ABC Business

Quiksilver, Billabong and Volcom stores are closing in the US in 2025

Saturday, February 8 by ABC News

(NEW YORK) -- Quiksilver, Billabong, and Volcom, known for their surf and skate products, are closing stores in the United States.The parent company of the brick-and-mortar stores, Liberated Brands, filed voluntary Chapter 11 bankruptcy on Sunday, which will result in over 100 retail... Read More.

Trumps tariffs could increase home prices and mortgage rates, some experts say

Wednesday, February 5 by ABC News

(WASHINGTON) -- Housing prices are soaring twice as fast as overall inflation. The average rate on a 30-year mortgage topped 7% in January for the first time since last spring. Observers as disparate as J.P. Morgan and the left-leaning nonprofit Center for American Progress have declared... Read More.

Trumps tariffs threaten job losses, experts say. These may be the hardest hit

Tuesday, February 4 by ABC News

(WASHINGTON) -- Autoworkers, farmers and alcohol distillers are among a set of U.S. workers who risk losing their jobs as a result of potential tariffs on Canada, China and Mexico, experts told ABC News.The U.S. president was expected to sign executive orders on Tuesday... Read More.

Trumps tariffs send stock market falling

Monday, February 3 by ABC News

(NEW YORK) -- The stock market fell on Monday amid uncertainty about the fate of tariffs imposed by President Donald Trump on Canada, Mexico and China over the weekend.Soon after a market rout began early Monday morning, Trump paused the tariffs on Mexico for... Read More.

These prices could climb within days if Trump slaps tariffs on Canada and Mexico

Friday, January 31 by ABC News

(WASHINGTON) -- Tariffs on goods from Mexico and Canada that are set to take effect could hike the price of a gallon of gasoline for some drivers by as much as 70 cents and send grocery bills climbing, experts told ABC News.The Trump administration... Read More.

Fed holds interest rates steady, defying pressure from Trump

Wednesday, January 29 by ABC News

(WASHINGTON) -- The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them.The announcement put the central bank on a potential collision course with Trump, though a longstanding norm of independence typically... Read More.

Fed expected to hold interest rates steady, defying pressure from Trump

Wednesday, January 29 by ABC News

(WASHINGTON) -- The Federal Reserve on Wednesday will announce its latest decision setting the level of interest rates, just days after President Donald Trump called on the central bank to lower them.Investors widely expect the Fed to hold interest rates steady, putting the central... Read More.

Nvidia, Microsoft shares tumble as China-based AI app DeepSeek hammers tech giants

Monday, January 27 by ABC News

(NEW YORK) -- The emergence of China-based AI app DeepSeek sent shares plummeting on Monday for many U.S. tech giants, including chipmaker Nvidia and AI-backer Microsoft.Nvidia, which helped catapult market wide gains in recent years, saw its share price plummet by more than 12%... Read More.

These companies are sticking with DEI amid backlash

Friday, January 24 by ABC News

(NEW YORK) -- While some companies are steering away from diversity, equity, and inclusion (DEI) policies, others are sticking with their previous commitments.Leaders at Goldman Sachs, Costco and JPMorgan Chase & Co have recently spoken out in support of their diversity programs, as anti-DEI... Read More.

Trump says he will demand lower interest rates

Thursday, January 23 by ABC News

(WASHINGTON) -- President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at the central bank.During a virtual address to the World Economic Forum... Read More.