Former Venezuelan treasurer charged with accepting millions in Miami corruption case
A former Venezuelan national treasurer and her husband accepted massive bribes from a politically connected billionaire who paid them through U.S. bank accounts so he could gain access to the government’s lucrative currency exchange system, according to a new federal criminal case filed in Miami.Former Venezuelan treasurer Claudia Patricia Diaz Guillen, a former naval officer, and her husband, Adrian Velasquez Figueroa, a former presidential security guard, were charged Friday with accepting tens of millions of dollars from the billionaire, Raul Gorrin, in a foreign corruption and money launde...
GM nabs big hire from airline industry as its next CFO
The man whom Delta Airlines credits for guiding it through crisis as the coronavirus pandemic swept the nation will become General Motors’ new chief financial officer.GM said Friday it has hired Paul Jacobson, 48, as executive vice president and CFO effective Dec. 1.Until then, John Stapleton will continue in two roles: As GM’s North America chief financial officer and as acting global CFO, a role he stepped into Aug. 31.“Paul is a great addition to the GM senior leadership team and is dedicated to leading the company for the benefit of all stakeholders,” said GM CEO Mary Barra, whom Jacobson ...
Detroit Free Press
Home bakers bought more butter, lifted profits at Land O'Lakes
Before even hitting peak holiday baking season, Land O’Lakes Inc. is having a banner butter year.The Minnesota-based dairy and feed cooperative reported limited third-quarter results Friday that reflected the shift in demand resulted from the global pandemic.While net sales for the quarter ending Sept. 30 were down slightly to $2.9 billion, profit skyrocketed on soaring consumer demand for dairy products. Land O’Lakes tallied net earnings of $66 million, compared to $12 million in the same period a year ago.That huge increase in profit was in large part due to Americans eating, cooking and bak...
Star Tribune (Minneapolis)
Amazon again posts record sales and profit amid rising pandemic costs
SEATTLE — Amazon posted record sales and profit for the second consecutive quarter, as it continues to capitalize on a pandemic-driven surge in online shopping.Heavy spending on hiring, expansion and the costs of operating amid COVID-19 may eat into profitability in the fourth quarter, however, as the company gears up for quarterly sales expected to exceed $100 billion for the first time.Amazon said Thursday that its third-quarter revenue was $96.1 billion, up 37.4% from a year earlier, well ahead of the expectations of the company and Wall Street analysts. Profit surged 197% to $6.3 billion, ...
The Seattle Times
Your next vehicle might cost more. Here's why
LIVONIA, Mich. — When automakers resumed production of vehicles following the initial shutdown amid the novel coronavirus pandemic, they revved up generous incentives for buyers akin to those seen during previous downturns in anticipation of a major slowdown.But just a few months later, average transaction prices are reaching record figures. That comes despite third-quarter unemployment averaging 8.8% and consumer sentiment falling to levels not seen since 2011 just after the Great Recession. Dealers say it’s a challenge staying stocked as the plants seek to catch up on production following th...
The Detroit News
Tropical Storm Zeta cuts through Southeast US, leaving 2.2 million in dark; 2nd system pops up with high odds in Atlantic
ORLANDO, Fla. – Tropical Storm Zeta cut powerlines throughout the southeast United States and leaving millions in the dark Thursday morning, while the National Hurricane Center identified a new system in the south Atlantic.First, about 2.2 million customers in eight states are in the dark due to Zeta, according to Poweroutage.US.The tropical storm had its maximum sustained winds drop 60 mph hours after making landfall in Louisiana Wednesday afternoon, according to the NHC’s 8 a.m. update. Zeta is 50 miles west of Ashville, North Carolina and is moving at a fast pace of 39 mph. Its tropical-sto...
Comcast's third-quarter revenue falls as coronavirus harms theme parks, movie studios
PHILADELPHIA — The coronavirus battered Comcast Corp.’s theme parks and film studios, driving down revenue 4.8% in the third quarter even as the company signed up a record number of broadband customers.The Philadelphia cable giant said Thursday that revenue dropped 4.8% from $26.8 billion to $25.5 billion for the quarter ending Sept. 30. Net profit was $2 billion, or 44 cents per share, a 37.2% decline from the $3.2 billion last year.Still, Comcast’s earnings beat Wall Street expectations. The company’s shares were up 1.6% to $42.66 in pre-market trading as of 8 a.m.Comcast’s entertainment uni...
The Philadelphia Inquirer
McDonald's hit with new lawsuit alleging racial discrimination against Black franchisees
CHICAGO — McDonald’s faces another federal lawsuit alleging that the company discriminated against Black franchisees — and this time the allegations are coming from current operators, who are seeking to make the complaint a class action.The complaint against the Chicago-based fast food giant, filed Thursday in U.S. District Court for the Northern District of Illinois, names as plaintiffs two brothers who own McDonald’s franchises in Tennessee. James Byrd, a franchisee for 31 years, operates two restaurants and Darrell Byrd, a franchisee for 22 years, operates another two.Their allegations are ...
21 arrested by Border Patrol after boat comes ashore near San Diego
IMPERIAL BEACH, Calif. — Border Patrol agents arrested 21 people in Imperial Beach after a smuggling boat came ashore early Monday morning, officials said.The panga was spotted around 3:30 a.m. at the south end of Seacoast Drive and a group of people got off and ran. Agents quickly located 13 people near the intersection of Seacoast and Encanto Avenue.More agents responded and found eight additional people near Seacoast and Cortez Avenue.The group included 14 men from Mexico, six woman from Mexico and one woman from Guatamala. All 21 were taken to a Border Patrol station for processing. Two of...
The San Diego Union-Tribune
Hurricane Zeta gains strength as it jogs toward storm beaten Louisiana
Hurricane Zeta continued to strengthen its blustery winds Wednesday morning as it stewed in the Gulf of Mexico with it forecast to make landfall somewhere along Louisiana’s coastline, where four other storms have already made landfall this year.Zeta’s maximum sustained winds increased to 90 mph, according to the National Hurricane Center’s 8 a.m. update. The Category 1 hurricane is 265 miles southwest of the mouth of the Mississippi River and is moving north at 17 mph. Its hurricane-force winds extend outward up to 35 miles from its center and tropical-storm-force winds reach up to 150 miles.H...