Published on: July 15, 2022
• From the Washington Post:
"A Tops Friendly Markets location in Buffalo where 10 people died in a racially-motivated massacre two months ago is set to reopen to the public on Friday, generating mixed feelings from the predominantly Black community the grocery store used to serve.
Tops executives held a moment of silence at the site on Thursday afternoon with local officials and others in attendance … The Tops store has undergone a hasty renovation since FBI agents and local law enforcement cleared up a sprawling crime scene there. The neighborhood is still reeling from the May 14 mass shooting, one of a trio this spring and summer that have stunned a gun violence-battered country.
"Tops was a desperately-needed market in what was considered a food desert on the city’s East Side. The grocery chain and local officials pledged to reopen the store as soon as possible, saying they recognized the need the area had for residents to have healthy food options.
"Opponents of the reopening say they would prefer to preserve the site as a memorial to those who were shot. A Change.org petition pushing to keep the Tops store closed had 77 signatures as of Thursday afternoon."
• From the Associated Press:
"The number of Americans applying for unemployment benefits last week hit its highest level in nearly eight months, but the total number of those collecting benefits fell.
"Applications for jobless aid for the week ending July 9 rose by 9,000 to 244,000, up from the previous week’s 235,000, the Labor Department reported Thursday. First-time applications generally reflect layoffs. Analysts had expected the number to remain flat from the previous week.
"The four-week average for claims, which evens out some of the week-to-week volatility, rose by 3,250 from the previous week, to 235,750. The total number of Americans collecting jobless benefits for the week ending July 2 fell by 41,000 from the previous week, to 1,331,000. That figure has hovered near 50-year lows for months."
• CNBC reports that Fresh Market has ended its planned initial public offering (IPO) in a filing with the Securities and Exchange Commission (SEC). No reason was given.
However, the story suggests that few explanations are needed: "After banner years in 2020 and 2021, including a record-setting level of activity last year, investors have shown no appetite for new issues amid this year’s market plunge. The tech-heavy Nasdaq Composite has dropped 28% so far in 2022, underperforming the S&P 500, which is off by 20%."