Former Wells Fargo CEO, Timothy Sloan, has filed a lawsuit against the bank seeking $34 million in damages for alleged contractual violations related to his departure from the company in 2019 amidst a fake-account scandal. Sloan claims that Wells Fargo used him as a scapegoat, despite his lack of involvement in the sale-practice abuses, and disregarded his efforts to address … [Read more...] about Former Wells Fargo CEO Timothy Sloan Sues Company for $34 Million
Bitcoin and Gold Rally on Fed Rate Cuts
Introduction The Role of the Federal Reserve Mark Connors, director of research at digital asset-management company 3iQ, explains that both assets rallied due to optimism surrounding the Federal Reserve's monetary policy. Many investors believe that the Fed is nearing the end of its rate hike cycle and could potentially start cutting its key policy rate as early as March next … [Read more...] about Bitcoin and Gold Rally on Fed Rate Cuts
TuSimple Cuts Workforce by 75% as Company Refocuses on Asia
Introduction Autonomous-truck company TuSimple Holdings Inc. announced that it will be winding down its U.S. operations and reducing its workforce by 75%. The decision comes after a challenging year for the San Diego-based company. TuSimple plans to sell its U.S. assets as it refocuses its efforts on Asia. Workforce Reduction and Asset Sale TuSimple will be laying off … [Read more...] about TuSimple Cuts Workforce by 75% as Company Refocuses on Asia
AT&T Strikes $14 Billion Deal with Ericsson for Network Equipment
AT&T, one of the leading telecom companies in the United States, has recently entered into a significant agreement with Ericsson, a Swedish supplier of network equipment. The deal entails AT&T purchasing up to $14 billion worth of equipment from Ericsson over a span of five years. This development is a part of AT&T's ambitious plan to establish a commercial-scale … [Read more...] about AT&T Strikes $14 Billion Deal with Ericsson for Network Equipment
Canada’s Reserves Increase by $2.9 Billion in November
Canada's official international reserves experienced a significant boost in November, according to the federal finance department. The country's reserves of foreign currencies and other monetary assets reached $115.44 billion as of November 30, up from $112.54 billion the previous month. No Intervention or Gold Holdings During the month of November, the Canadian government did … [Read more...] about Canada’s Reserves Increase by $2.9 Billion in November
