A fire at a Kimberly-Clark distribution center in Ontario, California, that houses paper products could potentially lead to disruptions in a market that serves around 50 million consumers. Ontario, California, Deputy Chief Mike Wedell confirms that a male employee of the paper company has been arrested on arson charges. (Source: Bloomberg)
A fire at a Kimberly-Clark distribution center in Ontario, California, that houses paper products could potentially lead to disruptions in a market that serves around 50 million consumers. Ontario, California, Deputy Chief Mike Wedell confirms that a male employee of the paper company has been arrested on arson charges. (Source: Bloomberg)
Shares of Levi Strauss climbed in after-hours trading Tuesday after the jeans maker raised its sales and profit outlook, despite concerns about surging gas prices and the Iran war.
Shares of Levi Strauss climbed in after-hours trading Tuesday after the jeans maker raised its sales and profit outlook, despite concerns about surging gas prices and the Iran war.
Bankrupt auto-parts maker First Brands Group must give a last-minute bidder a chance to buy some of its most-recognizable brands, a federal judge ruled Tuesday. Autoparts maker NOCO Co. has until Friday to make an offer for at least one of the 12 brands that First Brands is trying to sell as part of its multi-billion dollar bankruptcy case, Judge Christopher Lopez said during a court hearing. NOCO...
Bankrupt auto-parts maker First Brands Group must give a last-minute bidder a chance to buy some of its most-recognizable brands, a federal judge ruled Tuesday. Autoparts maker NOCO Co. has until Friday to make an offer for at least one of the 12 brands that First Brands is trying to sell as part of its multi-billion dollar bankruptcy case, Judge Christopher Lopez said during a court hearing. NOCO has said it was wrongly denied a chance to bid on one of the brands. The decision is a short-term setback for First Brands and its main creditor groups, who had asked Lopez to reject NOCO’s request and instead immediately approve a sale of all of the brands to PGI Northstar for $25 million in cash and as much as $20 million in future payments. That deal included well known brands such as Fram, Autolite and Trico. First Brands had argued that selling its Trico brand to NOCO could derail its deal with PGI which wants all 12 of the brands and would not give up any individual name. Lopez said a short delay would allow a test of that claim. “The process is best served by doing a quick check” to see if a better deal can be put together, Lopez said during the hearing in Houston. First Brands, which shuttered 17 facilities and fired 4,000 workers earlier this year, has been trying to sell its remaining parts-making factories after new managers uncovered widespread fraud and lenders refused to put up enough cash to overhaul the conglomerate. The case is First Brands Group LLC, 25-90399 , US Bankruptcy Court, Southern District of Texas (Houston).
AI Apps Getty Images Investment Thesis Meta Platforms, Inc. ( META ) shares are down 28% from their peak last August and are now officially in correction territory. There are three issues weighing down on the ticker: Geopolitical tensions, oil prices, and related broad-market factors. Legal setbacks. Surging CapEx and AI spending (including the failure of Llama - Meta's Large Language Model "LLM" ...
AI Apps Getty Images Investment Thesis Meta Platforms, Inc. ( META ) shares are down 28% from their peak last August and are now officially in correction territory. There are three issues weighing down on the ticker: Geopolitical tensions, oil prices, and related broad-market factors. Legal setbacks. Surging CapEx and AI spending (including the failure of Llama - Meta's Large Language Model "LLM" - to catch up with peers). The tail risk is material. The recent court rulings in the United States threaten the core ad business by questioning the design and the impact of "addictive features" on society. In Europe, regulators are asking the social media giant to give users greater control over their data. This is not the first time that the market has put Meta's business model under scrutiny. If history is any guide, periods of peak skepticism are followed by a rebound. For long-term investors willing to take the tail risk, Meta's current share price dip is an opening. Legal Setbacks And Ad Segment Performance In 2021, Apple ( AAPL ) shook the digital ads market when it implemented the App Tracking Transparency "ATT" framework, which required users to actively opt in to allow companies to track their activities across apps and websites. Meta used this data to provide key ad services such as measuring ad conversion, proving returns, and offering targeted ads. Naturally, the ATT framework caused concern, pulling shares down to the ~$90 level by late 2022. The rest is history. Meta persevered by leaning on statistical and AI models, in addition to sourcing data from its ad customers to fill in the gap created by the ATT framework. By 2025, advertising revenue reached a record of $196 billion, up 22% YoY. Ad impressions rose 12%, faster than the growth in daily active users "DAU," which grew at 7%. Finally, price per ad rose by 9% in 2025, on top of a 10% rise in 2024. The graph below shows an index of Meta's Price per Ad built using the company's reported % change in Price/...
Elon Musk looks on as President Donald Trump speaks at the U.S.-Saudi Investment Forum at the John F. Kennedy Center for the Performing Arts in Washington, Nov. 19, 2025. Brendan Smialowski | Afp | Getty Images Elon Musk is seeking to have OpenAI CEO Sam Altman and President Greg Brockman removed from their roles as officers in the company as part of a case that's expected to go to trial later thi...
Elon Musk looks on as President Donald Trump speaks at the U.S.-Saudi Investment Forum at the John F. Kennedy Center for the Performing Arts in Washington, Nov. 19, 2025. Brendan Smialowski | Afp | Getty Images Elon Musk is seeking to have OpenAI CEO Sam Altman and President Greg Brockman removed from their roles as officers in the company as part of a case that's expected to go to trial later this month. In a legal filing on Tuesday, Musk's lawyers laid out specific remedies their client is seeking if a judge and jury determine that Altman and OpenAI defrauded Musk, the world's richest person. Musk sued Altman and OpenAI in 2024, claiming the artificial intelligence company that he helped start almost a decade earlier "assiduously manipulated" and "deceived" him into donating $38 million, based on promises that the entity would remain a nonprofit. The two sides have since been embroiled in a public war of words, in addition to their legal battle and budding business rivalry. "Plaintiff will seek an order removing Altman as a director from the OpenAI nonprofit board and removing both Altman and Brockman as officers of the OpenAI for-profit," Musk's lawyers said in Tuesday's filing. "Removal of a charity's officers and directors is a common remedy where those individuals fail to protect or carry out the charity's public mission." Musk is also asking the court to make OpenAI revert to operating as an actual nonprofit, according to the filing. The company completed a restructuring in October, and is now run as a nonprofit with a 26% stake in the for-profit arm, which includes ChatGPT. Jury selection for the case is slated to begin on April 27, in a federal court in Oakland, California. OpenAI didn't immediately respond to a request for comment. Musk, Altman and others co-founded OpenAI as a nonprofit AI lab in 2015. Musk left OpenAI in 2018, after trying to convince executives there to merge it with Tesla , his electric vehicle company. In 2023, Musk launched a competi...