#financial-losses

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#cybercrime

Ohio state auditor issued guidance on email scams in April; employees might be liable if they fall for a scam

Public officials must adhere to auditor's guidance to avoid accountability in financial losses due to scams.
The Ohio Auditor emphasizes the need for proactive measures against rising cybercrime threats.

Most Wanted' Man Pleads Guilty in Cyberattack That Upended Vermont Hospital

Ukrainian man pleaded guilty to cyberattack schemes causing millions in losses and hospital disruption.
Mr. Penchukov led an organization infecting computers with malicious software for years, causing significant financial losses.

Ohio state auditor issued guidance on email scams in April; employees might be liable if they fall for a scam

Public officials must adhere to auditor's guidance to avoid accountability in financial losses due to scams.
The Ohio Auditor emphasizes the need for proactive measures against rising cybercrime threats.

Most Wanted' Man Pleads Guilty in Cyberattack That Upended Vermont Hospital

Ukrainian man pleaded guilty to cyberattack schemes causing millions in losses and hospital disruption.
Mr. Penchukov led an organization infecting computers with malicious software for years, causing significant financial losses.
morecybercrime

Lenders must address repurchase risk before they go bust

Lenders are managing operational pressures through workforce reductions, but this strategy creates risks related to capacity and mistakes in the mortgage process.
#venture-capital

A new disclosure shows, again, how badly Tiger's 'pray and spray' fund performed | TechCrunch

Tiger Global's investment spree during the pandemic backfired, resulting in major losses as interest rates rose and valuations plummeted.

Fluid Truck's board ousted its sibling co-founders amid allegations of mismanaging funds | TechCrunch

Fluid Truck's leadership has changed following significant financial losses, with minority investors pushing out key co-founders.

A new disclosure shows, again, how badly Tiger's 'pray and spray' fund performed | TechCrunch

Tiger Global's investment spree during the pandemic backfired, resulting in major losses as interest rates rose and valuations plummeted.

Fluid Truck's board ousted its sibling co-founders amid allegations of mismanaging funds | TechCrunch

Fluid Truck's leadership has changed following significant financial losses, with minority investors pushing out key co-founders.
moreventure-capital
#electric-vehicles

G.M.'s Electric Vehicle Sales Surge as Ford Loses Billions

Ford's early lead in the electric vehicle market is now challenged by rising competition and significant financial losses.

Lucid Stock Price Drops Below $2

Lucid Group's stock has sharply fallen, reflecting dire financial challenges and decreased vehicle deliveries.

Lucid Shares Plunge on Stock Sale

Lucid Group's significant stock drop signals financial distress, amplified by projected high losses and slow EV sales growth, questioning its long-term viability.

This EV Penny Stock Isn't Going to Make It

Consumer interest in EVs is declining significantly this year.
Lucid Motors faces severe financial losses and sustainability challenges despite backing.
Smaller EV companies like Lucid and Rivian are at risk amid financial struggles.

Rivian's Loses Hit $19 Billion

Rivian Automotive is set to receive a $6.6 billion loan from the Department of Energy to enhance production capabilities despite its significant financial losses.

Ford Lost Over $100,000 Per EV In Q1. Now It's Reportedly Cutting Battery Orders

Ford is cutting orders from battery suppliers to mitigate losses in the electric vehicle sector.

G.M.'s Electric Vehicle Sales Surge as Ford Loses Billions

Ford's early lead in the electric vehicle market is now challenged by rising competition and significant financial losses.

Lucid Stock Price Drops Below $2

Lucid Group's stock has sharply fallen, reflecting dire financial challenges and decreased vehicle deliveries.

Lucid Shares Plunge on Stock Sale

Lucid Group's significant stock drop signals financial distress, amplified by projected high losses and slow EV sales growth, questioning its long-term viability.

This EV Penny Stock Isn't Going to Make It

Consumer interest in EVs is declining significantly this year.
Lucid Motors faces severe financial losses and sustainability challenges despite backing.
Smaller EV companies like Lucid and Rivian are at risk amid financial struggles.

Rivian's Loses Hit $19 Billion

Rivian Automotive is set to receive a $6.6 billion loan from the Department of Energy to enhance production capabilities despite its significant financial losses.

Ford Lost Over $100,000 Per EV In Q1. Now It's Reportedly Cutting Battery Orders

Ford is cutting orders from battery suppliers to mitigate losses in the electric vehicle sector.
moreelectric-vehicles

Chinese EV makers are not doing quite as well as you might think

Chinese EV manufacturers are achieving record sales but continue to incur significant losses, largely due to a price war in the market.
#corporate-governance

Gogoro CEO resigns as subsidy fraud investigation continues

Gogoro's CEO resigned amid subsidy fraud allegations related to using Chinese parts instead of locally sourced ones, deeply impacting financial stability.

