Business
- www.theverge.com Redbox’s owner files for bankruptcy after repeatedly missing payments and payroll
It owes money to Universal, Sony, Lionsgate, Warner Bros., and more.
cross-posted from: https://discuss.tchncs.de/post/18127978
> > informed employees of the filing late Friday [...] that it had filed for a debtor-in-possession loan — a way for companies that are reorganizing after filing for bankruptcy to secure additional working capital to meet payroll. [...] employees have been waiting for paychecks since June 21st [...] it’s not certain that the company will be able to secure such a loan. > > > Chicken Soup took on $325 million in debt when it acquired Redbox in 2022 and has since been sued over a dozen times over unpaid bills. > >
- www.middleeastmonitor.com Ex-PM Bennett urges Israelis not to leave as economy struggles
Former Israeli Prime Minister Naftali Bennett yesterday called on Israelis not to leave Israel, “which is going through its most difficult times since 1948”. “We are in the most difficult...
Former Israeli Prime Minister Naftali Bennett yesterday called on Israelis not to leave Israel, “which is going through its most difficult times since 1948”.
“We are in the most difficult period since the War of Independence: Change in the war, international boycotts, damage to deterrence, 120 Israelis in captivity, thousands of bereaved families, a deserted Galilee, thousands of evacuees, ministers who only care about themselves, loss of control over the economy and the deficit,” he wrote in a post on X after saying that he was “very sad” to hear a software engineer he knew was moving to Europe.
While there is no official data on the number of Israelis who have left since the beginning of the war on the Gaza Strip in October 2023, the Hebrew news website the Times of Israel said on Sunday that more than half a million Israelis left and did not return in the first six months of the war.
- www.theverge.com Uber will pay you $1,000 to ditch your car for five weeks
What does it take to stop driving?
- www.theguardian.com BP imposes hiring freeze and halts new offshore wind projects
New boss Murray Auchincloss reverses move away from fossil fuels, which had weighed on company’s share price
- www.theguardian.com Elon Musk has won $56bn pay package despite judge ruling it void, Tesla argues
Company says in court filing Musk is entitled to vast payout because shareholders voted in his favor earlier this month
- apnews.com Walgreens woes continue with earnings miss, guidance cut and plans to shutter more stores
Walgreens is finalizing a plan to fix its business that could result in the closure of hundreds of additional stores in the next three years.
- www.vox.com Is Nvidia stock overvalued? It depends on the future of AI.
It has been a wild few days for Nvidia stock. But the hype isn't dying down anytime soon.
-
McDonald's franchise forced to pay up after manager forced employees to deadname trans worker
www.lgbtqnation.com McDonald's franchise forced to pay up after manager forced employees to deadname trans worker - LGBTQ NationShe came to work one day dressed in women's clothes thinking she would be supported. She was wrong.
- www.cnbc.com Amazon plans to launch discount store in bid to fend off Temu and Shein
Amazon's storefront would directly compete with Temu and Shein, two emerging e-commerce sites with ties to China that have grown in popularity in the U.S.
- arstechnica.com Verizon screwup caused 911 outage in 6 states—carrier agrees to $1M fine
Verizon initially failed to remove a flawed update file that caused two outages.
- finance.yahoo.com Visa, Mastercard $30 billion swipe fee settlement rejected by US judge
NEW YORK (Reuters) -A U.S. judge on Tuesday rejected a $30 billion antitrust settlement in which Visa and Mastercard agreed to limit fees they charge merchants that accept their credit and debit cards. U.S. District Judge Margo Brodie in Brooklyn said she was not likely to grant final approval to t...
- gizmodo.com Feds Will Recommend Criminal Charges Against Boeing: Report
It's not clear whether Boeing's billions of dollars in government contracts would be in jeopardy if charges are brought.
-
Analysis Shows How Surging Stock Buybacks Bolster Case for Corporate Tax Hike
www.commondreams.org Analysis Shows How Surging Stock Buybacks Bolster Case for Corporate Tax Hike | Common DreamsCorporations using cash "to further enrich already affluent shareholders suggests that partially reversing the corporate rate cut, as President Biden has proposed, poses little risk to investment or the broader economy."
- www.vox.com Why do all the world’s best athletes do Subway commercials?
The glitzy campaign, featuring stars like Patrick Mahomes, Simone Biles, and Travis Kelce, is part of an aggressive effort to fix its deep-seated problems.
