CBS News

Three Mexican suspects were arrested with two South Africans when elite police units raided a multimillion-dollar crystal meth lab hidden in a remote farm north of Johannesburg, police said Tuesday.The owner of the farm near Groblersdal, about 125 miles from Johannesburg, was among four men arrested on Friday, police said.A third Mexican was picked up on Monday, the spokeswoman for the elite Hawks unit told AFP."The drugs were obviously intended for local and international sale," Brigadier Thandi Mbambo told AFP, adding that the manufacturing facility was operating "at a large scale."Authorities also seized large quantities of chemicals used to manufacture...

Multimillion-dollar crystal meth lab found hidden in remote farm

MILAN (Reuters) - Stellantis (NYSE:STLA) is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe underperforming brands in its sprawling portfolio, its chief executive Carlos Tavares said on Thursday. The warning for lossmaking brands is a turnaround for Tavares, who...

Stellantis ready to axe brands and fix US problems, CEO says

Shares of Dexcom tumbled in extended trading Thursday after the company reported second-quarter earnings that missed estimates and slashed its full-year revenue guidance. The maker of glucose monitors said it now expects organic revenue growth of 11% to 13%, down from its projection in April of 17% to 21%. The...

Dexcom Stock Plummets on Earnings Miss, Guidance Cut

California State

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The HD Post

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

Iowa State

Moline, IL

The Associated Press

Deere & Co. is laying off nearly 600 workers as the farm equipment manufacturer deals with declining demand. Deere confirmed Monday that the production positions being cut are concentrated at two factories in Iowa and one at its home base in Moline, Illinois, where 280 employees will be laid off effective Aug. 30. A combined 310 workers will be let go at the Iowa locations.

Struggling with falling demand for farm equipment, Deere & Co. announces nearly 600 layoffs

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Markets Insider

An AI-driven stock market bubble could burst early if Trump wins the 2024 election, according to Capital Economics. Trump's proposed policies on tariffs and immigration could slow economic growth and spark higher inflation, the firm said. Higher inflation would restrict the Federal Reserve's ability to cut interest rates. The ongoing...

Trump's promise of tariffs and deportations could pop the stock market bubble if he wins a 2nd term, Capital Economics says

Colorado State

(Reuters) -The proposed $25 billion merger of Kroger (NYSE:KR) and Albertsons (NYSE:ACI) has been halted until the Colorado District Court rules on a lawsuit filed to block the deal that is expected to push up grocery prices, State Attorney General Phil Weiser said on Thursday. "The trial is set to...

Kroger, Albertsons $25 billion deal halted until Colorado trial in September

Now that Red Lobster is in the process of getting a new owner, the chain’s post-bankruptcy financial situation is becoming clearer. The sale, which will likely be approved Sept. 5 during a hearing on the matter, will transfer ownership of the restaurant chain to an entity formed by existing lenders, including Fortress Credit Corp.

Red Lobster expects positive net income by fiscal 2026

Executives at global appliance manufacturer Whirlpool Inc. remain mum on whether the company would consider an acquisition bid from German industrial conglomerate Robert Bosch Gmbh. In a call with brokerage analysts this morning to discuss second quarter earnings, Whirlpool Chairman and CEO Marc Bitzer declined when asked to discuss a...

Bosch appears to drop bid to acquire Whirlpool — for now

Universal Music Group (AS:UMG), in which Bill Ackman’s Perishing Square Capital holds a significant stake, saw its shares crash more than 26% Thursday after releasing quarterly results. The company reported higher-than-expected second-quarter sales on Wednesday, however, this was offset by a slowdown in the subscription and streaming segment. UMG...

Bill Ackman's top stock UMG crashes 26% after results, Citi downgrades

Kentucky State

Northern Kentucky Tribune

Kentucky’s medical cannabis program has taken significant steps toward ensuring those with qualifying conditions have access to medical cannabis as soon as possible, said Gov. Andy Beshear this week.

State to open licensing applications for medical cannabis businesses beginning July 1

Tesla (NASDAQ:TSLA) has posted its SEC Form 10-Q for Q2 2024 on its Investor Relations website. The document, which provides a comprehensive unaudited report of Tesla’s financial performance during the second quarter, provided some important context on some of the electric vehicle maker’s results. These include the $622 million restructuring costs that were listed by the EV maker in its Q2 2024 Update Letter.

Tesla spent $583 million in employee termination expenses in Q2 2024

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NewsByJoshua

Redbox, the iconic movie rental company with over 34,000 locations nationwide, has announced the closure of its operations following its parent company's filing for Chapter 11 bankruptcy. This decision has left many of its loyal users saddened, marking the end of an era for physical media enthusiasts.

A rental company with 34,000 locations has closed its doors

Royal Caribbean Group continued its trend of reporting strong quarterly earnings with its second quarter performance. Thanks to strong demand and favorable timing of expenses, the company "above expectations" results for the second quarter. Demand for cruises remains a constant for the company, which cited stronger pricing on close-in demand...

"We are just getting started" Royal Caribbean reports $4.1 billion in revenue in second quarter

(Reuters) -A raging wildfire has devastated the western Canadian tourist town of Jasper and firefighters were working on Thursday to save as many buildings as possible, authorities said. Jasper is in the middle of Jasper National Park, in the province of Alberta. The town and the park, which draw more...

Devastating wildfire burns down part of western Canadian town

On Friday, Deckers Outdoor Corporation (NYSE:DECK) saw its price target increased by TD Cowen to $1,055, up from the previous target of $1,039. The firm continues to endorse the stock with a Buy rating. TD Cowen's endorsement comes on the back of Deckers' sustained innovation and direct-to-consumer (DTC) growth, which...

Deckers shares get boost from raised price target, still a Buy

Reuters

(Reuters) -Chipotle Mexican Grill surpassed Wall Street estimates for quarterly sales and profit on Wednesday as demand for its rice bowls and burritos held up even as prices increased.

Chipotle tops quarterly estimates, warns of margin pressure going forward

Approval of the sale is scheduled for July 29. Red Lobster, which filed bankruptcy in May, is scheduled to be sold to Fortress Investment Group. Fortress is using a credit bid to acquire the seafood chain. That means instead of a traditional sale, the private equity firm will use the debt it’s owed as a form of currency to gain control of Red Lobster’s assets.

Red Lobster to be Sold to Fortress Investment Group

(Reuters) -Bombardier beat analysts' estimates for second-quarter results on Thursday, helped by higher plane deliveries and stronger sales in the Canadian business jet maker's services business.

Bombardier's second-quarter results beat on higher jet deliveries

NewsBreak

Polaris secures $400 million incremental term loan

Today, Polaris (NYSE:PII) Inc. announced it has entered into an agreement to amend its existing credit facility, securing a new $400 million incremental term loan. The...

Polaris secures $400 million incremental term loan

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