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Business News

Warren Buffett’s Berkshire Hathaway stock price is too high for Nasdaq to handle

iStock/AUDINDesign(NEW YORK) -- Berkshire Hathaway's Class A shares performed well this week in the wake of the company's annual shareholder meeting. Too well for NASDAQ’s computer system, in fact. CEO and Chairman Warren Buffett has famously refused to split the stock, which companies do to lower the price of a stock to make it more attractive to investors, because of his emphasis on attracting long-term investors. With that, the share price moved past $420,000 -- and passed a threshold NASDAQ’s computer system was not designed to handle. The current system can only manage prices up to $429,496.7295, as The Wall Street Journal explained in depth, and Berkshire's share price was continuing to climb. Recognizing this could be a problem, NASDAQ   ... Read More

Baker donates cakes to families that lost children for Mother’s Day

iStock/alvarez(MIAMI) -- A Miami baker is using her culinary skills to give back on Mother's Day. Sherronda Daye, 41, is a mother of two daughters, an 11- and 21-year-old. She's also the owner of Sweet Jalane's, a dessert-catering company; Defense Tea, which sells locally sourced immune-boosting drinks; and the Sweet Exchange, which hosts events to provide food for those in need and to address social issues. In honor of Mother's Day, she launched the 100 Cakes in 10 Days project, where, for every bundt cake purchased, another will be donated to families that have lost children. The goal is to donate at least 100 cakes in the time leading up to the holiday. While the cakes are always given to   ... Read More

Advancing Black entrepreneurship amid a racial reckoning and a pandemic

Kameleon007/iStock(NEW YORK) -- Only 4% of Black-owned businesses in the U.S. survive past the startup stage, even though 20% of Black Americans start businesses, according to a 2020 report by McKinsey and Company, a management consulting company. As the pandemic forced many businesses to close their doors, about 58% of Black-owned businesses in the U.S. were at risk of financial distress before the pandemic, compared with about 27% of white-owned businesses, with possibly up to 41% of Black-owned businesses closing between February and April 2020, according to the McKinsey report. In another recent study by advocacy groups, Color of Change and The Main Street Alliance, 40% of Black businesses said they could only last another six months, compared with 55%   ... Read More

Peloton CEO speaks out after popular treadmill recalled due to injuries

ABC News(NEW YORK) -- Peloton CEO John Foley is speaking out after the company decided to voluntary recall all of its Tread+ and Tread treadmills. The recalls were issued earlier this week following dozens of reports of accidents involving the Tread+ device, including the death of a child. Last month, the U.S. Consumer Product Safety Commission issued an "urgent warning" for people to stop using the treadmill if they have small children or pets at home, saying it had learned of "multiple incidents" of kids and a pet being sucked under and injured beneath the machine. Foley appeared exclusively on ABC News’ Good Morning America Friday to discuss why the company made the decision to pull the treadmills off the   ... Read More

Unemployment rate rises to 6.1% as 266,000 jobs added in April

ablokhin/iStock(WASHINGTON) -- U.S. employers added 266,000 jobs to their payrolls last month, the latest figures released Friday by the Labor Department show. The number was significantly lower than the 770,000 jobs added in March and the 536,000 added in February. The biggest increases in employment in April occurred in leisure and hospitality, other services and local government education, according to the Labor Department. Meanwhile, the unemployment rate rose slightly from 6% to 6.1% last month. Copyright © 2021, ABC Audio. All rights reserved.   ... Read More

Long-term care industry facing changes as pandemic pushes more families toward home care

Daisy-Daisy/iStock(NEW YORK) -- After more than a year battling the deadly coronavirus pandemic, long-term care facilities may be seeing a change in the industry as consumers shift away from nursing homes and assisted living facilities, according to a new study published by an industry research group. Widespread distribution of the COVID-19 vaccine has reduced the spread of the virus in nursing homes and other long-term care facilities, with infection rates dropping sharply. But the legacy of the virus -- which to date has killed more than 182,000 long-term care residents and staff nationwide -- may be fundamental changes to the business of long-term care. Research by The Associated Press National Opinion Research Center shows that, more than a year into   ... Read More

