Business

(NEW YORK) — Credit card debt climbed to a record high in the third quarter of 2023, surging nearly 5% from the previous quarter and leaving a growing share of borrowers late on payments, a Federal Reserve report this week showed. The report demonstrates the dwindling savings held by some consumers who amassed a financial […]

(LOS ANGELES) — SAG-AFTRA, the union representing approximately 160,000 actors, reached a tentative deal on Wednesday with major TV and movie studios that suspends a strike launched more than three months ago. “In a unanimous vote this afternoon, The SAG-AFTRA TV/Theatrical Committee approved a tentative agreement with the AMPTP bringing an end to the 118 […]

(NEW YORK) — WeWork, the office-sharing company that experienced a dazzling rise and sudden decline that came to symbolize the excesses of business startup culture, filed for bankruptcy on Monday. In 2019, the company was valued at $47 billion. By last week, that figure had plummeted to $45 million, with shares of WeWork’s stock falling more […]

(NEW YORK) — Starbucks will raise the hourly pay of U.S. retail employees by 3% at the outset of next year, the company announced on Monday. The Seattle-based coffee chain operates roughly 17,000 stores in the U.S., providing employees between $15 to $24 per hour in wages and a full benefits package that reaches as […]

(NEW YORK) — Tyson Foods is voluntarily recalling almost 30,000 pounds of its dinosaur-shaped chicken nuggets due to possible contamination of foreign materials, specifically metal pieces, according to a press release issued by the U.S. Department of Agriculture’s Food Safety and Inspection Service on Saturday. The specific items subjected to the recall are for 29-ounce […]

(NEW YORK) — Despite a gradual slowdown in investment opportunities for Black businesses, Daymond John is determined to rewrite the narrative through Black Entrepreneurs Day. John, CEO of FUBU and co-star of ABC’s “Shark Tank,” started Black Entrepreneurs Day in 2020 to celebrate innovation and enterprise in the Black community. Black Entrepreneurs Day, which held […]

(NEW YORK) — A gangbusters job market showed pronounced signs of a slowdown last month, a government report on Friday showed. The fresh data elicited predictions from some economists that hiring could stall by the middle of next year. The U.S. economy added 150,000 jobs in October, which amounts to solid growth, but only half […]

(NEW YORK) — A jury has found FTX founder Sam Bankman-Fried guilty on all charges in his federal fraud and conspiracy trial. The jury deliberated for a little over four hours before reaching a verdict on Thursday. “We will have decorum in the courtroom when the verdict is announced,” Judge Lewis Kaplan said before the […]

(NEW YORK) — The cost of doing business in California could soon be slightly more expensive with minimum wages set to increase in April. But what does that mean for menu prices at fast food restaurants that employ hourly workers? A spokesperson for Chipotle confirmed to ABC News Thursday that as of now, the company […]

(NEW YORK) — DoorDash is testing a new notification it hopes will encourage customers to leave a tip for delivery drivers. The delivery giant is rolling out a message to some of its app users that states, “Orders with no tip might take longer to get delivered — are you sure you want to continue?” […]