ABC Business News

Matthew Hatcher/Bloomberg via Getty Images (STURGIS, Mich.) — Less than two weeks after restarting production at its Sturgis, Michigan plant, Abbott said it has once again been forced to halt baby formula production after thunderstorms [Read More…]

Tetra Images/Getty Images (WASHINGTON) — The Federal Reserve raised interest rates significantly on Wednesday, hiking it 0.75%, escalating a strategy of increased borrowing costs that aims to dial back historic inflation. The rate hike of [Read More…]

Alan Schein Photography/Getty Images (NEW YORK) — Average monthly car payments hit a record high in May while the cost of new vehicles continues to rise, according to industry insiders. A report from Moody’s Analytics [Read More…]

MANDEL NGAN/AFP via Getty Images (WASHINGTON) — President Joe Biden on Wednesday sent a letter to seven major oil refiners blasting them for record profits amid the war in Ukraine as Americans pay record prices [Read More…]

Toby Scott/SOPA Images/LightRocket via Getty Images (NEW YORK) — For months, sky-high prices have pummeled the budgets of everyday Americans. But many have offset the damage, at least in part, with wage increases driven by [Read More…]

ABC News (NEW YORK) — Money can be a taboo topic — whether it’s in a relationship or in your career. But one couple successfully tackled it head on to create a road map for [Read More…]

Matteo Colombo/Getty Images (NEW YORK) — Global stocks tumbled and the S&P 500 closed in bear market territory Monday as fears over inflation rattle investors around the world. The S&P 500 closed down 151 points, [Read More…]

Igor Golovniov/SOPA Images/LightRocket via Getty Images (NEW YORK) — The latest supply shortage to hit stores in the United States is disproportionately impacting women who menstruate. Major retail chains across the country are reporting a [Read More…]

Matteo Colombo/Getty Images (NEW YORK) — Global stocks tumbled and the S&P 500 opened in bear market territory Monday as fears over inflation rattle investors around the world. On Friday, investors were disappointed to learn [Read More…]

Morgan Korn, ABC News (NEW YORK) — Isaac Marchionna had always been a loyal SUV owner until he upgraded his Toyota 4Runner to a Ford F-150 Raptor, a massive truck with 450 horsepower and 510 lb-ft [Read More…]

Getty Images (NEW YORK) — Thousands of employees in the U.K. will be working four days a week for the next six months, in the largest such pilot program to date. ABC News’ “Start Here” [Read More…]

Jose Luis Pelaez Inc/Getty Images (WASHINGTON) — Inflation reaccelerated in May, rising at the highest level seen in four decades, dashing hopes that the number had hit its peak, according to data released by the [Read More…]

sshepard/Getty Images (NEW YORK) — Federal prosecutors in Manhattan, New York have started a criminal investigation into Wells Fargo to determine whether the nation’s third largest bank’s hiring practices broke the law, a source briefed [Read More…]

David Sacks/Getty Images (NEW YORK) — As summer travel booms and prices for gas, hotel rooms and flights skyrocket, taking to the sea this summer season could save travelers big bucks. Despite rising prices in [Read More…]

Courtesy Spence Family (NEW YORK) — The parents of a now 19-year-old New York woman are suing Meta, the parent company of Facebook and Instagram, alleging their daughter developed an Instagram addiction that led to [Read More…]

Courtesy of Haus Labs (NEW YORK) — Monsters rejoice! Haus Labs by Lady Gaga is now available at Sephora stores, along with seven brand new products. The latest drop includes vegan, cruelty-free picks that have [Read More…]

Michael Godek/Getty Images (NEW YORK) — The average price of a gallon of gas nationwide exceeded $5 on Thursday, crossing the milestone after a rapid rise over the past month that has alarmed public officials [Read More…]

JEFF KOWALSKY/AFP via Getty Images (NEW YORK) — Abbott and the Food and Drug Administration were alerted to a whistleblower complaint about Abbott’s Sturgis infant formula plant as far back as February 2021, ABC News [Read More…]

Rafael Henrique/SOPA Images/LightRocket via Getty Images (NEW YORK) — Representatives of the social media app Yubo said on Tuesday that the platform is adding new safety features and updating its usage guidelines following news that [Read More…]

Norberto Cuenca/Getty Images (NEW YORK) — Through the years, more and more brands have not only found ways to celebrate Pride Month, but to also give back in big, beautiful ways. This year is no [Read More…]