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ABC Business News

Cryptocurrency attracting Black, Latino investors and fans
Chesnot/Getty Images (NEW YORK) — Caroline Altagracia, a college student at the University of Albany, said she became interested in cryptocurrency while still in high school. “It’s definitely been an empowering journey,” Altagracia. “I feel [Read More…]

Consumer prices jump 7.5% over last 12 months, marking fastest pace in 40 years
Tetra Images/Getty Images (WASHINGTON) — The prices Americans pay for a basket of goods and services continued to climb rapidly last month, according to new government data. The consumer price index — a key measure [Read More…]

Used car prices at record high, chip shortage and high demand to blame
iStock (NEW YORK) — Looking to buy a used car? Consumers can expect high costs and low inventories at the dealership lot. Listing prices for used cars in January were up 40% from the same [Read More…]

Democrats introduce federal gas tax holiday ahead of midterm elections
Grace Cary/Getty Images (WASHINGTON) — Two Senate Democrats up for reelection introduced a bill on Wednesday to temporarily suspend the federal gas tax through the end of 2022, as millions of Americans grapple with the [Read More…]

Peloton, once a pandemic darling, to cut 2,800 jobs
Ezra Shaw/Getty Images (NEW YORK) — Peloton announced Tuesday a major leadership shakeup and a plan to cut costs that includes laying off some 2,800 employees. The announcement comes as the pandemic wanes in the [Read More…]

DOJ announces arrests in alleged $4.5 billion cryptocurrency laundering scheme
Pavlo Gonchar/SOPA Images/LightRocket via Getty Images (WASHINGTON) — The Justice Department on Tuesday announced the arrests of a New York couple charged with conspiring to launder cryptocurrency presently valued at $4.5 billion — stolen during [Read More…]

Russia-Ukraine tensions cause gas prices to soar
Michael Godek/Getty Images (NEW YORK) — The recent tensions between Russia and Ukraine are affecting Americans at the pump. Prices for oil are now at their highest level in eight years. “Russia still supplies some [Read More…]

Spotify CEO says ‘canceling voices is a slippery slope’ as Joe Rogan backlash mounts
Getty Images/Carmen Mandato (NEW YORK) — Even in the face of mounting backlash, streaming giant Spotify is standing by embattled podcast host Joe Rogan. While the controversy initially centered around the spread of COVID-19 misinformation [Read More…]

Frontier and Spirit airlines to merge
CT757fan/Getty Images (DENVER) — Low-cost carriers Frontier Airlines and Spirit Airlines announced plans on Monday to merge, which would create the fifth-largest U.S. airline by revenue passenger miles. The deal, which is valued at more [Read More…]

Flower prices rising ahead of Valentine’s Day
ArtistGNDphotography/Getty Images (DALLAS) — With Valentine’s Day just one week away, the rush is on to get that special someone something special. But if flowers are a part of your gift, you’d better act fast [Read More…]

Black History Month: How stores are celebrating, honoring and giving back
BojanMirkovic/Getty Images (NEW YORK) — Black History Month is here, and many retailers are not only celebrating, but also amplifying and giving back to Black communities in beautiful ways. From big-box retailers such as Walmart [Read More…]

NewsCorp hit with cyberattack, allegedly from China
Spencer Platt/Getty Images (NEW YORK) — Rupert Murdoch-owned media conglomerate NewsCorp was hit with a cyberattack, and a leading cybersecurity firm, Mandient, brought in to investigate concluded the activity was likely from China, NewsCorp said [Read More…]

How Black families can achieve financial freedom
ABC News (NEW YORK) — In the United States, Black families have an estimated one-eighth of the wealth that white families have, according to research from the McKinsey Institute of Black Economic Mobility. Federal policies, [Read More…]

Delta CEO: Put convicted unruly passengers on national ‘no-fly’ list
Eric Lee/Bloomberg via Getty Images (WASHINGTON) — After the worst year in history for unruly airline passengers, Delta’s CEO is asking the Department of Justice to help create a national “no-fly” list for anyone convicted [Read More…]

Flight attendants outraged at Southwest’s decision to resume alcohol sales
David Paul Morris/Bloomberg via Getty Images (NEW YORK) — Southwest flight attendants are “outraged” after the airline announced on Thursday that it is planning to resume on-board alcohol sales in two weeks. The airline had [Read More…]

Amazon union saga in Alabama spotlights ‘David versus Goliath nature’ of US labor laws
PATRICK T. FALLON/AFP via Getty Images (NEW YORK) — It was dubbed a watershed moment for the withering organized labor movement when the first-ever union election at an Amazon warehouse took place last spring in [Read More…]

Starbucks expects price increases, citing inflation, COVID pay and staffing costs
Starbucks (NEW YORK) — Starbucks will continue to raise prices in 2022 due to a combination of labor costs and supply chain disruptions. The Seattle-based coffee giant announced Tuesday that between a rising cost of [Read More…]

Monster storm fuels most flight cancellations of year
IronHeart/Getty Images (DALLAS) — A monster winter storm is fueling the worst travel day of the year — with more than 4,000 flights canceled Thursday morning as of 10 a.m. per FlightAware. This is the [Read More…]

Sacklers ‘close’ to deal to contribute additional cash in opioid settlement
Michael Nigro/Pacific Press/LightRocket via Getty Images, FILE (NEW YORK) — The family that owns Purdue Pharma is “close” to an agreement that substantially increases its financial contribution to a nationwide opioids settlement, according to a [Read More…]

Spotify’s handling of COVID-19 misinformation on Joe Rogan’s podcast takes heat from critics
iStock/koto_feja (NEW YORK) — After managing to avoid the same level of scrutiny as fellow tech giants such as Twitter and Facebook for years, streaming service Spotify has now found itself at the center of [Read More…]