Business Contents Archive

Federal Reserve officials raised interest rates by 75 basis points for the second straight month, delivering the most aggressive tightening in more than a generation to curb surging inflation -- but risking a sharp blow to the economy.⁣ ⁣ Policy makers, facing the hottest price pressures in 40 years, lifted the target range for the federal funds rate on Wednesday to 2.25% to 2.5%. That takes the cumulative June-July increase to 150 basis points -- the steepest rise since the price-fighting era of Paul Volcker in the early 1980s. Read more at the link in our bio.

Say goodbye to McDonald’s 99p cheeseburger. ⁠ ⁠ For the first time in 14 years, the fast-food chain will raise the price of its signature burger in all of its 1,300 UK outlets.⁠ ⁠ 'Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation,' said McDonald’s UK and Ireland chief executive Alistair Macrow.⁠ ⁠ Starting today, the 99p cheeseburger will be sold for £1.19. ⁠ ⁠ #FinancialTimes #Burger #Inflation

"Don’t believe the hype of someone else that's looking down on you," says Walgreens CEO Roz Brewer. Brewer sat down for an interview with HBR's editor in chief, Adi Ignatius, for HBR's LinkedIn Live series, "The New World of Work: Candid conversations with CEOs on talent, tech, and the future of business." You can watch the full interview on Linkedin or YouTube.

ECONOMIC CLARITY: Economists widely agree the risks of a recession climbed considerably this year and that avoiding a downturn in the near future will be increasingly difficult. Link in bio.

In 2010, over a sushi dinner with a friend, Jason sparked an interest in what would become his next entrepreneurial adventure: transforming modern card issuing. With a deep intellectual curiosity for how credit cards work, Jason built Marqeta to bring game-changing card products into the world. Marqeta now works with customers in 39 countries, has a team of nearly 900 employees, and IPOed in 2021. On this week’s Inc. Founders Project with inspiredcapital founder alexavontobel, Jason shares how he almost moved to Australia to start a Jamba Juice-style chain before Marqeta, how he persevered after nearly running out of money in 2015, and why he's fueled by the challenge of people not believing in him. Click the link in our bio to hear the full episode 🎧

RUNNING RISKS: Policymakers remain laser-focused on bringing inflation under control as higher prices prove persistent — even if it triggers a recession.

Who wants to be a billionaire?* The jackpot in the Mega Millions lottery has ballooned to $1.02 billion after no one matched all six numbers Tuesday night, making it 29 consecutive drawings without a big winner. *Prizes are subject to taxes — but it's still a lot of cash. Link in bio.

● It didn’t take much reading between the lines to see what Facebook was doing when the social network announced its latest product changes: copying TikTok, the video-sharing app that it increasingly sees as its main competitor. ● Copycatting is a familiar Meta strategy; the company’s been launching Snapchat-inspired features for almost a decade. ● Zuckerberg is betting that posts from friends and family aren’t actually what users want to see, no matter how much they care about them. ● Tap the link in our bio for more. (Photo illustration: 731; Photos: Getty Images)

BREAKING BILLIONS: The cash option for the massive $1.02 billion Mega Millions jackpot is an estimated $602.5 million. Link in bio.

Hawaii's Kilauea is said to be the world's most active volcano, but where do the others lie? Japan's Sakurajima volcano at the Southern tip of the country erupted late Sunday, prompting evacuations and a Level 5 alert, the highest possible warning. According to CNN, the volcano is one of the most active in the country and had previously erupted in January. This makes the Sakurajima one of the 44 active volcanoes in the country that have erupted since 1950. Only Indonesia has more recently active volcanoes at 58. The United States follow close behind Japan with a count of 42 active volcanoes due to the volcanic areas in and around Hawaii and Alaska. Two Latin American countries as well as two nations in the Pacific appear among the top 10. In Europe, Iceland has the most active volcanoes together with France, which has active volcanoes in its departments Guadalupe, Mayotte and La Réunion as well as overseas territory French Polynesia.

While diners in London are forking out £15 for smashed avocado on toast, Australia has such an oversupply of avocados that farmers are desperately looking for markets to offload the fruit. ⁠ ⁠ The cost of a single avocado has dropped as low as A$1 (US$0.70), about one-tenth the price of a head of lettuce and less than half the fruit’s five-year average price.⁠ ⁠ Australia's shift in export strategy will put it in direct competition with producers in Mexico and Peru, which dominate the global market. New Zealand is also adding to the export congestion, as it used to sell most of its avocados to Australia.⁠ ⁠ Tap the link in our bio to learn more.⁠ #avocado #australia #agriculture #financialtimes #graphs #ag #australianfarming⁠

🏝 Why work from home when you can work from the beach? The Dutch-Caribbean island of Curacao has topped a new ranking of the best tropical islands for US digital nomads, thanks in part to its comfortable temperatures and solid WiFi speeds. The survey, by HR sofware company Zenefits, also takes into account cost of living and ease of travel. Tap the link in our bio to see the top 10.

TIMING IS EVERYTHING: Paul Pelosi's notable history of buying stocks right before they skyrocket. Link in bio.

● All over Europe, temperatures in wine regions have been sweltering at new highs, and heat waves are moving north into such normally cool countries as Germany. ● Winemakers worry this will lower yields by 25% or more for this vintage. Many had already been slammed by early frost and hail. ● Even if a fire doesn’t burn vines, smoke from nearby flames can ruin crops for miles. ● Tap the link in our bio for more. (📸: Miguel Riopa/AFP)

HCL Technologies chief Roshni Nadar Malhotra has topped the list of "leading wealthy women 2021", published by Hurun Report India on July 27. Malhotra's wealth, as per the list, climbed by 54 per cent over the past year to reach Rs 84,330 crore. She is followed by Nykaa founder Falguni Nayar, who has overtaken Biocon chief Kiran Mazumdar-Shaw for the second spot. #RichList #RichestWomen #IndianWomen #HurunRichList