JPMorgan CEO Jamie Dimon delivered a harsh warning on U.S. banks in his annual shareholder letter, Richard Branson’s Virgin Orbit files for bankruptcy, oil gains continue after OPEC production cut and job openings lead economic data. FOX Business is providing real-time updates on the market, commodities and all the most active stocks on the move.
Posted by FOX BusinessA Tesla vehicle drives past Tesla's primary vehicle factory in Fremont, California, U.S. May 11, 2020. REUTERS/Stephen Lamto pay about $3.2 million to a Black former employee after the electric-vehicle maker was found to have failed to prevent severe racial harassment at its flagship assembly plant in California.
The verdict came after a week-long trial in the 2017 lawsuit by plaintiff Owen Diaz, who in 2021 was awarded $137 million by a different jury. He opted for a new trial on damages after a judge agreed with that jury that Tesla was liable but significantlyDiaz accused Tesla of failing to act when he repeatedly complained to managers that employees at the Fremont, California, factory frequently used racist slurs and scrawled swastikas, racist caricatures and epithets on walls and work areas.
The jury on Monday awarded Diaz, who worked as an elevator operator, $175,000 in damages for emotional distress and $3 million in punitive damages designed to punish unlawful conduct and deter it in the future.
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Richard Branson's Virgin Orbit, headquartered in Long Beach, slashing 85% of its workforceRichard Branson's Virgin Orbit, headquartered in Long Beach, will cut 675 jobs, about 85% of its workforce, with the satellite launch company finding it difficult to secure funding three months after a failed mission.
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Virgin Orbit's near future in 'substantial doubt' over cash position - filingRichard Branson's Virgin Orbit Holdings in a U.S. regulatory filing on Monday said there is 'substantial doubt' its cash position will allow it to continue operating for at least the next 12 months.
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Branson's Virgin Orbit files for bankruptcy, to seek buyerRichard Branson's Virgin Orbit Holdings filed for Chapter 11 bankruptcy on Tuesday after the satellite launch company failed to secure the long-term funding needed to help it recover from a January rocket failure.
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Virgin Orbit files for Chapter 11 bankruptcy protection in the U.S.Virgin Orbit on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline.
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Branson’s Virgin Orbit files for bankruptcy, to seek buyerVirgin Orbit went public in 2021 through a blank-check deal, raising $255 million less than expected.
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