Mar 1, 2017

Uber CEO apologizes for rude treatment of driver

Jeff Chiu / AP

On Tuesday, Bloomberg published a video recording showing Uber CEO Travis Kalanick arguing with the driver of his Uber Black ride over the company's pricing strategy. The exchange ended with Kalanick suggesting the driver is blaming others for his financial mistakes before exiting the vehicle.

Later on Tuesday, Kalanick sent the following email to the entire company:

Team -By now I'm sure you've seen the video where I treated an Uber driver disrespectfully. To say that I am ashamed is an extreme understatement. My job as your leader is to lead...and that starts with behaving in a way that makes us all proud. That is not what I did, and it cannot be explained away.It's clear this video is a reflection of meβ€”and the criticism we've received is a stark reminder that I must fundamentally change as a leader and grow up. This is the first time I've been willing to admit that I need leadership help and I intend to get it.I want to profoundly apologize to Fawzi, as well as the driver and rider community, and to the Uber team.Travis

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Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.