Business Headlines
Target limits self-checkout for customers with 10 items or fewer
ABC NewsTarget has brought a change into what was considered a quicker alternative for its customers to make purchases at its stores.The retail corporation announced Thursday via press release that it would switch its regular self-checkout to express self-checkout. The new concept would be reserved for customers with 10 items or fewer.The change was brought into effect as of Sunday, March 17, at most of the company’s 2000 locations nationwide.In the release, the company noted that customers began to rely heavily on the self-checkout during the pandemic as it offered them a contactless option.Speaking to "Good Morning America," Dominick Reuter, a senior reporter at Business Insider said the change would yield quite a few challenges."One of them is this funny ... Read MoreWhite House wants TikTok’s parent company to divest: ‘We don’t want to see a ban’
ABC NewsThe White House on Sunday reiterated support for a controversial bill meant to cut China's ties to TikTok by forcing the popular app's Chinese parent company to sell it -- or face a ban in the U.S.At the same time, White House national security communications adviser John Kirby said on ABC News' "This Week," the administration acknowledges the concerns of many American users."I want to stress again, over and over, that this isn't about a ban," Kirby told "This Week" co-anchor Martha Raddatz. "We don't want to see a ban on TikTok. We understand there's a lot of people whose economic life relies on it."He said the administration instead wants to see TikTok split from its China-based parent company, ... Read MoreWill Bernie Sanders’ proposed 32-hour workweek pass Congress?
Chip Somodevilla/Getty Images(NEW YORK) -- A push to slash the standard workweek from 40 hours to 32 achieved a breakthrough this week, gaining a foothold in the Senate with a proposal that would require businesses to offer the 32-hour workweek but preserve employee pay.The bill, put forward by Sen. Bernie Sanders, I-Vt., drew praise from labor advocates who tout the benefits of the reduced hours not only for workers' wellbeing but for the productivity benefits enjoyed by their employers.However, political analysts who spoke to ABC News cast doubt on the measure's chances of passage in a divided Congress where opposition from Republicans is all but certain and even the extent of support among Democrats remains unclear."It's so hard to get ... Read MoreSelling a home is about to get cheaper after historic settlement
Joe Raedle/Getty Images(NEW YORK) -- The cost of selling a home could soon go down after the National Association of Realtors agreed to a historic settlement.The powerful trade group, which represents more than 1.5 million real estate agents, reached a nationwide settlement with groups of home sellers who accused the NAR of conspiring to keep broker fees artificially high.In addition to paying $418 million in damages, the NAR agreed to stop requiring that sellers pay both their broker and a buyer's broker. Housing experts say the longtime industry standard of a 6% commission is expected to fall 25% to 50%, according to TD Cowen Insights. That could mean significant savings for both buyers and sellers.At today's 6% commission, a homeowner ... Read MoreDebunking four myths about TikTok
TikTok supporters are seen outside the U.S. Capitol before the House passed the Protecting Americans from Foreign Adversary Controlled Applications Act, that could ban TikTok in the U.S., March 13, 2024. -- Tom Williams/Getty Images(NEW YORK) -- A fast-moving push in Washington, D.C., that could ban TikTok has thrust the social media platform into the national spotlight, stoking scrutiny about who uses the app and what exactly they do on it.While eliciting good-faith disagreement, the debate has also resurfaced some misconceptions, including the notion that TikTok only serves young people or that it hooks users with frivolous videos.The House passed a measure on Wednesday that would ban the app unless it parts ways with its Chinese-owned parent company, ByteDance.It's not ... Read MoreSmall business owners weigh in on how they are coping with current economy
ABC News(NEW YORK) -- Market reports show the U.S. economy is seeing strong job numbers and a waning inflation rate, but some small business owners tell ABC News they are still feeling the pinch.When Mia Sakai opened her Chicago bodega in December 2020 she had to deal with the pandemic, supply chain issues and then rising costs of goods -- costs that she passed on to her customers."It's not an easy thing to do, and it's not something we like to do, but we also want to be able to keep our business here and continue to be able to service the neighborhood," Sakai told ABC News.Rising grocery store prices are one of the reasons why Americans are down on ... Read MoreTikTok could avoid potential ban with sale. Who would buy it?
