Business

Oscar Wong/Getty Images (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 it came in higher than economists expected. Shopper attitudes […]

A close-up of a Starbucks coffee shop sign on September 8, 2025 in Cardiff, Wales. (Photo by Matthew Horwood/Getty Images) (NEW YORK) — Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday. The company will […]

Javier Ghersi/Getty Images (NEW YORK) — The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump’s tariff policy, federal government data on Thursday showed. The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government’s final estimate, besting […]

Andrew Harnik/Getty Images (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 report on Friday, leaving observers in the […]

U.S. President Donald Trump speaks during a bilateral meeting with President of Ukraine Volodymyr Zelensky at the 80th session of the UN’s General Assembly (UNGA) at the United Nations headquarters on September 23, 2025 in New York City. World leaders convened for the 80th Session of UNGA, with this year’s theme for the annual global […]

Matteo Colombo/Getty Images (NEW YORK) — Stocks closed higher on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse. The Dow Jones Industrial Average jumped 43 points, or 0.09%, while the S&P 500 climbed 0.34%. The tech-heavy Nasdaq increased 0.42%. The Dow and S&P 500 […]

lvcandy/Getty Images (NEW YORK) — Wholesale prices unexpectedly dropped in August, clocking in lower than economists expected and defying concerns about a tariff-induced spike in costs suffered by suppliers. Producer prices fell 0.1% in August, rolling back some of a sharp increase in wholesale prices that took hold in the previous month, the U.S. Bureau of Labor Statistics said […]

President Donald Trump speaks to Treasury Secretary Scott Bessent while watching the men’s singles finals U.S. Open, September 7, 2025 in New York City. (Kevin Dietsch/Getty Images) (NEW YORK) — Consumer prices rose 2.9% in August compared to a year ago, marking an uptick in price increases as President Donald Trump’s tariff policy intensified. The […]

moodboard/Getty Images (NEW YORK) — Mortgage rates have fallen rapidly in recent months, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase. The average interest rate on a 30-year fixed mortgage stands at 6.35%, dropping from 6.5% over the week ending on Thursday, which amounted to the largest […]

Kevin Dietsch/Getty Images (NEW YORK) — The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its first interest rate cut this year in an effort to revive the flagging labor market. The central bank delivered a policy long-sought by President Donald Trump, though the size of […]