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ABC Business News

Taylor Swift ticket debacle renews calls to split up Ticketmaster and Live Nation
Jeff Kravitz/FilmMagic (NEW YORK) — Ticketmaster is pulling the plug on the general-public ticket sale for Taylor Swift’s “Eras” tour that was set to take place Friday, Nov. 18. The company tweeted Thursday: “Due to [Read More…]

Mark Zuckerberg announces Meta will layoff 11,000 employees
Michaela Handrek-Rehle/Bloomberg via Getty Images (NEW YORK) — Mark Zuckerberg has announced that Meta will be laying off 11,000 of its employees — an estimated 13% of its workforce — and will also be taking [Read More…]

Inflation has helped decide elections worldwide. Here’s what that means for the midterms.
Tetra Images/Getty Images (NEW YORK) — As the midterm elections begin, sky-high prices for essentials like food and gasoline have become a major line of criticism leveled at Democrats, who control the White House and [Read More…]

Retailers seek new ways to win over shoppers this holiday season
Shopify (NEW YORK) — Holiday shopping is underway and retailers have already started offering additional sales and discounts earlier than ever in an attempt to win over consumers, who are facing near-record high inflation this [Read More…]

‘Selling dreams’: Lamborghini CEO on perfecting the brand’s first electric car
Lamborghini (NEW YORK) — Supercar maker Lamborghini cannot keep up with demand. The Italian marque said Monday it has sold 7,430 vehicles in the first nine months of the year and is on track to [Read More…]

Apple iPhone models delayed by China’s COVID restrictions
Stanislav Kogiku/SOPA Images/LightRocket via Getty Images (NEW YORK) — Apple said on Sunday that COVID-19 restrictions at an iPhone factory in China have “temporarily impacted” shipments of its flagship phone. The world’s most valuable company [Read More…]

The unintended consequence of electric vehicles: More demand for manual transmissions
Katie McTiernan/Anadolu Agency via Getty Images (NEW YORK) — When Nissan launched the all-new, seventh-generation Z sports car, company executives had a specific requirement: a manual transmission. “In the more than 50 years of Nissan [Read More…]

US hiring exceeds expectations, as economy adds 261,000 jobs
Douglas Sacha/Getty Images (NEW YORK) — The U.S. added 261,000 jobs in October, exceeding economist expectations and sending a positive signal for the economy days before the midterm elections. The unemployment rate increased to 3.7%. [Read More…]

Twitter sends email to employees announcing layoffs to come Friday
CONSTANZA HEVIA/AFP via Getty Images (NEW YORK) — Twitter will begin layoffs on Friday, the company announced in an email. “In an effort to place Twitter on a healthy path, we will go through the [Read More…]

AMC announces $5 ‘Discount Tuesdays’ deal through January
Paul Weaver/SOPA Images/LightRocket via Getty Images (NEW YORK) — Every Tuesday, every movie, only $5. In the latest effort to get movie-goers back into theaters, AMC Theaters announced Thursday that AMC Stub members can enjoy [Read More…]

“Black Panther: Wakanda Forever” Happy Meal hits the menu at McDonald’s
ABC News Photo Illustration, McDonald’s (NEW YORK) — A taste of the Marvel Cinematic Universe is coming to the menu at McDonald’s with a new item inspired by the highly-anticipated Black Panther sequel. Starting Thursday, [Read More…]

Civil rights leaders demand meeting with Elon Musk
CONSTANZA HEVIA/AFP via Getty Images (NEW YORK) — The top executives of three civil rights groups are demanding a meeting with new Twitter owner Elon Musk following what they say has been a rise in [Read More…]

Starbucks red holiday cups return for 25th year, plus peppermint mocha and new pastries
Courtesy of Starbucks (NEW YORK) — Starbucks is officially in holiday mode with the return of its iconic red cups and special holiday menu. Starting Thursday, Nov. 3, Starbucks will celebrate the return of holiday [Read More…]

Aldi offers Thanksgiving Price Rewind for affordable holiday options
Aldi (NEW YORK) — This Thanksgiving, amid inflation and rising food prices, shoppers can find savings on meal ingredients thanks to a new promotion from Aldi. The grocery retailer announced its “Thanksgiving Price Rewind” on [Read More…]

Federal Reserve approves another 0.75-point rate hike
Chip Somodevilla/Getty Images (WASHINGTON) — The Federal Reserve said Wednesday it was raising its short-term borrowing rate another 0.75% to slow key areas of the economy and tame inflation, which is at a 40-year high. [Read More…]

CBS, Les Moonves to pay $30M in deal with NY attorney general over sexual misconduct claims
David Paul Morris/Bloomberg via Getty Images (NEW YORK) — CBS and its senior leadership knew about multiple allegations of sexual assault against former chief executive Les Moonves but intentionally concealed them from shareholders, regulators and [Read More…]

CVS, Walgreens agree to $10 billion opioid settlement
Paul Weaver/SOPA Images/LightRocket via Getty Images (NEW YORK) — CVS Health and Walgreens on Wednesday said they had agreed in principle to pay about $10 billion in total to settle a series of opioid-related lawsuits [Read More…]

CVS agrees to $5 billion opioid settlement
Paul Weaver/SOPA Images/LightRocket via Getty Images (NEW YORK) — CVS Health on Wednesday said it had agreed to a $5 billion settlement designed to “substantially resolve” opioid lawsuits against the pharmacy chain. “We are pleased [Read More…]

Fed expected to impose another major rate hike, intensifying inflation fight
Bloomberg Creative/Getty Images (WASHINGTON) — Economists expect another jumbo-sized increase in borrowing costs when the Federal Reserve announces its interest rate decision on Wednesday. Mounting evidence suggests that previous rate hikes have slowed key areas [Read More…]

Hate speech increased on Twitter after Elon Musk takeover, study finds
Jakub Porzycki/NurPhoto via Getty Images (NEW YORK) — A new study from Montclair State University showed a dramatic increase in hate speech on Twitter immediately following Elon Musk’s acquisition of the social media platform. Musk, [Read More…]