General view of the TikTok headquarters on Oct. 13, 2020 in Culver City, California. (AaronP/Bauer-Griffin/GC Images)(NEW YORK) -- Social media platform TikTok stands on the brink of a forced sale after the House passed a measure on Wednesday that would ban the app unless it parts ways with its Chinese-owned parent company ByteDance.If ByteDance opts to sell, the move would set off a sprint to reach a deal worth up to hundreds of billions of dollars within the 180-day time limit set by the bill.The popular and fast-growing platform makes for an attractive acquisition but buyers may face significant hurdles, including lingering doubts over the role of the Chinese government and challenges raising the necessary funds, experts told ABC News.Some ... Read MoreTikTok influencers say ban would be ‘devastating’
Tik Tok supporters are seen outside the U.S. Capitol, March 13, 2024, in Washington. (Tom Williams/CQ-Roll Call, Inc via Getty Images)(WASHINGTON) -- TikTok influencers -- accustomed to their voices being heard by thousands on the wildly popular social media app -- now are speaking out in hopes lawmakers hear their frustrations about efforts in Congress to possibly ban the platform in the United States.The House on Wednesday passed bipartisan legislation to force TikTok's Chinese parent company, ByteDance, to sell it or face a ban in the U.S. It's now headed to the Senate where its future is uncertain.While several steps would need to happen before any ban would be implemented -- including giving ByteDance six months to divest from TikTok ... Read MorePossible TikTok ban in US: What’s at stake and what comes next
In this photo illustration, a TikTok logo is seen displayed on a smartphone screen. (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)(WASHINGTON) -- The high-stakes battle on Capitol Hill between lawmakers and TikTok over a potential ban of the popular social media app is set for a watershed House vote on Wednesday on a bill that could bar access to the platform in the United States.TikTok, which boasts more than 170 million U.S. users, has emerged in recent years as a fixture of American life, shaping popular culture, supercharging the growth of the influencer economy and challenging some of the nation's largest companies, such as Meta and Google.A ban could carry far-reaching implications for everything from the discovery of music stars to ... Read MoreAirbnb bans the use of indoor security cameras on all properties
The Airbnb website on a laptop computer arranged in the Brooklyn Borough of New York, U.S., on Thursday, May 4, 2023. (Gabby Jones/Bloomberg via Getty Images)(NEW YORK) -- Airbnb has made the decision to ban the use of indoor security cameras to “prioritize the privacy of our community,” according to a statement from the company on Monday.The ban, which is a global one across all of their listings, is an effort to “simplify our policy on security cameras and other devices,” according to a statement released by the company announcing the new change in policy.Airbnb had allowed indoor security cameras in common areas like hallways and living rooms, but they were only allowed if they were disclosed on the property ... Read MoreHow buying gift cards could help save on travel for your next vacation
Craig Hastings/Getty Images(NEW YORK) -- Travel can get expensive and add up fast -- whether it's an Uber to the airport or paying more for checked baggage -- so finding a resource or tip to help save on getting to and from your destination can be worth it.One such strategy includes buying and using Costco gift cards for airlines to save some money on purchasing flights.ABC News technology and consumer correspondent Becky Worley recently tested out the travel savings idea for flights to take her daughter to a concert."I purchased a discounted airline gift card at Costco. I paid $425 for $500 worth of Southwest Airlines credit and used it on our flights to San Diego," Worley said.Eric Rosen, director ... Read MoreInflation ticked up in February, reversing some prior progress
Javier Ghersi/Getty Images(NEW YORK) -- Consumer prices rose 3.2% in February compared to a year ago, increasing slightly from the previous month and offering the latest sign that progress toward lowering inflation has struck a rough patch, a report from the Bureau of Labor Statistics released on Tuesday showed. The fresh data came in higher than economists expected.Price increases have cooled dramatically from a peak of about 9%, but inflation still stands more than a percentage point higher than the Federal Reserve's target rate of 2%.Core inflation -- a closely watched measure that strips out volatile food and energy prices -- increased 3.8% over the year ending in February, which marked a slight cooldown from the previous month.Food prices rose ... Read MoreSam Altman to remain as CEO of OpenAI, rejoin board following external review
Kent Nishimura/Getty Images(NEW YORK) -- Sam Altman will remain as CEO of OpenAI and rejoin its board of directors following an "extensive" external investigation into his temporary ouster last year, the company's board announced on Friday.The OpenAI Board said it has "full confidence" in the continued leadership of Altman and co-founder Greg Brockman following a monthslong review by the law firm WilmerHale.The board ousted Altman from OpenAI, the maker of the popular conversation bot ChatGPT, in November. Altman's unexplained exit thrust the company into disarray and sparked an employee revolt, with Brockman quitting in response.Nearly all 800 employees at OpenAI signed a letter calling for the resignation of the company's board and the return of Altman as CEO.Microsoft announced it ... Read MoreBiden proposes relief for homebuyers. Here’s what to know.
Thomas Northcut/Getty Images(WASHINGTON) -- President Joe Biden declared triumph on bread-and-butter issues in his State of the Union address, describing the U.S. economy as "the strongest in the world."Still, he said, conditions must improve for middle-class Americans, pointing for instance to high costs in the housing market that remains resistant to a cooldown elsewhere in the economy.Biden proposed a pair of tax credits for current and prospective homeowners meant to ease affordability and stimulate the housing market."If inflation keeps coming down, mortgage rates will come down as well," Biden said. "But I'm not waiting."Biden proposed a $5,000 tax credit for first-time homebuyers to put toward their mortgage, which he said amounts to an estimated $400 per month.In addition, the White ... Read MoreBiden tackles inflation by targeting hidden fees. Will voters notice?
Adam Gault/Getty Images(WASHINGTON) -- Enthusiasm about the U.S. economy has soared in recent months but polls indicate most consumers still bemoan inflation. More than 60% of adults say recent price increases have caused financial hardship for their family, a Gallup poll in January found.Prices, in turn, have taken on outsized importance on the brink of a presidential election that may hinge on bread-and-butter concerns.In recent months, the White House has announced a raft of measures aimed at lowering onerous fees faced by consumers when they miss a credit card payment, overdraft a bank account or book a hotel room.The initiatives tackle costs borne by a large swathe of Americans, delivering potential savings while signaling the Biden administration's desire to protect ... Read MoreChinese national arrested after allegedly stealing AI trade secrets from Google
Cesc Maymo/Getty Images(SAN FRANCISCO) -- A Chinese national was arrested Wednesday in California and charged with allegedly stealing confidential trade secrets from Google's Artificial Intelligence program while secretly working for two AI startup companies based in China, according to a newly unsealed indictment.Linwei Ding, a 38-year-old resident of Newark, joined Google as a software engineer in 2019 and was tasked with developing the software used by the tech giant in their supercomputing data centers, according to court records.But prosecutors say three years into the job, he allegedly began secretly stealing confidential trade secrets -- including "the building blocks" of the company's data centers that were used for training AI models to understand language and generate responses to queries, court records ... Read MoreTop of page