Royal Mail warns of 120 million cost increase due to National Insurance rise

Royal Mail is facing financial strain due to increased tax costs which affect its large workforce significantly.

Gogoro CEO resigns as subsidy fraud investigation continues

Gogoro's CEO resigned amid subsidy fraud allegations related to using Chinese parts instead of locally sourced ones, deeply impacting financial stability.

Royal Mail warns of 120 million cost increase due to National Insurance rise

Royal Mail is facing financial strain due to increased tax costs which affect its large workforce significantly.
morecorporate-governance

Report: Extreme weather cost world economy $2 trillion, and U.S. took biggest economic hit

Climate change impacts are already causing significant economic damages, especially in the past two years, totaling $451 billion globally.
#real-estate

Minskoff gets haircut on 500K sf Silicon Beach office campus

Minskoff's office campus investment in Playa Vista led to substantial financial loss after later defaulting on debt obligations.
The sale price of The Bluffs significantly decreased from $826 to $375 per square foot, reflecting the complex market dynamics.

SF tech company once worth $18B lays off 300 workers as losses mount

Opendoor is laying off 300 workers, 17% of its staff, aiming for organizational efficiency amid ongoing losses and challenging real estate market conditions.

Minskoff gets haircut on 500K sf Silicon Beach office campus

Minskoff's office campus investment in Playa Vista led to substantial financial loss after later defaulting on debt obligations.
The sale price of The Bluffs significantly decreased from $826 to $375 per square foot, reflecting the complex market dynamics.

SF tech company once worth $18B lays off 300 workers as losses mount

Opendoor is laying off 300 workers, 17% of its staff, aiming for organizational efficiency amid ongoing losses and challenging real estate market conditions.
morereal-estate
#trump-media

Huge Blow!' CNN's Wolf Blitzer Amazed At Trump Staggering Losses' As Trump Media Stock Tanks After Conviction

Former President Trump's media company has faced significant financial losses post his felony conviction, with stock prices plummeting sharply.

The Devin Nunes Defamation Juggernaut Runs Aground

Nunes faced losses while litigating against multiple media outlets, signifying a shift from public service to legal battles.

Truth Social parent Trump Media posts third straight quarterly loss

Trump Media reported a $19.2 million net loss in Q3, primarily due to legal fees and R&D costs, amid political election stakes.

Huge Blow!' CNN's Wolf Blitzer Amazed At Trump Staggering Losses' As Trump Media Stock Tanks After Conviction

Former President Trump's media company has faced significant financial losses post his felony conviction, with stock prices plummeting sharply.

The Devin Nunes Defamation Juggernaut Runs Aground

Nunes faced losses while litigating against multiple media outlets, signifying a shift from public service to legal battles.

Truth Social parent Trump Media posts third straight quarterly loss

Trump Media reported a $19.2 million net loss in Q3, primarily due to legal fees and R&D costs, amid political election stakes.
moretrump-media

As Reality Labs' Losses Keep Growing, Meta Platforms Should Take the Hint From Apple | The Motley Fool

Meta's Reality Labs division is financially problematic, showing significant losses despite strong overall earnings.
#consumer-protection

Welcome to the Golden Age of Scams

The surge in scams has led to significant financial losses, with American consumers losing $10 billion in 2023, emphasizing the increasing prevalence of fraud.

Banks and the federal government point fingers as Americans lose billions to online scams

The American Bankers Association is calling for federal action to combat online financial fraud amidst increasing liabilities for banks.

Welcome to the Golden Age of Scams

The surge in scams has led to significant financial losses, with American consumers losing $10 billion in 2023, emphasizing the increasing prevalence of fraud.

Banks and the federal government point fingers as Americans lose billions to online scams

The American Bankers Association is calling for federal action to combat online financial fraud amidst increasing liabilities for banks.
moreconsumer-protection
#boeing

Boeing will lay off 10% of employees as a strike shuts down airplane production

Boeing plans to lay off about 10% of its workforce amid ongoing financial losses and a crippling strike affecting production. This will involve 17,000 job cuts.

17,000 jobs will be cut at Boeing as monthslong strike continues

Boeing will cut 17,000 jobs, delay 777X deliveries, and register $5 billion losses due to ongoing strike and financial pressures.

Boeing is looking for a $19 billion boost

Boeing aims to raise $19 billion to improve liquidity amid a significant net loss and various operational challenges.

