ABC - Business

France blames Iran for last month's cyberattack on supermarket fridges

France has blamed Iran for a cyberattack on supermarket fridges last month

Investigators recover the voice recorder from a jet crash in Florida that killed 9

Investigators say they have recovered the cockpit voice recorder of a business jet that plummeted from the sky amid severe weather in Florida last week

T. Cullen Davis, a Texas oil tycoon acquitted in a 1970s murder trial, has died at 93

Botswana says it will increase its stake in De Beers to 30% under proposed sale

Botswana’s president says that his diamond-rich southern African country will double its stake in De Beers to 30% under a proposed deal by a consortium to buy Anglo American’s shares

Explosion at steel plant in western Turkey leaves 10 dead and 4 missing

Turkish officials say that a huge explosion and fire at an iron and steel works in western Turkey have left at least 10 people dead

Upgrading power grids to accommodate renewable energy is a key issue at climate talks

Outdated power grids around the world are a major hurdle in the transition from fossil fuels to renewable energy

Leaders gather in Turkey for UN climate summit

World leaders, delegates and climate activists are in Antalya, Turkey, for a U.N. climate summit

Saudi Arabia intercepts missiles as Aramco building in Riyadh is damaged, and other Mideast news

Saudi Arabia has intercepted missiles targeting its capital and other regions

Democrats plan to push clean energy to lower bills and challenge Trump’s fossil fuel agenda

Some Democrats are promising to push for more clean energy to help tackle rising energy costs when they take control of Congress in January

From high-flying AI stocks to tariff-hit alcohol companies, the midterms shook up Wall Street

The overwhelming victory by the Democrats in the midterm elections shook up Wall Street this week

Berkshire Hathaway buys back $9.6B of its own stock but profits decline

Its overall profit fell more than 28% as the value of its investments changed.

Inflation, housing, jobs and corporate earnings will dominate the business calendar this week

Inflation updates dominate the calendar this week, along with a checkup on the housing market and more data on employment in the U.S. The latest updates come a week after voters across the U.S. gave Democrats a sweep of Congress in the midterm election...

Morocco celebrates 51st anniversary of Western Sahara takeover as UN mission ends

Morocco has commemorated the 1975 Green March that marks its claim over Western Sahara from Spanish rule

Small footwear company moves into spotlight with Bears QB Caleb Williams wearing its cleats

A small Baltimore-based company named Caddix is gaining attention after Chicago Bears quarterback Caleb Williams started using its cleats

Tesla's Cybertruck heads for an exit after years of hype and division

Tesla’s Cybertruck, the hulking, stainless-steel pickup that inspired devotion and derision with its science-fiction looks, will cease production next year

Turkey outlines plans for 'paradigm shift' in energy use ahead of climate summit

The Turkish energy minister has laid out plans for his country to wean itself away from coal and other fossil fuels as it prepares to host the COP31 climate change summit

Malaysia's ex-premier Najib will serve prison time at home after paying $12.3M fine

Malaysia’s former Prime Minister Najib Razak is set to leave prison to serve the rest of his graft sentence at home

Uninsured and flooded out, a Colorado man worries if life will be normal again

Matthew Martinez has lived nearly all his 60 years on a piece of property on the Navajo River and never saw severe flooding until now

Data centers took a beating in the midterm elections. A reckoning may be ahead for tech giants

Opposition to data centers was part of midterm races across the U.S., with campaigns featuring them in hundreds of millions of dollars' worth of TV ads and many winners pledging to clamp down on the energy-hungry behemoths

'ER' and 'The Pitt' similar enough for lawsuit to move forward, appeals court finds

A California appeals court has found enough similarity between “ER” and “The Pitt” for a lawsuit by Michael Crichton's widow to proceed

Companies sue California over law designed to protect children from social media harm

Google, Meta and TikTok filed separate lawsuits seeking to block a California law designed to protect children from the risks of social media, arguing that it violates their rights under the First Amendment

5 retired MLB umpires — including Joe West — sue benefit plan, alleging they are owed more money

Five retired umpires have sued their retirement plan and its committee, claiming they are owed additional money

The average US 30-year mortgage rate falls to 7.18% this week, its third straight decline

The average long-term U.S. mortgage rate fell for the third straight week, offering some relief to prospective homebuyers facing higher home prices

New York's Strand Bookstore to repay nearly $1.5M after improperly receiving federal loan

The U.S. Department of Justice has announced that New York's Strand Bookstore will pay nearly $1.5 million after improperly receiving a pandemic-era small business loan

How one bank’s collapse is upending Paraguay, trapping savings and threatening its president

The collapse of Ueno Bank has left savers scrambling for their money and Paraguay’s president facing calls for impeachment

