Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
When an unsolicited six pack of Ted Drewes Frozen Custard arrived at Shake Shack founder Danny Meyer's door four years ago, he became nostalgic about his hometown.
The package had been sent by Goldbelly, an online marketplace for regional and artisanal foods.
"I had absolutely no idea you could even get Ted Drewes other than going home to St. Louis," Meyer told CNBC in an interview from New York. "I was smitten."
After checking out Goldbelly's site, Meyer said, he found that he could order from his favorite barbecue places halfway across the country or buy muffaletta from a spot in New Orleans with just a click.
This affection for Goldbelly persuaded Meyer to lead a $20 million round of Series B funding for the company through Enlightened Hospitality. That group is a $200 million seed fund Meyer helped found a year ago through his Union Square Hospitality Group.
Enlightened Hospitality makes $10 million to $20 million investments in what it calls innovative growth companies "that are category leaders and share USHG's 'Enlightened Hospitality' strategy and mindset of prioritizing employees among all other stakeholders," it said at the time. The idea is that happier employees make for happier customers and better investor returns.
It has also invested in Salt & Straw, a West Coast-based ice cream shop, Joe's Coffee Company, a New York-based coffee chain, and Resy, an e-commerce reservation platform.
Goldbelly (formerly Goldbely) announced Tuesday that the $20 million it has raised in this round will go toward scaling its operations and marketing. Previous investors Intel Capital, 500 Startups and 645 Ventures also kicked in more capital. The Wall Street Journal reported that Enlightened Hospitality took a $15 million stake in the company.
Founded by Joe Ariel, Goldbelly was created not to bring the fastest or cheapest meal to your door, but the most authentic. It's like Seamless Web food delivery on steroids. Customers can order a local Chicago deep dish pizza or a Primanti Brothers sandwich from Pittsburgh and have it sent almost any where across the country overnight.
Meyer sees Goldbelly as a place for customers to relive their favorite food memories and to share them with others, whether it is a favorite college ice cream spot in Pennsylvania, or specialty crab cakes you can only get in Maryland.
"This is the future," he said. "The future is the past when it comes to food."