Michelle Mack, the leader of a nationwide organized retail crime operation targeting Ulta Beauty and other major retailers, has been sentenced to more than five years in a California state prison. This sentence comes after a plea deal where her husband, Kenneth, received the same sentence but will be released after one year. The couple
Business
In a surprising turn of events, Ford Motor Company has announced a shift in its production plans for its Super Duty trucks. The company will be expanding production of these large trucks to a Canadian plant, instead of converting it into an all-electric vehicle hub as previously planned. This decision comes amidst a $3 billion
In a major development for women’s sports, Willow Bay and Bob Iger have taken a controlling stake in Angel City Football Club, the most valuable women’s professional sports team in the world. This investment, which remains undisclosed, has valued the team at an impressive $250 million. Additionally, Bay and Iger have committed to investing an
Morgan Stanley recently reported its second-quarter earnings, with profit and revenue exceeding analysts’ estimates. The bank reported earnings of $1.82 per share, surpassing the $1.65 per share estimate, and revenue of $15.02 billion, higher than the estimated $14.3 billion. This demonstrates a 41% increase in profit compared to the previous year, reaching $3.08 billion, while
Goldman Sachs reported a significant increase in profit and revenue for the second quarter, surpassing analysts’ expectations. The company’s earnings per share came in at $8.62, higher than the $8.34 estimated by LSEG. Revenue also exceeded expectations, reaching $12.73 billion compared to the $12.46 billion estimate. One of the key factors driving Goldman Sachs’ strong
SpaceX’s Falcon 9 rocket, known for its reliability and success rate, recently faced a rare misfire during the “Starlink Group 9-3” mission. The incident, which led to the destruction of the rocket’s upper second stage, has grounded Falcon 9 pending an investigation. This unexpected failure has halted SpaceX’s rapid launch schedule, causing delays in upcoming
JPMorgan Chase recently released its second-quarter financial results, surpassing analysts’ expectations in both profit and revenue. The company reported earnings of $4.26 per share, adjusted, compared to the estimated $4.19 per share. Additionally, revenue came in at $50.99 billion, beating the $49.87 billion estimate. These strong figures were driven by a 52% surge in investment
The anticipation of the upcoming Olympic Games in Paris this summer has brought different reactions from various sectors. While more than 10,000 athletes are thrilled to participate in the event, Delta Air Lines has reported a significant decrease in travel demand to the city. CEO Ed Bastian expressed that travelers are choosing alternative destinations over
In recent developments, there seems to be a ray of hope for the thousands of Americans who have been struggling with locked funds in frozen fintech accounts. Banks involved in the aftermath of the collapse of fintech intermediary Synapse have reportedly made significant progress in piecing together account information for stranded customers. This progress could
The Federal Trade Commission is gearing up to take legal action against three major U.S. health companies for their practices as middlemen in negotiating medication prices, particularly insulin. According to a source familiar with the matter, the FTC believes that these companies are significantly inflating costs for patients. The targeted entities include UnitedHealth Group’s Optum