Business

RapidEye/Getty Images (NEW YORK) — Red Lobster has voluntarily filed for Chapter 11 bankruptcy, according to a recent press release shared with ABC News. The largest seafood chain in the U.S., home to Cheddar Bay biscuits, Lobsterfest, Ultimate Endless Shrimp and more, filed the legal action on May 19 in the U.S. Bankruptcy Court for […]

A Target store stands in Manhattan on March 5, 2024 in New York City. (Spencer Platt/Getty Images) (NEW YORK) — Retail giant Target announced Monday it is lowering prices on around 5,000 items in its stores across the country. The Minneapolis-based retailer said the price cuts are meant to both make sure its prices stay […]

The Wendy’s Company (NEW YORK) — Wendy’s is enticing its customers with a new deal amid increased prices at fast food chains. Beginning Monday, May 20, customers can get a breakfast combination deal from Wendy’s for only $3, according to a press release from the chain. The meal combo includes a small portion of seasoned […]

Michael M. Santiago/Getty Images (NEW YORK) — The blazing hot stock market seems to set new records just about every day. The Dow Jones Industrial Average stands above 40,000 for the first time in history, after climbing nearly 20% since October. Over that period, the S&P 500 and the Nasdaq have each soared even higher, […]

Morry Gash-Pool/Getty Images (NEW YORK) — U.S. adults trust former President Donald Trump over President Joe Biden on the issue of inflation by a double-digit margin, according to a new ABC News/Ipsos poll this month, which found that price increases remain a top concern for voters, with less than six months to go until Election […]

Beata Zawrzel/NurPhoto via Getty Images (TUSCALOOSA, Ala.) — Thousands of Mercedes-Benz workers in Alabama voted against joining the United Auto Workers (UAW) on Friday, delivering a significant defeat for the union one month after it prevailed at a Volkswagen facility in nearby Tennessee. Workers at a Mercedes-Benz plant near Tuscaloosa, Alabama cast ballots against joining […]

Spencer Platt/Getty Images (NEW YORK) — The Dow Jones Industrial Average crossed 40,000 for the first time in history on Thursday. This is a significant and symbolic milestone for the index that tracks 30 of the most valuable publicly traded companies in the U.S. The Dow is now up about 6% so far this year. […]

Kinga Krzeminska/Getty Images (NEW YORK) — As Americans continue to experience sticker shock with volatile food costs, a slight ease of inflation last month could provide relief for consumers’ wallets — particularly at the grocery store. Food prices rose at a much slower pace than overall inflation since the same time last month, the Department […]

FDA (NEW YORK) — Aldi and Hy-Vee shoppers, check your refrigerator for cream cheese products that have been recalled due to possible salmonella contamination. Details of Aldi, Schreiber Foods, and Hy-Vee cream cheese recalls “In cooperation with Schreiber Foods, Inc., and out of an abundance of caution, ALDI Inc., recalls its Happy Farms Whipped Cream […]

RiverNorthPhotography/Getty Images (NEW YORK) — Walgreens Boots Alliance announced Wednesday that it plans to sell its own generic version of the overdose reversal drug Narcan. Narcan is given as a nasal spray and the active ingredient in the medication — naloxone — can quickly restore breathing if someone is experiencing an opioid overdose and if […]