Business News

Latest Business Video

Latest Business Headlines

2 hours ago

Former Twitter worker convicted of spying for Saudi Arabia

A former Twitter employee has been convicted of spying for Saudi Arabia, conspiracy to commit wire fraud and money laundering
2 hours ago
FILE - A sign is pictured outside the Twitter headquarters in San Francisco, Monday, April 25, 2022. A former Twitter employee has been convicted of failing to register as an agent for Saudi Arabia and other charges after accessing private data on users critical of the kingdom’s government in a spy case that spanned from Silicon Valley to the Middle East. (AP Photo/Jed Jacobsohn, File)
August 09

Wall Street slips as weak earnings hit tech, travel stocks

Stocks are closing lower on Wall Street as disappointing earnings reports weighed on technology and travel companies
August 09
A person wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Tuesday, Aug. 9, 2022, in Tokyo. Asian shares mostly declined Tuesday amid a global fall in technology shares, including Japan's SoftBank, which has reported hefty losses caused by the market downturn. (AP Photo/Eugene Hoshiko)
August 09

How major US stock indexes fared Tuesday 8/09/2022

Stocks closed lower on Wall Street as disappointing earnings reports weighed on technology and travel companies
August 09
August 09

Micron, Novavax fall; Qualys, Nielsen Holdings rise

Stocks that traded heavily or had substantial price changes Tuesday: Micron, Novavax fall; Qualys, Nielsen Holdings rise
August 09
August 09

Chipotle to pay NYC workers $20M for violating labor laws

The fast-food chain Chipotle Mexican Grill will pay $20 million to current and former workers at its New York City restaurants for violating city labor laws
August 09
August 09

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for September delivery fell 26 cents to $90.50 a barrel Tuesday
August 09
August 09

Warren Buffett's company has bet $47B on the oil sector

Berkshire Hathaway has control of more than 20% of Occidental Petroleum.
August 09
FILE - In this May 5, 2019, file photo, Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Buffett's Berkshire Hathaway now controls nearly 20% of Occidental Petroleum's stock after picking up another $250 million worth of shares of the oil producer this week. Buffett has been buying stocks aggressively this year as the market fell, including investing more than $51 billion in the first quarter alone. (AP Photo/Nati Harnik, File)
August 09

US inflation will likely stay high even as gas prices fall

Americans may finally be catching a break from relentlessly surging prices — if just a slight one — even as inflation is expected to remain painfully high for months
August 09
FILE - Gas prices are displayed at a Sunoco gas station along the Ohio Turnpike near Youngstown, Ohio, Tuesday, July 12, 2022. Thanks largely to falling gas prices, the government’s inflation report for July, to be released Wednesday, Aug. 10, 2022, will probably show that prices jumped 8.7% from a year earlier, according to a survey of economists by data provider FactSet. (AP Photo/Gene J. Puskar, File)
August 09

Learning from failures: How Biden scored win on climate plan

Many pieces of President Joe Biden's domestic agenda have been jettisoned over the last year, but his proposals on climate change remain largely intact
August 09
Sen. Bernie Sanders, I-Vt., speaks with reporters on Capitol Hill in Washington, Aug. 6, 2022. Although many pieces of President Joe Biden's domestic agenda were jettisoned over the last year, his proposals on climate change remained largely intact. The legislation was passed by the Senate over the weekend and is expected to receive a vote in the House on Friday. (AP Photo/Patrick Semansky)
August 09

Kenya in close presidential election amid prayers for peace

Voting is underway in Kenya's unusual presidential election.
August 09
A Maasai woman casts her vote at a polling station in Esonorua Primary School, in Kajiado County, Kenya Tuesday, Aug. 9, 2022. Polls opened Tuesday in Kenya's unusual presidential election, where a longtime opposition leader who is backed by the outgoing president faces the deputy president who styles himself as the outsider. (AP Photo/Ben Curtis)
August 09

Biden signs $280B CHIPS act in bid to boost US over China

President Joe Biden has signed a $280 billion bipartisan bill to boost domestic high-tech manufacturing
August 09
President Joe Biden with first lady Jill Biden waves as they walk on the South Lawn of the White House in Washington, upon arrival from a trip to visit flood affected areas in Kentucky, Monday, Aug. 8, 2022. (AP Photo/Manuel Balce Ceneta)
August 09

