Charles Schwab to give most of its employees a 5% raise
CBSN
Charles Schwab will give "the vast majority" of its employees a 5% pay increase effective in late September, rewarding them for powering through the pandemic and adding to a growing list of companies sweetening compensation to keep workers in a tight labor market.
Schwab benefited from an increase in trading and rising stock markets during the pandemic, opening 4.8 million new accounts through June and doubling the amount of stocks, bonds and other securities it holds for customers to $257 billion compared with a year earlier, the company said in a statement yesterday. "This increase is a way to reward our talented employees for their contributions and their relentless commitment to see the world through clients' eyes, even during the most challenging times," CEO Walt Bettinger said in the statement.Authorities made two gruesome discoveries Tuesday after a Missouri woman walked into a police station and told officers that she fatally shot one of her children and drowned the other, officials said. Jefferson County Sheriff Dave Marshak said at a news conference that authorities believe both children were killed Tuesday morning.
Strong storms with damaging winds and baseball-sized hail pummeled Texas on Tuesday, leaving more than one million businesses and homes without power as much of the U.S. recovered from severe weather, including tornadoes, that killed at least 24 people in seven states during the Memorial Day holiday weekend.