A former vice president at the United Auto Workers was charged Monday in a scheme with Fiat Chrysler executives to buy meals, golf and other perks with the automaker's money - the highest-ranking official snagged in an investigation that has exposed corruption between labor and management.
The conspiracy charge against Norwood Jewell was filed as a criminal information, which means a guilty plea is likely. At least seven people have pleaded guilty.
Officials at Fiat Chrysler, known as FCA, and the UAW enriched themselves by using company money set aside for a job-training center. The corruption occurred at the same time both sides were negotiating labor agreements.
Jewell was the senior UAW official dealing with Fiat Chrysler, from 2014 through 2016. He apparently had no knowledge of corruption before getting the post - his predecessor had a $262,000 mortgage paid off - but he jumped right in, according to the government.
State may ease hair braiding rules
A proposal to loosen state regulations surrounding hair braiding is advancing inside the Tennessee Statehouse.
The House Government Operations Committee agreed Monday that hair braiders should not face the same strenuous licensing requirements as most cosmetologists.
Currently, Tennessee requires hair braiders to complete at least 300 hours of natural hair styling at a cosmetology school.
However, the proposed change would allow hair braiders to attend just 16 hours of health and hygiene training. Hair braiders would also have to register with the state and post a notice declaring they are not licensed by the board of cosmetology and barber examiners.
Opponents argued the deregulation would place the public at risk because some techniques require boiling hot water to set the braid. Supporters countered that practice would not be allowed.
FIS buys Worldpay in $35 billion deal
Fidelity National Information Services is buying Worldpay for about $35 billion to combine forces as financial transactions increasingly move online.
The payment service industry works behind the scenes to help complete the process for purchases. It was a simpler exercise when those transactions took place in person with a swipe of a card. But transactions have largely moved online and grown in complexity, forcing those background players to deal with multiple currencies, various forms of payment and more at lightning speed. The industry also faces a growing base of startup competitors.
Fidelity, or FIS as it is known, is a more traditional payment service provider, supporting more staid practices such as banks transactions. Worldpay is the "crown jewel" of the e-commerce niche, said Instinet analysts Dan Dolev and Conan Leon. It has grown quickly as the companies that it services have grown, and that makes it an attractive acquisition target.
Worldpay processes more than 40 billion transactions a year and supports more than 300 payment types across more than 120 currencies. Combined, Worldpay and FIS would have had 2018 revenue of $12.3 billion. The deal represents the biggest acquisition for FIS since it spent more than $5 billion for SunGard in 2015.