Wendy's rejects buyout bid from activist investor and adopts 'poison pill' plan

Wendy’s rejected a $1.4 billion buyout offer from an activist investor, saying Thursday that the bid was too low

Unemployment claims drop to 189,000, the fewest since mid-July

Fewer Americans applied for unemployment benefits last week as layoffs remain scarce and most workers enjoy job security

Gas deposits off Cyprus are an opportunity for the EU, president says

Cyprus's president says natural gas deposits off the country's coast offer the European Union a chance to boost energy security by diversifying supply

Kenya’s mining ambitions raise fears for farms and ancestral graves

Farmers and community elders in coastal Kenya fear a proposed mining project could threaten their livelihoods and a sacred forest where their ancestors are buried

Turkey’s solar boom shines ahead of a UN climate summit but coal and other fossil fuels loom large

Turkey is spotlighting its renewable energy efforts as it hosts the upcoming U.N. climate summit

Bank of England raises interest rates to 4% to tackle higher inflation

The Bank of England is raising interest rates for the first time in more than three years in an effort to tackle an inflation shock stoked by the Iran war

Asian shares mostly advance following US midterms, though Kospi falls

World shares are mostly higher though heavy selling of artificial intelligence-related stocks offset gains for some markets following the U.S. midterm elections

JetBlue raises baggage fees for a second time as jet fuel prices stay elevated

JetBlue has raised its checked baggage fees for the second time this year

UK government tasks regulators to scrutinize proposed tie-up between Sky and ITV

British Culture Secretary Lisa Nandy has asked regulators to scrutinize Sky's proposed takeover of ITV’s media and entertainment arm

Cyberattack hits French blood bank site but no blood products were compromised

French authorities have thwarted a cyberattack on blood banks that aimed to dangerously raise storage temperatures

Visits to US McDonald's locations falls as customers struggle with cost of living

Traffic at U.S. McDonald’s restaurants fell during the third quarter as customers struggled with higher gas prices and the uncomfortably high cost of living

A promising new drug could turn the tide against HIV

Experts say that a promising drug that offers complete protection against HIV and requires only two shots a year isn't getting to enough people

Taco Bell sales recover in the US after summer cyclospora outbreak

Taco Bell’s U.S. sales are climbing again after a cyclospora outbreak tied to the chain slowed visits over the summer

US job postings jumped sharply in September, a sign hiring could pick up

U.S. employers ramped up their job postings in September as stronger economic growth may be encouraging more hiring

Belarus hosts trans-Atlantic security group's chief, part of efforts to improve ties with the West

The chief of a top trans-Atlantic security grouping has visited Belarus for the first time in years

UK will face AI cyberattacks on critical infrastructure by 2028, official says

Britain’s cyberchief says the U.K. is likely to face artificial intelligence cyberattacks on its critical infrastructure by 2028

Higher oil prices boost Saudi Aramco profits despite disruption from attacks

Saudi Aramco is reporting a 35% increase in third-quarter net profit, boosted by higher oil prices and the sale of a stake in a Malaysian company

Russian strikes choke Ukraine’s economy as steel shuts down and grain exports stall

Ukraine's economy is struggling as Russia's air war targets industries, logistics networks and ports needed for exports

Dodge announces return to NASCAR Cup Series beginning at Daytona 500

Dodge is returning to the NASCAR Cup Series in 2027, a year earlier than initially expected

Owner of private Serbian bank detained and accused of siphoning money

Serbian authorities have detained the owner of a private bank on suspicion he was siphoning money from the lender

KFC, Taco Bell locations close across Puerto Rico as they seek new franchise partner

All KFC and Taco Bell restaurants in Puerto Rico have temporarily closed after Yum

Ryanair CEO anticipates European airfare prices up as much as 20% next year

The CEO for Ryanair expects European airfare prices may climb as much as 20% next year as jet fuel prices rise

Approval of cheap version of HIV-prevention shot raises hopes in low-income countries

The U.S. Food and Drug Administration has approved a generic version of the world’s only twice-a-year shot to prevent HIV

Asian shares are mixed and US futures advance, while oil prices retreat

Asian shares are mixed ad oil prices have retreated, falling sharply on renewed hopes for progress in diplomatic efforts between the U.S. and Iran

United Arab Emirates says military solutions offer no quick off-ramps to crisis with Iran

The United Arab Emirates hopes for a diplomatic breakthrough in Qatar-led mediations to prevent a new confrontation between the U.S. and Iran

Civilians in Ukraine's Kherson prepare for the return of war as localized ceasefire ends

Civilians in Ukraine's Kherson region are preparing for the end of a localized ceasefire

India's opposition parties stage new protest against the country's election chief

It's the latest display of public dissent against PM Modi’s government.

