Business News

(NEW YORK) -- A surging stock market, low unemployment and robust growth -- by just about every measure, the economy stood poised to deliver victory for Vice President Kamala Harris.The exception, of course, was inflation, and it appears to have overshadowed other indicators. More than two-thirds of voters say the economy is in bad shape, according to the preliminary results of an ABC News exit poll.Inflation likely shaped negative voter […]

(WASHINGTON) -- The Federal Reserve on Thursday will announce its latest decision on the direction of interest rates, setting the path for borrowing costs just two days after the victory of President-Elect Donald Trump.The Fed cut its benchmark interest rate a half of a percentage point in September, dialing back its yearslong fight against inflation and delivering relief for borrowers saddled with high costs.The Federal Open Market Committee (FOMC), a […]

Richard A. Brooks via Getty Images (WASHINGTON) -- As former President Donald Trump declared victory in the U.S. presidential election early Wednesday, shares of his media company, Trump Media & Technology, surged about 34% to about $45.49 in pre-market trading.With U.S. markets yet to open, early indicators appeared to show Wall Street's bullish view of a second term for Trump. As votes were still being, Dow futures were up, the […]

(NEW YORK CITY) -- The U.S. stock market climbed higher in early trading on Tuesday, as voters rushed to the polls and the nation awaited the results of a closely contested presidential election.The S&P 500 ticked upward about 1%. The Dow Jones Industrial Average gained more than 300 points, jumping about 0.8%. The tech-heavy Nasdaq rose 1.3%.Gains at large tech firms are helping to boost the market. Shares of Nvidia, […]

(SEATTLE) -- Tens of thousands of striking Boeing machinists are casting ballots on Monday over whether to approve a contract offer that could end their work stoppage after seven weeks.The new offer delivers higher pay increases and a bolstered ratification bonus that would deliver each worker $12,000 if the union approves the deal, according to the International Association of Machinists and Aerospace Workers (IAM), the union representing 33,000 Boeing workers in Washington, Oregon and California.The ongoing […]

(WASHINGTON) -- U.S. hiring slowed in October, but fallout from hurricanes and labor strikes likely caused an undercount of the nation’s workers.A fresh jobs report marked the final piece of major economic data before Election Day. However, the data offers little more than a blurry snapshot of the U.S. economy due to the one-off disruptions last month.Employers added 12,000 workers last month, falling short of economist expectations of 90,000 additional […]

James Marshall via Getty Images (NEW YORK) -- The U.S. economy grew at a robust pace over three months ending in September, slowing slightly from the previous quarter but continuing to dispel any concern about a possible slowdown. The fresh report marks one of the last major pieces of economic data before the presidential election.U.S. GDP grew at a 2.8% annualized rate over three months ending in September. That figure […]

(NEW YORK) -- A newly filed lawsuit has accused Subway of “unfair and deceptive trade practices” and selling its steak-and-cheese sandwiches based on “false and misleading advertisements,” that the lawsuit claims show customers getting at least three times more meat than is actually in the product.The class-action complaint against Subway was filed on Monday in the United States District Court for the Eastern District of New York by plaintiff Anna […]

(SEATTLE) -- Boeing machinists overwhelmingly rejected a contract proposal this week, opting to extend a weekslong strike and send negotiators back to the bargaining table.Sixty-four percent of workers voted against the new contract, according to the International Association of Machinists and Aerospace Workers (IAM), the union representing 33,000 Boeing workers in Washington, Oregon and California.The outcome follows the resounding defeat of a previous proposal last month, which drew rebuke from […]