON) — Federal Reserve Chair Jerome Powell on Wednesday called the U.S. banking system “strong and resilient,” voicing confidence in the nation’s financial system and the safety of bank deposits less than two [Read More…]

Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve on Wednesday raised its short-term borrowing rate another 0.25%, intensifying the central bank’s fight against inflation despite concern that previous rate increases helped trigger the nation’s banking crisis. [Read More…]

Bloomberg Creative/Getty Images (WASHINGTON) — Policymakers and investors will closely watch a decision from the Federal Reserve on Wednesday about whether to raise interest rates as the U.S. economy weathers two pressing challenges: a banking [Read More…]

ABC News (NEW YORK) — TikTok is facing growing scrutiny from government officials over cybersecurity fears about Americans’ data. U.S. officials are reportedly demanding that Chinese owners sell its stake in the app or risk a [Read More…]

ANDREW CABALLERO-REYNOLDS/AFP via Getty Images (WASHINGTON) — Treasury Secretary Janet Yellen said Tuesday that “the situation is stabilizing and the U.S. banking system remains sound,” after regional bank failures have shaken the U.S. banking system. [Read More…]

Phillip Spears/Getty Images (NEW YORK) — As fallout continues from the Silicon Valley Bank collapse — the second-biggest bank failure in U.S. history — people across the country are simultaneously feeling the impact of inflation [Read More…]

ANDREW CABALLERO-REYNOLDS/AFP via Getty Images (WASHINGTON) — Treasury Secretary Janet Yellen plans to say during a speech on Tuesday that “the situation is stabilizing and the U.S. banking system remains sound,” according to excerpts of [Read More…]

Javier Ghersi/Getty Images (NEW YORK) — The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, has thrust the financial system into distress, pulling attention away from a separate problem: sky-high inflation. [Read More…]

Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve was aware of risks to Silicon Valley Bank more than a year before its collapse, ABC News confirmed on Monday following a New York Times report. Even [Read More…]

Westend61/Getty Images (NEW YORK) — Let’s be honest: electric vehicles can get a bad rap. Maybe it’s range anxiety. Or the scarcity — and uncertainty — of public charging stations. Both are valid reasons why [Read More…]

Mario Tama/Getty Images (NEW YORK) — Awkward dads and their eager children may not dance together on TikTok for much longer — at least not in the U.S. The prospect of a nationwide TikTok ban has [Read More…]

IronHeart/Getty Images (NEW YORK) — A string of bank collapses in recent days sent panic rippling through the financial sector, prompting an extraordinary U.S. government intervention to save depositors and a sharp drop for bank [Read More…]

Witthaya Prasongsin/Getty Images (NEW YORK) — SVB Financial Group and top executives have been named in a federal lawsuit amid the collapse of Silicon Valley Bank, the largest bank failure since the 2008 financial crisis. [Read More…]

Anton Petrus/Getty Images (NEW YORK) — An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse. The State Teachers [Read More…]

ABC News (NEW YORK) — The CEO behind the company that created ChatGPT believes artificial intelligence technology will reshape society as we know it. He believes it comes with real dangers, but can also be [Read More…]

Daniel Acker/Bloomberg via Getty Images (NEW YORK) — Ford announced this week that it is recalling more than 1.2 million of its vehicles over a serious issue with its brake fluid hoses. The National Highway [Read More…]