multi-billion

Explainer-‘Organized’ retail crime: a ‘multi-billion dollar problem’

Reuters0

By Siddharth Cavale NEW YORK (Reuters) – Top executives and major law enforcement agencies in the U.S. are fretting about organized crime rings targeting retailers’ stores and trucks for goods they can resell online. Gangs of thieves coordinate to steal many millions of dollars of merchandise – often perfume, cosmetics, toiletries or power drills. They then resell the goods on the black market, generally at online auction sites, flea markets, to other retailers or even to third-party merchants on major e-commerce marketplaces such as Amazon.com and Walmart.com. Unlike amateur theft or spontaneous shoplifting by people with little to no pre-meditation,

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Saudi Arabia Inks Multi-Billion Dollar Deal With China As Kingdom Seeks To ‘Collaborate’ With CCP

The Daily Caller0

Saudi Arabia Inks Multi-Billion Dollar Deal With China As Kingdom Seeks To ‘Collaborate’ With CCP Philip Lenczycki on June 12, 2023 The Saudi Arabian government announced its intention to “collaborate” with the People’s Republic of China and inked a multi-billion dollar deal during the first day of the Arab-China Business Conference on Sunday, according to multiple reports. Saudi Arabia wishes to avoid a “zero-sum game” and does not want to “compete” with its largest trading partner, China, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said during the 10th Arab-China Business Conference in Riyadh, according to CNBC. Underscoring the nations’

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Danske Bank Pleads Guilty To Fraud On U.S. Banks In Multi-Billion Dollar Scheme To Access The U.S. Financial System

DOJ Press0

Damian Williams, the United States Attorney for the Southern District of New York, Lisa O. Monaco, the Deputy Attorney General of the United States, Kenneth A. Polite Jr., the Assistant Attorney General of the Justice Department’s Criminal Division, and Michael J. Driscoll, the Assistant Director in Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced that Danske Bank A/S (“Danske Bank”), a global financial institution headquartered in Denmark, pled guilty today and agreed to forfeit $2 billion to resolve the United States’ investigation into Danske Bank’s fraud on U.S. banks.   According to court documents,

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Dallas-Based Digital Agency, 214EATS, Acquired by FOHBOH to Tackle Multi-Billion Dollar ResTech Industry

Jessica Woods0

FOHBOH Executive Team from left, Drew Pickard, Terrence Gordon, Michael Atkinson FOHBOH gears up to assist the hard-hit restaurant industry by launching a proprietary digital marketing and ResTech consulting platform to elevate forward-thinking restaurant organizations above the rapidly changing landscape. Dallas, TX  (-)  FOHBOH, the world’s first digital community for restaurant operators and executives, announces the acquisition of 214EATS, a Dallas-based, full- service digital marketing agency for restaurants. This appropriately timed union positions FOHBOH (industry slang for “Front of House, Back of House”) as a first-in- kind, intelligence-based digital marketing, and operational consulting agency for the embattled hospitality industry. “The

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Fransmart Hires for Multi-Billion Dollar Portfolio of Category-Leading Franchise Brands

Jessica Woods0

Shannon Keller Leading franchise development company fuels consistent growth with its proven formula of turning emerging franchise concepts into international success stories Scottsdale, AZ  (-)  Solidifying its position as the leader in franchise development with a keen focus on growth and innovation, Fransmart has announced plans for a multi-billion dollar portfolio of category-leading franchise brands by the end of 2030.  To reach this goal, Fransmart will continue to identify and invest in concepts ripe for national and international expansion, while accelerating growth of its legacy brands.  Additionally, the company is expanding its best-in-class leadership team to support each of its

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Green gold: Mexican avocados, beloved in U.S., fuel multi-billion dollar market

Reuters0

By Cassandra Garrison MEXICO CITY (Reuters) – Hass avocado imports from Mexico, the main ingredient of guacamole – a favorite Super Bowl snack – are now worth $4 billion, up from about $2.5 billion two years ago, according to a new study by Texas A&M University. A person in the United States now eats an average of more than nine pounds (4 kg) of Mexican avocados a year, the university researchers found. That’s up from just over a 1 pound (450 grams) in 1990. The report, which was funded by MHAIA, the Mexican Hass Avocado Importer Association, was seen by

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Yet Another Automaker Picks A Red State For Its Multi-Billion Dollar EV Factory

The Daily Caller0

Yet Another Automaker Picks A Red State For Its Multi-Billion Dollar EV Factory John Hugh DeMastri on August 29, 2022 Honda and battery maker LG announced plans for a $4.4 billion electric vehicle (EV) facility Monday, likely to be located in the Republican-run state of Ohio, the latest such facility built in a Republican-run state. Honda joins competitors, such as Hyundai and Ford, who are constructing new EV and battery facilities predominantly in Republican-run states and congressional districts, in an effort to ensure their EVs qualify for tax credits under new restrictions under the Inflation Reduction Act that require EVs to be assembled in the

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Explainer-Malaysia’s ex-PM Najib and the multi-billion dollar 1MDB scandal

