Instant Delivery Startups Test a New Tactic: Slower Delivery — The Information: In August, its third month of operation in New York City, the one-year-old startup [Jokr, last valued at $1.2 billion on paper] was losing $159 per order in the U.S., according to internal data sent to investors in the fall that was viewed by The Information.
December Jobs Report: U.S. Added Only 199,000 Jobs - The New York Times: The survey signals a struggle by employers to find workers. The unemployment rate fell to 3.9 percent.
Here’s How Climate Change and Covid Are Transforming Skiing - The New York Times: Skiing is an endangered sport, caught between a warming planet and a global pandemic.
Operational and Financial Issues in the “Great Reopening” – Hotel-Online: Though we are living in a rapidly changing environment, there are some issues and trends that are likely to be with us for the-near-to-mid future that owners, operators, investors and lenders should be aware of.
Omicron compounds worker shortage, supply chain woes for retailers: Retailers and restaurants no longer face the looming threat of government shutdowns, but they are struggling with lean workforces and limited inventory.
Several retailers are at risk of a default - Axios: Rating agencies are eyeing apparel retailers Tailored Brands (owner of Men's Wearhouse), Boardriders, J.Jill and Belk. They're also eyeing Isagenix, a multi-level marketer of dietary supplements, and discounter 99 Cents Only Stores.
Purdue Pharma can appeal rejection of bankruptcy plan | Reuters: A U.S. judge on Friday allowed Purdue Pharma to immediately challenge her rejection of legal protections for Sackler family members who own the OxyContin maker, and which were key to its bankruptcy reorganization plan.
Midtown DoubleTree Sells at Half-Off From 2011 Sale: Hawkins Way Capital purchased the hotel site from RLJ Lodging Trust for $146 million, less than half of what the last owner paid.
Airlines, Reeling From Omicron, Push E.U. to Ease Rules on Airport Slots - The New York Times: The airlines say they are being forced to fly thousands of nearly empty flights to satisfy rules requiring the use of landing and takeoff slots at airports.
Cannabis Producer CannTrust (CNTTQ) Prepares for Potential Wind-Down - Bloomberg: CannTrust Holdings Inc., the troubled Canadian cannabis producer whose former executives have been charged with fraud, is preparing to wind down if it can’t find a way to fix a default by the end of the month.
Shimao Default Notice Hammers Bonds, Stokes China Property Fear - Bloomberg: Shimao Group Holdings Ltd., a bellwether for financial contagion in China’s embattled property industry, suffered its biggest-ever bond rout on Thursday after a creditor said one of the developer’s units defaulted on a local loan