Business

Bloomberg Creative/Getty Images (NEW YORK) — The Federal Reserve failed in its role as banking industry watchdog in the run up to the collapse of Silicon Valley Bank, the central bank said on Friday. The Fed sharply criticized leadership at Silicon Valley Bank for “a textbook case of mismanagement,” but the report also faulted the […]

(NEW YORK) –The threat of a looming recession has heightened interest in the most commonly used measure of economic health: Gross domestic product, or GDP. The metric commands attention as an all-in-one report card that signals whether the economy is awash in prosperity, mired in disaster or shuffling forward somewhere between the two. While imperfect, […]

(WASHINGTON) — Federal Reserve Chair Jerome Powell spoke over the phone with two Russian pranksters falsely posing as Ukrainian President Volodymyr Zelenskyy, the central bank confirmed to ABC News on Thursday. The incident, which took place in January, has been referred to law enforcement, a spokesperson for the central bank told ABC News in a […]

Mike Kemp/In Pictures via Getty Images (NEW YORK) — An iconic Wendy’s menu item will soon be available to consumers without pulling up to a drive-thru window. On Wednesday, Wendy’s announced a partnership with Conagra Brands to bring its beloved chili into kitchens across the country. Starting this summer, local retailers and grocers, plus select […]

KenWiedemann/Getty Images (NEW YORK) — On the heels of Bed Bath and Beyond filing for bankruptcy and planning to close all of its stores, The Container Store has good news for customers with excess blue coupons. Through the end of May, The Container Store will accept the commonly seen coupons from its home organization competitor. […]

(WASHINGTON) — The U.S. economy slowed at the start of 2023, suggesting that an aggressive series of interest rate hikes at the Federal Reserve has cooled business activity even as the stock and job markets have made gains. U.S. gross domestic product grew by a 1.1% annualized rate over the three months ending in March, […]

(WASHINGTON) — After saving up for three years during which they sometimes worked 80 hours a week, Tawanda Hall and her husband purchased their dream home in the suburbs of Detroit in 2010. The five-bedroom house was supposed to be their “forever home” — it had enough room for their family, and the location offered […]

(NEW YORK) — If you’re looking to buy a home, new federal rules may impact how much you pay for a mortgage. Beginning May 1, upfront fees for loans backed by Fannie Mae and Freddie Mac will be adjusted because of changes in the Loan Level Price Adjustments (LLPAs). Those fees are based on things […]

(NEW YORK) — The seismic exit of Fox News host Tucker Carlson this week elicited reaction from politicians as varied as former President Donald Trump and Rep. Alexandria Ocasio-Cortez, D-N.Y. But the move also sent shockwaves across Wall Street. Shares of Fox News-parent company Fox Corporation on Monday tumbled more than 3%, which amounts to […]

Aitor Diago/Getty Images (NEW YORK) — Disney filed a lawsuit Wednesday in U.S. District Court against Florida Gov. Ron DeSantis and various Florida officials over a campaign the company alleges was “patently retaliatory, patently anti-business, and patently unconstitutional.” This is a developing story. Please check back for updates. Disney is the parent company of ABC […]