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Musk’s X Corp Reaches $500m Agreement to Settle Severance Pay Lawsuit Filed by Fired Employees

By
Samuel Nwite
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0

Elon Musk and his social media company X Corp have reached a tentative agreement to settle a lawsuit filed by former Twitter employees who said they were owed $500 million in severance pay.

Attorneys for X Corp and the former Twitter employees reported the deal in a Wednesday court filing, in which both sides asked a U.S. appeals court to delay an upcoming court hearing so that they could finalize a deal that would pay the fired employees and end the litigation. The financial terms of the deal were not disclosed.

Before he finalized the Twitter acquisition, Musk floated the idea of cutting the micro-blogging app’s workforce to 2,000. This he justified with a reference to WhatsApp’s 50 engineers. WhatsApp was said to have 35 engineers for 450 million users, and grew to a team of 50 for 900 million users at the time.

Musk fired approximately 6,000 employees after his 2022 acquisition of Twitter, which he rebranded as X. Several employees sued over their terminations and severance pay, and other lawsuits are still pending in courts in Delaware and California.

The settlement would resolve a proposed class action filed in California by Courtney McMillian, who previously oversaw Twitter’s employee benefits programs as its “head of total rewards,” and Ronald Cooper, who was an operations manager.

A federal judge in San Francisco dismissed the employees’ lawsuit in July 2024, and they appealed to the San Francisco-based 9th U.S. Circuit Court of Appeals. The 9th Circuit had been scheduled to hear oral arguments on September 17. Attorneys for Musk and McMillian did not immediately respond to requests for comment on Thursday.

The lawsuit argued that a 2019 severance plan guaranteed that most Twitter workers would receive two months of their base pay plus one week of pay for each full year of service if they were laid off. Senior employees such as McMillian were owed six months of base pay, according to the lawsuit.

But Twitter only gave laid-off workers at most one month of severance pay, and many of them did not receive anything, according to the lawsuit. Twitter laid off more than half of its workforce as a cost-cutting measure after Musk acquired the company.

Musk’s Layoffs and Labor Disputes

The case is one of several legal battles Musk has faced since his $44 billion takeover of Twitter. The sweeping layoffs—carried out with little notice—sparked criticism not just in the U.S. but also in Europe, where labor protections are stronger. In Ireland and the UK, former employees also initiated legal challenges over abrupt dismissals and unpaid severance.

The severance battle highlights a growing tension between Musk’s cost-cutting approach to running X and existing corporate governance and labor standards. Analysts believed that Musk prioritized slashing expenses to keep the company afloat after the takeover, as X has struggled with revenue declines, advertising losses, and heavy debt from the buyout.

The tentative deal also comes as Musk continues to defend X against multiple lawsuits and regulatory probes, from unpaid rent and vendor disputes to content moderation battles with governments worldwide.

If finalized, the settlement could help Musk close one of the biggest remaining liabilities from his mass layoff strategy, though his legal headaches are far from over. The settlement is expected to gulp a chunk of fortune from the social media platform, which is still struggling with revenue decline.

How Credit Recovery Provides A Second Chance To High School Students

By
TI Partners
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0

High school is often a pivotal time in a young person’s life, where academic success can pave the way for future opportunities. Not every student thrives in the traditional learning environment. Factors such as personal circumstances, learning disabilities, or disengagement can hinder their academic progress. This is where credit recovery comes into play, offering a lifeline for students who have fallen behind. Programs designed to help them recapture lost credits allow students to get back on track.

The Importance of Credit Recovery Programs

Credit recovery programs serve as vital resources in the educational landscape. They aim to assist students in fulfilling graduation requirements, offering an alternative path to obtain necessary credits. The flexibility of these programs allows students to learn at their own pace, catering to different learning styles and life situations.

These programs often include online courses, after-school sessions, and summer classes. Each approach helps create tailored educational experiences that motivate students. They are not just about attending more classes; credit recovery emphasizes mastery of material over mere attendance. This focus on comprehension enables students to understand fundamental concepts, making future learning more impactful.

How Credit Recovery Works

Initially, students are assessed to determine what courses they need to recover and their current academic standing. Following this evaluation, a personalized learning plan is created to ensure that the student can achieve their goals. The curriculum usually integrates technology and self-paced learning, making it accessible for those who may have other commitments. In many cases, credit recovery high schools offer evening and summer sessions to accommodate students’ schedules. This flexibility means that students can work, manage family responsibilities, or participate in extracurricular activities while still focusing on their education.

