Instacart slashes its valuation to $24 billion
CNN
Instacart's valuation doubled twice to $39 billion in the first year of the public health crisis, fueled by a pandemic boon to its on-demand grocery delivery business. Now it's falling back to earth.
On Thursday, the decade-old, privately-held startup informed its 3,000 corporate employees that it is revising its valuation down to $24 billion, citing market conditions.
An Instacart spokesperson said in a statement to CNN Business Friday that the company is "confident in the strength of our business, but we are not immune to the market turbulence that has impacted leading technology companies both public and private."
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Mega Millions is rolling out major changes — including a 150% price increase — this week, as the multi-state lottery game aims to improve odds and dish out bigger jackpots.
The massive tariffs that President Donald Trump announced for dozens of trading partners Wednesday were pitched as “reciprocal,” simply aiming to match the tariffs other countries charge the United States.
Birmingham’s garbage collectors have been on strike over pay, so some of the city’s 1.2 million residents have not had their waste collected for weeks. Mounds of garbage bags, some several feet high, dot the red-brick streets like pins on a corkboard
America has a brand new tax on virtually every item that comes over its border: 10%.
President Donald Trump announced on Friday that he will again delay enforcement of the TikTok sale-or-ban law for 75 days, as his staff continues to work on a deal to preserve access to the app in the United States.
Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday.
US stocks were set to plunge Friday after China retaliated against the United States for President Donald Trump’s tariffs.
The March jobs report, scheduled for release at 8:30 a.m. ET, is expected to show that even though hiring in the US is slowing, the overall labor market remains fairly healthy.
China said on Friday it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war.
The saying goes that when America sneezes the rest of the world catches a cold — pithy shorthand to describe how changes in the world’s biggest economy ripple out to impact everyone else.
Here’s a tip for anyone else who finds themselves gobsmacked: Stop trying to make it make sense.
Businesses spent years diversifying away from China. Trump’s trade war could destroy those economies
For Tim Hsu, who sells modern lamps and ceiling lights mostly to American customers, US President Donald Trump’s historic tariff announcement has upended his carefully made plans.
President Donald Trump on Wednesday launched a US trade war with every country via a barrage of tariffs that are set to go into effect almost immediately. American consumers and businesses stand to pay a hefty price for that battle.