Business News

U.S. President Donald Trump speaks during a bilateral meeting with President of Ukraine Volodymyr Zelensky at the 80th session of the UN’s General Assembly (UNGA) at the United Nations headquarters on September 23, 2025 in New York City. World leaders convened for the 80th Session of UNGA, with this year’s theme for the annual global meeting being “Better together: 80 years and more for peace, development and human rights.” (Photo […]

(NEW YORK) -- The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump's tariff policy, federal government data on Thursday showed.The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government's final estimate, besting a 3.3% rate issued in its second estimate and far exceeding a 3% initial estimate.The figure marked a sharp […]

A close-up of a Starbucks coffee shop sign on September 8, 2025 in Cardiff, Wales. (Photo by Matthew Horwood/Getty Images) (NEW YORK) -- Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday.The company will slash 900 employees at its stores in North America, Niccol said. The store closures will amount […]

(WASHINGTON) --The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its second interest rate cut this year in an effort to jumpstart the flagging labor market.The widely expected move delivers a lowering of interest rates sought by President Donald Trump, though the size of the cut falls short of the major drawdown called for repeatedly by the president.The policy marks the […]

(WASHINGTON) -- The Federal Reserve on Wednesday will set the level of its benchmark interest rate, adjusting a major policy lever for the first time since a government shutdown sharply restricted the release of gold-standard federal data about the economy.In a rare exception, the U.S. government issued an inflation report last week showing a continued acceleration of price increases, which may complicate the Fed’s effort to revive a flagging labor […]

(NEW YORK) -- Amazon is set to lay off thousands of corporate workers, despite billions in profits and lucrative lines of business spanning from e-commerce to cloud computing. The reason is artificial intelligence, the company said in a memo to employees on Tuesday."Some may ask why we're reducing roles when the company is performing well," wrote Beth Galetti, Senior Vice President of People Experience and Technology at Amazon."What we need […]

(WASHINGTON) -- Federal Reserve Chair Jerome Powell warned a recent uptick of inflation, alongside a hiring slowdown, poses a "challenging situation" for central bankers as they aim to steer the U.S. economy through a "turbulent period."The Fed, which opted to cut interest rates last week, is guided by a dual mandate to keep inflation under control and maximize employment. Speaking at the Greater Providence Chamber of Commerce, in Providence, Rhode […]

(NEW YORK) -- Prices for home appliances, cars and auto parts could be impacted by President Donald Trump’s decision overnight to end trade talks between the U.S. and Canada, some trade experts told ABC News.Trump said he's terminating trade negotiations with Canada in response to a negative TV advertisement about tariffs rolled out earlier this month by the Canadian province of Ontario."TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND […]

Stock image of a social security card alongside US dollars. (Tetra Images/STOCK PHOTO/Getty Images) (NEW YORK) -- Social security benefits will rise 2.8% starting in January, amounting to an additional $56 per month for 75 million recipients, the Social Security Administration (SSA) said on Friday.The cost-of-living adjustment for 2026, known as COLA, came in slightly higher than the prior year's hike of 2.5%. Over the past decade, the average COLA […]