Wells Fargo reportedly handed more than a dozen employees pink slips last month after an investigation found they were faking work. Bloomberg first reported Thursday that, according to the bank's disclosures to the Financial Industry Regulatory Authority, the workers — all from the firm's wealth and investment management unit — were "discharged after review of allegations involving simulation of keyboard activity creating impression of active work." A spokesperson told Reuters in a statement "Wells Fargo ho ...

The Supreme Court on Thursday issued a ruling that sided with coffee giant Starbucks in its challenge against a lower court's order that it rehire seven employees who had been fired amid a unionization push. In an 8-1 decision, the justices threw out the lower court's approval of an injunction sought by the National Labor Relations Board (NLRB) that ordered Starbucks to reinstate the workers while the NLRB's administrative case against the coffee chain proceeds.The case concerned a group of seven workers at ...

Tesla shareholders are set to decide whether to reinstate CEO Elon Musk's $56 billion pay package at the electric vehiclemaker's annual shareholder meeting on Thursday. Musk's compensation package, which is believed to be the largest of any CEO of a publicly traded company in the U.S., was voided by a Delaware judge after finding that Tesla's board didn't adequately disclose its members' relationships to Musk and that the company was on pace to achieve most of the performance-based package's benchmarks.In t ...

Apple reclaimed the title of the world's most valuable company from tech rival Microsoft during Wednesday's trading session, after the iPhone-maker unveiled new artificial intelligence (AI) initiatives this week. Apple stock rose by 5% to about $217.50 a share as of early Wednesday afternoon after its market valuation rose above $3.29 trillion earlier in the day's trading session. By comparison, Microsoft's market capitalization was $3.24 trillion, putting it behind Apple for the first time in five months. ...

A Vietnamese tourist was caught on camera walking through Ninoy Aquino International Airport (NAIA) security naked after police sought payment from her for overstaying her visa. The incident involving the 34-year-old happened at the airport in Manila, Phillipines, on Saturday, according to Thailand-based media outlet Viral Press. At least two Filipino media outlets – The Manila Times and Journal Online – identified the woman as Thuytrang Nguyen and said she was headed for Ho Chi Minh, Vietnam, when she stri ...

Major retailers Target and Dick's Sporting Goods will both face criticism over "woke" policies at their respective shareholder meetings on Wednesday, as activist investors ramp up pressure on companies amid raging culture wars in the U.S. The National Center for Public Policy Research (NCPPR), a conservative think tank, plans to present proposals for a vote at each company, aimed at preventing the boards from making hyper-political decisions in the future, arguing that they have taken controversial position ...

General Motors said Tuesday its board approved a fresh repurchase authorization to buy back up to $6 billion worth of the automaker's common stock, a month after beating Wall Street estimates in the first quarter on strong demand for gas-powered vehicles. "We are very focused on the profitability of our ICE [internal combustion engine] business, we're growing and improving the profitability of our EV [electric vehicle] business and deploying our capital efficiently," GM executive vice president and CFO Pau ...

A historic Michigan landmark got a face lift thanks to Ford Motor Company after sitting vacant for over three decades. Michigan Central Station, which became an "infamous symbol of Detroit," was bought by Ford in 2018. Over the past six years, 3,100 skilled-trades people worked 1.7 million hours to completely restore the station, so it could house the automaker's autonomous vehicle team as well as shops and restaurants that will be open to the public. The abandoned train station, which opened Thursday for t ...

Former Starbucks CEO Howard Schultz recalled the moment Apple founder Steve Jobs screamed in his face to fire his whole executive team.  Within six to nine months of that chat, most of them were gone, Schultz said during an episode on the podcast "Acquired."In 2008, Schultz – who wrapped up his third stint as CEO last year – recalled walking around Apple's campus with Jobs, venting to him about all his problems.  "He [Jobs] stopped me and said, ‘This is what you need to do… go back to Seattle and you fire e ...

Costco plans to stop selling books regularly at its wholesale clubs from January through August starting next year, the New York Times reported Thursday. Publishing executives told the outlet the retailer came to the decision, at least in part, because of the added cost for workers to stock the books, which are placed on tables for display, unlike other items that can simply be rolled out on pallets for customers to grab from. According to the outlet, the sources said Costco might still sell books on occasi ...