With this personalized approach, students engage in courses relevant to their interests, making the learning experience both enjoyable and meaningful. Educators collaboratively support students, providing feedback and encouragement throughout their journey to recover credits. This supportive environment fosters resilience and long-term student success.

Challenges of Credit Recovery Programs

While credit recovery programs provide important opportunities, they are not without their challenges. One significant issue is the perception of these programs as “easy” options for gaining credits. Some consider them shortcuts rather than complementary paths to learning. This misperception can undermine the effort invested by both students and educators. To counteract this stigma, schools need to communicate the rigorous standards and expectations inherent in credit recovery initiatives.

Funding can be a significant obstacle for some districts in implementing robust credit recovery programs. Limited resources may restrict the number of courses offered or affect the quality of instruction. Schools must advocate for more support to ensure that these programs succeed and reach those who need them most. Students often face personal and logistical challenges that can impede their recovery journey. Individual support and encouragement are important to overcoming these barriers.

Benefits of Credit Recovery for Students

The advantages of credit recovery programs extend beyond merely obtaining necessary credits. Students benefit from the personalized attention received and the opportunity to engage with the material more deeply. This process fosters academic achievement and a greater sense of personal responsibility and achievement. When students see their efforts translating into success, their confidence grows. This newfound confidence can positively impact various aspects of their lives, including career readiness and social interactions.

Another significant benefit is the skill development students experience through credit recovery. They learn critical thinking, problem-solving, and time management skills as they navigate their coursework. These skills are invaluable in both academic and professional settings.

The Role of Educators in Credit Recovery

Educators play a central role in the success of credit recovery programs by providing guidance and support. They are responsible for facilitating learning and creating an environment where students feel safe to make mistakes and learn from them. Teachers must adapt their instructional methods to meet the diverse needs of students, utilizing various strategies to engage learners effectively.

Educators serve as role models, demonstrating resilience and dedication to their students. Their investment in students’ futures significantly impacts how successful the programs can be. Training and resources for teachers facilitating these programs are important to ensure they can provide quality education and emotional support. This professional development fosters a culture of growth and improvement that benefits the entire school community.

The Future of Credit Recovery Programs

As education continues to evolve, credit recovery programs face the challenge of keeping pace with technological advancements and educational needs. The integration of innovative teaching methods and resources presents new opportunities for students. Virtual and hybrid learning models can provide even greater flexibility and accessibility for those who need to recover credits.

Schools must continually assess and update their credit recovery programs to ensure they meet the needs of modern learners. This includes seeking student feedback, evaluating learning outcomes, and modifying curricula based on real-world applications. As the education system recognizes the importance of inclusivity, credit recovery programs will likely remain integral, ensuring that every student receives the chance to succeed.

Reclaiming lost educational opportunities is crucial for high school students seeking to graduate. Credit recovery programs foster growth and resilience, allowing students to navigate their pathways successfully. These initiatives provide important resources and support systems that can alter the course of a student’s life by helping them secure their academic futures.

Waymo Secures First-Ever Autonomous Vehicle Testing Permit in New York City – Another Step Ahead of Tesla and Cruise in Robotaxi Race

By
Samuel Nwite
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1

Waymo is getting one step closer to rides in New York City.

The Alphabet autonomous vehicle subsidiary received its first permit from the New York Department of Transportation on Friday to start testing in New York City, Mayor Eric Adams announced Friday. The rollout marks the city’s first autonomous vehicle testing launch.

Waymo will begin testing up to eight vehicles in Manhattan and Downtown Brooklyn through late September, with the potential to extend the program. Under New York state law, the company is required to have a driver behind the wheel to operate.

“We’re a tech-friendly administration and we’re always looking for innovative ways to safely move our city forward,” Adams said in a release. “New York City is proud to welcome Waymo to test this new technology in Manhattan and Brooklyn, as we know this testing is only the first step in moving our city further into the 21st century.”

The news comes just two months after the company said it filed permits to test its cars in the city with a trained specialist behind the wheel.

Waymo has hit expansion mode on its services nationwide, launching in Austin this year and expanding its San Francisco area operations in March. The company also plans to bring autonomous vehicles to Atlanta, Miami, and Washington, D.C., and recently announced operations in Philadelphia as it looks to break further into the Northeast market. In May, Waymo’s CEO said the company surpassed 10 million robotaxi trips — a milestone that underlines its lead in the U.S. driverless car race.

