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

There are currently more than 2,400 Rite Aid locations on the East Coast and West Coast. Reports indicate that the pharmacy chain may look to sell up to 500 of these stores in a bankruptcy filing. The company is struggling with debt and financial losses. It is thought that Rite Aid may explore a potential bankruptcy filing in an effort to restructure its existing debt. If the chain were to file for bankruptcy, it could look to close or sell a significant number of stores in order to help further reduce its debt.

Target says it will close nine stores in major cities, citing violence and theft

as two of the reasons. The retailer says it will provide support and assistance for employees affected by the closures, including resources to help them find new employment opportunities. In addition, Target says it is working with law enforcement to increase security in the affected areas.

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

The Securities and Exchange Commission (SEC) has charged a popular “Cash Flow King” podcast host in connection with an $11 million Ponzi scheme. The podcast host, Paul R. Harper, ran an investment fund called the Full Disclosure Fund. The SEC alleges that Harper misled investors by making false statements about the fund’s performance and the use of investor money. The SEC’s complaint charges Harper with making fraudulent, material misstatements and omissions about the Full Disclosure Fund to solicit investments from at least 72 investors. Harper also allegedly used investors’ proceeds to pay earlier investors, as well as himself. Harper allegedly told investors

UAW announces new strike locations as walkout enters second week

The United Auto Workers (UAW) has announced its intention to expand its ongoing nationwide strike to additional locations, including Detroit, Michigan and Toledo, Ohio, among others. The announcement comes as the UAW strike enters its second week and as GeneralMotors (GM) has yet to agree to a new contract with the union. The UAW has said that additional strike locations will be determined based on the impact of GM’s decision to close, relocate, or reduce operations. As it stands, GM currently employs around 46,000 union workers in the U.S. and its decision to limit or shutter operations at various plants has

Starbucks to face lawsuit alleging its Refresher fruit drinks are missing fruit

Yes, it is possible for Starbucks to face a lawsuit alleging that its Refresher fruit drinks are missing fruit. Consumers could potentially file a class-action lawsuit alleging that Starbucks' Refresher products contain less of the promised fruit ingredients than what is portrayed on their packaging. The legal basis for the lawsuit would be that the company misled consumers by deceiving them with false advertising. Many states have laws that protect consumers from such deceptive practices and provide legal remedies for those who have been wronged. In such a case, the plaintiffs could be eligible for refunds and/or damages.

Federal Reserve pauses rate hikes as inflation slows down

In response to slowing inflation and increased uncertainty in the economic outlook, the Federal Reserve is pausing its rate hikes. The central bank recently left interest rates unchanged, raising them by only 0.25% this year despite forecasting additional rate hikes of 0.75%. The Federal Reserve stated that they are monitoring incoming data closely, and that it will “act as appropriate to sustain the expansion.” This move comes after months of speculation that the Federal Reserve was close to pausing rate hikes. Analysts expect this pause to last until inflation starts to pick up again, or the economic outlook becomes more certain. The