UnitedHealth Group Agrees to $69 Million Settlement in 401(k) Lawsuit
UnitedHealth Group has reached a $69 million settlement in a class-action lawsuit over its 401(k) plans, following allegations of providing subpar options to employees. The case, led by Kim Snyder, highlights the importance of fiduciary responsibility and transparency in corporate retirement plans. This landmark settlement could impact over 300,000 employees and set a precedent for how companies manage retirement offerings.
Wells Fargo Boosts Las Vegas Sands Price Target Amid Positive Market Outlook
Wells Fargo has raised its price target for Las Vegas Sands (LVS) from $53 to $60, citing positive market trends and strategic initiatives. With Macau’s gaming revenue rising and the opening of the Londoner casino coinciding with peak travel, LVS is positioned for significant growth. Analysts are optimistic about LVS’s future, making it an attractive investment option in the gaming sector.
Wells Fargo Fires Employees for ‘Simulation of Keyboard Activity’ Scandal
Wells Fargo recently fired employees for ‘simulation of keyboard activity’ to appear productive while not working. The use of devices to mimic mouse or keyboard activity raises concerns about employee misconduct in remote work settings. Major financial institutions like Bank of America and Goldman Sachs are enforcing strict remote work policies to ensure transparency and integrity in virtual work environments.
Costco’s Gold Bar Sales Surging, Bringing in $200 Million Monthly
Costco’s foray into the gold market has been a massive success, with the retail giant estimated to be raking in as much as $200 million per month from its gold bar sales. The demand for 1-ounce gold bars has been so robust that the sales are now being described as a ‘cash cow’ for the company. Despite the surge in revenue, the impact on bottom-line profit is limited, but gold bars are proving to be a lucrative investment for Costco in the current economic climate.
Wells Fargo Regains Regulatory Approval
Wells Fargo’s primary regulator lifts penalty related to 2016 fake accounts scandal, causing shares to surge. CEO Charlie Scharf calls it a ‘milestone’ for the bank, as the fallout from the scandal tarnished its reputation and led to the departure of two CEOs.