Crocs is giving away 10,000 pairs of shoes a day to health care heroes

Crocs(NEW YORK) -- It's been over a year since the coronavirus pandemic shut down the world, and medical professionals continue to show up and help those in need. That's a huge part of the reason why Crocs is bringing back its "Free Pair for Healthcare program," which recognizes and provides comfort to health care heroes who have been on fighting on the front lines. On May 10, the shoe brand known for its comfortable foam clogs, is kicking off National Nurses Week with plans to give away 10,000 pairs of Crocs at Work™ shoes per day to front-line caregivers in the United States. Starting at noon ET, the Crocs website will begin accepting requests and will remain open until that   ... Read More

Barbie unveils latest version of its DreamHouse

Barbie(NEW YORK) -- Barbie has revealed a brand new version of its iconic DreamHouse. This is the toymaker's 12th version of the model, and the upgraded digs include everything little ones will love. It's also one of the most customizable DreamHouses to date, giving children the freedom to switch up lighting and sound with eight different colors, three songs and two soundscapes. Another noticeable difference are the elevated amenities included, such as soft grass and plush blankets. In addition to the customization capabilities and amenities, the new Barbie DreamHouse also has its first party room -- with a light-up DJ stand included. It can be used for play entertaining as well as an outdoor BBQ that transforms into a dessert   ... Read More

Prices skyrocket for new cars amid supply shortage

SergeyTikhomirov/iStock(NEW YORK) -- If you’re in the market for a new car and hoping to score a good deal, you may be out of luck. Car dealerships across the country are facing an inventory shortage, causing prices to skyrocket. As a result, some car shoppers are even paying more than the sticker price. Experts say a global computer chip shortage is fueling the problem. In some cases, car companies have even halted production. ABC News’ Gio Benitez appeared on Good Morning America Thursday to discuss what consumers need to know before heading to the dealership: Copyright © 2021, ABC Audio. All rights reserved.   ... Read More

Naomi Osaka teams up with Sweetgreen as first athlete ambassador, youngest investor

Sweetgreen(NEW YORK) -- Athletes understand the importance of quality, healthy food to fuel their bodies in order to compete and thrive, and one tennis superstar has teamed up with a fast-casual restaurant chain that shares the same winning values. Sweetgreen announced its new partnership with tennis star Naomi Osaka exclusively to ABC News' Good Morning America, and Nathaniel Ru, co-founder and chief brand officer, explained why the four-time Grand Slam champion was a perfect match. "Naomi represents not only a great tennis player, but so much beyond that. She stands up for what she believes in -- a lot of social justice issues -- and is really into speaking to this next generation in a way that still has humility   ... Read More

Zara announces launch of its 1st beauty collection

borchee/iStock(NEW YORK) -- Apparel company Zara announced the launch of its first beauty collection. Zara Beauty will feature accessibly priced makeup, inlcuding for eyes and nails, the brand said. Zara said its new collection is aimed at embracing individuality, and offers over 130 diverse shades throughout the product line. It also features refillable packaging to help eliminate unnecessary waste. Some of the new collection's products include a Nourishing Jelly Lip Oil, Metal Foil Loose Pigment and Refillable Cheek Palette. Products range from $7.90 to $25.90, with refills starting at $4.90. According to Zara, the formulas are clean and in accordance to European Regulation 1223/2009 on cosmetics and their safety. "Zara Beauty formulas are consciously crafted with high-performance ingredients," the company   ... Read More

Jeff Bezos company Blue Origin to send highest bidder into space this summer

MANDEL NGAN/AFP via Getty Images(NEW YORK) -- When Jeff Bezos' space tourism venture Blue Origin flies its first astronaut crew to space this summer, one seat will go to the highest bidder. After teasing the announcement over the past week, the company said Wednesday it has opened an online auction for one of six seats aboard the New Shepard, its suborbital vehicle designed for space tourism, for the July 20 flight. The opportunity to fly above the Karman Line -- the internationally recognized line of space, at over 300,000 feet, or 62 miles -- presents a new market opportunity, the company said. "Only 569 people have ever been over the Karman Line," said Ariane Cornell, Blue Origin's director of astronaut   ... Read More

