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New York City has led the US with the sharpest increase in the number of reported shoplifting incidents since before the pandemic, according to a study.

The Big Apple saw a 64% increase in reported incidents of retail theft during the four-year period between mid-2019 and June of this year, while Los Angeles experienced a 61% surge in the same metric, according to the Council on Criminal Justice.

Despite the spike in reported shoplifting incidents, New York City saw an 8% decrease in the first half of 2023, according to the study.

A New York Police Department spokesperson pointed to crime statistics showing that there were more than 93,000 incidents of petty larceny so far this year — which is 29% higher compared to the same period two years ago but 5% lower compared to the same period last year.

LA, meanwhile, saw a 109% increase in reported retail theft incidents in the first six months of this year — the highest in the country, the report found.

Dallas was second with a 73% bump in the number of reported shoplifting incidents in the first half of 2023.

Virginia Beach, Dallas, Raleigh, Boston, and Pittsburgh are the other cities that saw a spike in the number of shoplifting incidents that were reported over the course of the last four years — although their gains were well short of those in New York and LA, the report found.

The analysis was put together using data gleaned from law enforcement agencies or city websites as well as statistics from the National Incident-Based Reporting System.

The analysis, which examined shoplifting data in 24 cities where police publish data on retail theft, found that shoplifting reports were 16% higher — about 8,450 more incidents — during the first half of 2023 compared to the first half of 2019.

With New York excluded from the sample, however, the number of incidents among the study cities was 7% lower — about 2,550 fewer incidents.

A surge in shoplifting has forced retail locations nationwide to train security cameras on product shelves containing socks and men’s underwear while locking up items such as electric toothbrushes and razors in hopes of combating the surge in shoplifting.

The authors of the Council on Criminal Justice study caution that it is unclear what lies behind the trends, though “bail reform is one possible explanation.”

Another factor contributing to the increased reportage of shoplifting incidents is the change in the rate which retailers contact law enforcement.

Shoplifting, especially smash and grab episodes caught on video, has received extensive attention from the media and policymakers, and retailers have cited theft concerns in closing stores and placing goods in locked cases, said CCJ Research Specialist Ernesto Lopez, co-author of the report.

Far better data from law enforcement and the retail industry data is needed to help strengthen our grasp of shoplifting trends. For now, its unclear if the increase is a result of increased shoplifting, increased reporting from businesses to police, or a combination of both.

In 2019, New York State approved sweeping changes aimed at keeping defendants who cant afford bail from being disproportionately jailed.

But those changes have been tweaked twice before amid criticism that judges were being deprived of a tool they could use to hold people likely to commit new crimes.

In April, Gov. Kathy Hochul announced that judges will have more discretion to jail people awaiting trial for alleged crimes — a policy change fiercely resisted by some of her fellow Democrats.

A recent report by the National Retail Federation, a trade group representing US retailers, said that chains had lost $112 billion due to a wave of organized theft rings in New York, San Francisco, LA, and Houston last year — up from $93.9 billion in 2021.

Target said earlier this year that it expects to suffer as much as a $1.3 billion hit to its bottom line because of theft and organized crime.”

The latest police statistics show that rates of burglary and grand larceny have fallen so far this year compared to the same period in 2022.

To date, burglary in the five boroughs has fallen 13.2% since the start of the year compared to the same period last year while grand larceny has dropped 3.3%.

Incidents of robbery have also decreased in number, according to the New York Police Department.

Since the start of the year, there have been a reported 14,159 incidents of robbery — down nearly 5% compared to the same period last year.

San Francisco and Seattle saw the two biggest drops in the number of retail theft incidents between January and June of this year, according to the research.

Analysts found there was a 35% decrease in the number of reported shoplifting incidents in the Bay Area, where several high-profile thefts were caught on camera.

Seattle, meanwhile, saw a 31% drop during the same period.

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Crypto prices rally after Trump names Bitcoin and others for US strategic reserve

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Crypto prices rally after Trump names Bitcoin and others for US strategic reserve

Cryptocurrency prices have jumped after Donald Trump revealed he would like Bitcoin and other lesser-traded tokens to be in a new US strategic crypto reserve.

He said his January executive order on digital assets would create a stockpile of currencies including Bitcoin, Ethereum, XRP, Solana and Cardano (ADA).

The names had not previously been announced.

The American president said in a post on Truth Social: “A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.”

“I will make sure the US is the Crypto Capital of the World.”

“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve,” he said in a follow-up post. “I also love Bitcoin and Ethereum!”

Bitcoin, the world’s largest cryptocurrency by market value, rose over 11% to $94,164 after Sunday’s announcement.

Ethereum, the second-largest cryptocurrency, was up around 13% at $2,516.

XRP surged 33% while the token tied to Solana jumped 25%. Cardano’s coin soared more than 60%.

