Business News

Consumer sentiment stands near the lowest level numerically ever recorded in the 74-year history of the University of Michigan's monthly survey, just weeks before the U.S. midterm elections.Shopper attitudes stayed near their lowest levels in October as inflation squeezed household budgets and a global fuel supply shortage kept gasoline prices elevated, according to fresh data released on Friday.The final reading of the University of Michigan index registered at 48.0 in […]

(NEW YORK) -- Toys R Us is planning a major expansion in the U.S. with the addition of 120 new standalone stores by the end of 2026.The toy retailer, which currently has 40 standalone stores and Toys R Us shops inside Macy's stores across the country, announced the strategic move, which is being carried out in partnership with Go! Retail Group, on Thursday."This is a major moment for [Toys R […]

High gas prices continue to weigh on wallets as voters list affordability as a top concern ahead of early November's midterm elections.The national average price of a gallon of gas stands at $4.27, marking an increase of nearly $1.30, or 43%, since the outbreak of the Iran war in February, AAA data showed.Fuel prices are unlikely to ease significantly before Election Day on Nov. 3, some analysts told ABC News, […]

A judge has ordered Meta to pay New Mexico $25 billion after a jury found the social media giant liable for violating consumer protection laws.Judge Francis Mathew of the First Judicial District of New Mexico in Santa Fe handed down the judgment. The state had asked for a penalty of between $35 billion and $45 billion.Meta told ABC News on Wednesday that it will appeal the judgment.In September, jurors found […]

In this photo illustration, the OpenAI logo is seen displayed on a smartphone screen. (Thomas Fuller/SOPA Images/LightRocket via Getty Images) OpenAI says artificial intelligence agents powered by the company's models weakened internal safety monitoring systems while executing tasks, and one agent subsequently denied having done so.In a report updated on Tuesday, OpenAI identified two recent incidents, one in which an AI agent "suppress[ed] monitoring notifications," and another in which an […]

Global oil prices climbed to their highest level in five months on Tuesday after Iran and its Houthi allies claimed attacks on oil infrastructure in the Middle East.The Brent crude futures price, a benchmark for global trading, topped $111 a barrel for the first time since May before retreating to $110.30 a barrel. The latest reading marks a rise of more than 55% since the Iran war began in late […]

Elon Musk, the world's wealthiest person, on Monday vowed to give every child in the United States a share of stock in aerospace giant SpaceX.The company, which Musk leads as founder and CEO, boasts a valuation of nearly $2 trillion, with Musk the largest individual shareholder. A share of SpaceX was worth about $150 as of Monday morning."Next year, I will give one of my SpaceX shares to every kid […]

Federal Reserve Chair Kevin Warsh warned of a potential "shock" to the U.S. economy delivered by a rise in artificial intelligence spending, pledging to contain price increases as a flood of private sector funds drives up demand."If you’re a central banker, you’re in the business of trying to ensure stable prices and full employment, you’ve got to recognize this as a shock," Warsh said in Bangkok, Thailand, at a conference […]

Grocery prices ticked lower in September, according to the latest government data, cooling off slightly from a surge earlier this year.The drawdown provides some relief for shoppers, but they may notice uneven price changes as they browse different parts of the grocery store.Costs dropped last month for meat, ice cream and bread, among other foods. However, prices climbed for the likes of coffee, candy and fresh fruit.Overall, grocery prices dropped […]