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Wells Fargo CEO Tim Sloan is retiring, and shares jump

Tim Sloan, who took over as chief executive of the bank in October 2016, is resigning as CEO immediately, the bank said Thursday in a release. The bank's general counsel, Allen Parker, will take over as interim CEO, and the bank is searching externally for a permanent successor.

Proble...

A slew of CEOs charged in college entrance cheating scam

Two high-profile actresses and a slew of top business executives, including a former head of Pimco and a founder of Hercules Capital, were among more than 40 people charged in a $25 million cheating scheme to help wealthy students to gain admission to top colleges, law enforcement officials sa...

Tesla is closing stores, shifting all sales online

The move to e-commerce only will require Tesla to reduce headcount in sales, CEO Elon Musk confirmed. It should also help Tesla cut some operating expenses, and avoid dealing with local politics that have prevented it from operating its own stores (dealerships) in certain states including Conn...

Job growth surges by 312,000 in December

Job creation ended 2018 on a powerful note, with nonfarm payrolls surging by 312,000 in December though the unemployment rate rose to 3.9 percent.

The jobless rate, which was last higher in June, rose for the right reason as 419,000 new workers entered the workforce and the labor force...