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Last Build Date: Fri, 20 Apr 2018 20:35:55 GMT

Copyright: Copyright 2018 The New York Times Company

Wells Fargo Pays $1 Billion to Federal Regulators

Fri, 20 Apr 2018 16:53:50 GMT

Wells Fargo was hit with penalties for a variety of violations, including its handling of auto loans and mortgage interest rates, regulators said Friday.The fines against the bank settle investigations into its lending practices. They are the biggest bank penalties imposed under the Trump administration.

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In a Trade War, China Might Boycott U.S. Goods. That Could Backfire.

Fri, 20 Apr 2018 02:32:05 GMT

A Nike store in Beijing. Many of the goods that Nike and other American companies produce are assembled by Chinese workers.State media have hinted that Beijing could weaponize its consumers in a trade war. But American brands are popular in China — and Chinese workers make many of their products.

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Barclays Chief Executive Staley Fined Over Whistle-Blower Scandal

Fri, 20 Apr 2018 07:29:37 GMT

James E. Staley, the chief executive of Barclays, at Downing Street in London on January. He was fined on Friday over his attempt to unmask a whistle-blower within the bank.The bank said that it will continue to stand by its leader, as it struggled to set aside years of lackluster results and management turmoil.

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Trump Criticizes OPEC, Calling Oil Prices ‘Artificially’ High

Fri, 20 Apr 2018 19:31:48 GMT

President Trump boarding Air Force One at Palm Beach, Fla., on Wednesday. He criticized OPEC on Friday, arguing that it “artificially” raised oil prices.The president’s remarks came with gasoline prices at their highest point in three years after an effort by the oil cartel and Russia to restrain output.

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A.I. Researchers Are Making More Than $1 Million, Even at a Nonprofit

Thu, 19 Apr 2018 22:32:13 GMT

Artificial intelligence experts are commanding eye-popping salaries. Including a signing bonus, OpenAI paid its top researcher, Ilya Sutskever, more than $1.9 million in 2016.Tax forms filed by OpenAI provide insight into the enormous salaries and bonuses paid to artificial intelligence specialists across the world.

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Common Sense: Punishing Wells Fargo: Just Deserts, or Beating a Dead Horse?

Fri, 20 Apr 2018 00:15:10 GMT

In February, the Federal Reserve took Wells Fargo to the woodshed, barring the bank from expanding its balance sheet beyond the nearly $2 trillion in total assets that it reported at the end of 2017. Then the bank announced another possible $1 billion fine.The bank deserved to pay for its reprehensible transgressions. But our columnist asks whether further punishment may just be hurting the shareholders.

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As Engine Failed, F.A.A. Was Considering Rules That Might Have Made a Difference

Thu, 19 Apr 2018 23:49:54 GMT

Parts from the engine that failed on a Southwest Airlines plane on Tuesday, killing a passenger. The Federal Aviation Administration said a new inspection regulation, in the works for months, should be ready within two weeks.A 2016 engine failure set airlines and regulators on a path to more stringent testing. But the process wasn’t completed before an apparently similar failure left a woman dead.

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Engine on Southwest Jet Not the Only One to Develop Cracks

Fri, 20 Apr 2018 03:01:18 GMT

On Tuesday, the same day an engine exploded on a 737 operated by Southwest Airlines, the F.A.A. barred the Rolls Royce Trent 1000 engine, above on a Boeing 787 Dreamliner, from ultralong, over-water flights.Jet engines from three different manufacturers have developed problems, which has prompted questions about their design, operation and inspection.

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F.D.A. Panel Recommends Approval of Cannabis-Based Drug for Epilepsy

Thu, 19 Apr 2018 23:32:07 GMT

The drug’s active ingredient, cannabidiol, is one of the chemical compounds found in the cannabis plant but it does not make people high.Epidiolex was developed to treat two rare and devastating forms of the disease. It contains a chemical compound found in marijuana but not the one that makes people high.

