Business News

Victoria Jones/PA Images via Getty Images (NEW YORK) — Rupert Murdoch is stepping down as chairman of Fox Corporation and News Corp., Fox has announced. His son, Lachlan Murdoch, will become the chair of News Corp. and continue as executive chair and chief executive officer of Fox Corporation. “On behalf of the FOX and News Corp boards of directors, leadership …

Oscar Mayer (NEW YORK) — Nostalgia wins in the court of cars and cold cuts. After the iconic hot dog on wheels for Oscar Mayer was rebranded as the Frankmobile earlier this summer — specifically to celebrate its all-beef frankfurter recipe — the American food manufacturer is reverting back to its original namesake glory: the Wienermobile. Oscar Mayer announced exclusively …

Mike Dobuski/ABC News (DETROIT) — The Detroit Auto Show is underway this week, against the backdrop of an historic strike effort from unionized auto workers. Almost every year since 1907, Detroit has played host to a trade show that attracts executives, celebrities, politicians, journalists, and everyday enthusiasts from around the car world, all of whom descend on the city’s Huntington …

Kraft Heinz (NEW YORK) — Food company Kraft Heinz has issued a voluntary recall after nearly 84,000 slices of processed individually-wrapped American cheese were deemed to potentially contain choking hazards. “The voluntary recall comes as a precaution after a temporary issue developed on one of our wrapping machines, making it possible that a thin strip of the individual film may …

Catherine McQueen/Getty Images (NEW YORK) — While the joy of raising a child is priceless, the actual dollars and cents cost of it all is sharply on the rise, a new study shows. The average cost of raising a child rose nearly 20% in the United States from 2016 to 2021, according to a study released this month by LendingTree, …

Nipitpon Singad / EyeEm/Getty Images (NEW YORK) — You can now plan to kick off your holiday shopping as early as October! Following Amazon’s announcement of Prime Big Deal Days, Walmart and Target have released information on their adjacent sales, all kicking off the week of Oct. 1. To help make your shopping life easier, we complied everything we know …

BojanMirkovic/Getty Images (NEW YORK) — According to the U.S. Small Business Administration, there are close to five million Hispanic-owned businesses in the United States that contribute over $800 billion to the U.S. economy annually. To celebrate National Hispanic Heritage Month, ABC News’ Good Morning America is spotlighting Latin-owned businesses. Scroll down to support five Latina and Latino entrepreneurs. It’s A …

Bloomberg Creative/Getty Images (WASHINGTON) — Upon announcing the Federal Reserve’s latest rate-hike decision in July, Fed Chair Jerome Powell spoke at a lectern in Washington D.C. for 33 minutes before he dropped a bombshell: The central bank’s staff had abandoned its forecast of a recession. Staff at the Fed, in other words, now expect the central bank to achieve a …

David Paul Morris/Bloomberg via Getty Images (NEW YORK) — Society may be getting one step closer to the flying commuter vehicles made famous in the animated series The Jetsons, as Ohio just announced that hundreds of flying taxis will be built at a facility in the state. The company Joby Aviation Inc. was selected to build an electric air taxi …