Business Archives - Page 3 of 10

Consumer sentiment sours as government shutdown threatens economic damage

Friday, October 10

(NEW YORK) -- Consumer sentiment soured in October as a government shutdown threatens to weaken a wobbly economy beset by an uptick in inflation and a sharp slowdown of hiring, fresh data on Friday showed. The reading marked a decrease from the previous month but... Read More.

Government shutdown halts data, stokes risk as economy wobbles, experts say

Monday, October 6

(WASHINGTON) -- The government shutdown halted the release of key economic data, choking off the flow of information as some experts warn the economy may be slipping toward a recession, some economists told ABC News.A federal agency postponed the release of a monthly jobs... Read More.

Stocks fall on 1st day of government shutdown

Wednesday, October 1

(NEW YORK) -- Stocks dropped in early trading on Wednesday, just hours after a government shutdown began, shuttering some government services and complicating a delicate moment for the nation's economy.The Dow Jones Industrial Average fell 87 points, or 0.1%, while the S&P 500 slid... Read More.

Trump announces deal to put TikTok under control of US investors

Friday, September 26

(WASHINGTON) -- President Donald Trump on Thursday announced an agreement that will pave the way for social media giant TikTok to come under the control of a group of U.S. investors.The move comes months after a ban on the China-based app was set to... Read More.

US economy grew 3.8% in 2nd quarter, far exceeding previous estimate

Thursday, September 25

(NEW YORK) -- The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump's tariff policy, federal government data on Thursday showed.The U.S. economy grew at an annualized rate of 3.8% in... Read More.

Starbucks to lay off 900 workers, close stores

Thursday, September 25

(NEW YORK) -- Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday.The company will slash 900 employees at its stores in North America, Niccol... Read More.

Fed Chair Powell says rising inflation and slow hiring pose ‘challenging situation’

Tuesday, September 23

(WASHINGTON) -- Federal Reserve Chair Jerome Powell warned a recent uptick of inflation, alongside a hiring slowdown, poses a "challenging situation" for central bankers as they aim to steer the U.S. economy through a "turbulent period."The Fed, which opted to cut interest rates last... Read More.

Fed to set interest rates as Trump seeks shakeup of top officials

Wednesday, September 17

(NEW YORK) -- The Federal Reserve on Wednesday is set to unveil its latest decision on the level of interest rates, hoping to guide the economy through a topsy-turvy stretch of slow hiring and rising inflation.The high-stakes announcement marks a flashpoint in the monthslong... Read More.

Trump races to reshape Fed days before interest rate decision

Monday, September 15

(WASHINGTON) -- Twelve policymakers at the Federal Reserve are set to take a high-stakes vote this week on the nation's benchmark interest rate, attempting to steer the economy through a stormy bout of slow hiring and rising inflation.In a highly unusual circumstance, however, two... Read More.

Mortgage rates are falling fast. Is it a good time to buy a home?

Saturday, September 13

(NEW YORK) -- Mortgage rates have fallen rapidly in recent months, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase.The average interest rate on a 30-year fixed mortgage stands at 6.35%, dropping from 6.5% over the week... Read More.

Inflation climbed in August as Trump’s tariffs intensified

Thursday, September 11

(NEW YORK) -- Consumer prices rose 2.9% in August compared to a year ago, marking an uptick in price increases as President Donald Trump's tariff policy intensified. The reading matched economists' expectations.The fresh inflation data indicated an acceleration from a 2.7% inflation rate recorded... Read More.

Wholesale prices unexpectedly fall amid Trump’s tariffs

Wednesday, September 10

(NEW YORK) -- Wholesale prices unexpectedly dropped in August, clocking in lower than economists expected and defying concerns about a tariff-induced spike in costs suffered by suppliers.Producer prices fell 0.1% in August, rolling back some of a sharp increase in wholesale prices that took hold... Read More.