Estonia, Finland want Europe to end Russian tourist visas

Estonia and Finland want European countries to stop issuing tourist visas to Russians amid the war in Ukraine
August 09
FLE - Finland's Prime Minister Sanna Marin, left, speaks with Estonia's Prime Minister Kaja Kallas during a round table meeting at an Eastern Partnership Summit in Brussels, on Dec. 15, 2021. Estonia and Finland want European countries to stop issuing tourist visas to Russians amid the war in Ukraine. Estonian Prime Minister Kaja Kallas said Tuesday that “visiting Europe is a privilege, not a human right.” Her Finnish counterpart, Sanna Marin, says Russians traveling in Europe is "not right.” (AP Photo/Geert Vanden Wijngaert, Pool)
August 09

Most electric vehicles won't qualify for federal tax credit

There are stringent requirements about which vehicles get the credit.
August 09
FILE - A sales associate talks with a prospective buyer of a Cooper SE electric vehicle on the showroom floor of a Mini dealership July 7, 2022, in Highlands Ranch, Colo. The surprise deal by Senate Democrats on a pared-down bill to support families, boost infrastructure and fight climate change is likely to jump start sales of electric vehicles. (AP Photo/David Zalubowski, File)
August 09

New research pushes states on distracted driving

New research indicates that state laws that are broadly worded to prohibit drivers from holding a cell phone under any circumstance appear to be effective in reducing rear-end crashes
August 09
FILE - A driver uses a cell phone in Yarmouth, Maine, Sept. 8, 2009. New research indicates that state laws that are broadly worded to prohibit drivers from holding a cell phone under any circumstance appear to be effective in reducing rear-end crashes. The research paper, published by the Insurance Institute for Highway Safety on Tuesday, Aug. 9, 2022, looked at data from Oregon, Washington and California and compared it to Colorado and Idaho. (AP Photo/Robert F. Bukaty, File)
August 09

Kia recalls sedans because plates in ceiling can come loose

Kia is recalling nearly 260,000 older midsize cars in the U.S. because plates in the ceiling can come loose if the side curtain air bags inflate in a crash
August 09
August 09

Pandemic fuels sports biking boom in cycling nation China

Cycling is growing in popularity in China as a sport, not just a way to get to work
August 09
Members of the Qiyi bicycle club climb a hill on a rural road during a group ride through the Baihe River Canyon in the northern outskirts of Beijing, Wednesday, July 13, 2022. Cycling has gained increasing popularity in China as a sport. A coronavirus outbreak that shut down indoor sports facilities in Beijing earlier this year encouraged people to try outdoor sports including cycling, which was only a major tool of transport before 2000. (AP Photo/Mark Schiefelbein)
August 09

Homegrown foundation leader builds bridges, trust in Flint

As CEO of the Community Foundation of Greater Flint, Isaiah Oliver is well known throughout the city
August 09
August 09

Billions pour into bioplastics as markets begin ramping up

Billions of dollars in investments are pouring into companies changing the recipe for plastic
August 09
Kevin Welsh holds up PHA pellets at the Danimer Scientific plant on Wednesday, Aug. 3, 2022 in Winchester, Ky. Companies are investing billions of dollars to ramp up production of plastics made from natural, renewable materials that can be safely composted or can biodegrade under the right conditions. Danimer Scientific is one of the companies making a big bet on bioplastic with its expansion of a plant. (AP Photo/Jeff Dean)
August 09
A depiction of a rare earth mining operation in Myanmar. (AP Illustration/Peter Hamlin)
August 09

Russia successfully launches Iranian satellite

A Russian rocket has successfully launched an Iranian satellite into orbit
August 09
In this handout photo taken from video released by Roscosmos on Tuesday, Aug. 9, 2022, a Russian Soyuz rocket lifts off to carry Iranian Khayyam satellite into orbit at the Russian leased Baikonur cosmodrome near Baikonur, Kazakhstan. A Russian rocket has successfully launched an Iranian satellite into orbit. The Soyuz rocket lifted off as scheduled at 8:52 a.m. Moscow time (0552 GMT) Tuesday from the Russia-leased Baikonur launch facility in Kazakhstan. (Roscosmos via AP)
August 09

