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#finance

352 posts35 participants11 posts today
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All of CaaStle's employees have been furloughed for two weeks, effective today.

Read more: t.co/rWj1Mhtb5Y

Unusual Whales - News · CaaStle, a fashion startup who raised over $534 million from VCs, just declared itself broke in "one of the biggest startup frauds ever"All of CaaStle’s employees have been furloughed for two weeks, effective today. Hunsicker originally launched the company in 2011 under the name Gwynnie Bee, offering a subscription box service focused on plus-sized women’s fashion. Over the next 14 years, she remained in near-constant fundraising mode, securing capital from high-net-worth individuals including Bill Ackman. The company’s board, at various times, included prominent figures such as venture capitalist Ram Shriram and Alphabet chai
#news#finance#economics
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unusual_whales

What was supposed to be a $75 million game-changing system for managing 900,000 civilian employees turned into a six-year headache, running $280 million over budget.

Read more: t.co/Lk6XfYLsmG

Unusual Whales - News · The US Department of Defense said it will terminate a plan to use Oracle, ORCL, software to manage its civilian workforce as part of the Pentagon’s cost-cutting effortsThe Pentagon has officially shut down a major human resources tech overhaul, and it’s a serious blow to Oracle (NYSE: ORCL) and Leidos (NYSE: LDOS). What began as a $75 million effort to modernize the system for managing 900,000 civilian employees turned into a six-year debacle, ballooning to $280 million over budget. Defense Secretary Pete Hegseth didn’t mince words, calling further investment in the project a “waste of money.” While Oracle’s involvement was never publicly acknowledged, contrac
#news#finance#economics
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Legislation enacted last year directed the agency to develop a process to accept the requests, a move that could make it more difficult for the public to determine who owns private aircraft and track their movements.

Read more: t.co/JguH4ujYl8

Unusual Whales - News · Owners of private aircraft can now ask the Federal Aviation Administration to not publicly disclose their name, address and other data linking them to their planesPrivate aircraft owners can now request that the Federal Aviation Administration (FAA) withhold their names, addresses, and other identifying information from public records that link them to their planes. The move comes in response to legislation passed last year that directed the FAA to create a process for handling such requests. The change could make it more difficult for the public to identify private aircraft owners and track their flight activity. In recent years, social media accounts
#news#finance#economics
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A Paris court also handed Le Pen, who was the frontrunner for the next election, a four-year prison sentence with two years suspended, to be served under house arrest, and a €100,000 ($108,000) fine.

Read more: t.co/3I2vSfiwfB

Unusual Whales - News · A French court finds Marine Le Pen guilty of embezzling EU fundsFrench far-right leader Marine Le Pen has been barred from holding political office for five years after being convicted of embezzling European Union funds—a politically explosive verdict that has effectively ended her hopes of a presidential run in 2027. A Paris court sentenced Le Pen, who had been the frontrunner for the next election, to four years in prison, with two years suspended. The sentence is to be served under house arrest. She was also fined €100,000 ($108,000). Her lawyer confirme
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In the bankruptcy process, the company plans to sell all of its 100 company-owned restaurants to two franchisee groups that operate Hooters locations in the Tampa, Florida, and Chicago areas.

Read more: t.co/rr3E91tDzP

Unusual Whales - News · Hooters has filed for bankruptcyHooters — the restaurant chain originally known for its orange-clad, all-female waitstaff and later for its chicken wings — has filed for bankruptcy, the company announced Monday. However, the decades-old brand emphasized that it isn’t going away. As part of its bankruptcy plan, the company intends to sell all 100 of its company-owned restaurants to two franchisee groups that currently operate Hooters locations in the Tampa, Florida, and Chicago areas. Together, these groups already manage abou
#news#finance#economics
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Last year, existing home sales fell to their lowest level in almost three decades.

Read more: t.co/ezvHHzWOgQ

Unusual Whales - News · More than half of baby boomers have no plans to move, although the majority of them have lived in their current homes for more than a decadeHere’s a reworded version that maintains the original meaning and much of the original language while improving clarity and structure: Last year, existing home sales dropped to their lowest point in nearly 30 years. Few people were buying, and even fewer were selling. Beyond the lack of financial incentive to sell, many baby boomers are choosing to age in place simply because they can. As a result, they're renovating and upgrading their current homes—not just for safety, but also to enjoy more
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Thirty-nine per cent of people in British Columbia and in Manitoba/Saskatchewan reported they’re worried.

Read more: t.co/Uz8rYuh56M

Unusual Whales - News · 40% of Canadians fear losing their jobs due to Trump's tariffsA Leger poll conducted between March 7 and March 10 and involving over 1,500 Canadian adults suggests that more than half of workers in Ontario are concerned about job security — the highest rate across the country. In contrast, fewer than one in four respondents in Atlantic Canada expressed similar concerns. In British Columbia and Manitoba/Saskatchewan, 39% of people reported being worried about losing their jobs. That compares to 35% in Alberta and 26% in Quebec. Because the poll was conduc
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Last week, Trump has announced 25% tariffs on all cars not made in the US

Read more: t.co/4X4FWY4DoU

Unusual Whales - News · Trump has announced 25% tariffs on all cars not made in the USU.S. President Donald Trump signed an executive order on Wednesday to impose 25 percent tariffs on all automobile imports to the United States starting next week, further escalating his global trade war and sending shockwaves through stock markets. Prime Minister Mark Carney condemned the move as a “direct attack” on Canadian auto workers and vowed to take swift action in response. “We will defend our workers. We will defend our companies. We will defend our country. And we will defend it toge
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Musk has long been an advocate of Dogecoin, declaring himself “Dogefather” on SNL in 2021 and saying that he wants to be the coin’s CEO.

Read more: t.co/Fpl9fmuUWJ

Unusual Whales - News · Elon Musk says the US government has "no plans" to use DogecoinDespite Elon Musk’s well-known support for Dogecoin, the tech billionaire said on Sunday that the federal government has no intention of adopting the dog-themed cryptocurrency for official use. “There are no plans for the government to use Dogecoin for anything as far as I know,” Musk said during a town hall in Wisconsin, shutting down speculation that the Department of Government Efficiency (DOGE) might incorporate the cryptocurrency into federal operations. The idea wasn’t completely baseles
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According to a study released in December by IDB Invest, 23.6% of Panama’s annual income is generated from the canal and companies that provide services related to the canal’s operations.

Read more: t.co/hI5qtPpzeW

Unusual Whales - News · China has blocked the $23 billion sale of dozens of ports worldwide — including two key ports in the Panama CanaA pending deal involving ports near the Panama Canal has reportedly been delayed, pushing back a closing that was initially expected next week. Former President Donald Trump has incorrectly claimed that China controls the Panama Canal. In reality, Panama has operated the canal since 1999, though China does own port infrastructure on both the Atlantic and Pacific sides of the key waterway. Trump has floated the idea of the U.S. reclaiming control of the canal, which connects the Atlantic and Pac
#news#finance#economics
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