Ethereum could ‘take over everything’, and there won’t be a multi-chain future, says EY’s blockchain leader

Ethereum could ‘take over everything’, and there won’t be a multi-chain future, says EY’s blockchain leader

Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest and greatest in digital assets this week so far. Find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we … Read more

Worry about stagflation, a flashback to ’70s, begins to grow

Worry about stagflation, a flashback to ’70s, begins to grow

WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculous “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High inflation mixes with a weak job market … Read more

Twitter, Macy’s, Nvidia, Lululemon and more

Twitter, Macy’s, Nvidia, Lululemon and more

A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets shopping mall on November 17, 2019 in Central Valley, New York. Gary Hershorn | Corbis News | Getty Images Check out the companies making headlines in midday trading Thursday. Macy’s — Shares jumped 17.8% after the department store chain reported … Read more

Home listings suddenly spike as sellers worry they’ll miss out on red hot market

Home listings suddenly spike as sellers worry they’ll miss out on red hot market

A For Sale sign is displayed in front of a house in Washington, DC. Stefani Reynolds | dpa | Getty Images Sharply higher mortgage rates have caused a sudden pull-back in home sales, and now sellers are rushing to get in before the red-hot market cools off dramatically. The supply of homes for sale jumped … Read more

China zero-Covid: 100,000 officials attend emergency State Council meeting to revive economy

China zero-Covid: 100,000 officials attend emergency State Council meeting to revive economy

The unexpected video teleconference by the State Council was attended by officials across provincial, city and council levels, according to a report in the government-owned Global Times. High-ranking Chinese officials were also present, including Premier Li Keqiang, who urged authorities to take action in sustaining jobs and reducing unemployment. Li said that in some aspects, … Read more

How Costco became a staple of Asian America

How Costco became a staple of Asian America

Durian at a Costco Wholesale location in Woodland Hills, California. April 24, 2022. Wendy Leung Wendy Leung rarely saw durian in grocery stores growing up in Los Angeles, but the 45-year-old nonprofit worker found the fruit at her local Costco Wholesale in San Fernando Valley this April. Durian is used in Southeast Asian cuisines and … Read more

Russia slashes interest rates as ruble rebound provides some relief

Russia slashes interest rates as ruble rebound provides some relief

At an extraordinary meeting, the Russian central bank cut interest rates to 11% from 14% and said further reductions could follow. Rates were hiked as high as 20% in the immediate aftermath of Russia’s invasion of Ukraine in February as the bank tried to prevent Western sanctions triggering a financial crisis. “Inflationary pressure eases on … Read more

Macy’s, Twitter, Medtronic and more

Macy’s, Twitter, Medtronic and more

Check out the companies making headlines before the bell: Macy’s (M) – Macy’s surged 15% in the premarket after reporting better-than-expected profit and revenue for the first quarter and raising its full-year earnings forecast. Results got a boost from strong apparel demand as people returned to work and other out-of-home activities. General Dollar (DG) – … Read more

Macy’s (M) reports Q1 2022 earnings beat, raises forecast

Macy’s (M) reports Q1 2022 earnings beat, raises forecast

A person walks past a Macys store in Hyattsville, Maryland, on February 22, 2022. Stefani Reynolds | AFP | Getty Images Macy’s on Thursday reported fiscal first-quarter profits and sales ahead of analysts’ expectations, as shoppers returned to malls to shop for new outfits, luggage and luxury goods in spite of decades-high inflation that has … Read more