Broadway, New York theater scene to reopen in September at full capacity

imagedepotpro/iStock(NEW YORK) -- With COVID-19 cases declining and more people vaccinated, the stage is set for the Great White Way's long-awaited comeback. New York Gov. Andrew Cuomo announced Wednesday that Broadway shows will restart on Sept. 14, nearly a year and a half after the industry was shut down due to coronavirus concerns. Tickets will go on sale starting May 6 and the shows can be held at 100% capacity, according to the governor. Charlotte St. Martin, the president of the Broadway League, the national trade association that represents theater owners, producers and other members of the industry, said casts and crews are already at work to make sure shows are ready to open and include safety precautions for their   ... Read More

Peloton recalls Tread, Tread+ treadmills after reports of injuries, death

Adam Glanzman/Bloomberg via Getty Images(NEW YORK) -- Peloton and the U.S. Consumer Product Safety Commission announced two separate voluntary recalls of Peloton’s Tread+ and Tread treadmills after reports of injuries and a death, Peloton and the CPSC said in a statement Tuesday. Consumers are advised to stop using the recalled treadmills "immediately" and should contact Peloton for a full refund or "other qualified remedy," according to the statement. The company has stopped selling the Tread+ and is working on modifying the exercise device. In April, the CPSC issued an "urgent warning" for people to stop using Peloton's Tread+ treadmill if they have small children or pets at home, one month after the company revealed that a child died in an   ... Read More

Mom’s Equal Pay Day 2021 marks how far into 2021 moms work to earn what dads did last year

DragonImages/iStock(NEW YORK) -- Just a few days before Mother's Day, when moms are supposed to be celebrated for the work they do, comes a reminder of the stark penalties mothers still face in the workforce. May 5, 2021, marks Mom's Equal Pay Day, or how far into the year the average working mom has to work to earn what fathers earned last year alone. Among full-time, year-round workers, mothers are typically paid only 75 cents for every dollar paid to fathers. That pay gap results in monthly losses of $1,275 and annual losses of more than $15,000, according to the National Women's Law Center, a policy-focused organization that fights for gender justice. "That means that moms had to work more   ... Read More

Warren Buffett’s Berkshire Hathaway stock price is too high for Nasdaq to handle

iStock/AUDINDesign(NEW YORK) -- Berkshire Hathaway's Class A shares performed well this week in the wake of the company's annual shareholder meeting. Too well for NASDAQ’s computer system, in fact. CEO and Chairman Warren Buffett has famously refused to split the stock, which companies do to lower the price of a   ... Read More

Baker donates cakes to families that lost children for Mother’s Day

iStock/alvarez(MIAMI) -- A Miami baker is using her culinary skills to give back on Mother's Day. Sherronda Daye, 41, is a mother of two daughters, an 11- and 21-year-old. She's also the owner of Sweet Jalane's, a dessert-catering company; Defense Tea, which sells locally sourced immune-boosting drinks; and the Sweet   ... Read More

Advancing Black entrepreneurship amid a racial reckoning and a pandemic

Kameleon007/iStock(NEW YORK) -- Only 4% of Black-owned businesses in the U.S. survive past the startup stage, even though 20% of Black Americans start businesses, according to a 2020 report by McKinsey and Company, a management consulting company. As the pandemic forced many businesses to close their doors, about 58% of   ... Read More

Peloton CEO speaks out after popular treadmill recalled due to injuries

ABC News(NEW YORK) -- Peloton CEO John Foley is speaking out after the company decided to voluntary recall all of its Tread+ and Tread treadmills. The recalls were issued earlier this week following dozens of reports of accidents involving the Tread+ device, including the death of a child. Last month,   ... Read More

