Business

(NEW YORK) — The collapse of First Republic Bank on Monday left it under control of the U.S. government, which quickly sold the bank to JPMorgan Chase. The move aimed to shore up the financial system after a cascade of major bank failures. JPMorgan Chase, the nation’s largest bank, retained the majority of First Republic’s […]

(LOS ANGELES) — Unions representing thousands of Hollywood movie and television writers voted last month to authorize a strike when their contracts run out at midnight on Tuesday. The WGA called for a strike effective 12:01 a.m. PT on Tuesday. Now, the time is here, with writers demanding that studios pay them accordingly as shifts […]

(CARLSBAD, Calif.) — Weight loss giant Jenny Craig may shutter its corporate offices as early as Friday as part of a likely transition to an e-commerce company, ABC News has learned. In WARN Act letters sent by the company to employees and obtained by ABC News, Jenny Craig notified employees that it plans to close […]

(NEW YORK) — First Republic Bank has become the third bank to fail in recent months and the giant JPMorgan Chase will assume all of its assets, according to the Federal Deposit Insurance Corporation. The FDIC said the deal avoids the agency having to use its emergency powers and would minimize disruptions for customers. It […]

(NEW YORK) — Turmoil in the financial system returned this week as shares of First Republic Bank, the nation’s 14th-largest lender, plummeted more than 75%. The selloff took hold after the bank revealed that depositors had fled en masse last month after the collapse of Silicon Valley Bank, the largest U.S. bank failure since the 2008 […]

(NEW YORK) — Kia and Hyundai owners whose cars were damaged or stolen in the wake of a social media video teaching people how to easily steal the cars are now waiting months for repairs after a shortage of parts. Many of the cars are recovered within a few days after the thieves are done with […]

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 […]