Business News

(NEW YORK) -- If you are nearing retirement, you will soon be able to stash even more money into your nest egg -- if you can afford it.The Internal Revenue Service announced that the maximum amount individuals can contribute to their 401(k) or similar plans in 2025 will increase to $23,500, up from $23,000 for 2024.The federal government already lets those 50 and older make extra contributions so that they […]

(NEW YORK) -- Bitcoin vaulted to a record high on Thursday, surging more than 3% in early trading and hurtling toward investors' long-sought milestone of $100,000.The price of bitcoin briefly exceeded $98,000 for the first time on Thursday morning, before retreating to about $97,600.The value of the world's most popular cryptocurrency has soared 31% since the reelection of former President Donald Trump, who is widely viewed as friendly toward digital currency.By comparison, the S&P 500 […]

Joe Buglewicz/Getty Images (New York) -- Conspiracy theorist Alex Jones accused The Onion and Sandy Hook Elementary School families of "collusive bidding" and asked a bankruptcy court judge to halt the sale of his Infowars platform.Jones, who defamed the Sandy Hook families by calling the 2012 massacre a hoax and the parents of the 20 first graders actors, called The Onion's winning $1.75 million bid "sheer nonsense" because it's half […]

(NEW YORK) -- President-elect Donald Trump sharply criticized the rising price of groceries throughout his campaign, even delivering an address outside his New Jersey home in August alongside a table covered with cereal boxes, coffee grounds and ketchup.A wave of consumer discontent appears to have helped lift him back into the Oval Office, but Trump now faces the task of how to ease voters' frustration.Food inflation soared to a peak […]

(NEW YORK) -- President-elect Donald Trump sharply criticized the rising price of groceries throughout his campaign, even delivering an address outside his New Jersey home in August alongside a table covered with cereal boxes, coffee grounds and ketchup.A wave of consumer discontent appears to have helped lift him back into the Oval Office, but Trump now faces the task of how to ease voters' frustration.Food inflation soared to a peak […]

(NEW YORK) -- Americans' credit card debt has hit a record high, the Federal Reserve of New York said in a report released this week.Credit card debt climbed $24 billion over a three-month stretch ending in September, soaring to a level 8% higher than where it stood a year ago, the report said.Debt holders may seek solace in a string of recent interest rate cuts at the Federal Reserve, which […]

(WASHINGTON) -- Social media platform TikTok is hurtling toward a U.S. ban that could upend its business and frustrate more than 150 million American users -- unless President-elect Donald Trump finds a way to reverse the policy.Trump, who boasts 14 million followers on TikTok, voiced opposition to the ban earlier this year. The policy, which orders TikTok to find a U.S. parent company or face a ban, is set to […]

(WASHINGTON) -- The U.S. government is set to release new inflation data on Wednesday, offering a fresh look at price increases little more than a week after the issue appeared to help former President Donald Trump win re-election.Inflation has cooled dramatically since a peak of 9% attained in 2022, now hovering near the Federal Reserve’s target rate of 2%.The slowdown of price increases has coincided with robust economic growth, establishing […]

Karl Tapales/Getty Images (NEW YORK) -- Shares in Donald Trump's social media company spiked after the president-elect again vowed not to sell his stake in the parent company of Truth Social and called for an investigation into "market manipulators or short sellers."Trump Media's stock price increased by nearly 16 percent to $32 per share on Friday, as investors reacted to the news.In interviews with ABC News before the election, some […]