Business News

• Congress extends Paycheck Protection Program; billions remain available July 1, 2020
  Kameleon007/iStockBy SARA KOLINOVSKY and CHEYENNE HASLETT, ABC News(WASHINGTON) -- Congress has extended the deadline for small businesses to apply for approximately $134 billion in Paycheck Protection Program funds until Aug. 8.The House of Representatives approved the extension by unanimous consent Wednesday evening. In an unexpected move, the Senate kicked off the process, also voting unanimously […]
• Realtor groups drop 'master' bedroom, bathroom terms from listings July 1, 2020
  Pixsooz / iStockBy Katie Kindelan via GMA(HOUSTON) -- At least two realtor groups are now no longer using the word "master" to describe bedrooms and bathrooms in their listings.The Houston Association of Realtors replaced the phrases "master bedroom" and "master bathroom" with "primary bedroom" and "primary bathroom" on its property listing database."We changed the terms […]
• Elon Musk poses a 'serious risk of reputational harm' to Tesla, advisory firm warn July 1, 2020
  wellesenterprises/istockBy CATHERINE THORBECKE, ABC News(NEW YORK) -- A major advisory firm is urging Tesla shareholders to vote to remove CEO Elon Musk from the company's board, citing "a number of concerns" ranging from his erratic Twitter use, his rush to reopen amid COVID-19 and his "excessive" compensation package.Pensions & Investment Research Consultants (PIRC), a London-based […]
• Wharton business school's 1st woman, 1st person of color dean says 'always bet on yourself' July 1, 2020
  ABC NewsBy KATIE KINDELAN, ABC News(PHILADELPHIA) -- The first woman and first person of color to lead the prestigious Wharton School at the University of Pennsylvania says she wants young people to see her history-making role as an example to "always bet on yourself.""We have to change our own self-talk," Dr. Erika James said Wednesday […]
• Why ratings are being dropped from The Infatuation's restaurant reviews July 1, 2020
  The InfatuationBy KELLY MCCARTHY, ABC News(NEW YORK) -- With the restaurant industry rapidly evolving amid the coronavirus pandemic, The Infatuation announced Tuesday that their numbered ratings scale on all reviews are officially a thing of the past.The once-helpful metric has quickly become an outdated language that no longer speaks to consumers due to the profound […]
• Ulta Beauty launches empowering "Wonder Woman 1984" collection July 1, 2020
  Ulta BeautyBy JACQUELINE LAUREAN YATES, ABC News (NEW YORK) -- If you are excited to channel looks from the upcoming film Wonder Woman 1984, Ulta Beauty has a treat for you.There's now a new beauty collection based on actress Gal Gadot's popular character. The latest launch is centered around empowerment, strength and courage."Wonder Woman 1984 […]
• Requiring face masks nationwide could save US economy from 5% hit, Goldman Sachs predicts June 30, 2020
  Powerofflowers/iStockBy Catherine Thorbecke, ABC News(NEW YORK) -- A team of analysts at investment bank Goldman Sachs argued that mandatory face masks nationwide could not only improve health outcomes amid the novel coronavirus pandemic, but could also save the U.S. gross domestic product from a potential 5% hit.A nationwide face coverings mandate coupled with stringent bans […]
• Kim Kardashian West sells 20% of beauty brand for $200M June 30, 2020
  Talaj/iStockBy Megan Stone and Jacqueline Laurean Yates via GMA (NEW YORK) -- There could possibly be a new billionaire in town and her name is Kim Kardashian West.On Monday, it was announced that the multi-hyphenate mogul has sold 20% of her beauty brands to Coty for $200 million."We are thrilled to welcome one of the […]
• Why Netflix is investing $100 million in Black financial institutions June 30, 2020
  stockcam/iStockBy CATHERINE THORBECKE, ABC News(NEW YORK) -- Netflix announced it is allocating 2% of its cash holdings going forward -- a sum of up to $100 million initially -- into financial institutions that directly support Black communities in the U.S. as a way to help ameliorate the deep-seated racial wealth gap."Because of capital isolation, many […]
• Lululemon to acquire at-home exercise startup Mirror for $500 million June 30, 2020
  Althom/iStockBy CATHERINE THORBECKE, ABC News(VANCOUVER, British Columbia) -- Lululemon Athletica said it will acquire at-home fitness startup Mirror as it looks to expand its market reach beyond yoga pants and athleisure wear.The Vancouver-based company is entering into a definitive agreement to acquire Mirror for $500 million, Lululemon said in a statement to investors on Monday."In […]