FBI blames North Korea for stolen billions from Binance in biggest hack in history

FBI sys attack was tied to an entity known as TraderTraitor.

Tusk defends suspension of Poland’s Constitutional Tribunal president as protesters gather again

Prime Minister Donald Tusk says his government is acting to restore judicial independence in Poland

Hundreds of thousands of young protesters take to the streets across France

Thousands of young protesters take to the streets of France for a third weekend.

Rising health costs and coverage changes are big concerns for older adults as Election Day nears

Rising healthcare costs are a major concern for older Americans, and it's affecting their finances and political priorities

DEA approvals could bring big tax benefits for medical marijuana businesses

The U.S. Drug Enforcement Administration has for the first time issued registrations to medical marijuana businesses

ExxonMobil and Chevron top Q3 estimates on higher prices and strong output

ExxonMobil and Chevron both reported better than expected quarterly results Friday as the oil majors benefited from higher prices and record production

Dockworkers stage international strikes to denounce arms shipments

Dockworkers across Europe and beyond are staging strikes as part of an international campaign against arms shipments and to demand better working conditions

Europe's economy brushes off energy shock from Iran war, shows moderate growth in Q3

Europe’s economy persevered with moderate growth in the third quarter despite higher oil prices from the US-Iran war, as gross domestic product increased by 0.4% over the quarter before

Frances Tiafoe supports young tennis players' careers while still building his own

Frances Tiafoe may still be waiting for his first Grand Slam championship, but the American tennis star has already celebrated a meaningful career milestone

Netanyahu’s party claims election 'stolen' as results show him losing majority

Israeli Prime Minister Benjamin Netanyahu and his party have amplified claims that the country's election was “stolen” by Arab-led parties

The sell-off for tech stocks drags Wall Street toward its worst day since June

A sell-off for tech stocks is worsening on worries that Wall Street’s frenzy around AI sent prices too high

Spain’s latest deadly train crash puts human error and systemic failure under scrutiny

Spain's second major train collision this year has sparked debate over whether human error or rail network failures are to blame

A popemobile exhibition at the Vatican features the vehicle popes have used since 1930

The Vatican is opening a celebration of the popemobile

Binance flags 'potential security issue,' says crypto firms froze more than $2.5B

Binance, the world's largest cryptocurrency exchange, is investigating a potential security issue that appears to be a hack

Starbucks reports lower than expected revenue on softer international demand

Starbucks reported lower than expected revenue in its fiscal fourth quarter as international traffic softened

Amazon's 3Q results miss analysts' estimates, but posts solid sales gains in cloud computing unit

Amazon offered a cautious sales outlook for the current fourth quarter that encompasses the critical holiday shopping period after delivering fiscal third-quarter results that came in below Wall Street analysts’ expectations

Make no bones about it, the giant skeleton has become an American Halloween fixture

It reared its bony head in 2020, during that first, chaotic pandemic year that was rife with grief and fear but also toilet paper hoarding and questionable lockdown-inspired purchases

Average 30-year US mortgage rate dips to 7.24%, the lowest level in more than a month

The average long-term U.S. mortgage rate declined for the second straight week, falling to its lowest level in more than a month

A potentially historic drop for Alphabet's stock drags the US market lower

A potentially historic drop for Alphabet's stock is dragging the U.S. stock market lower

US unemployment claims slide to 194,000, the lowest since mid-July

The number of Americans applying for unemployment claims dipped last week to 194,000 — lowest since mid-July — as layoffs remain low and most Americans enjoy job security

Airbnb pledges $500M to nonprofit, scaling emergency stays and raising questions over housing relief

Airbnb is dedicating more than $500 million to its philanthropic arm over the next five years

CNN, MSNOW and Politico ask court to make Trump access order permanent

Three news outlets are telling a federal court that the White House is defying a judge's orders by refusing to let them return to covering President Donald Trump

European Central Bank President Christine Lagarde will resign Feb. 7

European Central Bank President Christine Lagarde will resign nine months before her term ends

Putin woos African leaders at a Moscow summit aimed at expanding Russia-Africa ties

Russia's President Vladimir Putin has courted dozens of African leaders at a Russia-Africa summit, part of his efforts to bolster Moscow’s clout across the continent

Hong Kong's housing minister resigns after fire investigation finds inadequate oversight

Hong Kong leader John Lee apologized Thursday and said his housing secretary resigned after an investigation into the city’s deadliest fire in decades found inadequate regulatory oversight

Iraqi court hands down prison terms to 2 politicians and an oil official in graft case

An Iraqi court has sentenced two prominent politicians and a state-run enterprise head to prison in a corruption case

