Consumer sentiment drops near all-time low as prices weigh on shoppers

Friday, September 25 by ABC News

(WASHINGTON) -- Consumer sentiment dropped in September close to the lowest level ever recorded in the 74-year history of the University of Michigan's monthly survey, fresh data on Friday showed.Shopper attitudes soured as a monthlong bout of inflation squeezed consumers and an... Read More.

‘Can’t catch a break’: Shoppers squeezed by surging inflation and higher interest rates

Thursday, September 24 by ABC News

(NEW YORK) -- Kelsey Benson said she was laid off from a job in sales earlier this month, leaving her without health insurance at a time when price hikes are weighing on the rest of her budget.The monthly out-of-pocket cost of Benson's name-brand medication... Read More.

What are the financial benefits of higher interest rates? Experts explain

Wednesday, September 23 by ABC News

(NEW YORK) -- A key long-term Treasury rate hit its highest level in nearly two decades earlier this month, even before the Federal Reserve raised benchmark borrowing costs.The Fed hiked interest rates a quarter of a percentage point in an effort to battle back... Read More.

Converse pulls controversial ad, apologizes following backlash over alleged KKK imagery

Tuesday, September 22 by ABC News

(NEW YORK) -- Converse has discontinued an advertisement following public backlash last week over what critics said appeared to be Ku Klux Klan symbolism and lynching in the shoe and apparel company's ad campaign.One of the images in the ad showed the bottom half... Read More.

Diesel prices at record highs amid Strait of Hormuz disruption, Russia-Ukraine war

Friday, September 18 by ABC News

(NEW YORK) -- The average price for a gallon of diesel was still hovering around a record-high of $6.43 as of Friday morning, according to the latest data published by GasBuddy.The historic increase in the price of diesel comes amid continued disruption in the... Read More.

Warren Buffett steps down as Berkshire Hathaway chairman

Friday, September 18 by ABC News

(NEW YORK ) -- Warren Buffett has stepped down as chairman of Berkshire Hathaway, the company announced in a statement published early on Friday, having served in the role since 1970.Buffett, 96, is now chairman emeritus of the company and will remain a director,... Read More.

Toys R Us planning major comeback ahead of holiday season

Friday, September 18 by ABC News

(NEW YORK) -- Toys R Us is planning a major expansion in the U.S. with the addition of 120 new standalone stores by the end of 2026.The toy retailer, which currently has 40 standalone stores and Toys R Us shops inside Macy's stores across... Read More.

Uber ordered to pay $40M to parents of woman fatally struck after being left on freeway

Thursday, September 17 by ABC News

(NEW YORK) -- The parents of a 23-year-old woman who was struck and killed after her Uber driver left her along a Southern California freeway are speaking out after being awarded $40 million in an arbitration against Uber and the driver.Carol Normandin and Ken... Read More.

What are the top threats posed by AI and should you be worried?

Wednesday, September 16 by ABC News

(NEW YORK) -- The most powerful executives in the artificial intelligence industry in recent days warned of a grave threat posed by the technology, issuing a series of statements calling for a slowdown in AI development.Anthropic CEO Dario Amodei published a blog post alerting... Read More.

Federal Reserve raises interest rates for the 1st time since 2023

Wednesday, September 16 by ABC News

(WASHINGTON) -- The Federal Reserve raised interest rates on Wednesday in an effort to battle back a monthslong surge of inflation set off by the Iran war. The move marks the central bank's first rate increase since July 2023.The central bank hiked its benchmark... Read More.

ABC Business

Consumer sentiment drops near all-time low as prices weigh on shoppers

‘Can’t catch a break’: Shoppers squeezed by surging inflation and higher interest rates

What are the financial benefits of higher interest rates? Experts explain

Converse pulls controversial ad, apologizes following backlash over alleged KKK imagery

Diesel prices at record highs amid Strait of Hormuz disruption, Russia-Ukraine war

Warren Buffett steps down as Berkshire Hathaway chairman

Toys R Us planning major comeback ahead of holiday season

Uber ordered to pay $40M to parents of woman fatally struck after being left on freeway

What are the top threats posed by AI and should you be worried?

Federal Reserve raises interest rates for the 1st time since 2023

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