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Kraft will pay $62 million to settle SEC accounting probe
The SEC announced the formal charges and the settlement on Friday after a long-running regulatory investigation that Kraft disclosed in 2019. The company will pay $62 million as part of the settlement. The agency alleges that from the last quarter of 2015 to the end of 2018, Kraft “engaged in various types of accounting misconduct” — including faking supplier contracts to get discounts that the company hadn’t earned — to ultimately make their financials look better to analysts and investors. Two individuals, Kraft’s former chief operating officer Eduardo Pelleissone and former chief procurement officer Klaus Hofmann, were also personally charged
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Financial study boosts Jamestown’s $72.5 million theme park, Bison World
The financial forecast was conducted by Eide Bailly under contract with the Jamestown/Stutsman Development Corp. “Nearly all of the projected financial benefits will flow back to the state as Legacy Fund earnings or taxes into the general fund if the investment is made from the state’s $8.7 billion Legacy Fund,” wrote Connie Ova, CEO of the JSDC in a press release that accompanied the Eide Bailly report. The Bison World project calls for the construction of a bison-themed cultural and entertainment park adjacent to Interstate 94 on land currently owned by the state of North Dakota through the North Dakota
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Delaware Insurance Companies Fined 1.3 Million Dollars For Denying Mental Health Claims
DOVER, DE- Health insurance companies in Delaware Monday were hit with 1.3 million dollars in fines for refusing coverage on mental health drugs and services. The fine came on the 31st anniversary of the Americans With Disabilities Act, which ensured disabled people in the US would not receive poorer quality of life care and service as a result of their disability. The fines were part of a nearly two-year-long Delaware Department of Insurance market conduct investigation intocomplaints from policyholders who reported their insurance for unequal coverage of mental health medication and services. “We knew these violations were occurring
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US Virgin Islands Selects ICF for $9 Million Workforce Development Contract | State
FAIRFAX, Va., July 19, 2021 /PRNewswire/ — The Government of the U.S. Virgin Islands Department of Labor recently awarded global consulting and digital services provider ICF (NASDAQ:ICFI) a new $9 million contract to implement a new workforce development program to train local workers to support the territory’s recovery from hurricanes Irma and Maria. The contract has a term of two years. The Community Development Block Grant Disaster Recovery (CDBG-DR) funded program, entitled Skills for Today, will train low-to-moderate income individuals in occupations that will support recovery efforts and help spur economic development on the islands. ICF will serve as
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Vancouver-based ZoomInfo pays $575 million for Chorus.ai, a San Francisco marketing technology company
ZoomInfo, the rapidly growing marketing company in downtown Vancouver, said Tuesday it will pay $575 million in cash for a San Francisco marketing technology company. It’s ZoomInfo’s biggest deal since the company raised more than $900 million in its initial public offering last year. ZoomInfo and Chorus.ai, the company it is acquiring, both provide technology that helps clients improve their sales pitches. ZoomInfo mines online sources to help marketers identify specific people within target organizations and tailor their sales pitches to the best prospects. Chorus, founded in 2015, provides technology to monitors sales calls, emails and other communications with
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Juul agrees to $40 million settlement in North Carolina vaping lawsuit
Packages of Juul mint flavored e-cigarettes are displayed at San Rafael Smokeshop on November 07, 2019 in San Rafael, California. Juul, a leading e-cigarette company, announced that it is halting sales of their popular mint flavor e-cigarette after the release of two studies that showed a surge in teen use. Justin Sullivan | Getty Images News | Getty Images Juul Labs has agreed to pay North Carolina $40 million and change its business practices in the state. Regulators and health officials have blamed the company for the surging popularity of e-cigarettes among teens in recent years. In 2019, federal data
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Fox News agrees to a $1 million penalty after workplace culture investigation.
Daily Business Briefing June 29, 2021Updated June 29, 2021, 8:25 p.m. ET June 29, 2021, 8:25 p.m. ET Bill O’Reilly was forced out of his Fox News show in 2017 after a series of sexual misconduct allegations against him.Credit…Robert Wright for The New York Times Fox News agreed to pay a $1 million penalty under a settlement reached last week with the New York City Commission on Human Rights. The case stemmed from a cascade of sexual misconduct allegations that shook the network several years ago and led to the exits of Roger Ailes, its co-founder, and
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Do You Qualify For $500 Million Of Student Loan Cancellation?
President Joe Biden (Photo by Drew Angerer/Getty Images) Getty Images You may be wondering if you qualify for $500 million of student loan cancellation. Here’s what you need to know — and what it means for your student loans. Student Loans If you’ve follow the latest news on student loan cancellation, then you know that President Joe Biden has now cancelled $3 billion of student loans. This includes $500 million of student loan forgiveness announced this week. Here’s how to qualify for the $500 million of student loan cancellation (and what to do if you don’t): The borrower defense to
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