Senate is skeptical about making daylight saving time permanent despite Trump's pressure

Volkswagen posts $6.5 billion quarterly loss amid China slump, Porsche writedown

Volkswagen has posted a $6.5 billion after-tax loss for the July-September quarter

Samsung keeps shattering profit records as AI boom lifts chip demand

Samsung Electronics has reported a record operating profit of $80.5 billion, driven by high demand for computer memory chips used in AI systems

As war strains Kremlin finances, Putin searches for new revenue streams

With Russia’s invasion of Ukraine intensifying the strain on state finances, President Vladimir Putin is reaching for cash to fund his government and the war, squeezing tax revenue from an economy that’s increasingly skewed toward the military — while ...

Carney, top EU official push Canada associate membership and wider alliance against Trump threats

Canadian Prime Minister Mark Carney and the European Union’s top official pushed to make Canada the bloc’s first “associate member” and build a broader alliance open to other countries, warning that foreign economic pressure threatens their sovereignty...

Drones strike a container ship off Bulgaria's Black Sea coast and its crew members are rescued

Three maritime drones have struck a container ship in the Black Sea off Bulgaria's coast, according to the country's defense minister

FTC orders Walmart, Delta and others to share how they use personal data to set prices and pay

The U.S. Federal Trade Commission is ordering Delta Air Lines, Walmart and other companies to provide detailed information on how they use consumers’ data when they are setting prices

Wendy's, struggling with beef prices and growing competition, gets a buyout offer

Shares of Wendy’s jumped 15% at the opening bell after noted investor Nelson Peltz made an offer to buy the struggling burger chain

Tech sector rally continues with Fed expected to leave benchmark interest rate alone

Tech stocks have surged this week ahead of a meeting of the U.S. Federal Reserve with markets anticipating no change to the benchmark U.S. interest rate, at least not yet

US cruise ship suspends global voyage due to fuel costs, stranding 200 passengers

A U.S. cruise ship on a three-year voyage has suspended its journey in Cambodia due to high fuel costs, forcing hundreds of passengers to disembark

UK Treasury chief faces headwinds as he delivers first budget under new PM Burnham

British Treasury chief John Healey faces a fine balancing act when he delivers his first budget statement, with the economic backdrop made more difficult as a result of the turmoil caused by the Iran war

Ashes, India series result in record revenue, net surplus for Cricket Australia

Media rights agreements for the Ashes and a limited-overs series against India have helped Cricket Australia post a record revenue of 601.1 million Australian dollars ($423 million) and a net surplus of A$81.8 million ($57 million)

Trump plans to loosen restrictions on methane emissions from oil drilling

President Donald Trump is expected to announce plans to loosen a Biden-era rule that aimed to reduce planet-warming emissions of methane from oil and gas drilling

EPA response to 2023 Ohio train derailment will be investigated by agency watchdog

The Environmental Protection Agency’s response to the disastrous 2023 East Palestine train derailment will be investigated after dozens of residents of the small town on the Ohio-Pennsylvania and Vice President JD Vance requested the review

Portugal’s Parliament debates government spending plans as housing protests swell

Portugal's Parliament is debating the government's spending plans amid protests over a housing crisis

This freight train claims to be the longest ever. Here's how long

South Africa claims it has sent the longest freight train in the world on a test run

Soccer star Kylian Mbappé apologizes for apparent reference to Mao as a 'dictator'

Kylian Mbappé has apologized for comments referring to Mao Zedong as a dictator

ByteDance founder Zhang Yiming reclaims top spot in China’s rich list

ByteDance founder Zhang Yiming has reclaimed the top spot on a list of China’s richest people, driven by his company’s push into artificial intelligence

Carney says Trump moving closer to Canada’s trade demands as midterms loom

Canadian Prime Minister Mark Carney says trade talks with the United States have intensified slightly but Canada is holding firm on its demands, insisting any progress is because Washington is moving closer to Ottawa’s position

Dollar General sued by FTC, 20 states for what's being described as deceptive pricing

The Federal Trade Commission is suing the bargain chain Dollar General for what it says are “long-running deceptive pricing practices” by charging customers more once they reach the register than the prices that are displayed on shelves and in advertis...

Delegations meet in Iran with Mideast region on edge over potential for renewed fighting

High-level delegations from Saudi Arabia, Pakistan and Turkey are in Tehran for talks aimed at preventing renewed fighting in the Iran war

Egypt's parliament authorizes military support for Saudi Arabia to defend against Houthi attacks

Egypt’s parliament has voted to authorize President Abdel-Fattah el-Sissi to provide Saudi Arabia with military support in defending the kingdom against attacks by Iran-backed Houthi rebels