Unemployment rate rises to 6.1% as 266,000 jobs added in April

ablokhin/iStock(WASHINGTON) -- U.S. employers added 266,000 jobs to their payrolls last month, the latest figures released Friday by the Labor Department show. The number was significantly lower than the 770,000 jobs added in March and the 536,000 added in February. The biggest increases in employment in April occurred in leisure   ... Read More

Long-term care industry facing changes as pandemic pushes more families toward home care

Daisy-Daisy/iStock(NEW YORK) -- After more than a year battling the deadly coronavirus pandemic, long-term care facilities may be seeing a change in the industry as consumers shift away from nursing homes and assisted living facilities, according to a new study published by an industry research group. Widespread distribution of the   ... Read More

Crocs is giving away 10,000 pairs of shoes a day to health care heroes

Crocs(NEW YORK) -- It's been over a year since the coronavirus pandemic shut down the world, and medical professionals continue to show up and help those in need. That's a huge part of the reason why Crocs is bringing back its "Free Pair for Healthcare program," which recognizes and provides   ... Read More

Barbie unveils latest version of its DreamHouse

Barbie(NEW YORK) -- Barbie has revealed a brand new version of its iconic DreamHouse. This is the toymaker's 12th version of the model, and the upgraded digs include everything little ones will love. It's also one of the most customizable DreamHouses to date, giving children the freedom to switch up   ... Read More

Prices skyrocket for new cars amid supply shortage

SergeyTikhomirov/iStock(NEW YORK) -- If you’re in the market for a new car and hoping to score a good deal, you may be out of luck. Car dealerships across the country are facing an inventory shortage, causing prices to skyrocket. As a result, some car shoppers are even paying more than   ... Read More

Naomi Osaka teams up with Sweetgreen as first athlete ambassador, youngest investor

Sweetgreen(NEW YORK) -- Athletes understand the importance of quality, healthy food to fuel their bodies in order to compete and thrive, and one tennis superstar has teamed up with a fast-casual restaurant chain that shares the same winning values. Sweetgreen announced its new partnership with tennis star Naomi Osaka exclusively   ... Read More

Zara announces launch of its 1st beauty collection

borchee/iStock(NEW YORK) -- Apparel company Zara announced the launch of its first beauty collection. Zara Beauty will feature accessibly priced makeup, inlcuding for eyes and nails, the brand said. Zara said its new collection is aimed at embracing individuality, and offers over 130 diverse shades throughout the product line. It   ... Read More

Jeff Bezos company Blue Origin to send highest bidder into space this summer

MANDEL NGAN/AFP via Getty Images(NEW YORK) -- When Jeff Bezos' space tourism venture Blue Origin flies its first astronaut crew to space this summer, one seat will go to the highest bidder. After teasing the announcement over the past week, the company said Wednesday it has opened an online auction   ... Read More

Broadway, New York theater scene to reopen in September at full capacity

imagedepotpro/iStock(NEW YORK) -- With COVID-19 cases declining and more people vaccinated, the stage is set for the Great White Way's long-awaited comeback. New York Gov. Andrew Cuomo announced Wednesday that Broadway shows will restart on Sept. 14, nearly a year and a half after the industry was shut down due   ... Read More

Peloton recalls Tread, Tread+ treadmills after reports of injuries, death

Adam Glanzman/Bloomberg via Getty Images(NEW YORK) -- Peloton and the U.S. Consumer Product Safety Commission announced two separate voluntary recalls of Peloton’s Tread+ and Tread treadmills after reports of injuries and a death, Peloton and the CPSC said in a statement Tuesday. Consumers are advised to stop using the recalled   ... Read More

Mom’s Equal Pay Day 2021 marks how far into 2021 moms work to earn what dads did last year

DragonImages/iStock(NEW YORK) -- Just a few days before Mother's Day, when moms are supposed to be celebrated for the work they do, comes a reminder of the stark penalties mothers still face in the workforce. May 5, 2021, marks Mom's Equal Pay Day, or how far into the year the   ... Read More
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