Boeing to cut 10% workforce, delay 777X delivery as strike takes toll

Boeing's financial situation is severely impacted by a strike, necessitating workforce reductions and project delays.

Boeing to lay off 10% of staff, delay first 777X delivery DW 10/12/2024

Boeing is cutting 17,000 jobs due to financial losses linked to a machinists' strike.
The strike costs Boeing about $1 billion per month, threatening its credit rating.
The delivery of the 777X has been delayed until 2026 due to ongoing challenges.

Boeing Is Losing a Staggering Amount of Money on Its Dismal Starliner Failure

Boeing's Starliner program has incurred nearly $1.85 billion in costs without successfully ferrying astronauts.

Boeing will lay off 10% of employees as a strike shuts down airplane production

Boeing plans to lay off about 10% of its workforce amid ongoing financial losses and a crippling strike affecting production. This will involve 17,000 job cuts.

17,000 jobs will be cut at Boeing as monthslong strike continues

Boeing will cut 17,000 jobs, delay 777X deliveries, and register $5 billion losses due to ongoing strike and financial pressures.

Boeing is looking for a $19 billion boost

Boeing aims to raise $19 billion to improve liquidity amid a significant net loss and various operational challenges.

Boeing to cut 10% workforce, delay 777X delivery as strike takes toll

Boeing's financial situation is severely impacted by a strike, necessitating workforce reductions and project delays.

Boeing to lay off 10% of staff, delay first 777X delivery DW 10/12/2024

Boeing is cutting 17,000 jobs due to financial losses linked to a machinists' strike.
The strike costs Boeing about $1 billion per month, threatening its credit rating.
The delivery of the 777X has been delayed until 2026 due to ongoing challenges.

Boeing Is Losing a Staggering Amount of Money on Its Dismal Starliner Failure

Boeing's Starliner program has incurred nearly $1.85 billion in costs without successfully ferrying astronauts.
moreboeing

ERP horror stories and how to get back on track | Computer Weekly

Many ERP implementations fail to achieve their goals, leading to inefficiencies and financial losses.
Proper assessment and readiness are crucial to successful ERP implementations. Collaboration with tech partners must emphasize transparency.
#walgreens

Walgreens is closing 1,200 stores

Walgreens will close 1,200 stores in the US over the next three years due to major financial losses.

Walgreens to close 1,200 US stores as chain attempts to steady operations at home

Walgreens plans to close 1,200 stores to recover from significant losses and focus on improving its business model.

Walgreens Closing 1,200 More Stores Nationwide, So This Is Not Just a San Francisco Thing

Walgreens is closing 1,200 stores due to overexpansion and admitting mismanagement of shoplifting issues and store security.
The company is experiencing financial troubles and looking to course correct with store closures.

Walgreens to close 1,200 US stores as chain attempts to steady operations at home

Walgreens is closing 1,200 stores to address financial losses and invest in remaining profitable locations.

Walgreens is closing 1,200 stores

Walgreens will close 1,200 stores in the US over the next three years due to major financial losses.

Walgreens to close 1,200 US stores as chain attempts to steady operations at home

Walgreens plans to close 1,200 stores to recover from significant losses and focus on improving its business model.

Walgreens Closing 1,200 More Stores Nationwide, So This Is Not Just a San Francisco Thing

Walgreens is closing 1,200 stores due to overexpansion and admitting mismanagement of shoplifting issues and store security.
The company is experiencing financial troubles and looking to course correct with store closures.

Walgreens to close 1,200 US stores as chain attempts to steady operations at home

Walgreens is closing 1,200 stores to address financial losses and invest in remaining profitable locations.
morewalgreens

View from The Shard visitor numbers decline amid competition from free viewing galleries

The View from the Shard struggles to maintain visitor numbers and profitability with the rising trend of free viewing options in London.

UK urged to lead fightback against the global fraudemic'

Nearly one in five UK adults fell victim to fraud between 2021 and 2023, highlighting the need for global action to combat fraud.

GE Vernova May Cut 900 Offshore Wind Jobs as It Scales Back

GE Vernova is downsizing its offshore wind sector due to financial and operational troubles, impacting jobs and the broader wind energy market.
#intel

Intel's big turnaround plan includes spinning off its chipmaking business

Intel is restructuring by spinning off its chip-making business to improve efficiency and recover from significant losses.
The Intel Foundry will become an independent subsidiary to clarify its operations and financial reporting.

Intel ejects Foundry as independent subsidiary

Intel is spinning out its Foundry division as an independent subsidiary to improve financial performance and attract new capital.

