Money

Food delivery service hikes prices to cover minimum wage rise

Published

2 years ago

January 18, 2024

DoorDash is planning to raise delivery fees for both New York City customers and restaurants in response to recent minimum wage increases for delivery workers.

Approximately one month after legislation mandated higher hourly minimum wages for food delivery workers, requiring them to earn at least $17.96 per hour, DoorDash has informed restaurants that they will face higher commission rates starting this Wednesday.

The news was delivered via a memo obtained by the New York Post.

Labour costs

The memo also includes a warning that customer fees will rise due to the “extreme minimum pay rate” to help offset the increased labour costs.

Eli Scheinholtz, a DoorDash spokesman, confirmed the company’s intention to introduce fees when the new minimum pay rate was implemented.

Google facing lawsuit from Florida restaurant chain

However, he declined to specify the extent of the impending fee hikes, stating that higher consumer fees would be rolled out “in the coming weeks.”

According to the memo sent to restaurants, they can expect to pay a maximum commission rate of 23% for delivery orders and 8% for pickup orders.

This aligns with the maximum allowed under New York City’s fee cap legislation, which was hotly contested and implemented during the pandemic.

Money

Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Published

2 days ago

November 27, 2025

Harvey Vargas

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews

Money

Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

Published

3 days ago

November 26, 2025

Harvey Vargas

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.

The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.

Money

Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Published

4 days ago

November 25, 2025

Harvey Vargas

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar