Business News

(LOS ANGELES) -- A landmark trial over social media addiction has drawn fresh scrutiny to a decades-old legal shield: Section 230.The case, which began last Monday in Los Angeles County Superior Court, centers on claims against Meta -- the parent company of Facebook and Instagram -- and YouTube, which is owned by Google. Plaintiffs argue the companies knowingly built features that encouraged compulsive use among young users, contributing to long-term […]

(WASHINGTON) -- Mark Zuckerberg took the stand on Wednesday in a landmark Los Angeles trial alleging that major social media platforms were intentionally designed to be addictive for children and teens.The case, which began last Monday in Los Angeles County Superior Court, centers on claims against Meta -- the parent company of Facebook and Instagram -- and YouTube, which is owned by Google. Plaintiffs argue the companies knowingly built features that encouraged compulsive […]

(NEW YORK) -- A thaw in the housing market may deliver relief for homebuyers left out in the cold over recent years, analysts told ABC News.After the pandemic, a rapid rise in home prices coincided with stubbornly high mortgage rates, shutting out potential buyers.Glimmers of hope have started to emerge, however. Mortgage rates are falling, wages are rising faster than home prices and homebuyers are scooping up their biggest discounts […]

Photo taken on Aug. 12, 2024 shows the trading floor of the New York Stock Exchange NYSE in New York, the United States. (Liu Yanan/Xinhua via Getty Images) (NEW YORK) -- The Dow Jones Industrial average closed up more than 600 points on Monday after President Donald Trump claimed "productive conversations" had been held between the United States and Iran.The major stock indexes each soared more than 2% in early trading but […]

Photo taken on Aug. 12, 2024 shows the trading floor of the New York Stock Exchange NYSE in New York, the United States. (Liu Yanan/Xinhua via Getty Images) (NEW YORK) -- The Dow Jones Industrial average soared more than 1,000 points on Monday after President Donald Trump claimed "productive conversations" had been held between the United States and Iran.The major stock indexes shed some of the morning's gains by midday as a […]

(NEW YORK) -- Valentine's Day shoppers may feel jilted by runaway chocolate prices.Chocolate prices soared 14.4% over the initial weeks of 2026 when compared to the same period a year earlier, nearly doubling the pace of price increases at the start of 2025, according to findings shared with ABC News by intelligence firm Datasembly.The sharp rise in chocolate prices owes to a cocoa shortage caused primarily by adverse weather and […]

(NEW YORK) -- nflation cooled in January, dropping price increases to their lowest level in nine months, new data from the Bureau of Labor Statistics showed. The lower-than-expected reading defied fears of a tariff-induced hike in overall costs.Prices rose 2.4% in January compared to a year earlier, according to the Consumer Price Index.Inflation stands at its lowest level since May, but it remains nearly a half-percentage point higher than the Fed’s target […]

(NEW YORK) -- Iranian attacks on significant energy infrastructure and refineries in several Gulf countries pushed oil and gas prices higher in volatile trading on Thursday.Brent crude oil prices, a benchmark for global trading, climbed by about 6%, hitting $116 per barrel for contracts to purchase oil in May.The benchmark for European gas also surged by about 15% after Iran on Wednesday released retaliatory strikes targeting energy sites in several […]

(NEW YORK) -- The Federal Reserve held interest rates steady on Wednesday at its first meeting since the U.S.-Israeli war with Iran drove up gasoline prices and risked a wider bout of inflation.The central bank's move marked the second consecutive time it has opted to maintain interest rates at current levels since the outset of 2026. Before that, the Fed cut interest rates a quarter-point three straight times. The decision […]