- www.nytimes.com ‘We’re Still Paying’: How Pets Became a Big Business
People have grown more attached to their pets — and more willing to spend money on them — turning animal medicine into a high-tech industry worth billions.
- www.independent.co.uk Vitamix issues recall on some of its blenders forcing owners to make repairs
The company is handing out do-it-yourself repair kits to impacted customers
- www.salon.com What is going on with Pizza Hut? Inside the legal battle with its biggest franchisee
The popular pizza chain is currently embroiled in legal drama with one of its largest franchisees
- www.theverge.com Redbox missed a multimillion-dollar payment it couldn’t afford to miss
Meanwhile, its cars are being repossessed.
-
Bowman, Sanders Propose 95% Tax on Corporations Exploiting Inflation to Jack Up Prices
www.commondreams.org Bowman, Sanders Propose 95% Tax on Corporations Exploiting Inflation to Jack Up Prices | Common Dreams"Enough is enough," said Sen. Bernie Sanders. "We cannot continue to allow large corporations to make obscene profits by price gouging Americans in virtually every sector of our economy."
- m.independent.ie Aer Lingus begins contacting up to 40,000 passengers to be affected by flight cancellations from next week
Aer Lingus is to begin today to contact passengers affected by pilots’ industrial action next week.
"It’s expected that up to 40,000 passengers will hit by flight cancellations. The airline is to get in touch and offer a refund or alternative booking.
The pilots are to begin an indefinite work-to-rule from next Wednesday after balloting for industrial action, which means they will not engage in overtime or out-of-hours duties."
- www.freep.com Rite Aid to close all Michigan stores, transfer prescriptions to Walgreens, workers say
Several workers at the pharmacy chain said Rite Aid plans to transfer prescriptions to Walgreens.
"Since filing for bankruptcy in October 2023, Rite Aid has been closing stores across the country and in Michigan.
Rite Aid has more than 180 stores in Michigan."
- www.independent.co.uk Trump’s media company suffers another huge slump as share price falls nearly 15%
This drop comes after the business lost $327m in their first quarter as a publicly-traded company
-
Lawsuit alleges Disney misled employees into relocating before canceling Florida project
www.salon.com Lawsuit alleges Disney misled employees into relocating before canceling Florida project | Salon.comAward-winning news and culture, features breaking news, in-depth reporting and criticism on politics, science, food and entertainment.
- www.vox.com The hollowness of corporate Pride
The troubling corporate pullback on Pride Month, briefly explained.
- www.theverge.com Netflix House will fill the voids left by dead department stores
Usually, Netflix is in your house, not the other way around.
-
Forever Chemicals Are Poisoning Your Insurance
grist.org Forever chemicals are poisoning your insuranceElizabeth Mitchell received a notice from her commercial property insurance company in April that set off alarm bells. Acadia Insurance, the insurer for the market, workspace, and wellness-center nonprofit she runs in West Cornwall, Connecticut, would no longer cover “bodily injury, property damage...
- www.engadget.com Amazon faces nearly $6 million in fines over California labor law violations
California has fined Amazon over infractions of state laws designed to protect warehouse workers.
- arstechnica.com Fisker is out of cash, not making cars, and filing for bankruptcy
No word on parts, warranty, or, most crucially, software updates in the future.
- www.independent.co.uk Dollar Tree left lead-tainted applesauce on store shelves for weeks after recall
Government officials say Dollar Tree stores failed to effectively recall lead-tainted applesauce pouches linked to illness in more than 500 US children
- www.mediaite.com Newsmax Lost $42 Million Last Year. Can an IPO Save The Network From Death By Dominion?
As Newsmax hurtles towards two major defamation trials over its coverage of the last presidential election, the conservative cable news network is pinning its hopes of survival on an audacious plan to go public.
- www.independent.co.uk McOver! McDonald’s ends AI program for drive-thrus but says it could return in future
Restaurant managers allegedly found the IBM-built technology too expensive and inaccurate to adequately replace human workers
- www.usatoday.com Wells Fargo rolled out a new credit card you can use to pay rent. Is it a money-loser?
A new Wells Fargo credit card program with a novel feature – you can use it to pay your rent – has not worked out quite as the bank had hoped.
- www.nytimes.com China’s Lust for Durian Is Creating Fortunes in Southeast Asia
Demand for the fruit, known for its rich taste and intense smell, has reshaped parts of Southeast Asia, where it has long been a staple.