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Business News

Location American Business News for 19 October 2022
My logistics company operates warehouses in 2 of the sector's hottest markets. We made 8 figures in revenue last year thanks to the boom in e-commerce. Brendan Heegan, founder of Boxzooka, works with retailers, wholesalers, and subscription-box companies, and his warehousing business is flourishing.
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These Americans Aren't Bothered by Stock Market's Terrible Year

Wall Street Journal - 19 Oct 2022 15:00
Some say they can't afford to put money into the market while others think there are better routes to wealth.
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USDA announces $1 billion debt relief for 36,000 farmers

Chicago Tribune - 19 Oct 2022 14:01
USDA announces $1 billion debt relief for 36,000 farmers The federal government announced Tuesday a program that will provide $1.3 billion in debt relief for about 36,000 farmers who have fallen behind on loan payments or face foreclosure.
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Bank of America and JPMorgan Say US Economy Is Doing Well, Consumers Are in Good Shape Despite Inflation Bank of America CEO Brian Moynihan and JPMorgan & Chase CEO Jamie Dimon both agree that the U.S. economy is doing well and consumers are in good shape. “The consumers basically have more money in their accounts by mult...
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Biden to Sell More Oil From Strategic Reserve to Keep Gas Prices in Check The president will also consider more reserve sales this winter as the U.S. completes the tapping of 180 million barrels approved in March.
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'Target Black' isn't real and the video that started the rumor just shows a corporate office exterior, the company says While there won't be any Target concept stores opening in the location any time soon, the space has housed some ofTarget's NYC corporate offices since 2013.
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Walmart-Backed Indian Commerce Giant Flipkart to Allow Customers to Buy Items in the Metaverse As Indian online retail giant Flipkart seeks more digital interaction with its customers, the company has announced it will initiate a metaverse offering, Flipverse, enabling them to access "gamified, interactive and imm...
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What the Banks Stock Rally Says About Wall Street

The New York Times - 19 Oct 2022 13:59
What the Banks Stock Rally Says About Wall Street A strong batch of earnings have propelled bank stocks in recent days, but investors remain more cautious on the outlook of Goldman Sachs and Morgan Stanley.
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With New BP Deal, Divert Steps $175 Million Closer To Solving The Wasted Food Problem A 10-year offtake agreement for renewable natural gas with bp is just the latest in a series of advances this Massachusetts-based company has made in its 15-year history toward tackling this tremendous challenge.
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How Long Did The Great Recession Last In 2008? The Great Recession was an epic financial meltdown for individuals and institutions. With talk of the economy entering another recession, let's look back at the causes of the 2008 recession and learn how this next one wi...
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Biden Will Release 15 Million Barrels Of Oil From Reserves-- Here's What To Watch For The White House's latest release is part of a broader effort to keep average national gas prices below $4 a gallon.
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Hong Kong's Stock Exchange Proposes Pre-Revenue Tech Listings

Wall Street Journal - 19 Oct 2022 13:16
The move is an attempt to expand the number of potential IPOs in a market that has struggled this year.
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Halliburton Stock Up 14% Over Last Ten Days, Can It Keep Up? Halliburton stock (NYSE: HAL), an energy company organized into exploration, development, and production of oil and natural gas, has increased by 14% over the last ten trading days (two weeks) and currently stands at aro...
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Goldman Sachs is scaling back its consumer business as it announces an overhaul of the firm's businesses. A surge in trading helps save the quarter.
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Consumers will still feel the strain of high energy prices this winter. It'll just show up in soaring utility bills instead of at the pump.      
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The backlash against B Lab

Fast Company - 19 Oct 2022 08:00
The backlash against B Lab The B Corp seal is a symbol of enlightened capitalism. As ever-bigger companies seek it out, can it stay meaningful? When Nespresso announced, at the end of April, that it had received B Corp certification, it was a mile...
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BTC energy use jumps 41% in 12 months, increasing regulatory risks Despite the European Union rejecting a proposal banning crypto mining earlier this year, more regulations could soon be implemented to mitigate the environmental impacts of crypto mining.
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The US is at a 'greater risk' of civil conflict now than during the Great Depression, according to a presidential historian "Tragically, I think we will see more of civil chaos," presidential biographer Jon Meacham told NPR. "I think we are going to see it with violence."
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The SEC has filed charges against former NewAge Inc. CEO Brent David Willis, accusing him of a "multi-year fraud" that included misleading public statements.
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Macy's Inc. and Nordstrom Inc. became the latest retailers to lower their financial goals for the year, citing risks of a steeper economic downturn and slowdown in consumer spending.
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Real estate insiders take swipe at Back-to-Work Barometer hailed by NYC mayor A Post survey found that Kastle tracks only two of the city's 10 largest real estate empires, which have the lion's share of financial and legal tenants with more employees on-site than other types of businesses.
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HSBC Put on Notice for Greenwashing Following 'Misleading' Sustainability Claims British bank HSBC is the latest advertiser to have its ads spiked for "misleading" customers over green initiatives. The brand has been warned by the U.K.'s Advertising Standards Authority (ASA) after running a series of...
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