ABC Business News

Phillip Spears/Getty Images (NEW YORK) — A difficult year for many homebuyers became even tougher when the Federal Reserve dramatically raised borrowing costs this week in an effort to tame sky-high inflation, experts told ABC [Read More…]

Daniel Acker/Bloomberg via Getty Images (NEW YORK) — Revlon has officially filed for bankruptcy. The 90-year-old cosmetics giant announced on Thursday that the company voluntarily petitioned for reorganization under Chapter 11 in the U.S. Bankruptcy [Read More…]

LilliDay/Getty Images (NEW YORK) — A number of forces are putting pressure on the economy right now and that has Wall Street betting on a recession sometime in the next 12 to 18 months. Consumer [Read More…]

REKINC1980/Getty Images (NEW YORK) — The Consumer Product Safety Commission announced Thursday the recall of more than 407,000 over-the-counter pill bottles, citing the products do not meet the child resistance packaging required by the Poison [Read More…]

Smith Collection/Gado/Getty Images (NEW YORK) — The Federal Reserve on Wednesday dramatically escalated its fight to dial back historic inflation, raising its benchmark interest rate by 0.75%, the largest rate hike since 1994. The move [Read More…]

David Paul Morris/Bloomberg via Getty Images (NEW YORK) — The pain at the pump is getting worse and has motorists asking, is there any relief in sight? The average nationwide price of a gallon of [Read More…]

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…]