Business

A chain of cannabis stores once dubbed the “Apple Store of Weed” and valued as a public company at up to $1.7 billion is on the brink of financial collapse, according to a regulatory filing. MedMen said it was down to $15.6 million in cash versus $137.4 million in debt. “The conditions described above cast significant doubt on the company’s…

Federal Reserve Bank of Atlanta President Raphael Bostic said January’s strong jobs report raises the possibility that the central bank will have to hike interest rates to a higher peak than policymakers had previously anticipated. If a stronger-than-expected economy continues, “it probably means we have to work a little more,” Bostic told Bloomberg News in a phone interview on Monday.…

The hottest ticket in town for advertisers has officially sold out. Fox said Monday that all in-game ads for Super Bowl LVII have been sold. The top game between the Kansas City Chiefs and the Philadelphia Eagles takes place on Sunday. The Super Bowl is advertising’s biggest stage, with advertisers struggling to get their products in front of the more…

The US real estate market could finally be at the bottom. At least that’s what Goldman Sachs says. Just two weeks after Goldman Sachs downgraded its US housing market outlook in a paper titled “Get Worse Before It Gets Better,” the investment bank returned on Jan. 23 in a paper titled “2023 Housing Outlook: Finding a Trough” changes the course.…

For the first time in almost two months, the box office does not belong to the blue ones. After seven weeks as the top film in theaters, Avatar: The Way of Water was eventually ousted from the #1 spot by M. Night Shyamalan thriller Knock at the Cabin and 80-year-old comedy 80 for Brady. ” “Knock at the Cabin,” a…

A smoldering mess of dozens of derailed boxcars, some carrying hazardous materials, has kept an evacuation order in effect in Ohio near the Pennsylvania state line, while environmental officials watch air quality monitors warily. About 50 cars derailed around 9 p.m. Friday in eastern Palestine as a train was carrying a variety of produce from Madison, Illinois to Conway, Pennsylvania,…

Oil will surge above $100 a barrel again this year and could face a serious supply problem in 2024 as spare production capacity is exhausted, according to Goldman Sachs Group Inc. As sanctions are likely to cause Russian oil exports to fall and Chinese demand to recover when the country ends its Covid-Zero policy, prices will surge from their current…

Union members voted against a proposed contract that covered tens of thousands of Walt Disney World service workers, saying it doesn’t go far enough to help employees deal with cost-of-living increases in housing and other expenses in Central Florida. Unions said 13,650 out of 14,263 members who voted on the deal Friday rejected Disney’s proposal, sending negotiators back to the…

Tesla has raised prices for its Model Y in the US, apparently due to rising demand and changes in US government regulations making more versions of the small SUV eligible for tax credits. The Austin, Texas-based electric vehicle company increased the price of the long-range version of the Model Y by about 2% to $54,990 and the performance version by…

On Friday, Google announced a partnership with Anthropic, a startup founded in 2021. Anthropic makes Claude, which like ChatGPT is an artificial intelligence chatbot. According to the $300 million deal, Google will take a 10% stake in the startup financial times. For its part, Anthropic is getting both a financial boost and cloud computing resources it needs. The deal could…