Business News

Bill aims to prohibit discrimination in financial services for first time

ineskoleva/iStockBy CATHERINE THORBECKE, ABC News(WASHINGTON) — A new bill proposed by a handful of Senate Democrats aims to make discrimination in the banking industry explicitly illegal for the first time, bridging a gap that left the financial services industry out of 1964 Civil Rights Act discrimination laws.Senators Sherrod Brown, D-Ohio, Tina Smith, D-Minn., Cory Booker,…read more »

Goldman Sachs subsidiary pleads guilty to role in $2.6 billion embezzlement in Malaysia

DNY59/iStockBy AARON KATERSKY, ABC News(NEW YORK) — A subsidiary of Goldman Sachs pleaded guilty on Thursday for its role in a scandal involving the embezzlement of billions of dollars from a Malaysian government investment fund known as 1MDB.The subsidiary pleaded guilty to violating anti-bribery provisions of the Foreign Corrupt Practices Act, admitting it contributed to…read more »

Weekly unemployment filings dip to 787,000

courtneyk/iStockBy CATHERINE THORBECKE, ABC News (WASHINGTON) — Weekly unemployment filings dipped below the 800,000 mark for the first time in months, falling to 787,000 last week, the Department of Labor said Thursday.This is the lowest number of weekly jobless claims since March, when the pandemic clobbered the U.S. labor market and the tally of initial…read more »

NASA astronaut has a message for Latinx STEM students: ‘We need you’

Melpomenem/iStockBy PENELOPE LOPEZ, ABC News(NEW YORK) — Astronaut Ellen Ochoa has a message for the next generation of Latinx students who are aspiring to work in Science, Technology, Engineering, and Math (STEM) fields: “We need you.”“We need your minds. We need your creativity,” she told ABC News.Ochoa, a first generation Mexican-American, made history in the…read more »

DOJ makes $8B settlement with Purdue Pharma, OxyContin manufacturer, for role in opioid crisis

Pureradiancephoto/iStock By AARON KATERSKY, LUKE BARR and ALEXANDER MALLIN, ABC News(WASHINGTON) — The Justice Department announced an $8 billion settlement with Purdue Pharma, the OxyContin maker widely accused of fueling the nation’s opioid crisis that has been blamed for more than 400,000 American deaths in the last 20 years.The settlement resolves criminal and civil investigations…read more »

Canadian green start-up Nexii has alternative to cement

schwartstock/iStockBY: LEIGHTON SCHNEIDER, ABC NEWS (NEW YORK) — Canadian green start-up Nexii Buildings Solutions Inc. believes they have a solution to the carbon emission problem in construction. Its product Nexiite, a proprietary material that allows for rapid construction, is a near-zero carbon alternative to cement, a highly carbon-intensive material.  Greenhouse gas emissions are a big…read more »

DOJ makes $8B settlement with Purdue Pharma, maker of OxyContin, for role in opioid crisis

Pureradiancephoto/iStock By AARON KATERSKY, LUKE BARR and ALEXANDER MALLIN, ABC News(WASHINGTON) — The Justice Department announced an $8 billion settlement with Purdue Pharma, the OxyContin maker widely accused of fueling the nation’s opioid crisis that has been blamed for more than 400,000 American deaths in the last 20 years.The settlement resolves criminal and civil investigations…read more »

Walmart reveals 2020 Black Friday deals

Wolterk/iStockBy JACQUELINE LAUREAN YATES, ABC News (NEW YORK) — Walmart announced its “Black Friday Deals for Days” events last week, and now the retailer is giving shoppers a look at some of the best deals.Starting Nov. 4, the company is rolling out several sale events through Nov. 27 with discounted prices available in-store and online.Each…read more »

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