Business

(NEW YORK) — The borrowing cost for student loans is poised to reach a 16-year high. The interest rate on a federal undergraduate student loan is expected to climb to 6.5% in July, which would mark its highest level since 2008, financial-aid expert Mark Kantrowitz told ABC News. The current interest rate of a new […]

(NEW YORK) — ByteDance, the parent company of TikTok, struck the latest blow in a high-stakes clash between the social media company and the U.S. government, filing a lawsuit this week challenging a forced sale of TikTok as unconstitutional. The case could nullify the measure enacted last month that requires ByteDance to sell the platform […]

(NEW YORK) — TikTok announced on ABC News’ Good Morning America Thursday morning that beginning immediately, the social media giant will automatically label Artificial Intelligence-generated content when it is uploaded from certain platforms. “Our users and our creators are so excited about AI and what it can do for their creativity and their ability to […]

(MOUNT PLEASANT, Wis.) — President Joe Biden is set to announce on Wednesday a $3 billion investment by tech giant Microsoft to build an artificial intelligence data center in southeast Wisconsin. The sprawling facility will be located on the same plot of land where, in 2018, former President Donald Trump announced a multi-billion dollar investment […]

(NEW YORK) — Fast casual restaurant chain Panera Bread is doing away with highly caffeinated Charged Lemonade drinks that have been at the center of multiple wrongful death lawsuits since last fall. A spokesperson for Panera confirmed to ABC News that is has undergone a “recent menu transformation,” as first reported by Bloomberg. In an […]

(NEW YORK) — Apple unveiled new models of its iPad at an event on Tuesday, promising revamped devices at affordable prices. “This is the biggest day for iPad since its introduction,” CEO Tim Cook declared. The announcement exemplified the current strategy at Apple: Rely on new models of its signature items, rather than transition to […]

Robb Reece / Getty Images (NEW YORK) — In an effort to be more inclusive, The Boy Scouts of America is changing its name to Scouting America, the organization announced Tuesday. The rebrand reflects “the organization’s ongoing commitment to welcome every youth and family in America to experience the benefits of Scouting,” the group said […]

(NEW YORK) — Publix and Dollar Tree shoppers should check their pantries for two types of Planters brand nuts that were recently recalled across five states. In a company announcement dated May 3 and posted on the U.S. Food and Drug Administration website, Planters’ parent company, Hormel Foods Sales, LLC, announced a voluntary recall of […]

(NEW YORK) — Starbucks shares have plummeted more than 17% in value since the company revealed a sales slump in an earnings report last week. “The brand is incredibly resilient, but it’s clearly not business as usual,” former CEO Howard Schultz said in a post on LinkedIn on Sunday. The coffee giant is viewed by […]

(NEW YORK) — At the start of 2024, the economy appeared to deliver just about everything President Joe Biden could want: falling inflation, robust growth and a forecast of interest rate cuts at the Federal Reserve that might send economic output even higher. Since then, however, the sunny outlook has darkened. Inflation has proven stubborn […]