American Airlines flight attendants, Nvidia's stock surge, Wells Fargo workers fake it: Business news roundup
American Airlines flight attendants say they’re sleeping in cars because they can’t afford the cost of living
Modern air travel is often terrible. Cramped seats, tiny luggage compartments — the list goes on. Yet, most of us in those cramped seats actually have it far better than the folks strolling the aisles, who — at least on American Airlines flights — earn barely over $27,000 per year while forced to live in major metro areas, often sleeping in their cars to make up the cost difference.
Nvidia’s stock surge means its employees are worth more than $100 million — each
The generative artificial intelligence boom has propelled chipmaker Nvidia to new highs, including entry to the $3 trillion market cap club. With an employee count just shy of 30,000, each of its employees is now worth over $100 million.
Wells Fargo fired more than a dozen employees for faking keyboard activity
Wells Fargo found that some of its employees were pretending to work — and sent them packing.
More than a dozen employees in the bank’s wealth and investment management divisions were discharged last month “after review of allegations involving simulation of keyboard activity creating impression of active work,” Bloomberg reported citing disclosures filed with the Financial Industry Regulatory Authority (FINRA).
BMW is slashing the price of its hybrid SUV XM up to $20,000 as drivers stay away
After showing a near production ready concept in 2021, BMW debuted the XM to gasps in 2022. It looked like nothing else on the road. Just over two years on the market and something about the XM seems to keep buyers away, so much so that BMW is throwing some big discounts on the hood to try and move some of these performance plug-in hybrids.
Johnson & Johnson will pay $700 million to settle talc baby powder case
Johnson & Johnson has agreed to pay $700 million to settle a multistate case regarding the marketing of its baby powder products that contained talc and are believed to have harmed consumers.
Elon Musk wants SpaceX’s Starship to land on the Moon, Mars — and Uranus
Starship, a fully reusable megarocket developed by SpaceX, has completed just four live tests and broken the Earth’s atmosphere. But founder Elon Musk is shooting far above that — past the Moon, past Mars, and onto Uranus.
Boeing sold only 4 new planes last month — and zero 737 Max jets
Boeing is still having a rough go of things as it tries to build itself back up after its door-plug blowout scandal. The Associated Press reported Tuesday that the plane maker only recorded four new orders for its passenger jets in May, with none of them being for the company’s 737 Max moneymakers. That would be the second month in a row in which that model received no new orders.
FedEx is laying off up to 2,000 employees
FedEx is looking to lay off thousands of workers across its back-office and commercial teams in Europe, the delivery giant said in a statement on Wednesday.
Novo Nordisk could surpass LEGO as Denmark’s most valuable brand very soon
Brand Finance’s annual list of Denmark’s 50 most valuable brands put the Ozempic maker in the second spot
Apple’s AI plans leave a golden path for Google, analysts say
On Monday, Apple confirmed its widely-anticipated partnership with OpenAI to bring ChatGPT to its next generation of devices later this year