Business News

(NEW YORK) -- Linda Yaccarino said she is stepping down from her role as CEO of X, the social media platform owned by Elon Musk.Yaccarino, who previously served as an advertising executive at NBCUniversal, took the helm of X two years ago.In post on X announcing her departure, Yaccarino thanked Musk for the opportunity."When [Musk] and I first spoke of his vision for X, I knew it would be the […]

Andrew Caballero-Reynolds/AFP via Getty Images (WASHINGTON) -- Stocks closed down significantly on Monday after President Donald Trump announced steep tariffs on seven countries and threatened to impose new levies on others.The Dow Jones Industrial Average closed down 422 points, or 0.9%, while the S&P 500 dropped 0.7%. The tech-heavy Nasdaq declined 0.9%.Tesla, the electric-vehicle company led by tech billionaire Elon Musk, fell 6% after the CEO reignited a feud with Trump by announcing plans to launch […]

(WASHINGTON) -- President Donald Trump on Monday will sign an executive order delaying steep levies on dozens of countries that were set to take effect on Wednesday, the White House said.Trump's so-called reciprocal tariffs will now take effect on Aug. 1, White House press secretary Karoline Leavitt told reporters.Minutes earlier, Trump announced 25% tariffs on South Korea and Japan that would take effect at the start of August. Twelve additional […]

(NEW YORK) -- Gas prices are hovering near their lowest summer level in four years as millions of people ready themselves to hit the roads over the Fourth of July holiday weekend.The national average for a gallon of gas on Thursday stood at $3.16, which amounts to a nearly 10% decline from a year ago, AAA data showed. Gas prices dropped in recent weeks as crude oil erased a spike set off by the outbreak […]

(NEW YORK) -- Hiring surged in June as businesses navigated uncertainty surrounding President Donald Trump's tariffs, federal government data on Thursday showed. The reading exceeded economists' expectations.The U.S. added 147,000 jobs in June, according to data from the U.S. Bureau of Labor Statistics. That figure showed a slight increase from 139,000 jobs added in the previous month. The unemployment rate ticked down to 4.1%, putting it at near-historic lows.Key measures […]

(NEW YORK) -- The United States dollar is suffering its worst start to a year in more than five decades, likely triggering a price hike for some everyday items and a jump in expenses faced by travelers abroad, some analysts told ABC News.The greenback has fallen more than 10% in value this year relative to a group of foreign currencies that belong to top U.S. trading partners.Investors have fled U.S. […]

(WASHINGTON) -- Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash interest rates.When asked on Tuesday about a possible interest rate cut at the Fed's meeting this month, Powell said, "I wouldn't take any meeting off the table or put any […]

(NEW YORK) -- A bankruptcy court this week approved the $305 million sale of genetics testing firm 23andMe to a nonprofit organization led by the company's former CEO Anne Wojcicki, the company announced.The 23andMe bankruptcy earlier this year elicited fears about the security of genetic data belonging to the company's roughly 15 million customers.The TTAM Research Institute, or TTAM, a California-based nonprofit set to acquire 23andMe, plans to maintain the […]

Matteo Colombo/Getty Images (NEW YORK) -- The S&P 500 hit an all-time record high on Friday, extending breakneck gains achieved in recent weeks as investors shrugged off concerns about newly imposed tariffs and war in the Middle East.The S&P 500 climbed 0.3%, clocking in for the first time ever at 6,156.Over the past month -- even as U.S.-China trade tensions resurfaced and conflict grew in the Middle East -- the […]