FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. In an anticipated amended Plan of Reorganization filed in a U.S. bankruptcy court late Tuesday, the exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to customers and other creditors around the world. The filing said that after paying claims in full, the plan provides for supplemental interest payments to creditors, to the extent that funds still remain. The interest rate for most creditors is…

Americans are addicted to caffeine but not to Starbucks, it seems. When Chicago writer Natalia Nebel steps out for an espresso, for instance, Starbucks no longer comes to mind, even though she lives within walking distance to two of the coffee chain’s more than 17,000 U.S. stores.  “I used to go all the time and now I don’t go anymore,” said Nebel, 61, recalling her pre-COVID routine of setting up shop four days a week at a local Starbucks, finding it an enjoyable change of scenery and a comfortable spot to work. “I liked being around people in a different…

BOSTON – Steward Health Care, the struggling health care provider that relied on backing from private equity investors to quickly acquire dozens of community hospitals, including facilities in Massachusetts, Texas and Florida, announced Monday that it is filing for bankruptcy. Steward, which is millions of dollars in debt, said it has “commenced an in-court restructuring process through the filing of voluntary petitions for relief” under Chapter 11 of the U.S. Bankruptcy Code. It submitted the filing in the Southern District of Texas.  The Dallas-based company currently owns 30 hospitals across eight states, including nine in Massachusetts, where its smoldering financial crisis…

Do’s and dont’s on packing a lunchbox Do’s and dont’s on packing a lunchbox 04:55 A range of white confectionary products sold nationwide is being recalled because the treats could be contaminated with salmonella, a potentially dangerous bacteria, an Iowa company said Monday.  The recalled items were sold in retailers including Dollar General, HyVee, Target and Walmart, Sioux City-based Palmer Candy stated in a recall notice. Image of recalled snack. U.S. Food and Drug Administration The company was notified by its liquid coating supplier that there was potential for contamination from an ingredient potentially tainted with salmonella by one of…

What to expect at the 2024 Met Gala What to expect at the 2024 Met Gala 02:14 The Condé Nast union said Monday it has reached a tentative labor agreement with the publisher’s management just hours ahead of the Met Gala, which is chaired by Anna Wintour, the company’s global chief content officer and editorial director.  The agreement, which still needs to be ratified by union members, was reached after months of bitter negotiations had failed to yield the first labor contract for employees at the New York media company. Union members had been poised to picket the Met Gala at…

How the IRS is using artificial intelligence to make sure people aren’t playing the system How the IRS is using artificial intelligence to make sure people aren’t playing the system 02:08 The IRS says it is about to ramp up audits as it cracks down on tax cheats and seeks to deliver more revenue into the U.S. Treasury’s coffers. But not every group of taxpayers will face more scrutiny, according to IRS commissioner Danny Werfel.  The IRS has been bolstered by $80 billion in new funding directed by the Inflation Reduction Act (IRA), which was signed into law in 2022…

The history of Italian Beef The history of Italian Beef 03:13 A food distributor in Pennsylvania is recalling about eight tons of ground beef because the meat might contain E. coli.  Packages of the beef, produced last month by Cargill Meat Solutions, were shipped to Walmart locations nationwide, according to a recall notice from the U.S. Department of Agriculture. There have been no confirmed reports of anyone being harmed from eating the beef, the agency said. Officials at Cargill Meat reported the possible contamination “after they identified that previously segregated product had been inadvertently utilized in the production of ground…

Warren Buffett’s Berkshire Hathaway gathered for its first annual meeting in an Omaha arena on Saturday, bringing together shareholders for the first time since the death of longtime vice chairman and right-hand man Charlie Munger.  Tens of thousands of shareholders filled the arena eager to vacuum up tidbits of wisdom from billionaire Buffett, who famously dubbed the meeting “Woodstock for Capitalists” and to pay tribute to Munger, who died at 99 in November.  The meeting opened with a video tribute to Munger recounting his life and highlighting some of his best known quotes from the meetings over the years that drew…

Taste It Tuesday: Candied fruit Taste It Tuesday: Candied fruit 02:49 Walgreens is now a candy destination, thanks to TikTok. The pharmacy chain said it is ramping up production of Walgreen’s Nice! Gummy Mango peelable candy, and limiting online sales to one bag per customer due to high demand for the squishy treats, fed by social media. Walgreens Nice! brand Gummy Mango peelable candy and Gummy Burst Pineapple. Walgreens Part of the retailer’s lower-priced Nice! house brand of snacks and drinks, the miniature versions of mango fruit —which sells for $1.99 a bag — first appeared in September 2023 in…

BF Borgers, the independent accounting firm for Trump Media & Technology Group, is facing allegations of “massive fraud” from the Securities and Exchange Commission, which on Friday claimed the auditor ran a “sham audit mill” that put investors at risk.  The SEC said Borgers has been shut down, noting that the company agreed to a permanent suspension from appearing and practicing before the agency as accountants. The suspension is effective immediately. Additionally, BF Borgers agreed to pay a $12 million civil penalty, while owner Benjamin Borgers will pay a $2 million civil penalty. Neither the SEC statement nor its complaint…