Snapchat safety features for parents announced

Parents will have the ability to see which friends sent their children messages.
August 09
In this photo illustration, the Snapchat logo is displayed on a cell phone screen on Feb. 3, 2022, in San Anselmo, Calif.
August 08

Asian shares mostly decline on global technology downturn

Asian shares are mostly declining amid a global fall in technology shares, including Japan’s SoftBank, which just reported hefty losses caused by the market downturn
August 08
FILE - The New York Stock Exchange on Wednesday, June 29, 2022, in New York. Stocks are opening lower on Wall Street Friday, Aug. 5, following much stronger than expected hiring data from the Labor Department.(AP Photo/Julia Nikhinson, File)
August 08

‘We’re seeing prices drop’: Travel expert on finding late summer and fall deals

ABC News’ Linsey Davis spoke with The Points Guy managing editor Clint Henderson on travel bargains as we move into the fall, and how to secure the best deals.
August 08
VIDEO: ‘We’re seeing prices drop’: Travel expert on finding late summer and fall deals
August 08

Southwest attendant suffers broken back in hard landing

A Southwest Airlines flight attendant suffered a compression fracture in her back during a hard landing last month in California
August 08
FILE - A Southwest Airlines flight prepares to land at Reagan National Airport, in Arlington, Va., Monday, Dec. 27, 2021. A Southwest Airlines flight attendant suffered a compression fracture to a vertebra in her upper back during a hard landing in July 2022 in California, according to federal safety investigators. (AP Photo/Jacquelyn Martin, File)
August 08

FAA clears Boeing to resume deliveries of 787 Dreamliner

Federal safety officials have confirmed they will let Boeing resume deliveries.
August 08
FILE - A Boeing 787 Dreamliner arrives at Ronald Reagan National Airport as part of a worldwide "Dream Tour" in Washington, May 7, 2012. Federal regulators said Monday, Aug. 8, 2022, that they are satisfied with changes Boeing has made in the production of its 787 Dreamliner passenger jet, clearing the way for the company to resume deliveries to airline customers “in the coming days.” (AP Photo/Evan Vucci, File)
August 08

Axios Media purchased by Cox Enterprises

Axios Media is being acquired by Cox Enterprises, which says it plans to push the online news provider into new markets while broadening its coverage
August 08
One of the buildings of the Cox Communications campus is surrounded by foliage in Atlanta on, Aug. 2, 2004. Cox Enterprises, which owns Cox Communications, is buying Axios Media for $525 million as it looks to grow and diversify its business. Cox, which became an investor in Axios last year, said Monday Aug. 8, 2022, that it will look to expand Axios into more cities, while having it cover more national topics and serve more premium niches for professionals. (AP Photo/Ric Feld, File)
August 08

Is the Inflation Reduction Act going to improve the economy?

ABC News business reporter Alexis Christoforous explains how the Inflation Reduction Act will improve the economy and why Americans won't feel the relief right away.
August 08
VIDEO: Is the Inflation Reduction Act going to improve the economy?
August 08

Environmentalist on need for climate change legislation

President and CEO of the Natural Resources Defense Council, Manish Bapna, joins ABC News Live to discuss the Inflation Reduction Act and its impact on the climate crisis.
August 08
VIDEO: Environmentalist on need for climate change legislation
August 08

How major US stock indexes fared Monday 8/08/2022

Stocks closed flat on Wall Street as investors prepare for a busy week of updates on inflation
August 08
August 08

Viatris, First Solar rise; Tyson Foods, Nvidia fall

Stocks that traded heavily or had substantial price changes Monday: Viatris, First Solar rise; Tyson Foods, Nvidia fall
August 08
August 08

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for September delivery rose $1.75 to $90.76 a barrel Monday
August 08
August 08

Ship carrying grain from Ukraine arrives in Istanbul

Russia and Ukraine are trading accusations that each side is shelling Europe’s biggest nuclear power plant in southern Ukraine
August 08
The cargo ship Polarnet arrives to Derince port in the Gulf of Izmit, Turkey, Monday Aug. 8, 2022. The first of the ships to leave Ukraine under a deal to unblock grain supplies amid the threat of a global food crisis arrived at its destination in Turkey on Monday. (AP Photo/Khalil Hamra)
August 08

