The recent sentencing of Michelle Mack, the ringleader of a nationwide organized retail crime operation targeting major retailers like Ulta Beauty and Sephora, sheds light on the severity of the issue. Mack, based in Bonsall, California, was handed a delayed sentence of five years and four months by a San Diego County Superior Court judge.
Business
Ford Motor recently announced a significant shift in its production plans, opting to expand the production of its large Super Duty trucks at a Canadian plant instead of converting it into an all-electric vehicle hub. This decision comes with a hefty investment of about $3 billion, showcasing the company’s strategic shift in response to market
In a significant move for women’s sports, Willow Bay and Bob Iger have taken a controlling stake in the world’s most valuable women’s professional sports team, Angel City Football Club. The National Women’s Soccer League team announced on Wednesday that the couple had made an investment of an undisclosed amount, valuing the team at an
Morgan Stanley has reported second-quarter earnings that surpassed analysts’ estimates, with profit and revenue coming in stronger than expected. The bank reported earnings of $1.82 per share, compared to the $1.65 per share estimated by LSEG. Additionally, revenue reached $15.02 billion, exceeding the $14.3 billion estimate. This indicates a significant improvement from the year-earlier period,
Goldman Sachs recently announced that it exceeded profit and revenue expectations for the second quarter of the year. The company reported earnings of $8.62 per share, compared to the estimated $8.34 per share by LSEG. Additionally, revenue came in at $12.73 billion, surpassing the estimated $12.46 billion. The second-quarter profit for Goldman Sachs saw a
SpaceX’s Falcon 9 rocket recently faced a setback, causing the company to ground the vehicle pending an incident investigation. This inflight failure during the “Starlink Group 9-3” mission is a rare occurrence for SpaceX, which has maintained a remarkable record of success over the years. The incident involved the upper second stage of the rocket
JPMorgan Chase recently announced its second-quarter results, which surpassed analysts’ expectations. The company reported earnings of $4.26 per share, adjusted versus the estimated $4.19 per share. Additionally, the revenue came in at $50.99 billion, compared to the estimated $49.87 billion. The bank’s earnings saw a substantial 25% increase from the previous year to $18.15 billion,
The upcoming Paris Olympics have brought about contrasting reactions from Olympic athletes and potential tourists alike. While over 10,000 athletes are ecstatic about the opportunity to compete in Paris this summer, Delta Air Lines has reported a significant decrease in travel bookings to the city. CEO Ed Bastian revealed that travelers are opting for alternative
The collapse of fintech intermediary Synapse has left thousands of Americans with frozen savings accounts for the past two months. Amidst this chaos, there is now potential relief on the horizon as banks involved in the mess have made significant progress in piecing together account information for stranded customers. According to a source familiar with
The Federal Trade Commission is taking legal action against three of the largest health companies in the United States. The reason for this legal action is due to their practices as middlemen who negotiate prices for medications, specifically insulin. The agency argues that these practices result in inflated costs for patients, which ultimately harms consumers.