For years, autonomous vehicle companies have sought to introduce their technology to The Big Apple. Waymo itself previously took a crack at it in 2021, rolling out some cars in parts of the city for manual driving and data collection. The city has also signaled interest in hosting autonomous vehicle programs, with the Adams administration last year implementing a series of safety requirements for responsible testing and launching a permit program to regulate deployments.

As part of its current permit, Waymo must regularly submit data reports to the DOT and coordinate closely with law enforcement and emergency services.

Waymo’s edge over Tesla and Cruise

Waymo’s entry into New York also highlights the different paths autonomous vehicle companies are taking in the race to commercialize robotaxis. Unlike Tesla, which has pursued a vision-based system relying heavily on cameras and advanced driver-assistance under its “Full Self-Driving” (FSD) program, Waymo has doubled down on lidar and radar in addition to cameras. This sensor fusion approach provides 360-degree visibility and highly detailed 3D maps of the road, giving regulators greater confidence in its safety — a key reason behind its regulatory wins in multiple states.

Tesla is currently under federal investigation for failing to report crashes involving its partially autonomous driving technology in a timely manner.

Cruise, backed by General Motors, has also been in the spotlight, operating robotaxi fleets in San Francisco and Austin. However, its journey has been marred by safety concerns, including a high-profile accident in San Francisco that led to its permit being suspended in California last year. The setback slowed Cruise’s expansion plans and prompted greater scrutiny of its technology.

By contrast, Waymo has steadily gained approvals, bolstered by years of real-world testing and a cautious approach that emphasizes safety and compliance. The fact that it is the first to receive New York City’s blessing to put robotaxis on the road underscores its lead in the sector.

While Tesla continues to pitch a future where private cars double as robotaxis, and Cruise struggles to rebuild trust, Waymo has positioned itself as the frontrunner by proving regulators and cities can trust its lidar-powered vehicles on the nation’s busiest streets.

Canada Scales Back Retaliatory Tariffs on U.S. as Trade Relations Begin to Ease

By
Samuel Nwite
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0
USC experts talk about the importance of U.S.-China trade and how it affects the economy. (Illustration/iStock)

Canada on Friday rolled back a wide range of retaliatory tariffs it had imposed on U.S. goods, signaling a significant step toward easing tensions in a trade conflict that has defined relations between the two countries for much of the year.

Prime Minister Mark Carney announced that while tariffs on sensitive sectors such as U.S. autos, steel, and aluminum will remain in place, many of the broader duties Canada slapped on American products in March will be removed beginning September 1.

The move comes after months of back-and-forth tariff exchanges that began when Washington announced 25% duties on steel and aluminum, prompting Canada to respond with counter-tariffs of equal weight. At the time, Ottawa targeted a long list of U.S. goods worth CA$30 billion (US$21.7 billion), ranging from industrial products to consumer staples, under the government of then-Prime Minister Justin Trudeau. Canada’s tariffs, framed as a defense of national interest and an assertion of sovereignty under the North American trade deal framework, were among the most aggressive countermeasures by a U.S. ally.

Carney, who took office earlier this year, struck a different tone in announcing the rollback. “As we work intensively with the United States, our focus is squarely on the strategic sectors,” he said during a press conference, underscoring that Ottawa is carefully narrowing its measures while keeping leverage in areas most vital to both economies.

The White House welcomed the change. A senior U.S. official described Canada’s move as “long overdue” and emphasized Washington’s interest in resolving outstanding disputes.

“We look forward to continuing our discussions with Canada on the Administration’s trade and national security concerns,” the official told NBC News.

Friday’s announcement followed a phone call between Carney and President Donald Trump, the first direct conversation between the two leaders since trade talks collapsed ahead of the August 1 tariff deadline. Carney’s office described the discussion as “productive and wide-ranging,” with both sides agreeing to reconvene in the near future.

The dispute has its roots in long-standing U.S. concerns over steel dumping, global overcapacity, and cross-border smuggling of contraband drugs, particularly fentanyl. Trump raised tariffs on Canadian goods to 35% in July, citing both trade fairness and Canada’s alleged unwillingness to cooperate on security matters. He pointed to the rise of fentanyl entering the United States through the northern border, where U.S. Customs and Border Protection reported seizing 43 pounds of the drug in 2024 and an additional 58 pounds so far this year.

For Canada, the tariffs have carried heavy political and economic weight. Trudeau’s government, which first imposed countermeasures, framed them as necessary to protect Canadian industries and to demonstrate Ottawa’s resolve in standing up to Washington. The measures hit iconic American exports and were designed to both shield domestic manufacturers and apply political pressure on U.S. lawmakers.

