Business

(NEW YORK) — Cadillac’s newest Escalade sport utility vehicle is more brash, commanding and luxurious than the current model. It’s also electric. “The first word you get is ‘Wow,’” John Roth, vice president of Global Cadillac, told ABC News of the reaction to the Escalade IQ. “People say, ‘Boy, that’s an Escalade.’” Twelve cubic feet of […]

(NEW YORK) — IKEA, the global furniture giant, will open a store in downtown San Francisco later this month, the company announced on Tuesday, defying an onrush of retail departures that has slammed the city center in recent years. Located blocks away from the city’s Union Square retail hub, the store will anchor a new […]

(NEW YORK) — Plans for a cage match between billionaire entrepreneurs Mark Zuckerberg and Elon Musk regained momentum on Sunday when Zuckerberg said in a post on Threads that he had suggested to Musk the date of Aug. 26 for the fight. Musk, according to Zuckerberg, had yet to respond. The run-up to a hypothetical […]

(NEW YORK) — A single ticket sold in Florida won the estimated $1.58 billion jackpot in Tuesday night’s Mega Millions drawing, a record high for the lottery and among the largest-ever U.S. drawings, the lottery said. The winning ticket was purchased at a Publix Super Market on Atlantic Boulevard in Neptune Beach, Florida, local lottery […]

(NEW YORK) — Federal prosecutors in New York on Tuesday signaled their intention to hold embattled crypto executive Sam Bankman-Fried accountable for alleged campaign finance violations despite dropping the charge last month on a technicality. Bankman-Fried, the former founder and CEO of cryptocurrency FTX, was slapped with a host of charges last year focused on an […]

Justin Sullivan/Getty Images (NEW YORK) — The Campbell Soup Company is expanding its presence on grocery store shelves with a new deal to acquire Sovos Brands Inc., the maker of Rao’s pasta sauces and noosa yogurt. At $23 per share, the total enterprise value of the acquisition is approximately $2.7 billion, the companies announced in […]

(NEW YORK) — While some tech giants neared or imposed widespread layoffs last year, compensation for their CEOs climbed as much as tens of millions of dollars, according to an ABC News analysis of data released by research firm Equilar in May and June. Alphabet CEO Sundar Pichai was awarded compensation worth more than $225 million […]

Mint Images/Getty Images (NEW YORK) — Disgraced crypto executive Sam Bankman-Fried deserves to have his bail revoked and to be detained before he is tried for fraud and conspiracy charges stemming from the collapse of FTX, federal prosecutors in New York said in a new court filing. Prosecutors balked at Bankman-Fried’s sharing with The New […]

(NEW JERSEY)– The lack of available homes on the market is near historic lows, sparking fierce bidding wars in cities across the country – and prompting many buyers to get creative with their offers. In June, 1.08 million homes were for sale nationwide, according to the National Association of Realtors (NAR), down 13.6% from a […]

(NEW YORK) — CVS Health is laying off 5,000 employees as part of an effort to shed costs, the retail and pharmacy chain confirmed on Tuesday. The layoffs will primarily affect “non-customer facing positions” such as corporate roles, the company said, adding that it does not expect the move to impact brick-and-mortar stores, pharmacies and […]