Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Visa to Move European Headquarters to London’s Canary Wharf 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
3M, an American conglomerate company, announced on Monday, May 15, that it's group president and chief business and country officer is leaving. The Saint Paul, Minnesota-headquartered healthcare and consumer goods manufacturing firm confirmed that Michael Vale has been fired.
Vale is a long-time top executive at 3M, but he would be let go due to violations of the company’s policy. The manufacturer added that he also has a case of inappropriate conduct at the workplace.
According to CNN Business, Vale is vacating his office just a month after being promoted to group president and chief business and country officer roles at 3M. Before his departure, he has been directly reporting to the firm’s chief executive officer Mike Roman.
Some of his tasks include overseeing the safety, consumer, industrial, electronics, and transportation businesses of the company. Prior to his promotion, Vale was the president of 3M’s safety and industrial business.
In the most recent shareholder report of 3M, it was indicated that the fired executive was paid more than $1.6 million in cash per year as of April 1, 2022. He has been working at the company for over 30 years now thus, the termination and the reasons behind it were disappointing in some ways.
“3M today announced that Michael Vale has been terminated for cause from the company, effective May 12, 2023,” the company said in a press release. “His dismissal is due to inappropriate personal conduct and violation of company policy, unrelated to the company's operations and financial performance. When 3M learned of and verified the violation, it took immediate action.”
3M added, “The company has initiated a search for Mr. Vale's successor. Effective immediately, the leaders of 3M's Safety and Industrial Business, Consumer Business, and Transportation and Electronics Business report to 3M chairman and chief executive officer Mike Roman.”
Photo by cetteup/Unsplash
