ABC Business

Amazon layoffs highlight impact of AI, some experts say: ‘Wake-up call’

Tuesday, October 28 by ABC News

(NEW YORK) -- Amazon is set to lay off thousands of corporate workers, despite billions in profits and lucrative lines of business spanning from e-commerce to cloud computing. The reason is artificial intelligence, the company said in a memo to employees on Tuesday."Some may... Read More.

Trump’s halt of US-Canada trade talks could impact these prices

Saturday, October 25 by ABC News

(NEW YORK) -- Prices for home appliances, cars and auto parts could be impacted by President Donald Trump’s decision overnight to end trade talks between the U.S. and Canada, some trade experts told ABC News.Trump said he's terminating trade negotiations with Canada in response... Read More.

Inflation climbs to highest level since January, beef prices soar

Friday, October 24 by ABC News

(NEW YORK) -- Consumer prices rose 3% in September compared to a year ago, extending a monthslong uptick that has sent inflation to its highest level since January, government data on Friday showed. The reading came in lower than economists' expectations.The fresh data marked... Read More.

What could supply chain snags in the auto industry mean for car buyers?

Thursday, October 23 by ABC News

(NEW YORK) -- Car buyers may face elevated prices and a shortage of some vehicles due to a supply chain snarled by tariffs and challenges accessing crucial materials, some industry experts told ABC News.A shortage of aluminum halted production at plants operated by Jeep... Read More.

As new tariffs take effect, US consumers footing more than half the burden: Report

Tuesday, October 14 by ABC News

(NEW YORK) -- With new tariffs taking effect Tuesday on furniture and lumber, an analysis released by Goldman Sachs finds American consumers are paying for more than half of the cost of the levies imposed by President Donald Trump.In a research note to its... Read More.

Consumer sentiment sours as government shutdown threatens economic damage

Friday, October 10 by ABC News

(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 by ABC News

(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 by ABC News

(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

Thursday, September 25 by ABC News

(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.