Rite Aid chain reportedly could sell up to 500 stores in bankruptcy plan

Rite Aid, the third-largest U.S. drugstore chain, is reportedly preparing to seek bankruptcy protection and could close 400 to 500 stores. The Wall Street Journal reported Friday that Rite Aid was negotiating with creditors about a plan that would have it file for Chapter 11 bankruptcy protection and close about a quarter of its 2,100 locations. […]

UAW announces new strike locations as walkout enters second week

The ongoing United Auto Workers strike is expanding. UAW President Shawn Fain called for union members to strike at noon ET Friday at 38 General Motors and Stellantis facilities across 20 states. He said the strike call covers all of GM and Stellantis’ parts distribution facilities. The strike call notably excludes Ford, the third member […]

SEC charges ‘Cash Flow King’ podcaster in $11 million Ponzi scheme

The U.S. Securities and Exchange Commission on Monday charged podcaster Matthew Motil in connection with an $11 million Ponzi scheme that allegedly defrauded more than 50 people. The agency said in a press release that Motil, host of ‘The Cash Flow King’ podcast, encouraged investors to buy promissory notes that he said were backed by […]

48,000 mattresses sold at Costco may have been exposed to mold, regulators say

Novaform ComfortGrande and DreamAway mattresses sold exclusively at Costco are being recalled, with the U.S. Consumer Product Safety Commission saying they may have been exposed to mold during manufacturing. The CPSC said that around 48,000 mattresses are being recalled by their manufacturer, FXI. The recall covers Novaform ComfortGrande 14-inch and Novaform DreamAway 8-inch mattresses, which […]