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Business News

Location American Business News for 19 May 2022
Govor agrees to buy all McDonald's in Russia and rebrand them Alexander Govor pays undisclosed fee after US burger chain pulls out of Russia over invasion of Ukraine McDonald's has reached a deal to sell all its restaurants in Russia to one of its licensees in the country, the busi...
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Republican Senate candidate Herschel Walker failed for months to report millions in earnings Walker, a US Senate candidate in Georgia, is obligated by law to accurately disclose details about his personal finances but is unlikely to face a significant penalty.
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How Homeowners Can Lock in the Steep Rise in Home Values

Wall Street Journal - 19 May 2022 17:00
For those who don't want to sell, there are strategies to use to hedge against a future decline.
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Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end.
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Rising costs catch up with Walmart and Target

The Economist - 19 May 2022 13:19
America's big retailers' shares swoon
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Oklahoma passes near-total ban on abortions after 'fertilization' that goes even further than Texas' law Gov. Kevin Stitt, a Republican, is expected to sign the legislation that is modeled after Texas' controversial anti-abortion law.
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Berkshire's stakes in Apple, Coca-Cola, American Express, Bank of America, Kraft Heinz, and Chevron tumbled in value as investors dumped equities.
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George W. Bush mistakenly condemned Putin's 'brutal, unjustified invasion of Iraq' instead of Ukraine, then blamed the slip-up on age Bush's administration was widely criticized for misleading rhetoric about the presence of weapons of mass destruction before invading Iraq.
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Tencent Profit Plunges 51% Amid China Covid Surge, Revenue Flat Shares in the China Internet heavyweight have lost more than half of their value since early 2021
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Renters were willing to pay 1.8% more in monthly rent for a more energy-efficient apartment, the American Council for an Energy-Efficient Economy found.
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Jack Dorsey's Block hits $1.3B in Q1 profits, $43M in BTC trading revenue Despite the fact that the Bitcoin price trended down over Q1, the Block ecosystem of payment solutions with Bitcoin in mind performed well.
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Virtex, developer of a social VR esports stadium has closed a seed funding round which earned $3.2 million.
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Geforce Now brings Fortnite to it's service. Now players on iOS or Android can play Fortnite with improved controls.
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Retailers, Are You Ready to Maximize Your Retail Media Revenue?

Retail Touch Points - 19 May 2022 16:32
Retailers, Are You Ready to Maximize Your Retail Media Revenue? With heady revenue predictions for retail media north of $100 billion and with equally impressive growth rates, it's not surprising to see a surge of retailers opening advertising shops in attempts to capture share. But ...
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A 'summer of pain' is shaping up for US stocks, with a 45% slide from the S&P 500's top on the cards, Guggenheim's Scott Minerd predicts US stock markets face battering in the coming months, Guggenheim's Scott Minerd said, with the Nasdaq and S&P plunging 75% and 45%, respectively.
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Block Expects Bitcoin To Disrupt Legacy Payments, Boost Its Business Fueled by the ongoing expansion of the Lightning Network, bitcoin (BTC) has the potential to disrupt the existing legacy payment networks the world over -- and Block, the payments company formerly known as Square, hopes ...
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Under Armour's COO Colin Browne will take over from Patrik Frisk as interim president and CEO until the company finds a permanent successor.
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Sweet Chick Secure $5 Million Investment In Chicken And Waffles Beloved Chicken and Waffle restaurant Sweet Chick partners with Founders Table to fuel expansion.
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How Ford's CEO became a podcaster, with a little help from Tom Brady Ford CEO Jim Farley has showbiz in his blood. On "Drive," his new Spotify podcast series, a shared love of cars is the vehicle for conversations with the likes of Tom Brady, Dax Shepard and Jimmy Kimmel.
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Kohl's joins a growing list of major retailers that have seen logistics and staffing expenses eat into profits amid 40-year-high inflation.
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Blackout Warning: Energy Policy Failures May Lead To Summer Blackouts Here's why we could be in for devastating electricity outages this summer.
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Ethereum's Ropsten Testnet to 'Merge' Next Month in Preparation for Proof-of-Stake Ethereum (ETH)'s Ropsten public testnet, which allows for blockchain development testing before deployment on the mainnet, is estimated to undergo "the Merge" on June 8 in preparation for the main Ethereum blockchain to ...
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