business news
From $25 billion to $167 million: How a major crypto lender collapsed and dragged many investors down with it
Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But just because the fall of this embattled crypto lender didn’t come as a shock, doesn’t mean it wasn’t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the crypto […]
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Most small business owners don’t do the math on their most valuable asset
Many small company owners don’t know what their enterprise is worth, a practice that can amount to risky business. A whopping 98% of small businesses polled by M&T Bank over the past two years didn’t know the value of their companies. This is especially troubling, given that for most business owners, their company is their […]
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Restaurants are short-staffed, and that’s taking a big toll on customers and workers alike
A waiter works at a restaurant in Alexandria, Virginia, on June 3, 2022. Olivier Douliery | AFP | Getty Images Jeff Rothenberg has grown accustomed to long wait times at restaurants, even when tables are visibly open. “Another restaurant we went to had open seats outside, but when we went to the host, they mentioned […]
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Russia strikes south Ukraine city, presses attacks in the east
Russian missiles hit industrial facilities at a strategic city in southern Ukraine Sunday as Moscow continued efforts to expand its gains in the country’s east. Mykolaiv Mayor Oleksandr Senkevych said that the Russian missiles struck an industrial and infrastructure facility in the city, a key shipbuilding center in the estuary of the Southern Bug river. […]
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Airfares are finally starting to cool as peak summer travel season fades. Now what?
Passengers are seen at the Delta Air Lines check-in counters at Hartsfield-Jackson Atlanta International Airport ahead of the Fourth of July holiday in Atlanta, Georgia, July 1, 2022. Elijah Nouvelage | Reuters Flights, believe it or not, are getting cheaper. Airfares fell a seasonally-adjusted 1.8% from May to June, according to the latest U.S. inflation […]
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Decision to exempt gas turbines from sanctions right thing to do: Freeland
Deputy Prime Minister Chrystia Freeland says Canada’s decision last week to send repaired parts of a Russian natural gas pipeline back to Germany was a difficult decision, but the right one. The Liberals are facing heavy criticism from Ukraine for exempting six Siemens Energy turbines, which were serviced in Montreal and help deliver gas to […]
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White House: Russian officials visited Iran to see drones
Russian officials visited an airfield in central Iran at least twice in recent weeks to view weapons-capable drones it is looking to acquire to use in its war against Ukraine, the White House said. The Biden administration released the intelligence as President Joe Biden met Saturday with leaders of six Arab Gulf countries, plus Egypt, […]
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These pandemic snacking and drinking habits are here to stay, candy and booze companies say
People visit the M&M store in Times Square on July in New York City. Spencer Platt | Getty Images The Covid-19 pandemic significantly changed consumer behavior from where they shopped to what they bought. That was felt throughout the snacks and spirits industries and some of those habits have hung on, senior executives from Beam […]
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‘Bang, bang’: Children live and play near Ukraine front line
The children flicker like ghosts on the empty playgrounds in weedy courtyards deep in a city whose residents have been told to get out now. Six-year-old Tania has no more playmates left on her street in the eastern Ukraine city of Kramatorsk. She sits on a bench only steps away from the city’s train station […]
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Investors bet on meat grown in a lab as interest in plant-based foods cools
Investors want meat production to look more like the pharmaceutical industry than agriculture. Cultured meat, also known as cultivated, cell-based or lab-grown protein, is made by putting stem cells from the fat or muscle of an animal into a culture medium that feeds the cells, allowing them to grow. The medium is then put into […]
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