Bitcoin was trading up around 20% from last week’s lows.

President Trump signed an executive order on cryptocurrencies in January. Pic: Reuters
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US President Donald Trump signed an executive order on cryptocurrencies in January. Pic: Reuters

The total cryptocurrency market rose about 10%, or more than $300bn (£238bn), in the hours since the announcement, according to cryptocurrency data and analysis company CoinGecko.

This is the first time Mr Trump has specified his support for a crypto “reserve” rather than a “stockpile”. While the former assumes actively buying crypto in regular installments, a stockpile would not sell any of the crypto currently held by the US government.

Mr Trump is hosting the first White House Crypto Summit on Friday, and investors will be watching closely for more clues about the direction of the reserve plans.

His family have also launched their own coins, including his wife Melania.

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Mr Trump first introduced the idea of a Bitcoin stockpile, which would “keep 100% of all the Bitcoin the US government currently holds or acquires into the future” last summer at major industry conference Bitcoin 2024 in Nashville.

After his re-election to the White House in November, there were more calls for a strategic Bitcoin reserve, helping to send the price of the flagship cryptocurrency to new all-time highs.

Under his Democratic predecessor, Joe Biden, regulators cracked down on the industry in an attempt to protect Americans from fraud and money laundering.

Under Mr Trump, the Securities and Exchange Commission has withdrawn investigations into several crypto companies and dropped a lawsuit against Coinbase, the largest crypto exchange in the US.

But in recent weeks, crypto prices have fallen sharply, with some of the biggest digital currencies erasing nearly all of the gains made after Mr Trump’s election win triggered excitement across the industry.

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Technology

Chinese EV startup Xpeng delivers over 30,000 cars for a fourth straight month

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Chinese EV startup Xpeng delivers over 30,000 cars for a fourth straight month

The flagship store of Xiaopeng Motors in Shanghai, China, on Feb. 18, 2025.

CFOTO/Future Publishing via Getty Images

Chinese electric car company Xpeng delivered more than 30,000 cars for a fourth-straight month in February, as its mass-market brand helped the company stand out in an otherwise tepid market.

Xpeng delivered 30,453 cars last month, including more than 15,000 units of its lower-priced Mona vehicle, the company said over the weekend.

Deliveries of the Mona M03, which include a basic driver-assist system, have topped 15,000 a month since December, according to company figures. Xpeng also said strong demand for driver-assist propelled deliveries of its P7+ electric sedan to more than 30,000 less than three months since its launch in November.

Looking ahead, Xpeng’s planned new vehicles also give the company “a good chance to extend its solid delivery momentum,” Nomura analysts said in a Sunday note.

The January to February period tends to be seasonally soft for Chinese car sales since it coincides with the week-long Lunar New Year, the country’s biggest holiday of the year. The local auto market remains highly competitive as traditional automakers and new entrants have rushed to cut prices and launch vehicles with new tech features.

China's EV overcapacity is a bigger issue for Japanese automakers than Korean ones

Chinese smartphone company Xiaomi delivered more than 20,000 electric cars for a fifth straight month in February. The company last week slashed the starting price of its luxury electric sedan, the SU7 Ultra, to 529,900 yuan ($72,750), down from 814,900 yuan ($111,878).

The SU7’s “new order situation is even better than actual sales,“ Nomura analysts said, citing its own industry survey. That means the only challenge for Xiaomi is its ability to produce enough cars, the analysts said.

Figures on Tesla‘s China deliveries are typically released around the middle of the month.

Industry giant BYD reported 318,233 new energy vehicle passenger car sales in February, up slightly from the prior month. The company last month announced it was rolling out driver-assist across a range of its cars and integrating artificial intelligence from DeepSeek.

Geely-owned Zeekr delivered 14,039 units in February, up from the 11,942 delivered the previous month, according to company figures.

EV brands that struggled in February

However, deliveries of several other major Chinese electric car brands declined over that time.

Li Auto deliveries fell to 26,263 units last month, from 29,927 in January, according to the company. Its premium-priced vehicles have been popular with Chinese consumers since they come with a fuel tank for extending the battery’s driving range. Last month, Li Auto revealed the exterior design of its first fully battery-electric SUV.

Nio deliveries dropped to 13,192 units in February, down from 13,863 the month before. The company announced a five-year, 0% interest plan on Feb. 1 in a bid to boost sales.

Aito, the Seres-owned brand that uses Huawei technology, reported its lowest deliveries in a year, at 21,517 units in February, according to CNBC analysis of publicly available figures.

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Politics

Uphold relaunches crypto staking in the US amid regulatory shifts

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Uphold relaunches crypto staking in the US amid regulatory shifts

Uphold praised crypto-aware regulators in the US as the company relaunched its staking offering in the country after halting the service in 2023.

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