CBS MoneyWatch: February 5, 2018

After a bloodbath on Friday, Wall Street opened sharply lower again today.

Meanwhile, it is the start of a new era with Jerome Powell officially sworn in as the new head of the federal reserve. He follows in the footsteps of Janet Yellen, the first women to head the central bank. Powell is only the 16th chairman of the fed.

Wells Fargo is hit with a heavy slap on the wrist.  The bank is not allowed to grow any bigger than it already is – – until it rights its wrongs. It was one of Janet Yellen’s final acts as fed chair.

Google spin-off Waymo and Uber are facing off in a San Francisco courtroom today in a high stakes trial over autonomous driving technology.  Waymo accuses Uber of stealing a key piece of its self-driving car technology.  Waymo says a former engineer stole trade secrets before defecting to Uber.  Uber denies the allegations.

And the new Superbowl champs aren’t just basking in the afterglow of winning the big game. They are also pocketing some extra cash.  Every Philly player gets an additional check for $112-thousand dollars.  As for the opposing team…the patriots get a cut as well…their haul is an extra $56-thousand dollars apiece.

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