Business

(NEW YORK) — Mortgage rates have plummeted in recent weeks, boosting the prospects of homebuyers previously stifled by high borrowing costs. Many forecasters predict mortgage rates will drop further, however, since the Federal Reserve expects to cut its benchmark interest rate this year. Those circumstances pose a quandary for buyers: Jump into a newly attractive […]

(NEW YORK) — Days after Elon Musk bought X for $44 billion last year, he strolled through the glass doors at company headquarters carrying a kitchen sink. “Let that sink in,” he said. Now, Musk faces a difficult reality of his own: A sharp decline in the value of X totaling tens of billions of […]

(NEW YORK) — Over 675,000 cans of baby formula are being recalled for possible bacterial contamination, the company announced. Reckitt and Mead Johnson Nutrition, the makers of Enfamil and Nutramigen, announced Saturday it was voluntarily recalling cans of Nutramigen Hypoallergenic Infant Formula Powder, a specialty formula given to infants with cow’s milk allergy, following product […]

(NEW YORK) — The recent headlines for electric vehicles have been brutal: Sales are dropping. Momentum is slipping. Consumers are souring on the technology. Experts say, however, that 2024 may be the year to finally pull the plug on gasoline-powered cars and trucks. “Five years ago we did not have the array of EVs we […]

(NEW YORK) — With the minimum wage in California increasing to $20 an hour for fast food workers in 2024, some Pizza Hut franchisees say they’re preparing to eliminate jobs as well as delivery options for customers. As first reported by ABC News Los Angeles station KABC, two major Pizza Hut franchisees with restaurants in […]

(NEW YORK) — Wildfire smoke bathed New York City’s front-line workers in fumes, atmospheric rivers forced hundreds of thousands of California homes into darkness, and hurricane Idalia battered tourism in Florida. Natural disasters nationwide in 2023 focused attention on the life-or-death stakes of climate change but also underscored a grave risk of a different type: […]

(LOS ANGELES) — With the minimum wage in California increasing to $20 an hour for fast food workers in 2024, some Pizza Hut franchisees say they’re preparing to eliminate jobs as well as delivery options for customers. As first reported by ABC News Los Angeles station KABC, two major Pizza Hut franchisees with restaurants in […]

(NEW YORK) — Amazon will begin displaying advertisements in movies and TV shows on its Prime Video streaming service next month, the company said in an email to subscribers this week viewed by ABC News. Customers will be offered an ad-free alternative for an additional $2.99 per month, the company added. “This will allow us […]

(NEW YORK) — Consumer spending grew solidly this holiday season, rebuking concerns of a slowdown and reinforcing positive signals about the U.S. economy as it approaches the end of a tumultuous year. Buying among shoppers rose 3.1% over the holidays compared to the same period last year, according to data released on Tuesday by Mastercard […]

(NEW YORK) — Greg Iwinski, a late-night TV writer, walked off the job this year amid a dramatic surge of workers going out on strike — and he says the trend made its presence felt at the bargaining table. “The ammunition that a company has, whether it’s an automaker or a TV studio, is telling […]