American Airlines CFO on fixing balance sheet after pandemic

Derek Kerr might have the hardest job in the airline business
August 08
FILE - American Airlines aircraft wait at gates at Phoenix Sky Harbor International Airport in Phoenix, on June 7, 2021. Derek Kerr might have the hardest job in the airline business. He's the chief financial officer of American Airlines, and that means it's his job to fix a balance sheet that has been battered by borrowing money so American could survive the pandemic. (AP Photo/Jenny Kane, file)
August 08

In dry California, salty water creeps into key waterways

The Sacramento and San Joaquin Rivers are central arms of California's water system
August 08
August 08

Pfizer buying spree continues with $5.4B hematology deal

Pfizer is buying sickle cell drug maker Global Blood Therapeutics in an approximately $5.4 billion deal as it looks to accelerate growth after its revenue soared during the pandemic
August 08
FILE - The Pfizer logo is displayed on the exterior of a former Pfizer factory, on May 4, 2014, in the Brooklyn borough of New York. Pfizer is buying sickle cell drug maker Global Blood Therapeutics in an approximately $5.4 billion deal as it looks to accelerate growth after its revenue soared during the pandemic. Both companies' boards have approved the deal, which still needs regulatory approval and approval from GBT shareholders. (AP Photo/Mark Lennihan, File)
August 08

American Airlines CFO on fixing balance sheet after pandemic

Derek Kerr might have the hardest job in the airline business
August 08
FILE - American Airlines aircraft wait at gates at Phoenix Sky Harbor International Airport in Phoenix, on June 7, 2021. Derek Kerr might have the hardest job in the airline business. He's the chief financial officer of American Airlines, and that means it's his job to fix a balance sheet that has been battered by borrowing money so American could survive the pandemic. (AP Photo/Jenny Kane, file)
August 08

Pope encourages Cuban search crews after Matanzas blaze

Pope Francis is offering support to firefighters and search crews in Cuba following explosions at a big oil tank farm in the western province of Matanzas
August 08
Firefighters move in a truck inside the Matanzas supertanker base to douse a fire that started during a thunderstorm, in Matanzas, Cuba, Sunday, Aug. 7, 2022. Cuban authorities say lightning struck a crude oil storage tank at the base, sparking a fire that sparked four explosions that injured more than 121 people, one person dead and 17 missing. (AP Photo/Ramon Espinosa)
August 08

Pope encourages Cuban search crews after Matanzas blaze

Pope Francis is offering support to firefighters and search crews in Cuba following explosions at a big oil tank farm in the western province of Matanzas
August 08
Firefighters move in a truck inside the Matanzas supertanker base to douse a fire that started during a thunderstorm, in Matanzas, Cuba, Sunday, Aug. 7, 2022. Cuban authorities say lightning struck a crude oil storage tank at the base, sparking a fire that sparked four explosions that injured more than 121 people, one person dead and 17 missing. (AP Photo/Ramon Espinosa)
August 08

Water crisis looms for eastern Ukrainian city of Sloviansk

A lack of running water in the eastern Ukrainian city of Sloviansk means that residents must fill bottles by hand at public pumps throughout the city
August 08
Lyubov Mahlii wipes away sweat after dragging a crate of water bottles up the stairs to her fifth floor apartment in Sloviansk, Donetsk region, eastern Ukraine, Saturday, Aug. 6, 2022. The 76-year-old widow gathers 20 liters (5.3 gallons) of water twice a day from a public tank near her apartment. (AP Photo/David Goldman)
August 08

BioNTech reports strong first half, expects demand to grow

BioNTech, which teamed with Pfizer to develop a powerful COVID-19 vaccine, has reported higher revenue and net profit in the first half of the year
August 08
FILE - The headquarters of the German biotechnology company "BioNTech" is pictured in Mainz, Germany, March 30, 2022. BioNTech, which teamed with Pfizer to develop the first widely used COVID-19 vaccine, has reported higher revenue and net profit in the first half of the year. The German pharmaceutical company said Monday Aug. 8, 2022, that it expects demand to grow as it releases updated vaccines to target new omicron strains. (AP Photo/Michael Probst, File)
August 08

