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Domino’s Pizza stock was sinking Thursday after the company lowered its retail sales outlook as macroeconomic pressures have hit its delivery business. Domino’s (ticker: DPZ) said Thursday it has continued to experience ongoing macroeconomic headwinds in the U.S., which led to “significant pressure on our U.S. delivery business in 2022.” The pizza maker now expects global retail sales growth of between 4% to 8% in the next two to three years. The company previously expected retail sales growth of between 6% and 10%. Already a member? Sign In Retail Earnings Indicate Unclear Outlook. Why the Fed Needs Consumers to Cut Back. March 1, 2023 6:11 am ET Order Reprints Print Article Getty Images Target’s stock managed to get a bit of a bump yesterday after the retailer reported stronger-than-expected fourth-quarter earnings. But the shine was starting to come off by the end of the day, at least in part because the guidance was weaker than anticipated. There’s a general confusion about what’s going on with consumers. Everyone has been expecting a slowdown. But spending has held up well when confronted with the fastest inflation in a decade, rising interest rates, and a miserable housing market .

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Ford filed for a patent for a system that would allow a car to cause "discomfort" to a driver late on payments, even by going as far as to lock the owner out and repossess itself. Ford wants to patent a system that would let cars repossess themselves if drivers miss payments. At first, the cars would lose the use of features like GPS, air conditioning, and the radio. If the owner still skips payments, the car could lock them out and drive itself to a repo agency or even a scrapyard. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Ford’s latest patent application shows a bizarre new way that cars could be repossessed in the future if their owners don’t make payments on time. The patent application , first reported by The Drive , was filed in August […]

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The news: Goldman Sachs is considering selling or restructuring part of its consumer business as it recovers from the expensive, loss-generating digital bank venture Marcus , per Business Insider. Mixed signals: CEO David Solomon admitted the bank’s attempt to attract main street consumers didn’t go as planned at the bank’s 2023 Investor Day. He hinted at a reorganization or sale of the bank’s consumer lending business, but other executives discussed a path to profitability for the unit. When asked for clarification, Solomon said the bank is “looking at all strategic options available" and “executing on what’s in front of us.” Strategic options: Goldman has a few courses of action it could take, according to industry analysts. Solomon didn’t specify which parts of the consumer business might be sold, but potential buyers could include major credit card companies and consumer lenders, according to an analyst at Fitch Ratings. The bank could also bring in a majority-controlled partner to run the unit, per a researcher at CFRA Research. Or, Goldman could push forward. Its Platform Solutions unit, which contains specialty lending unit GreenSky and the Apple and GM credit card partnerships, is forecast to break even by 2025, according to the […]

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Photographer: Stephanie Keith/Bloomberg Businesses that rely on Amazon.com Inc. to sell their goods are beginning to band together against the e-commerce retail behemoth. A trio of well-connected antitrust advocates on Thursday launched the Responsible Online Commerce Coalition, which represents a group of small businesses and large brands that will push for the US government to pare back Amazon’s power over the online shopping ecosystem. “We believe Amazon’s been given a pass to a large extent,” said Damien Geradin, one of the advocates spearheading the coalition. He’s a founding partner with Geradin Partners , an antitrust law firm that specializes in opposing large tech companies and other corporations. The group will help solidify political power among companies that have struggled due to Amazon’s actions, proponents say. Amanda Lewis, a coalition co-founder and former staffer with the House Judiciary Committee ’s antitrust panel, said that the Responsible Online Commerce Coalition will work to bring its stories directly to policy makers overseeing the tech companies. “I found that policy makers were moved much more by a small business owner telling their story than five touches from an Amazon lobbyist,” said Lewis, who helped to lead the House Judiciary Committee’s work on Amazon […]

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March 2, 2023 These State Small Business Credit Initiative funds are awarded to New Jersey, Texas, and Washington to support local small business financing and investment programs WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of three additional state plans for up to $890.7 million in funding under the State Small Business Credit Initiative (SSBCI) in President Biden’s American Rescue Plan: New Jersey, Texas, and Washington. Treasury has now announced the approval of state and territory plans corresponding to over $8 billion in SSBCI funding to support small business and entrepreneurship and expand access to capital. “Advancing equity has been a key priority of the Biden-Harris Administration since day one, including through its implementation of American Rescue Plan programs. This includes efforts to support small business growth and expand access to capital in communities across the country,” said Deputy Secretary Wally Adeyemo. “The State Small Business Credit Initiative is helping to unlock the potential of entrepreneurs in underserved communities across the nation who may have otherwise never had the support needed to pursue their business ideas and ambitions.” The American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly […]

