Business News Roundup, Oct. 26

Newly appointed Wells Fargo CEO Tim Sloan told employees Tuesday that he is “sorry for the pain” that the bank’s employees have suffered as a result of the company’s sales practices scandal. Sloan’s company-wide speech, given in Charlotte, N.C., is the latest effort by Wells Fargo’s executives to atone for the fact that the bank’s employees, pushed to the limit by impossible sales goals, opened as many as 2 million bank and credit card accounts without customers’ authorization. In the speech, Sloan acknowledged that the bank did not respond to the problems in its branches soon enough, and that upper management dodged responsibility for the bad behavior and wrongly placed blame on branch employees. Wells fired roughly 5,300 employees as a result of the scandal, the vast majority of them lower-level workers. The bank faces several class-action lawsuits, as well as criminal investigations by the Department of Justice and the California attorney general’s office. Chipotle said sales fell for the fourth straight quarter, as the company struggles to win back customers after an E.

More Business News

10 of the best national parks to visit in the summer, and 2 to avoid, according to a couple who have been to all 63
Business Insider, Sunday - 05/05/2024 - 05:38 PM
Matt and Karen Smith visiting Glacier National Park. Courtesy of Matt and Karen Smith. A Gen X couple who has been to all 63 national parks says some are better than others in the summer. Matt and Karen Smith would avoid parks like Death Valley because of killer summer temperatures.
More | Talk | Read It Later | Share
Downtown Los Angeles is bustling with new residents. Not so much with office workers, though.
Business Insider, Sunday - 05/05/2024 - 05:20 PM
Downtown Los Angeles. ANDREY DENISYUK/Getty ImagesLos Angeles' downtown has become a hot spot for residential growth in the city. The neighborhood's office market, however, continues to languish. Downtown LA is expected to be a major draw for residential living over the next few decades. For generations, downtown Los Angeles was the region's nexus of commerce, as vast office spaces and old-line department stores made the neighborhood a business powerhouse.
More | Talk | Read It Later | Share
Here's the 'true solution' to the problem of audio deepfakes, according to the CEO of ElevenLabs
Business Insider, Sunday - 05/05/2024 - 04:09 PM
ElevenLabs cofounders Mati Staniszewski (left) and Piotr Dabkowski (right) built a unicorn just a year after launching in beta. ElevenLabsAI voice tech company ElevenLabs is grappling with deepfakes. The technology, while innovative, has the potential for misuse, leading to concerns from lawmakers. ElevenLabs CEO said digitally watermarking synthetic voices is a solution.
More | Talk | Read It Later | Share
Hard Rock leans into F1's luxury image, selling $200 baskets of wings at the Miami Grand Prix ($400 for added caviar)
Business Insider, Sunday - 05/05/2024 - 03:52 PM
Hard Rock Stadium in Miami, Florida. Clive Rose - Formula 1/Getty ImagesThe third-annual Miami Grand Prix is taking place this weekend. The Hard Rock Beach Club featured high-priced items, like a $280 Maine lobster roll, for the event. Formula 1 has a reputation for luxury and spectacle. Luxury was on full display during the Miami Grand Prix, especially at the Hard Rock Beach Club, where an order of wings cost nearly $200.
More | Talk | Read It Later | Share
Ex-GOP Rep. Ken Buck says he wanted to leave Congress 'about three weeks' after he arrived: 'It took me a long time to figure ou
Business Insider, Sunday - 05/05/2024 - 03:28 PM
Former Colorado Rep. Ken Buck. Anna Moneymaker/Getty ImagesOnetime Rep. Ken Buck didn't have a very good impression of Capitol Hill upon his arrival in 2015. Buck told The New York Times that he wanted out of Congress "about three weeks" into the role. But the ex-congressman remarked that it took him a while to map out a plan to leave the House.
More | Talk | Read It Later | Share
Bitcoin trader loses almost $70 million after sending crypto to wrong online account address
Business Insider, Sunday - 05/05/2024 - 03:24 PM
A crypto trader lost nearly $70 million in an "address poisoning" scam. Business InsiderA cryptocurrency trader lost nearly $70 million in an 'address poisoning' scam. Scammers made spoof accounts to trick the victim into sending funds to the fake address. Crypto-related scams are on the rise, costing investors almost $4 billion last year, the FBI says.
More | Talk | Read It Later | Share

Business News Roundup, Oct. 26

Welcome to Wopular

MoviesWithButter : Our Sister Site

More Business News