Cheddar Afternoon Business Report 10/03: Wells Fargo grill, Uber in London, ‘Placer’ appPosted: Updated:
Wells Fargo’s chief executive Timothy Sloan was on Capitol Hill today. Lawmakers say the bank hasn't done enough to fix problems that led to a massive accounts scandal, when the bank opened millions of fake accounts without customer permission. Sen. Elizabeth Warren, who has been critical of Wall Street before told Sloan he should be fired.
Uber may not have to pull its service from London after all. Uber's new CEO headed to London to meet with the city's transport commissioner after the city pulled Uber's license. Uber says it will do whatever it takes to make things right and will appeal the decision. The Transport of London was critical of Uber for not doing driver background checks.
There's a new app called “Placer” where people can hire line sitters to wait on line at some of the trendiest bakeries, bagel stores or even for tickets to a show. The placer alerts the jumper when they're near the front of the line and the jumper cuts in. According to the New York Post, line sitters make an average of $45 per job.
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- Harley-Davidson is putting its electric bike on pause.
- A big shakeup at Boeing: Dennis Muilenburg will remain CEO but will lose his chairman title on Friday.
- Uber and Lyft are suing New York City over a rule that limits the time drivers can cruise without passengers.