Behind the Celsius Sales Pitch Was a Crypto Firm Built on Risk

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.

 
FedEx's New Boss Faces Strategic Choice as Package Volumes Fall

Investors want to see more efficient operations, while ground-delivery contractors are pressing for financial help.

 
H&M Profit Tops Forecasts but June Sales Weaken

H&M posted a better-than-expected second-quarter net profit, with earnings boosted by well-received collections and lower markdowns but cautioned that sales in June were likely to fall by 6%, impacted by the war in Ukraine.

 
Tesla Lays Off Some Staff in Closing California Office

The electric-vehicle maker said it was closing a San Mateo, Calif., office and letting go about 200 people there. The company is pursuing cost cuts under the pressure of inflation and supply-chain disruptions.

 
FTC Accuses Walmart of Letting Scammers Use Its Money-Transfer Services

The Federal Trade Commission sued Walmart on Tuesday alleging the retailer allowed its money-transfer services to facilitate fraud. Walmart called the suit "factually misguided."

 
Beyond Meat to Offer Sliced-Steak Product, CEO Ethan Brown Says

The maker of plant-based meat alternatives is trying to overcome uncertainty regarding the category's growth prospects.

 
Delta Travelers Can Change Flights for Free Over Fourth of July

The carrier is offering more flexibility as it expects some challenges despite efforts to reset operations.

 
Grubhub CEO Says Sale Isn't Imminent, as Owner Seeks a Partner

Adam DeWitt defended a free-lunch promotion in New York City, even though the event's orders overwhelmed some restaurants.

 
NIO Shares Falls as Chinese EV Maker Denies Short-Seller Report

NIO Inc.'s shares in Hong Kong extended declines in afternoon trading after the company denied accounting allegations in a report by short seller Grizzly Research.

 
Tepco Shares Surge as Japan's Heat Wave Stretches Power Grid

Shares of Tokyo Electric Power Co. Holdings Inc. surged Wednesday as a heat wave in Japan boosted power demand in the capital.

(END) Dow Jones Newswires

June 29, 2022 07:15 ET (11:15 GMT)

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