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(r. nial bradshaw / CC BY 2.0 via MGN) PINEVILLE, La. (KALB) – Two suspects have been arrested following a burglary at a business on Hickory Hill Road in Pineville. According to the Rapides Parish Sheriff’s Office, the victims claimed they arrived in the morning at the business on February 13 and discovered a burglary had occurred. Video footage showed four suspects entering the business, two of which had firearms. On February 14, RPSO deputies made a traffic stop on a black Nissan Versa for an improper display of a license plate. The vehicle was associated with the burglary of the business the day before. The driver, Cheyenne Bernice Tyler, 20, of Pineville, was in possession of illegal narcotics and was taken into custody. There were also items in the vehicle that were consistent with the reported items taken in the burglary. Nearly all of the stolen property from the business was recovered. Tyler was charged with possession CDS II < two grams, possession of drug paraphernalia, illegal carrying of a firearm with drugs, two counts contributing to the delinquency of juveniles and criminal conspiracy. Bond was set at $11,000 and Tyler was released on February 17. The other […]

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Nearly 70 tribal leaders from across the state attended a workforce and economic development Tribal Summit on Feb. 28 on the Stillwater campus. Media Contact: Terry Tush | Director, Marketing and Communications | 405-744-2703 | terry.tush@okstate.edu Oklahoma State University’s Spears School of Business and the Oklahoma Indian Gaming Association hosted nearly 70 tribal leaders for a workforce and economic development Tribal Summit on Feb. 28 on the Stillwater campus. The summit’s purpose was for tribal leaders and tribal casino leaders to discuss how Spears Business is able to provide assistance in workforce development and enhancing the state’s economy. There were 17 tribes represented and 29 different entities from 26 cities in Oklahoma. Oklahoma Indian Gaming Association chairman Matt Morgan (shown in the photo on the right) helped recruit tribal leaders to attend the summit, and he was impressed with what was accomplished in one day. Oklahoma Indian Gaming Association chairman Matt Morgan speaks during the workforce and economic development Tribal Summit. “We believe the Spears School can assist our industry in providing degrees, credit and non-credit certificates, leadership programming, marketing and data analytics assistance, hotel and service quality education, finance and accounting assistance among other topic areas that will […]

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Silvergate Capital headquarters in La Jolla. San Diego’s crypto-friendly Silvergate Bank has disclosed that its financial health has taken a turn for the worse amid continued troubles plaguing the digital currency industry — raising questions about its ability to remain a going concern. Silvergate, which tailored its business toward providing deposit accounts, fund transfers, a real-time payments network and other banking infrastructure to the cryptocurrency industry, revealed that it has suffered additional losses in January and February from sales of debt securities that backstopped its crypto-related deposits. This story is for subscribers We offer subscribers exclusive access to our best journalism. Thank you for your support. Those losses will put pressure on the FDIC-insured bank’s regulatory capital reserves and “could result in the company and the bank being less than well-capitalized,” said Silvergate in a filing with the U.S. Securities and Exchange Commission on Wednesday. Under these conditions, Silvergate said it is evaluating “the impact that these subsequent events have on its ability to continue as a going concern for the twelve months following the issuance of its financial statements.” Silvergate said that it likely would be unable to file its annual report with the SEC by the March […]

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WhatsApp, the messaging service owned by Meta Platforms Inc. , will soon allow users in Brazil to make payments to businesses through the app. “The Central Bank just authorized the launch of our new payment feature so people will be able to pay small businesses right on WhatsApp,” Meta CEO Mark Zuckerberg posted Thursday on Instagram. “Excited to roll this out soon.” Regulators had previously halted the feature. Zuckerberg has said that WhatsApp payments could be a big business for Meta, especially in countries like Brazil and India where the app has dominant market share.

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Briefly The Mid-America Business Conditions Index, which is a barometer of economic health, shown in blue line. Red trend line is U.S. (Courtesy of Creighton University) OMAHA — The latest business conditions survey led by Creighton University signals growing economic optimism among Nebraska manufacturing managers. February results for the Husker business climate come from a broader nine-state Mid-America Business Conditions Index, which is a barometer of economic health based on monthly surveys of manufacturing supply managers analyzed by Creighton University’s Economic Forecasting Group. For Nebraska specifically, the state index reading climbed above neutral growth for a second month in a row. That turn follows four consecutive months of readings below the neutral-growth threshold. Using a range of zero to 100, a reading of 50 represents neutral growth. Recent rebound Similar to Nebraska, the regional index also reflected a more positive outlook, relative to previous months. The overall business index that gauges economic health from Minnesota to Arkansas rebounded in February to its highest level since July of last year. Creighton economist Ernie Goss, who heads the forecasting group, said he was “shocked” about the regional reading, expecting a downturn. “While it’s too early to tell if this is an […]

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