Reuters0

KUALA LUMPUR (Reuters) – Malaysia’s top court ordered former prime minister Najib Razak to begin a 12-year prison sentence on Tuesday after rejecting his appeal against a conviction on charges related to a multi-billion dollar graft scandal at state fund 1Malaysia Development Berhad (1MDB). The following are details of the scandal and cases brought against him: WHAT IS 1MDB? 1MDB was a sovereign fund set up in 2009 with the help of Malaysian financier Jho Low to promote economic development. Najib, who was prime minister from 2009 to 2018, co-founded 1MDB and chaired its advisory board until 2016. HOW DID

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Green Stocks Surge After Dems Agree On Multi-Billion Dollar Spending Package

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Green Stocks Surge After Dems Agree On Multi-Billion Dollar Spending Package Jack McEvoy on July 29, 2022 Green energy shares spiked on Thursday after Sen. Joe Manchin of West Virginia agreed to back a multi-billion dollar Democratic spending bill for renewable energy and climate change prevention, according to the Wall Street Journal. Many green energy exchange-traded funds (ETFs), investment funds that track sectors and commodities, are rising as a result of the recent Democratic agreement on a spending bill that will allocate $370 billion toward green energy projects, the WSJ reported. Stock prices of iShares Global Clean Energy exchange-traded fund and NextEra

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Drug Manufacturer Agrees To Multi-Billion Dollar Settlement With Victims Of Opioid Epidemic

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Drug Manufacturer Agrees To Multi-Billion Dollar Settlement With Victims Of Opioid Epidemic John Hugh DeMastri on July 27, 2022 Teva Pharmaceuticals, one of the world’s largest generic drug manufacturer, has reached an agreement in principle to settle all outstanding lawsuits over their alleged involvement in the national opioid crisis for $4.35 billion, according to a Teva press release. This payout includes a commitment to supply $1.2 billion worth of Narcan, a drug that reverses opioid overdose, over the next ten years, the release states. The $4.25 billion will be distributed over the next 13 years, with $100 million being earmarked

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Mexican President’s ‘Mayan Train’ multi-billion dollar project dealt new legal blow

Reuters0

MEXICO CITY – A Mexican Court ruling that indefinitely suspended construction of President Andres Manuel Lopez Obrador’s flagship “Mayan Train” rail project over environmental concerns was welcomed by activists on Monday. The 1,470-km (910-mile) railway project, which has been trumpeted by Lopez Obrador as a cornerstone of his plans to develop the country’s poorer southern states, aims to link tourist hot spots and spur development on the Yucatan Peninsula. The court ruling states that Mexico’s National Tourism Promotion Fund’s (Fonatur) plans for the railway do “not comply with the proceedings of the environmental impact evaluation,” according to a statement from

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Three Portfolio Managers And Allianz Global Investors U.S. Charged In Connection With Multi-Billion Dollar Fraud Scheme

DOJ Press0

Allianz Global Investors U.S. LLC Also Charged With Securities Fraud, Agrees to Plead Guilty Damian Williams, the United States Attorney for the Southern District of New York, Lisa O. Monaco, the Deputy Attorney General of the United States, and Daniel B. Brubaker, Inspector-in-Charge of the New York Office of the U.S. Postal Inspection Service (“USPIS”), announced today the unsealing of an indictment charging GREGOIRE TOURNANT, the Chief Investment Officer and co-lead Portfolio Manager for a series of private investment funds managed by Allianz Global Investors U.S. LLC (“AGI”), with conspiracy, securities fraud, investment adviser fraud, and obstruction of justice offenses

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Leader of the Violent “Clan del Golfo” Multi-Billion Dollar Drug Trafficking Organization Extradited from Colombia to Face Federal Indictment

DOJ Press0

Dairo Antonio Úsuga David, known by various aliases including “Otoniel,” was extradited this morning to the United States from Colombia to face charges in the Eastern District of New York of leading a continuing criminal enterprise and participating in an international cocaine manufacturing and distribution conspiracy for his role as the leader of the paramilitary, multibillion dollar drug organization known as the “Clan del Golfo” (CDG).  On October 23, 2021, Úsuga David was arrested in the jungles of Colombia following an extensive capture operation by Colombian military and law enforcement personnel.  The defendant is scheduled to be arraigned this afternoon

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Four Charged In Connection With Multi-Billion Dollar Collapse Of Archegos Capital Management

DOJ Press0

Damian Williams, the United States Attorney for the Southern District of New York, Deputy United States Attorney General Lisa O. Monaco, and Michael J. Driscoll, Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of an indictment charging SUNG KOOK (BILL) HWANG, the founder and head of a private investment firm known as Archegos, and PATRICK HALLIGAN, Archegos’s Chief Financial Officer, with racketeering conspiracy, securities fraud, and wire fraud offenses in connection with interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos’s portfolio and to defraud

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Woke Inc Is A Multi-Billion Dollar Business In America, And It Has Some Dems Scared

The Daily Caller0

An outpouring of grants to activist groups promoting race-based ideology is causing problems for some Democrats by highlighting the most unpopular beliefs of party members, according to an op-ed published in The New York Times. Charitable support for “racial equity” projects skyrocketed after the death of George Floyd in June 2020. These projects received $3.3 billion from 2011 to 2019, then $12.7 billion and $11.6 billion in 2020 and 2021, respectively, according to the NYT op-ed. Racial equity-related grants support initiates ranging from support for historically black colleges to campaigns to dismantle municipal police forces, according to the piece. These grants

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