Ex-Celsius CEO Alex Mashinsky to Plead Guilty in US Fraud Case - Bloomberg: Alex Mashinsky, the charismatic co-founder of crypto lender Celsius Network, pleaded guilty to two counts of fraud in one of the last cases stemming from the widespread upheaval that shook digital currencies two years ago.
Children’s Place profit nearly halves as troubled retailer’s turnaround efforts dampen sales - MarketWatch: Sales fell to $390.2 million from $480.2 million a year ago. Same-store sales fell 17.1%, mostly driven by a sharp decline in e-commerce revenue, as the company shed unprofitable sales, pulled back inflated marketing spend and ended “free shipping” orders
Oakland receives Fitch downgrade as city flirts with insolvency | Bond Buyer: The trifecta of sports team exits, homelessness and city leadership turnover has placed the San Francisco Bay area city on shaky fiscal ground.
Nearly 30% of US drugstores closed in one decade, study shows | AP News: New research shows that nearly three out of 10 U.S. drugstores that were open during the previous decade had closed by 2021.
Judge Denies News Orgs. Bid To Unseal FTX Customer Names - Law360: A Delaware federal judge on Tuesday said he wouldn't reverse an order allowing defunct crypto platform FTX Trading Ltd. to keep customer names out of public bankruptcy filings, rejecting an appeal from major news outlets to unseal the information and writing that sealing the information preserved FTX's assets and protected creditors from cybercrime.
US College Closures Are Expected to Soar, Fed Research Says - Bloomberg: The number of colleges that close each year is poised to significantly increase as schools contend with a slowdown in prospective students.
Electric school bus maker Lion Electric suspends operations at Illinois plant: Quebec-based Lion, which has struggled in recent months, says it is suspending operations at its Illinois plant and temporarily laying off approximately 400 workers, in both Canada and the U.S. The EV company has reached an agreement with its creditors that will extend key deadlines for repayment until Dec. 16, the statement said.
