ABC Business News

(Anton Petrus/Getty Images) (NEW YORK) — While Elon Musk has vaulted into a powerful role overhauling government agencies and upending Washington, the world’s richest person has suffered a $106 billion drop in wealth due to [Read More…]

Frederic J. Brown/AFP via Getty Images (NEW YORK) — Consumer prices rose 3% in January compared to a year ago, ticking up from the previous month and posing an obstacle for Trump administration tariff policies [Read More…]

Chip Somodevilla/POOL/AFP via Getty Images (NEW YORK) — An Elon Musk ally hired to overhaul the U.S. Department of Treasury has a lengthy record of undertaking hardline reforms in the private sector that demoralized staff [Read More…]

(Bundit Minramun/Getty Images) (NEW YORK) — Quiksilver, Billabong, and Volcom, known for their surf and skate products, are closing stores in the United States. The parent company of the brick-and-mortar stores, Liberated Brands, filed voluntary [Read More…]

Andrew Harnik/Getty Images (WASHINGTON) — Housing prices are soaring twice as fast as overall inflation. The average rate on a 30-year mortgage topped 7% in January for the first time since last spring. Observers as disparate [Read More…]

Logan Cyrus/Bloomberg via Getty Images (WASHINGTON) — Autoworkers, farmers and alcohol distillers are among a set of U.S. workers who risk losing their jobs as a result of potential tariffs on Canada, China and Mexico, [Read More…]

lvcandy/Getty Images (NEW YORK) — The stock market fell on Monday after President Donald Trump slapped tariffs on Canada, Mexico and China, eliciting threats of retaliation and setting the stage for a trade war. The [Read More…]

(Westend61/Getty Images) (WASHINGTON) — Tariffs on goods from Mexico and Canada that are set to take effect could hike the price of a gallon of gasoline for some drivers by as much as 70 cents [Read More…]

Al Drago/Bloomberg via Getty Images (WASHINGTON) — The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central [Read More…]

Chip Somodevilla/Getty Images (WASHINGTON) — The Federal Reserve on Wednesday will announce its latest decision setting the level of interest rates, just days after President Donald Trump called on the central bank to lower them. [Read More…]

Nvidia CEO Jensen Huang/ Photo Credit: PATRICK T. FALLON/AFP via Getty Images (NEW YORK) — The emergence of China-based AI app DeepSeek sent shares plummeting on Monday for many U.S. tech giants, including chipmaker Nvidia [Read More…]

(Steve Heap/Getty Images) (NEW YORK) — While some companies are steering away from diversity, equity, and inclusion (DEI) policies, others are sticking with their previous commitments. Leaders at Goldman Sachs, Costco and JPMorgan Chase & [Read More…]

Chip Somodevilla/Getty Images/Bloomberg via Getty Images (WASHINGTON) — President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at [Read More…]

Michael Tran/AFP via Getty Images (NEW YORK) — Shares of Netflix soared 12% in early trading on Wednesday, just hours after the streaming giant announced price increases set to impact all of the company’s U.S. [Read More…]

Tayfun Coskun/Anadolu via Getty Images) (ISSAQUAH ,WA) — In pursuit of increased wages and renegotiated employee benefits, more than 18,000 Costco union members nationwide voted to authorize a strike if the wholesale company doesn’t agree [Read More…]

Scott Olson/Getty Images (NEW YORK) — Cryptocurrencies affiliated with President Donald Trump and first lady Melania Trump plummeted in the initial hours after Trump was sworn into office Monday. “Official Trump,” a recently launched crypto [Read More…]

ABC News TikTok said Sunday it’s “restoring service” after a ban in the United States initially began to take effect earlier in the day. “In agreement with our service providers, TikTok is in the process [Read More…]

Javier Ghersi/Getty Images (WASHINGTON) — Consumer prices rose 2.9% in December compared to a year ago, ticking up from the previous month and extending a resurgent bout of inflation just days before President-elect Donald Trump [Read More…]

Benjamin Fanjoy/Bloomberg via Getty Images (LOS ANGELES) — Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs estimated in a report released this week. After accounting for [Read More…]

Michael M. Santiago/Getty Images (NEW YORK) — TikTok mounted a last-ditch effort at the Supreme Court on Friday meant to stop a ban of the app set to take effect within days — but the [Read More…]