Business

Foot Locker announces plan to close 400 stores by 2026

Wednesday, March 22 by ABC News

(NEW YORK) -- Foot Locker plans to close 400 stores in North America by 2026 as it rebrands part of its business, the company announced Monday.The company plans to close many underperforming stores in shopping malls while focusing on strengthening its standalone stores with new... Read More.

US banking system ‘sound and resilient,’ Fed Chair Jerome Powell says

Wednesday, March 22 by ABC News

(WASHINGTON) -- Federal Reserve Chair Jerome Powell on Wednesday called the U.S. banking system "strong and resilient," voicing confidence in the nation's financial system and the safety of bank deposits less than two weeks after the failure of Silicon Valley Bank, the second-biggest bank collapse... Read More.

Fed raises interest rates 0.25%, intensifying inflation fight despite banking fears

Wednesday, March 22 by ABC News

(WASHINGTON) -- The Federal Reserve on Wednesday raised its short-term borrowing rate another 0.25%, intensifying the central bank's fight against inflation despite concern that previous rate increases helped trigger the nation's banking crisis.The Fed's benchmark interest rate has contributed to the financial emergency facing U.S.... Read More.

Fed to decide on rate hike as it weighs priority of banking crisis or inflation fight

Wednesday, March 22 by ABC News

(WASHINGTON) -- Policymakers and investors will closely watch a decision from the Federal Reserve on Wednesday about whether to raise interest rates as the U.S. economy weathers two pressing challenges: a banking crisis and persistent inflation.The precarious moment poses a dilemma for the Fed... Read More.

Former Trump official calls TikTok a ‘digital virus’

Tuesday, March 21 by ABC News

(NEW YORK) -- TikTok is facing growing scrutiny from government officials over cybersecurity fears about Americans' data. U.S. officials are reportedly demanding that Chinese owners sell its stake in the app or risk a nationwide ban.Later this week, TikTok CEO Shou Zi Chew is set... Read More.

Yellen says bank ‘situation is stabilizing,’ smaller banks play important role

Tuesday, March 21 by ABC News

(WASHINGTON) -- Treasury Secretary Janet Yellen said Tuesday that "the situation is stabilizing and the U.S. banking system remains sound," after regional bank failures have shaken the U.S. banking system."The Fed's facility and discount window lending are working as intended to provide liquidity to... Read More.

Experts answer questions on home, car buying amid high interest rates and banking crisis

Tuesday, March 21 by ABC News

(NEW YORK) -- As fallout continues from the Silicon Valley Bank collapse -- the second-biggest bank failure in U.S. history -- people across the country are simultaneously feeling the impact of inflation in their pocketbooks.The Federal Reserve will meet Wednesday to decide whether to... Read More.

Yellen to say bank ‘situation is stabilizing,’ smaller banks play important role

Tuesday, March 21 by ABC News

(WASHINGTON) -- Treasury Secretary Janet Yellen plans to say during a speech on Tuesday that “the situation is stabilizing and the U.S. banking system remains sound,” according to excerpts of her prepared remarks provided by the Treasury Department.“The Fed facility and discount window lending... Read More.

The banking crisis threatens the Fed’s inflation fight. Here’s how.

Tuesday, March 21 by ABC News

(NEW YORK) -- The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, has thrust the financial system into distress, pulling attention away from a separate problem: sky-high inflation.The twin economic challenges pose a dilemma for the Federal Reserve because its... Read More.

Fed was aware of Silicon Valley Bank problems more than a year before its collapse

Monday, March 20 by ABC News

(WASHINGTON) -- The Federal Reserve was aware of risks to Silicon Valley Bank more than a year before its collapse, ABC News confirmed on Monday following a New York Times report.Even more, ABC News has confirmed a Wall Street Journal report that the Fed... Read More.

New to electrification? Try a plug-in hybrid first

Monday, March 20 by ABC News

(NEW YORK) -- Let's be honest: electric vehicles can get a bad rap.Maybe it's range anxiety. Or the scarcity -- and uncertainty -- of public charging stations. Both are valid reasons why some Americans are dubious of electric vehicles.More industry watchers are now arguing... Read More.

‘Uncharted territory’: How would a TikTok ban in the US work?

Monday, March 20 by ABC News

(NEW YORK) -- Awkward dads and their eager children may not dance together on TikTok for much longer -- at least not in the U.S.The prospect of a nationwide TikTok ban has escalated from a theoretical possibility to a serious policy consideration, drawing growing support... Read More.

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Foot Locker announces plan to close 400 stores by 2026

US banking system ‘sound and resilient,’ Fed Chair Jerome Powell says

Fed raises interest rates 0.25%, intensifying inflation fight despite banking fears

Fed to decide on rate hike as it weighs priority of banking crisis or inflation fight

Former Trump official calls TikTok a ‘digital virus’

Yellen says bank ‘situation is stabilizing,’ smaller banks play important role

Experts answer questions on home, car buying amid high interest rates and banking crisis

Yellen to say bank ‘situation is stabilizing,’ smaller banks play important role

The banking crisis threatens the Fed’s inflation fight. Here’s how.

Fed was aware of Silicon Valley Bank problems more than a year before its collapse

New to electrification? Try a plug-in hybrid first

‘Uncharted territory’: How would a TikTok ban in the US work?

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