Business News

Injection pens for the weight-loss treatment Wegovy, manufactured by Novo Nordisk A/S, on display during a news conference in Mumbai, India, on Tuesday, June 24, 2025.(Photographer: Dhiraj Singh/Bloomberg via Getty Images) (NEW YORK) -- The cash price for popular weight-loss medications Wegovy and and the medication authorized for people with type 2 diabetes Ozempic are dropping by 30% in U.S. on Monday, according to Novo Nordisk, the Danish pharmaceutical company […]

(NEW YORK) -- New York City Mayor-elect Zohran Mamdani, a democratic socialist who says he wants to hike taxes on the rich, set off alarm among some critics about a potential exodus of wealthy people bent on keeping their money out of government coffers.As the warning goes, a tax increase at the top could drive away affluent New Yorkers and undercut revenue meant to fund proposals like universal child care, […]

(NEW YORK) -- Consumer sentiment soured in October as a government shutdown threatens to weaken a wobbly economy beset by an uptick in inflation and a sharp slowdown of hiring, fresh data on Friday showed. The reading marked a decrease from the previous month but it came in higher than economists expected.Shopper attitudes have worsened for three consecutive months, resuming a decline that took hold after President Donald Trump took office, University of […]

(NEW YORK) -- Starbucks baristas are set to walk off the job in dozens of U.S. cities on Thursday, aiming to galvanize public support and pressure the company on “Red Cup Day,” the coffee giant's annual holiday promotion.More than 1,000 Starbucks workers will go on strike at about 65 stores scattered across states as far-flung as California, Texas and Pennsylvania, Starbucks Workers United (SWU), the union representing the workers, told […]

(WASHINGTON) -- The longest government shutdown in U.S. history could end as soon as Wednesday, ultimately putting hundreds of thousands of federal employees back to work, funding food stamps and smoothing out major travel disruptions.The reopening averts a recession that may have come to pass in the event of a prolonged shutdown lasting weeks or months longer, analysts told ABC News.A return of federal-worker backpay and the resumption of SNAP benefits, meanwhile, is set to undo […]

(NEW YORK) -- Stocks closed markedly higher on Monday after the Senate voted hours earlier to advance a potential deal on the government shutdown, which has weighed on economic output and cast uncertainty over markets for well over a month.The Dow Jones Industrial Average closed up 380 points, or 0.8%, while the S&P 500 climbed 1.5%. The tech-heavy Nasdaq increased 2.2%.Lawmakers in a rare Sunday session cleared a key hurdle toward potentially reopening the government by […]

(NEW YORK) -- President Donald Trump over the weekend vowed to provide each American a $2,000 dividend to be distributed from what he said was tariff revenue."A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” the president wrote on social media Sunday, in part.Within hours, however, Treasury Secretary Scott Bessent cast doubt on the plan, saying the payout could merely refer […]

(WASHINGTON) -- The government shutdown halted the release of key economic data, choking off the flow of information as some experts warn the economy may be slipping toward a recession, some economists told ABC News.A federal agency postponed the release of a monthly jobs report on Friday, leaving observers in the dark about the status of a sharp hiring slowdown. If the government shutdown stretches into next week, fresh inflation […]

Traders work on the floor of the New York Stock Exchange (NYSE) on Nov. 7, 2025 in New York City. (Spencer Platt/Getty Images) (NEW YORK) -- Stocks rose in early trading on Monday after the Senate voted hours earlier to advance a potential deal on the government shutdown, which has weighed on economic output and cast uncertainty over markets for well over a month.The Dow Jones Industrial Average jumped 240 points, or 0.5%, while […]