Crews made railroad repairs in Los Angeles Monday after a train derailed near the location where thieves have been raiding cargo containers, leaving the tracks littered with emptied boxes of packaged good sent by retailers.
It wasn't immediately clear if the derailment that happened Saturday was caused by the debris left behind by thieves in the Lincoln Heights area near downtown Los Angeles. Union Pacific said the cause of the derailment was under investigation.
The derailment caused 17 train cars to go off the tracks, Union Pacific said in a statement. No injuries were reported.
Cargo containers aboard trains have been targeted by thieves for months, authorities said. The stolen packages are from retailers including Amazon, REI and others, the CBSLA television newscast reported last Thursday.
Union Pacific said in a statement to CBSLA that the railroad was concerned about increased cargo thefts in California.
“We have increased the number of Union Pacific special agents on patrol, and we have utilized and explored additional technologies to help us combat this criminal activity. We also will continue to work with our local law enforcement partners and elected leaders,” the railroad company said.
Amazon said it was directing inquiries to police. The United Parcel Service declined to comment on investigations into the cargo thefts but said the company was cooperating with authorities.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
Tyson Foods is recalling about 30,000 of its dino-shaped chicken nuggets after some consumers reported finding small metal pieces in those nuggets.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
Before the SAG-AFTRA strike, this was the weekend “Dune: Part Two” was supposed to open. When Warner Bros. and Legendary pushed that opening back to March 2024 and no other blockbuster stepped in to take its spot.
A growing number of Californians are planting agave to be harvested forz use in spirits. The trend is fueled by the need to find hardy crops that don’t need much water and a booming appetite for premium alcoholic beverages.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we highlight Paramount, Maersk, Starbucks, Uber, Lyft and Beyond Meat.
With Donald Trump due on the witness stand next week, testimony from his adult sons in his civil business fraud trial wrapped up Friday with Eric Trump saying he relied completely on accountants and lawyers to assure the accuracy of financial documents key to the case.
Load More