Kraft Heinz misrepresented its financial results for years, SEC says
CBSN
Federal regulators said Friday that Kraft Heinz Co. will pay $62 million to settle charges of accounting wrongdoing that led the company to report overly rosy financial results, which were later corrected.
Two former senior executives of the food company agreed to pay civil penalties, the Securities and Exchange Commission said. The agency said that from late 2015 through 2018, Kraft boasted about cost savings that were actually unearned discounts and misleading reports about nearly 300 contracts with suppliers. The company's claims were widely picked up by Wall Street analysts, the SEC said, but in 2019 Kraft restated its financial results to correct $208 million in improperly recognized cost savings.
A Virginia man arrested on New Year's Day is facing multiple charges in connection with homemade explosives that were discovered in a suspected stolen vehicle, authorities said.
On Oct. 31, 2020, at around 5 a.m. Livye Lewis was found unresponsive in her car on the side of a road in Hemphill, Texas. Her ex-boyfriend, Matthew Edgar, said he had no memory of what happened to Lewis or how he ended up in the fetal position behind her car.
The State Department has informally notified Congress of a planned $8 billion weapons sale to support Israel's long-term security by resupplying stocks of critical munitions and air defense capabilities, a U.S. official familiar with the details confirmed to CBS News on Saturday.
Indie screenwriter and director Jeff Baena has died at 47 years old. Representatives for Baena's wife, "Parks and Rec" star Aubrey Plaza," directed CBS News to a report of Baena's death by Deadline.
The house made famous by the "Breaking Bad" TV series is up for sale, and the owners of the otherwise unassuming home in one of Albuquerque's older neighborhoods are hoping the property's role in the long-running series will help them fetch a pretty penny.
A major winter storm expected to produce heavy snow, significant ice and frigid temperatures was set to begin in the central U.S. on Saturday and move east over the next several days, according to the National Weather Service.
Six days of events honoring former President Jimmy Carter begin Saturday with a procession stopping in his hometown of Plains, Georgia, tributes at the state Capitol, and then a private service at the Carter Center in Atlanta, where his body will lie in repose until Tuesday.
Biden awards Presidential Medal of Freedom to Hillary Clinton, Michael J. Fox, Lionel Messi and more
Washington — President Biden is awarding the Presidential Medal of Freedom, the nation's highest civilian honor, to Hillary Clinton and 18 others "who have made America a better place," the White House announced Saturday.
President Biden on Monday is expected to sign into law legislation extending full Social Security benefits to nearly 3 million U.S. retirees, according to advocates for the measure.
As Winter Storm Blair threatens to disrupt travel for passengers traveling to or from dozens of U.S. airports this weekend, Airlines are taking steps to help travelers rebook scheduled flights without incurring change fees. The storm is expected to sweep across central and eastern U.S. states, bringing with it heavy snow and ice.
A man accused of long hiding a stolen pair of sequined ruby slippers that Judy Garland wore in "The Wizard of Oz" plans to plead guilty, his attorney confirmed Friday.