Business News

Wholesale prices climbed in October at their fastest annual pace in nearly four years, a government report on Friday showed.The producer price index, which measures the amount domestic producers pay to their suppliers, rose 6.5% in October compared to a year earlier, the U.S. Bureau of Labor Statistics said.That figure marked the largest annual jump in wholesale prices since November 2022, when suppliers weathered fallout from the COVID-19 pandemic.While the […]

Nvidia's stock tumbled on Thursday morning after the tech company announced the resignation of CEO Jensen Huang.Shares of Nvidia dropped about 5% early Thursday, recovering some of the losses from a plunge of more than 13% at the open of trading.Colette Kress, current executive vice president and chief financial officer, will serve as interim CEO, the company said in a statement on Thursday."NVIDIA's strength has always come from its people, […]

Oil exports from the Middle East have improved substantially in recent weeks, according to a post on X from private tracking firm Kpler, but gas prices still stand above $4.30, and diesel prices remain close to an all-time high.The supply of oil from the Gulf, excluding Iran, has returned to where it stood before the Iran war, Kpler said last week. Roughly four of every 10 barrels of crude now […]

Jensen Huang, CEO of NVIDIA, gives a keynote address at the Berlin GPU Technology Conference on Oct. 21, 2026, in Berlin, Germany. (Sean Gallup/Getty Images) Nvidia CEO Jensen Huang has resigned, the tech giant announced Thursday.The resignation comes amid reports of Huang's alleged affair with a suspected Chinese spy.Colette Kress, current executive vice president and chief financial officer, has agreed to take over as interim CEO, the company said in […]

Credit card debt held by Americans stands near an all-time high, according to the Federal Reserve Bank of New York, just as a rise in the Fed’s benchmark interest rate threatens to drive up borrowing costs.The spending crunch may push some debt holders to tap their 401(k) accounts as a means of paying down what they owe and resetting their finances. But experts who spoke to ABC News cautioned against […]

A sports car with a naturally aspirated V12 engine and a manual transmission? It's every enthusiast's dream.Buying one, however, requires deep pockets. The S1, Gordon Murray's latest supercar creation, reportedly costs at least seven figures. All 64 units were sold even before collectors, industry insiders and admirers of Murray got a sneak peek at the S1 in August.Murray himself has described the 681-horsepower car as "more elegant, more refined" but […]

Allan McNish knows a thing or two about winning.The 56-year-old has been called one of "motorsports' most accomplished figures." His lengthy racing resume includes victories Le Mans (three-time winner), Sebring 12 Hours, Petit Le Mans and 6 Hours of Silverstone.McNish now has a new challenge ahead of him -- getting the Audi Revolut Formula 1 team into championship shape by 2030. The Scot was named racing director in April, a […]

OpenAI on Friday revealed another hack into a second Australian government agency, a week after the disclosure of an initial hack fueled public backlash against the ChatGPT-maker.An AI model gained access to fire statistics kept by a state agency in New South Wales (NSW) that were not publicly available from the department, OpenAI said in a statement to ABC News on Friday.The company discovered the incident as part of a […]

A jobs report on Friday will provide a key gauge of economic health as the United States weathers a surge of inflation set off by the Iran war seven months ago.The fresh data is set to arrive weeks after the Federal Reserve imposed its first interest rate hike in three years. The move aims to dial back price increases, but it risks an eventual slowdown in hiring as borrowing costs […]