Demand for grocery delivery cools as food costs rise

Shoppers shop at a grocery store in Glenview, Illinois on July 4. US demand for grocery delivery is cooling as food prices rise. Some shoppers are shifting to less expensive grocery pickup, while others are returning to the store. (Nam Y. Huh, Associated Press) Estimated reading time: 5-6 minutes NEW YORK — Karen Raschke, a … Read more

America’s strong dollar is hurting everyone else

The greenback is up more than 10% in 2022 compared to other top currencies — near its highest level in two decades — as investors worried about a global recession have rushed to scoop up dollars, which are considered a safe haven in turbulent times. Adding to the dollar’s appeal is the Federal Reserve’s aggressive … Read more

New Sebi rules may pull the rug out from India’s bid to boost the bond market

India’s plan to expand its corporate bond market faces an unexpected impediment because the regulator is considering tightening control of trading platforms that allow investments in company debt in just a few clicks. While the proposed framework is designed to protect investors and is therefore being welcomed by some, a … Read more

Celsius withdraws motion to hire CFO back at $92,000 a month

Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was “able to enrich himself considerably.” Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Embattled … Read more

The Inflation Reduction Act is a tax on companies, shareholders

If you hate global warming, you got a big win this weekend with the Inflation Reduction Act. But if you care about the stock market and inflation, then you got a big loss with the Spend Our Way to Oblivion Act, or SOWOA. In real life, I may be an environmentalist first. But in this … Read more

This Week on Crypto Twitter: Michael Saylor Leaves CEO Role to ‘Focus More on Bitcoin,’ Nomad and Solana Get Hacked

Illustration by Mitchell Preffer for Decrypt After two consecutive weeks of growth, crypto markets cramped up a bit. Even as reports of liquidity problems appear to have slowed down, investors were cautious. This week, Bitcoin-HODLing corporations Block Inc. and MicroStrategy both reported significant impairment charges on their holdings. Block is down $36 million, while MicroStrategy … Read more

Impending passage of Democrats’ climate and tax bill is a ‘boondoggle’: Mike Rounds

Republican South Dakota Sen. Mike Rounds on Sunday labeled the impending passage of a Democratic tax, climate and health bill for a “boondoggle” for the country. Rounds was responding to ABC “This Week” anchor George Stephanopoulos, who asked him in an exclusive interview immediately after Delaware Democrat Chris Coons appeared: “We just heard Sen. Coons … Read more

RPT-WEEKAHEAD-Wall St Week Ahead: Inflation Data May Seal Fate of Unloved US Stock Rally

A rally in US stocks that has powered on despite skepticism from Wall St faces a reality check in the coming week, as key inflation data threatens to close the door on expectations of a dovish shift from the Federal Reserve. The S&P 500 has walked a tightrope this summer, rising 13% from its mid-June … Read more

Walmart Is Facing Inflation, Overstock, and Overstaffing

Walmart has nixed hundreds of corporate roles. The company has repeatedly sounded the alarm about inflation and economic uncertainty. Given Walmart’s influence and reach, its struggles could indicate industry-wide struggles for retailers. Loading Something is loading. Walmart made a major splash Monday when it laid off around 200 corporate employees – a move that indicates … Read more