Tag: Business

Grocery app Gorillas drops 10-minute delivery pledge, adds in-store pickup option

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The Post has learned that an app that charmed New Yorkers by promising groceries and other essentials in just 10 minutes now takes more than an hour to make some deliveries. Gorillas App – launched last May with flashy ads featuring “groceries in 10 minutes” and quietly raised $1.3 billion in venture capital pulled No mention of specific delivery dates from its website in December. And as of Friday morning, Gorillas offered an estimated delivery time of 61 minutes in Williamsburg. Meanwhile, deliveries on the Upper East Side were expected…

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Russia’s richest people lost a combined $39 billion after the invasion of Ukraine

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Russia’s richest individuals paid a heavy price on Thursday after Russian President Vladimir Putin ignored international warnings to embark on an all-out invasion of Ukraine. Russian billionaires lost a total of $39 billion of their net worth on paper after the country’s stock market crashed in response to the invasion. Moscow’s benchmark MOEX Russia closed down 33% on Thursday – marking one of the worst single-day market crashes in the country’s history. Vagit Alekperov, a billionaire oligarch and head of the Russian energy giant Lukoil, was the hardest hit. He…

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Will sanctions on Putin’s Russia succeed?

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The United States, Britain and other Western countries imposed new sanctions on Russia after the Russian invasion of Ukraine. Here’s what has been suggested so far and what other sanctions could target Russia: Putin himself The Financial Times, citing three people familiar with the sanctions package passed on Friday, reported that the European Union is preparing to freeze the assets of Vladimir Putin and Russian Foreign Minister Sergei Lavrov. Banks and financial companies The US and UK announced restrictions that, along with previous sanctions, would expel the vast majority of…

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How Russia Can Use Cryptocurrency to Avoid US Sanctions on Ukraine

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The Biden administration has vowed to impose harsh economic sanctions on Russia over its invasion of Ukraine, which began in earnest Thursday morning. But according to experts, it is possible that the oligarchs of billionaires close to Russian President Vladimir Putin will mitigate the effects of the sanctions thanks to cryptocurrency. The decentralized nature of digital currencies such as Bitcoin and Ethereum allows governments and non-state entities alike to benefit from peer-to-peer transactions – regardless of whether they are isolated from traditional banking. Matthew Siegel from VanEck Investment Manager Tell…

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Sex toys are now sold at retailers like Bloomingdale’s and Sephora

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Risqué products like vibrators, lubricants, oils, and butt plugs were once the exclusive domain of prostitutes and cheap drugstores. But times have changed. Sephora recently became the latest retailer to offer these items from emerging boutiques like Maude and Dame Products under the “Sexual Wellness” category. Bloomingdale’s and Nordstrom began offering these products last year. In May, Bloomingdale’s began marketing its line of “Best Sexual Wellness Picks.” Executives said that popular attitudes, particularly among millennials and Generation Z, have shifted as they relate to gender — and that shift has…

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Report: Goldman Sachs Takes Back Bonuses From Former CEOs

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Goldman Sachs wants to recoup bonuses from executives who leave the investment banking giant as it rushes to stem a wave of high-profile departures, according to a new report. When one of the company’s young stars, 42-year-old Omar Ismail, left with one of his deputies to run a Walmart-backed startup, Goldman CEO David Solomon was so angry that the bank considered forfeiting the husband’s acquired stock options, According to Bloomberg. Withdrawal of vested shares is usually a last-ditch action taken against an individual accused of misconduct. It’s not something that…

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Buying NFTs and Cryptocurrencies “Entrance” to Magic and Communication

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There is a new financial model for the food and beverage industry that is still struggling: the world of blockchain, crypto, and NFTs. Two of the New York-based restaurant groups raise money through individual “NFT” memberships, or non-fungible tokens typically associated with digital art pieces. Think of it as a 21st century version of a country club or modern Soho House. You pay a one-time membership fee to get into a club (or restaurant or bar) – and it allows you to reach a group of people like you. Restaurants…

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Putin’s move in Ukraine makes it difficult to tame inflation in the United States

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US policymakers already dealing with inflation stuck at its highest levels in 40 years now have another challenge to add to their list: the Russian invasion of Ukraine. What happens in a distant world can affect the pockets of American consumers because Russia is a major global oil producer: if sanctions or conflict boggles Russia’s tap in the world, it could send oil prices skyrocketing. Higher energy prices will hit the pockets of ordinary Americans who are already suffering from inflation that recently recorded a 7.5% increase from last year.…

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Subway says sales are up, but critics say the main reason is inflation

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Subway restaurants said Tuesday that sales across the United States improved steadily throughout 2021, although industry experts said the gains were primarily due to price inflation and that the chain was still lagging behind the competition. And the No. 2 fast food chain in America said sales rose 8.7 percent in December compared to the same period two years ago. Subway also said that 75 percent of its U.S. restaurants saw same-store sales increase 7.5 percent in 2021 compared to 2019. Subway has promoted new sandwiches including Cali Fresh Turkey,…

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More conflict between Russia and Ukraine would bring down US stocks: Goldman

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Goldman Sachs analysts have warned that the S&P 500 and other stock indices are poised for a big sell-off if Russia’s military aggression toward Ukraine escalates into a full-blown invasion. Goldman Sachs issued the downbeat forecast hours after Russian President Vladimir Putin recognized two separate pro-Moscow regions in Ukraine as independent and ordered troops into the enclaves. President Biden and other world leaders have warned of severe sanctions if Putin pursues a military offensive. The S&P 500 could fall 6% from last Friday’s close in a worst-case scenario for an…

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