Business

Rite Aid files for bankruptcy, announces financial restructuring plans amid opioid complaints, lawsuits

Monday, October 16 by ABC News

(NEW YORK) -- One of the nation's largest drugstore chains has voluntarily initiated the Chapter 11 process for bankruptcy protection.Rite Aid announced Sunday that the company had reached an agreement with creditors on the terms of its financial restructuring plan that will "increase its... Read More.

Real estate groups urged the Fed to stop rate hikes. Here’s why.

Saturday, October 14 by ABC News

(WASHINGTON) -- Major housing industry groups voiced "profound concern" in a letter this week urging the Federal Reserve to stop raising interest rates.The rare public admonishment from top business advocates -- including the National Association of Realtors and the National Association of Home Builders... Read More.

Family Dollar issues mass nationwide recall on toothpaste, vitamins, pain relievers and more

Saturday, October 14 by ABC News

(NEW YORK) -- Variety discount store Family Dollar recently initiated multiple recalls on products ranging from over-the-counter drugs to toothpaste sold at regional chains in nearly two dozen states.The company first issued an announcement Oct. 5, which was published Oct. 10 by the U.S.... Read More.

Executives and employees at Israel’s startups are joining the fight against Hamas

Friday, October 13 by ABC News

(NEW YORK) -- Israel’s government is mobilizing 360,000 reservists as the nation responds to the sudden attack by Palestinian militants.Global companies with a presence in Israel are moving quickly to safeguard their employees and come up with contingency plans if needed. Bank of America,... Read More.

Birkenstock goes public on New York Stock Exchange

Thursday, October 12 by ABC News

(NEW YORK) -- Birkenstock took a big step forward on Wall Street this week, taking the nearly 250-year-old German shoe and sandal maker public.The footwear, often seen as a counter culture shoe for hippies, and in more recent years influencers, has become must-have footwear... Read More.

How AI can fuel financial scams online, according to industry experts

Thursday, October 12 by ABC News

(NEW YORK) -- There is growing fraud online in which scammers manufacture other identities to dupe financial institutions or their customers out of money -- and the crimes are only expected to grow more frequent with the increasing prevalence of artificial intelligence, experts say.A... Read More.

Inflation held steady in September, running hotter than expected

Thursday, October 12 by ABC News

(NEW YORK) -- Consumer prices rose 3.7% in September compared to a year ago, holding steady from the previous month and running hotter than economists had expected.While inflation has fallen significantly from a peak of about 9% last summer, price increases remain more than... Read More.

Fresh inflation data expected to show slight cooldown

Thursday, October 12 by ABC News

(NEW YORK) -- Inflation data to be released on Thursday will show whether price increases cooled or accelerated in September, offering the latest snapshot of expenses faced by U.S. households as the Federal Reserve readies to decide another rate hike next month.Economists expect consumer... Read More.

FTX founder Sam Bankman-Fried didn’t think rules applied to him, ex-girlfriend says

Wednesday, October 11 by ABC News

(NEW YORK) -- FTX founder Sam Bankman-Fried believed in utilitarianism and thought rules against lying or stealing inhibited his ability to maximize the greatest benefit for the most people, his former girlfriend and co-worker testified Wednesday at his federal fraud trial."He didn't think rules... Read More.

Here’s why interest rates are soaring for mortgages, credit cards

Wednesday, October 11 by ABC News

(NEW YORK) -- Mortgage rates stand at their highest level in more than two decades. The average rate for credit card holders tops anything on record at the Federal Reserve. Car loans have returned to 2008 levels, car research group Edmunds found.Pain-inducing interest rates... Read More.

FTC proposes new rule to ban junk fees, potentially saving consumers ‘tens of billions’

Wednesday, October 11 by ABC News

(WASHINGTON) -- The Federal Trade Commission is proposing a new rule that seeks to eliminate junk fees -- those hidden costs that can unexpectedly push up prices consumers pay at checkout.The proposed rule would apply to many industries across the economy, including event tickets,... Read More.

Israel-Hamas war causes spike in oil prices. Here’s what it means for gas costs, inflation

Tuesday, October 10 by ABC News

(NEW YORK) -- Oil prices have climbed over fears the Israel-Hamas war could embroil the wider petroleum-producing Gulf region and threaten global output.The global Brent oil benchmark rose nearly 5% in trading on Monday, reversing some of a major decline in recent weeks that had... Read More.

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Rite Aid files for bankruptcy, announces financial restructuring plans amid opioid complaints, lawsuits

Real estate groups urged the Fed to stop rate hikes. Here’s why.

Family Dollar issues mass nationwide recall on toothpaste, vitamins, pain relievers and more

Executives and employees at Israel’s startups are joining the fight against Hamas

Birkenstock goes public on New York Stock Exchange

How AI can fuel financial scams online, according to industry experts

Inflation held steady in September, running hotter than expected

Fresh inflation data expected to show slight cooldown

FTX founder Sam Bankman-Fried didn’t think rules applied to him, ex-girlfriend says

Here’s why interest rates are soaring for mortgages, credit cards

FTC proposes new rule to ban junk fees, potentially saving consumers ‘tens of billions’

Israel-Hamas war causes spike in oil prices. Here’s what it means for gas costs, inflation

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