Business
$100 million New Jersey deli owner Hometown International just announced a merger with a bioplastics firm
Your Hometown Deli in Paulsboro, N.J. Google Earth Hometown International — that odd, publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli — has announced plans to merge with Makamer, a private bioplastics start-up firm. The money-losing Your Hometown Deli in Paulsboro, N.J., which […]
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Soaring markets helped the richest 1% gain $6.5 trillion in wealth last year, according to the Fed
Warren Buffett and Jeff Bezos Lacy O’ Toole | CNBC; Getty Images The wealth of America’s wealthiest people, such as Warren Buffett and Jeff Bezos, increased by a total of $6.5 trillion last year, mainly driven by soaring stock prices and financial markets, according to the Federal Reserve. The total wealth of the 1% reached […]
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Biden’s top economic advisor says restarting the Keystone XL pipeline now won’t lower oil prices
President Joe Biden’s top economic advisor suggested Friday the White House is not rethinking its decision to cancel the controversial Keystone XL oil pipeline in response to elevated crude and gasoline prices. National Economic Council Director Brian Deese told CNBC the Biden administration is instead concentrating on policies and strategies that can deliver lower fuel […]
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General Motors’ U.S. sales slumped in the first quarter, trailing rival Toyota’s
A Chevrolet pickup truck is seen at the Knapp Chevrolet dealership on February 02, 2022 in Houston, Texas. Brandon Bell | Getty Images General Motors’ first-quarter U.S. sales fell 20% from a year ago, in line with analysts’ expectations, as ongoing supply-chain issues disrupted its production and kept dealers’ inventories tight. But GM’s North America […]
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Biden’s plan to bring down gas prices could take weeks. Here’s how to get relief now
Filling up at the pump comes with a hefty dose of sticker shock. Russia’s invasion of Ukraine and global supply concerns have sent gas prices to record highs — hitting $6 in some parts of the country. To combat the spike in energy costs, the White House said it will release 1 million barrels of […]
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There’s a big buying opportunity in this pizza stock, Oppenheimer says
After a rough start to the year for Papa John’s, Oppenheimer sees an attractive entry point for the pizza chain. Source
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5 things to know before the stock market opens Friday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Futures rise after jobs report and worst quarter in 2 years Traders on the floor of the NYSE, March 31, 2022. Source: NYSE U.S. stock futures started the second quarter higher Friday after lower-than-expected but still robust […]
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Restaurants are getting creative with menus to counter soaring food costs
Long Beach Fish Grill’s menu board Source: Jessica Dinglasan Jessica Dinglasan, owner of Long Beach Fish Grill in Long Beach, California, never used to write “market price” on her menu. But now the halibut fish she sources costs more than $30 a pound, nearly double what it was a year ago, and the 13-gallon container […]
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Stocks making the biggest moves premarket: GameStop, Apple, BlackBerry and more
Check out the companies making headlines before the bell: GameStop (GME) – GameStop plans to seek shareholder approval to boost the number of shares outstanding in order to enable a stock split. The videogame retailer is proposing an increase to 1 billion shares from 300 million. The stock surged 16.6% in the premarket. Apple (AAPL) […]
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Baird downgrades Walgreens, says stock is ‘too complicated’ after latest earnings report
Walgreens reported quarterly earnings beating Wall Street estimates, but shares fell nearly 6% Thursday as investors worried pandemic-related demand is fading. Source
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