Business

In this undated file photo, a Red Lobster Restaurant is shown. (Jeff Greenberg/UIG via Getty Images) (NEW YORK) — Red Lobster has abruptly closed at least 99 locations across the country with restaurants shutting their doors in at least 27 states. Tagex Brands, a company that handles restaurant liquidation auctions, told ABC News that Red […]

Bloomberg Creative/Getty Images (WASHINGTON) — Consumer prices rose 3.4% in April compared to a year ago, slowing slightly from the previous month and offering a welcome sign for the Federal Reserve in its yearslong inflation fight. The fresh data matched economists’ expectations. After falling dramatically over the course of last year, inflation had accelerated in […]

Mercedes-Benz logo see on a Mercedes-Benz vehicle in Edmonton, on October 26, 2023, in Edmonton, Alberta, Canada. (Artur Widak/NurPhoto via Getty Images) (NEW YORK) — Thousands of Mercedes-Benz workers in Alabama are voting on a union this week, marking a major test for the United Auto Workers just one month after a watershed victory in […]

Bloomberg Creative/Getty Images (WASHINGTON) — The White House and Wall Street will closely watch Wednesday’s inflation report for any signs that the Federal Reserve’s aggressive cooldown efforts are working. After falling dramatically over the course of last year, inflation has accelerated in recent months. Recalcitrant prices have forced the Fed to postpone highly anticipated interest […]

A driver is seen inside of a Tesla Model Y car during its presentation at the Automobile Club, Sept. 5, 2020, in Budapest, Hungary. (Attila Kisbenedek/AFP via Getty Images) (NEW YORK) — An oft-touted advantage of owning an electric vehicle is one-pedal driving, when drivers can slow down a vehicle simply by lifting off the […]

Silas Stein/picture alliance via Getty Images (NEW YORK) — OpenAI announced a desktop version of its conversation bot ChatGPT on Monday as well as the latest iteration of the AI language model that fuels the chatbot. The fresh model offers improved speed and interactive capability when compared with the company’s previous model GPT-4, OpenAI Chief […]

Justin Sullivan/Getty Images (NEW YORK) — McDonald’s could soon be lowering prices and possibly launching a new value meal to its menus. The Golden Arches currently offer some individual items on its $1, $2, $3 menu, but it may be rolling out a new value meal with a McChicken or McDouble, fries and a drink […]

Thomas Northcut/Getty Images/STOCK (NEW YORK) — Roughly 15 years after a housing bubble triggered the worst U.S. financial disaster since the Great Depression, some observers are voicing concern that the industry has fallen into another bubble. Home prices are soaring, despite high mortgage rates that in theory should crimp demand and push down prices. The […]

Target has announced that it will only sell their Pride Month collection in select stores after suffering a backlash and boycott last year during the 2023 Pride season. — Target (NEW YORK) — Target has announced that it will only sell their Pride Month collection in select stores after suffering a backlash and boycott last […]

Justin Sullivan/Getty Images (NEW YORK) — The borrowing cost for student loans is poised to reach a 16-year high. The interest rate on a federal undergraduate student loan is expected to climb to 6.5% in July, which would mark its highest level since 2008, financial-aid expert Mark Kantrowitz told ABC News. The current interest rate […]