Carney, however, has taken a more pragmatic approach, seeking to balance firmness with negotiation as the U.S.-Mexico-Canada Agreement (USMCA)—Trump’s signature renegotiation of NAFTA—is set for review later this year. The rollback of tariffs suggests Ottawa is recalibrating its strategy, preparing to enter those talks on a less confrontational footing.

Carney has publicly emphasized that Canada remains committed to collaboration with the U.S., even while reserving the right to defend its most sensitive industries. When Trump raised tariffs in July, Carney responded on X, declaring Canada’s commitment to “working alongside the U.S. to come to a deal.”

The easing of tariffs, while partial, marks a notable shift in a conflict that escalated quickly and drew concern from businesses on both sides of the border. With the USMCA review looming, both Washington and Ottawa appear to be moving cautiously toward a compromise, though steel, aluminum, and autos remain flashpoints that could yet reignite tensions.

Powell Opens Door to September Rate Cut, Gold Surges as Investors Bet on Softer Fed Stance

By
Samuel Nwite
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0

Federal Reserve Chair Jerome Powell struck a cautious but pivotal note at the annual Jackson Hole symposium on Friday, hinting that the U.S. central bank may be preparing to cut interest rates in September.

His remarks marked a turning point in monetary policy discussions, as markets quickly latched onto the possibility of easier borrowing conditions in the months ahead.

“The shifting balance of risks may warrant adjusting our policy stance,” Powell said, carefully avoiding a firm commitment but signaling the Fed’s growing concerns over a cooling job market and uneven inflationary pressures.

The Fed’s benchmark interest rate directly influences borrowing costs across the economy, including mortgages, credit cards, and business loans. Mortgage rates, in particular, tend to move in tandem with the 10-year Treasury yield, which is highly sensitive to both economic outlook and monetary policy changes.

Powell’s comments immediately rippled through financial markets. Gold prices rebounded sharply, buoyed by heightened expectations of a September cut. Spot gold rose 0.7% to $3,362.53 per ounce by 10:26 a.m. EDT (1426 GMT), while U.S. gold futures were 0.8% lower at $3,408.20. The U.S. dollar slid 0.7%, making gold cheaper for buyers using other currencies.

“In his eighth and final Jackson Hole speech, Powell surprised a worried market, opening the express lanes to a September rate cut, which has boosted every single asset, including gold,” said Tai Wong, an independent metals trader. Wong added that the real test would be whether gold can break and hold above the $3,400 threshold in the coming days.

The CME FedWatch tool showed traders now assigning a 90% chance of a 25 basis-point cut in September, up from 75% before Powell’s remarks. Markets are now hanging on to forthcoming jobs and inflation data due before the September 16–17 FOMC meeting.

Gold, which traditionally thrives in low-interest-rate environments because it carries no yield, has gained favor as investors brace for lower returns on fixed-income assets. However, physical demand in Asia remained subdued this week as price volatility discouraged retail buyers, though jewelers in India began stocking up ahead of the upcoming festival season. Spot silver gained 1.3% to $38.67 an ounce, platinum rose 0.5% to $1,359.75, and palladium firmed 1.4% to $1,126.25.

Yet behind the rallying markets, some economists argue that Powell’s pivot is more political than economic, raising concerns about the Federal Reserve’s independence. Some suggest the Fed Chair may have succumbed to intense pressure from President Trump, who has repeatedly called for steep rate cuts to spur growth.

“Powell caved. All FOMC members should be fired for not hiking rates. At least Powell admitted that our economy is weaker and inflation stronger this year under Trump than last year under Biden… Sell U.S. dollars and buy gold & foreign stocks!” said Peter Schiff, chief economist at Euro Pacific Capital.

Schiff, a longtime Fed critic, argued that the economic indices do not yet justify a cut, warning that the decision risks ushering in an era of persistent inflation and stagnant growth. He further emphasized that Powell’s pivot could be bearish for bonds, as a weaker dollar and stronger inflation will sap investor appetite for U.S. Treasuries.

“As a result, demand for Treasuries will fall just as supply rises thanks to soaring budget deficits. To control long-term rates, the Fed will revert to QE,” he added, referring to quantitative easing—a policy of large-scale bond buying that the Fed has previously relied on during financial crises.

Powell’s balancing act—acknowledging labor market risks while conceding inflation remains uncomfortably high—has set the stage for one of the most consequential FOMC meetings in years. Investors are currently betting big on a September cut, but economists remain divided as investors seek an answer to the question: is this a pragmatic response to shifting risks, or the start of a politically driven gamble that could undermine the Fed’s credibility?

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