December 8, 2024, 2:41 am

Macy’s Employee Conceals Over $130 Million in Costs, Delays Company’s Financial Report

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  • Update Time : Tuesday, November 26, 2024

Elon Musk Takes On WSJ Over Post of His Tesla Making Environment Dirtier, Says ‘Legacy Media Is a Sewage Pipe of Lies’

Elon Musk’s Official Account on X,

Elon Musk has responded to a Wall Street Journal post claiming Tesla harms the environment, describing legacy media as a “sewage pipe of lies.” The tech billionaire lashed out after the news outlet published an article suggesting that Tesla’s environmental impact is negative. Musk dismissed the claims, highlighting the disconnect between such reports and Tesla’s goals to promote sustainable energy. The statement came amidst growing criticism of traditional media’s reporting on high-profile tech figures. Musk has long been a critic of legacy media, frequently using social media to challenge negative narratives.

Australia Social Media Ban: Google and Meta Urge Country’s Government To Delay Banning Services for Children Under 16, Says Need More Time To Assess Impact

 CNN,

In Australia, Google and Meta have urged the government to delay its proposed ban on social media for children under 16, citing the need for further evaluation. The proposed regulations are part of an ongoing push to protect young users from harmful content and online predators. Both tech giants argue that more time is necessary to assess the potential impacts of such a sweeping measure. The ban, which could significantly alter the social media landscape, has raised concerns about access to information and freedom of expression. These companies are seeking a more balanced approach to protect children while preserving the benefits of digital platforms.

The UN Climate Summit Ends in Discontent and Accusations of Betrayal: COP29’s Bitter Conclusion Raises Fears for the Future

 CNN,

The COP29 climate summit in Baku, Azerbaijan, concluded with bitter disputes and accusations of betrayal, as wealthier nations failed to meet expectations set by developing countries. Despite promises to combat the climate crisis, the final agreement fell short, with rich nations pledging just $300 billion annually by 2035, well below the $1.3 trillion deemed necessary. Critics argue that the summit’s outcomes demonstrate the decline of the COP process, with some experts fearing its potential collapse. The climate finance deal was labeled an insult by developing nations, underscoring the growing dissatisfaction and concerns over multilateral climate action’s efficacy.

Gold Prices Drop 3% Amid Trump’s Treasury Pick and Possible Israel-Hezbollah Ceasefire

 CNBC,

Gold prices plummeted by 3% following the announcement of Scott Bessent as President-elect Donald Trump’s Treasury secretary, coupled with reports of a potential ceasefire between Israel and Hezbollah. The combination of these events fueled a “risk-on” sentiment in the market, diminishing gold’s appeal as a safe-haven asset. Investors reacted positively to the possibility of reduced geopolitical tensions, while market analysts noted that the sharp decline in gold prices reflected both the announcement and the broader market’s expectations for economic stability. Despite this drop, experts remain optimistic about gold’s long-term trajectory, predicting a potential rebound in 2025.

NATO Commander Warns Europe Must ‘Wake Up’ to Arms Race Amid Growing Threats

 Politico,

NATO’s Supreme Allied Commander, Admiral Pierre Vandier, has warned Europe to accelerate its defense preparedness in light of increasing threats from Russia and other geopolitical pressures. In a stern message to European leaders, Vandier emphasized the urgency of investing in military capabilities to avoid falling behind in the ongoing arms race. With the looming uncertainty surrounding the U.S. under President-elect Donald Trump, NATO’s focus on strengthening its defense posture becomes even more critical. The admiral’s comments reflect a broader European concern over security in the face of Russia’s continued military aggression and the shifting dynamics of global power.

James Webb Space Telescope Breaks Records in Discovering the Earliest Galaxies

Space.com,

The James Webb Space Telescope (JWST) has potentially shattered its own records with the discovery of five galaxy candidates that may represent the earliest galaxies observed. These galaxies are located so far away that their light has been traveling for over 13.6 billion years, making them some of the most distant objects ever detected. While the discovery is still under confirmation, the implications of this find could reshape our understanding of galaxy formation. The data suggests that these galaxies existed just 200 million years after the Big Bang, providing a rare glimpse into the universe’s infancy and the processes that shaped the cosmos.

China’s New Sky-High Attraction: Mount Qixing’s ‘Sky Ladder’ Offers Thrill-Seeking Tourists a Unique Adventure

 CNN,

Mount Qixing in China has unveiled a new, daring tourist attraction known as Tianti (“Sky Ladder”). This 551-foot long climbing route stretches between two cliffs at a height of 5,000 feet, providing thrill-seekers with a vertigo-inducing experience. Located in the Zhangjiajie Nature Park, the via ferrata-style trail features steel handrails, footrests, tethers, and cables to assist climbers. The attraction has rapidly gained popularity, drawing an average of 1,200 visitors per day. Despite the fear it induces, tourists, including local adventurers like He Qian, are captivated by the challenge, posting viral videos of their sky-high experiences. The adventure costs about $80 for a guided climb, adding to China’s growing list of extreme outdoor experiences.

Macy’s Employee Conceals Over $130 Million in Costs, Delays Company’s Financial Report

 BBC News,

Macy’s has uncovered a financial scandal involving a rogue employee who concealed more than $130 million in costs over a three-year period. The company has delayed its quarterly sales report as it investigates the incident. The employee, who was responsible for tracking small package delivery expenses, intentionally manipulated accounting entries to hide the costs. Although the amount concealed was small compared to Macy’s overall expenses, the incident has raised serious concerns. The company has assured that the issue will not affect payments to other firms, and the employee responsible has been dismissed. Macy’s faces further challenges as it enters the holiday shopping season amid declining sales and increased competition.

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