Business News

(NEW YORK) -- Financial results to be released on Wednesday by chipmaking-giant Nvidia will be closely watched as a bellwether for the stock market and the overall economy, which have both come to rely on massive spending on artificial intelligence to propel continued growth.The latest test for the world's most valuable company arrives at a fraught moment for markets, which have fallen for four consecutive days over fears of an AI bubble. Nvidia, which makes many […]

(NEW YORK) -- With new tariffs taking effect Tuesday on furniture and lumber, an analysis released by Goldman Sachs finds American consumers are paying for more than half of the cost of the levies imposed by President Donald Trump.In a research note to its clients, the global investment and banking giant said U.S. consumers will absorb 55% of tariff costs by the end of this year. American businesses would pay […]

(NEW YORK) -- Web infrastructure company Cloudflare said Tuesday it resolved an issue on its network, which had curtailed access to some popular websites for several hours."A fix has been implemented and we believe the incident is now resolved," Cloudflare said on its status page at 9:40 a.m. ET.Dane Knecht, Cloudflare's chief technology officer, posted an apology for the outage around that time, ruling out the possibility of a cyberattack."I […]

The Cloudflare logo appears on a smartphone screen and as the background on a laptop computer screen in this photo illustration in Athens, Greece, on October 31, 2025. (Photo by Nikolas Kokovlis/NurPhoto via Getty Images) (NEW YORK) -- Web infrastructure company Cloudflare said it is experiencing problems across its network on Tuesday, curtailing access to some popular websites."Cloudflare is aware of, and investigating an issue which potentially impacts multiple customers," […]

Injection pens for the weight-loss treatment Wegovy, manufactured by Novo Nordisk A/S, on display during a news conference in Mumbai, India, on Tuesday, June 24, 2025.(Photographer: Dhiraj Singh/Bloomberg via Getty Images) (NEW YORK) -- The cash price for popular weight-loss medications Wegovy and and the medication authorized for people with type 2 diabetes Ozempic are dropping by 30% in U.S. on Monday, according to Novo Nordisk, the Danish pharmaceutical company […]

(NEW YORK) -- New York City Mayor-elect Zohran Mamdani, a democratic socialist who says he wants to hike taxes on the rich, set off alarm among some critics about a potential exodus of wealthy people bent on keeping their money out of government coffers.As the warning goes, a tax increase at the top could drive away affluent New Yorkers and undercut revenue meant to fund proposals like universal child care, […]

(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 have worsened for three consecutive months, resuming a decline that took hold after President Donald Trump took office, University of […]

(NEW YORK) -- Starbucks baristas are set to walk off the job in dozens of U.S. cities on Thursday, aiming to galvanize public support and pressure the company on “Red Cup Day,” the coffee giant's annual holiday promotion.More than 1,000 Starbucks workers will go on strike at about 65 stores scattered across states as far-flung as California, Texas and Pennsylvania, Starbucks Workers United (SWU), the union representing the workers, told […]

(WASHINGTON) -- The longest government shutdown in U.S. history could end as soon as Wednesday, ultimately putting hundreds of thousands of federal employees back to work, funding food stamps and smoothing out major travel disruptions.The reopening averts a recession that may have come to pass in the event of a prolonged shutdown lasting weeks or months longer, analysts told ABC News.A return of federal-worker backpay and the resumption of SNAP benefits, meanwhile, is set to undo […]