Here's what we are reading this morning:
Bed Bath & Beyond replaces CEO as retailer’s sales plummet: The home goods retailer has faced months of challenges, with supply chain woes and pressure from activist investor Ryan Cohen.
Behind the Celsius Sales Pitch Was a Crypto Firm Built on Risk - WSJ: Celsius CEO Alex Mashinsky built his cryptocurrency lender on a pitch that it was better than a bank. But investor documents show it had far more risk than a traditional lender.
US economy slipped 1.6% to start year; return to growth eyed | AP News: The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter.
Crypto Hedge Fund Three Arrows Ordered to Liquidate by Court - WSJ: A British Virgin Islands court ordered the liquidation of the cryptocurrency hedge fund after creditors sued it for failure to repay debts.
Bed Bath & Beyond the Point of No Return? - WSJ: Inventory problems are haunting the retailer once again. A turnaround seems even more remote.
Over 360 newspapers have closed since just before the start of the pandemic. - The New York Times: The same pace — about two closures per week — was occurring before the pandemic.
CMBS Conduit Spreads Widen Substantially So Far in 2022: CMBS conduit spreads, on both the primary and secondary markets, have widened substantially so far this year, as investors have grown concerned about inflation and an economic slowdown.
Spain rejects state aid for Abengoa unit, bringing it closer to bankruptcy | Reuters: The Spanish government has rejected state aid for Abenewco1, a unit of Spanish engineering and energy group Abengoa , moving it closer to bankruptcy proceedings.