Hungary fines Ryanair over raising prices to cope with tax

Hungary has accused Ryanair of consumer protection violations after it raised ticket prices to cope with a tax on what the government calls “extra profits.”
August 08
FILE - A Ryanair plane takes off from Budapest Airport, in Budapest, Hungary, June 12, 2022. Hungary has accused Ryanair of consumer protection violations after it raised ticket prices to cope with a tax on what the government calls “extra profits.” Justice Minister Judit Varga wrote Monday, Aug. 8, 2022, on Facebook that an investigation found “unfair trade practices,” leading to a $777,058 fine. (AP Photo/Anna Szilagyi, File)
August 08

Nonprofits launch $100M plan to support local health workers

A new philanthropic project hopes to invest $100 million in up to 10 countries.
August 08
FILE - A man receives the AstraZeneca COVID-19 vaccine at Jabra Hospital in Khartoum, Sudan, Thursday, March 11, 2021. A new philanthropic project hopes to invest $100 million in up to 10 countries mostly in Africa by 2030 to support up to 200,000 community health workers. (AP Photo/Marwan Ali, File)
August 08

Productivity, consumer prices, Cardinal Health earns

The Labor Department issues its second-quarter snapshot of U.S. employee productivity Tuesday and its latest monthly index of inflation at the consumer level Wednesday
August 08
August 08

Not so fast: California's last nuke plant might run longer

California's last operating nuclear power plant could get a second lease on life
August 08
FILE - The Diablo Canyon Nuclear Power Plant, south of Los Osos, Calif., is viewed Sept. 20, 2005. California's last operating nuclear power plant could get a second lease on life. Owner Pacific Gas & Electric decided six years ago to close the twin-domed power plant by 2025. But Democratic Gov. Gavin Newsom, who was involved in the agreement to close the reactors, has prompted PG&E to consider seeking a longer lifespan for the plant. (AP Photo/Michael A. Mariant, File)
August 08

Not so fast: California's last nuke plant might run longer

California's last operating nuclear power plant could get a second lease on life
August 08
FILE - The Diablo Canyon Nuclear Power Plant, south of Los Osos, Calif., is viewed Sept. 20, 2005. California's last operating nuclear power plant could get a second lease on life. Owner Pacific Gas & Electric decided six years ago to close the twin-domed power plant by 2025. But Democratic Gov. Gavin Newsom, who was involved in the agreement to close the reactors, has prompted PG&E to consider seeking a longer lifespan for the plant. (AP Photo/Michael A. Mariant, File)
August 08

Asian stocks mixed after US job gain paves way for rate hike

Asian stock markets are mixed after strong U.S. jobs data cleared the way for more interest rate hikes and China reported its exports rose by double digits
August 08
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 8, 2022. Asian stocks were mixed Monday after strong U.S. jobs data cleared the way for more interest rate hikes and Chinese exports rose by double digits. (AP Photo/Ahn Young-joon)
August 08

Asian stocks mixed after US job gain paves way for rate hike

Asian stock markets are mixed after strong U.S. jobs data cleared the way for more interest rate hikes and China reported its exports rose by double digits
August 08
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 8, 2022. Asian stocks were mixed Monday after strong U.S. jobs data cleared the way for more interest rate hikes and Chinese exports rose by double digits. (AP Photo/Ahn Young-joon)
August 08

Asian stocks mixed after US job gain paves way for rate hike

Asian stock markets are mixed after strong U.S. jobs data cleared the way for more interest rate hikes and China reported its exports rose by double digits
August 08
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 8, 2022. Asian stocks were mixed Monday after strong U.S. jobs data cleared the way for more interest rate hikes and Chinese exports rose by double digits. (AP Photo/Ahn Young-joon)
August 07

What's in Democrats' big bill? Climate, health care, savings

The estimated $740 billion economic package from Democrats is nowhere near what President Joe Biden first envisioned with his effort to rebuild America’s public infrastructure and family support systems
August 07
FILE - The U.S. Capitol in Washington is pictured on Friday, August 5, 2022. Democrats pushed their election-year economic package to Senate passage Sunday, Aug. 7, 2022, a compromise less ambitious than Biden’s original domestic vision but one that still meets party goals of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. (AP Photo/Mariam Zuhaib, File)
August 07

Senate Democrats approve big Biden deal; House to vote next

The Senate has approved Democrats' big election-year economic package
August 07
Senate Majority Leader Chuck Schumer of N.Y., speaks during a news conference Friday, Aug. 5, 2022, at the Capitol Hill in Washington. (AP Photo/Mariam Zuhaib)