Intel's big turnaround plan includes spinning off its chipmaking business

Intel is restructuring by spinning off its chip-making business to improve efficiency and recover from significant losses.
The Intel Foundry will become an independent subsidiary to clarify its operations and financial reporting.

Intel ejects Foundry as independent subsidiary

Intel is spinning out its Foundry division as an independent subsidiary to improve financial performance and attract new capital.
moreintel
#premier-league

Man Utd report net loss of 113.2m for 2023-24

Manchester United reported a net loss of £113.2 million, with total losses exceeding £370 million in five years but remain compliant with financial regulations.

Everton reveal $112M loss amid relegation fight

Everton reported significant financial losses for the 2022-23 season.
The club attributes some of the financial struggles to suspended commercial partnerships.

Man Utd report net loss of 113.2m for 2023-24

Manchester United reported a net loss of £113.2 million, with total losses exceeding £370 million in five years but remain compliant with financial regulations.

Everton reveal $112M loss amid relegation fight

Everton reported significant financial losses for the 2022-23 season.
The club attributes some of the financial struggles to suspended commercial partnerships.
morepremier-league
#canada-post

After Billions of Dollars in Losses, Canada Post Warns It May Run Out of Cash

Canada Post is facing unsustainable financial losses, risking its future as a vital national infrastructure.

Canada Post proposes 25-cent price hike on stamps | CBC News

Canada Post is proposing a postage rate increase to address financial losses and align prices with rising service costs.

After Billions of Dollars in Losses, Canada Post Warns It May Run Out of Cash

Canada Post is facing unsustainable financial losses, risking its future as a vital national infrastructure.

Canada Post proposes 25-cent price hike on stamps | CBC News

Canada Post is proposing a postage rate increase to address financial losses and align prices with rising service costs.
morecanada-post
#new-york-city

Up to $1 Billion May Go to Waste After Hochul's Congestion Pricing Halt

The cancellation of congestion pricing in NYC resulted in significant financial losses and the unrealized potential of revenue generation for critical transit upgrades.

Fare Evasion Surges on N.Y.C. Buses, Where 48% of Riders Fail to Pay

New York City's bus fare evasion crisis leads to substantial revenue losses for the M.T.A., with almost half of bus riders not paying.
There is a significant disparity in enforcement focus, with bus fare evasion largely overlooked compared to subway evasion.

Up to $1 Billion May Go to Waste After Hochul's Congestion Pricing Halt

The cancellation of congestion pricing in NYC resulted in significant financial losses and the unrealized potential of revenue generation for critical transit upgrades.

Fare Evasion Surges on N.Y.C. Buses, Where 48% of Riders Fail to Pay

New York City's bus fare evasion crisis leads to substantial revenue losses for the M.T.A., with almost half of bus riders not paying.
There is a significant disparity in enforcement focus, with bus fare evasion largely overlooked compared to subway evasion.
morenew-york-city

Shareholder-tracking company Equiniti shells out $850K to SEC over breaches

Equiniti settled with the SEC for $850,000 after client fund losses of $6.6 million due to cyber breaches in 2022 and 2023.

After postage stamp price hikes and $87 billion in losses, critics of the USPS leader say his latest gambit could lead to a death spiral

The U.S. Postal Service aims to save $3 billion annually through changes in delivery networks while preserving local mail delivery times and improvement in tracking.

Birmingham council faces 216.5M loss over Oracle debacle

Birmingham City Council's Oracle implementation disaster will cost £216.5 million by April 2026, far exceeding initial estimates and leading to substantial financial losses.
from www.npr.org
4 months ago

NTSB wraps up 'door plug' hearing as new Boeing CEO takes over

A new CEO takes over Boeing amid safety lapses, production mistakes, and financial losses.

Rivian lost $1.46 billion in Q2 as it drives towards a VW-linked future | TechCrunch

Rivian faces significant financial losses but expects to improve profitability with newer, more cost-efficient models and a potential $5 billion investment from Volkswagen.

Microsoft to take massive hit as Fortune 500 firms suffer $5.4B in losses from CrowdStrike outage: study

US Fortune 500 companies face significant losses due to the CrowdStrike outage, with Microsoft expected to add hundreds of millions of dollars to the total losses.
#media-industry

London Evening Standard to close daily newspaper and launch new weekly

London's Evening Standard is replacing its daily newspaper with a new weekly publication due to significant financial losses and changes in consumer habits.

Billionaires hoped to profit in media. It's not working.

Billionaire owners are struggling to make money in the news industry.
Wealth is not a predictor for solving the challenges facing media companies.

