World and Business

McKinsey & Company, one of the world’s most prestigious consulting firms, has agreed to a $650 million settlement with the U.S. Department of Justice (DOJ) for its role in boosting the sales of OxyContin, Purdue Pharma’s controversial opioid. According to court documents filed on Friday in Virginia, this settlement allows McKinsey to avoid criminal prosecution […]

The Walton family, heirs to the Walmart empire, now hold a staggering net worth of $432 billion, according to Bloomberg. This figure makes them the wealthiest family in the world, rivaling the fortunes of tech moguls like Elon Musk, whose net worth is estimated at $442 billion. Unlike Musk, whose wealth stems from his entrepreneurial

Boeing has announced a significant $1 billion investment to expand its manufacturing facilities in South Carolina, a move aimed at ramping up production of its flagship 787 Dreamliner aircraft. This expansion comes as the aerospace giant seeks to address ongoing production issues and capitalize on growing demand for its aircraft. Expanding Dreamliner Production Capacity The

Cantor Fitzgerald, a prominent financial services firm, has agreed to pay a $6.75 million fine to the Securities and Exchange Commission (SEC) to settle allegations of misleading disclosures. The SEC claims that the company caused two special-purpose acquisition companies (SPACs) under its control to make false or incomplete statements to investors ahead of their initial

Costco Wholesale Corporation (COST) has delivered yet another stellar performance, reporting better-than-expected earnings for the most recent quarter. The results, driven by increased membership fees, solid revenue growth, and a surge in e-commerce sales, highlight the retailer’s resilience and adaptability in a competitive landscape. As Costco’s shares have climbed nearly 50% in 2023, far outpacing

In a monumental move, Blackstone, one of the world’s leading investment firms, announced on Thursday its acquisition of the iconic Tokyo Garden Terrace Kioicho office and hotel complex for $2.6 billion. This deal marks the largest real estate investment by a foreign investor in Japan and underscores the global appeal of Japan’s commercial property market.

Valley National Bancorp has revealed that Thomas A. Iadanza, its president and a driving force behind the bank’s regional prominence, will retire on June 30, 2025. This announcement marks the end of a remarkable 45-year career in banking, including 13 transformative years at Valley. A Legacy of Leadership Iadanza joined Valley National Bancorp in 2012

Macy’s has concluded an internal investigation into a shocking accounting scandal where an employee intentionally concealed over $150 million in expenses over nearly three years. The discovery has rattled the struggling retailer, delaying financial reports, impacting stock performance, and forcing the company to reassess its internal controls to prevent future mishaps. How $150 Million The