London Evening Standard to close daily newspaper and launch new weekly

London's Evening Standard is replacing its daily newspaper with a new weekly publication due to significant financial losses and changes in consumer habits.

Billionaires hoped to profit in media. It's not working.

Billionaire owners are struggling to make money in the news industry.
Wealth is not a predictor for solving the challenges facing media companies.
moremedia-industry

Meta and LG's headset partnership is on the rocks

LG pausing partnership with Meta on XR device development.

Customers say Meta's ad-buying AI blows through budgets in a matter of hours

AI-powered ad systems can lead to overspending and inefficient ad campaigns, causing dissatisfaction and financial losses for users.

Layoffs Watch '24: Brevan Howard

Brevan Howard Asset Management is expanding its operations but facing financial losses.
The firm has cut about 10% of its traders due to underperformance in macro trading and systematic trading.

10 players Chelsea can sell to avoid financial sanctions

Chelsea reported an annual loss of 90.1m, and potential heavy sanctions loom.
Various players such as Ziyech and Lukaku could be sold to raise funds for Chelsea.

Why I got it so wrong on GB News the flailing TV juggernaut that's too rich to fail | Zoe Williams

GB News financial losses have increased significantly over the years despite climbing viewer numbers.
Ofcom often finds GB News in violation of impartiality regulations, including on misogynistic content and biased panel discussions.

Sources: Chelsea tracking Bilbao's Nico Williams

Chelsea is tracking Nico Williams from Athletic Bilbao, whose new contract includes a €50 million release clause.
Chelsea's pursuit of Williams might depend on selling players due to their recent substantial financial losses.

Council Post: Stop The Return To Office Nonsense

Hybrid work is recognized as the optimal work model for the future.
Corporations face substantial financial losses due to underutilized office spaces.

Cate Blanchett accused of destroying holidays' with Cornwall eco-home

Cate Blanchett's eco-home construction in Cornwall has irked neighbors, leading to complaints and lost revenue.
Neighbors raise concerns over noise from ongoing renovations and new applications, accusing the celebrity couple of disregarding their peace and causing financial losses.

Two of L.A.'s most lauded chefs are closing their Michelin-starred restaurant and its downstairs bistro

Two of L.A.'s acclaimed restaurants, Manzke and Bicyclette, are set to close on March 2, 2024.
The closures are reportedly due to financial losses.

How we prevented financial loses in a SaaS app

Identified premium users without Stripe subscription
Fixed bugs and synced historical data
#layoffs

The LA Times lays off 115 people, with the De Los and Washington, D.C. teams especially hard-hit

The Los Angeles Times has laid off 23% of its newsroom, one of the largest cuts in the paper's history.
The layoffs followed reports that the Times lost $30 million to $40 million last year.

Spotify to Lay Off One-Sixth of Its Workforce

Spotify is laying off 1,500 employees, or one-sixth of its workforce, due to financial losses and the need to reduce costs.
The company's cost structure is still too big despite previous efforts to cut costs.

The LA Times lays off 115 people, with the De Los and Washington, D.C. teams especially hard-hit

The Los Angeles Times has laid off 23% of its newsroom, one of the largest cuts in the paper's history.
The layoffs followed reports that the Times lost $30 million to $40 million last year.

Spotify to Lay Off One-Sixth of Its Workforce

Spotify is laying off 1,500 employees, or one-sixth of its workforce, due to financial losses and the need to reduce costs.
The company's cost structure is still too big despite previous efforts to cut costs.
morelayoffs

Former CPS assistant principal whose case was highlighted in IG report appears in court on embezzlement charges

Former Chicago Public Schools assistant principal accused of embezzling $274,000 from an elementary school.
Office of Inspector General report highlights financial losses and calls for new training protocols to address adult-on-student sexual misconduct.

Why investors are doubling down on Truth Social despite Trump's historic conviction

Trump supporters double down on Trump Media despite warnings and financial losses, demonstrating loyalty over financial gains.

Vehicle vultures' stripping family cars as demand for parts surges

Car owners face repeated car stripping incidents impacting their sense of safety and finances.

Democracy dies in bias: Blame The Washington Post's woes on its blatant political slant

The Washington Post is facing substantial financial losses and declining readership due to various factors, including shifts in online algorithms and reduced ad revenue.

How to Close Communication Gaps in your Workplace | ClickUp

Effective communication is crucial for organizational success and financial stability.

Disney employees sold L.A. homes to join Fla. office that never opened, lawsuit says

Two employees sued Disney for pressuring them to relocate to Florida, only to cancel the office later, causing significant financial losses to employees.
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