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AT&T Chief Attacks Lawsuit to Block Time Warner Merger

Thu, 19 Apr 2018 23:05:44 GMT

AT&T’s chief executive, Randall Stephenson, called the blockbuster merger with Time Warner a “vision deal” that would allow AT&T to better compete with Silicon Valley giants.Randall Stephenson, AT&T’s chief executive, defended his deal to buy Time Warner and said a combined company would be no different than those that already exist in Silicon Valley.

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G.E. Makes a Sharp ‘Pivot’ on Digital

Thu, 19 Apr 2018 21:32:08 GMT

In 2011, G.E. set up a center in San Ramon, Calif., to push into the digital market. The company has invested billions in those efforts, but this year it is cutting its expenses by 25 percent.The industrial giant plunged into internet-era software with gusto. But it has trimmed back after finding that becoming a tech player is daunting and costly.

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Why Trump Lashed Out at OPEC: DealBook Briefing

Fri, 20 Apr 2018 15:48:18 GMT

Saudi Arabia’s energy minister, Khaled al-Faleh, left, and Russia’s energy minister, Alexander Novak, at an OPEC meeting on Friday.The president’s attack on OPEC reflects concern that the oil production caps may mean more costs for U.S. consumers and erode their tax savings.

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Your Money: Seeking Your College Application Essays About Money

Wed, 21 Mar 2018 21:28:27 GMT

Each year, The New York Times publishes a handful of undergraduate application essays about work, money and social class. Now, we’re seeking this year’s batch.

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Wall Street Slides as Tech Stumbles, Treasury Yields Climb

Fri, 20 Apr 2018 20:10:33 GMT

Wall Street's three major indexes declined on Friday, as investors worried about a jump in U.S. bond yields and technology stocks led the decline on nerves about upcoming earnings reports and iPhone demand.

Global Health: Ethicists Call for More Scrutiny of ‘Human-Challenge’ Trials

Fri, 20 Apr 2018 20:25:51 GMT

A syringe holding an experimental Zika vaccine at the University of Maryland Medical Center. A controversial study in which volunteers are to be infected with Zika has prompted calls for more stringent review of “human-challenge” trials.A vaccine study in which subjects are to be deliberately infected with Zika is on pause after ethicists said it had “insufficient value.”

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Electric Scooters Are Causing Havoc. This Man Is Shrugging It Off.

Fri, 20 Apr 2018 20:29:32 GMT

Electric scooter start-ups have spread from Santa Monica, Calif. to several cities around the country. Not everyone is happy about that.Travis VanderZanden, chief executive of electric scooter start-up Bird, is unperturbed by how San Francisco and other cities are in an uproar over the dockless vehicles.

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Entrepreneurship: Making Her Own Way, Nearly 100 Years Later

Fri, 20 Apr 2018 20:00:10 GMT

Simone Reggie, the owner of Simone’s Market in the Uptown neighborhood of New Orleans, is a rising star in that city’s food scene.Simone Reggie, owner of Simone’s Market in New Orleans, is a rising star on the city’s food scene, following a family tradition.

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India’s ATMs Are Running Out of Cash. Again.

Fri, 20 Apr 2018 19:52:51 GMT

A customer tries to use an ATM in New Delhi. India’s government says an unusual spurt in demand has caused a shortage of cash, but economists say it is primarily the government’s fault.The shortage, caused by government policies, poses a challenge for Prime Minister Narendra Modi, who was also responsible for India’s last cash crisis.

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U.S. Said to Investigate AT&T and Verizon Over Wireless Collusion Claim

Fri, 20 Apr 2018 20:00:59 GMT

Verizon and AT&T face accusations that they colluded with a group that sets mobile industry standards to try to restrict a new technology, currently in relatively few devices, that allows consumers to easily switch carriers.Complaints to the Justice Department allege that the companies and a standards group worked together to restrict eSIM technology, a cardless way to easily switch carriers.

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What Happened to Matthew Mellon

Fri, 20 Apr 2018 19:14:17 GMT

Nicole Mellon and Matthew Mellon in 2014.A proud father. A brilliant friend. Lucky in love. Inherited wealth. And an opioid addict, dead at 54.

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Carolyn Jacobson, Champion of Women’s Union Rights, Dies at 67

Fri, 20 Apr 2018 18:40:18 GMT

Carolyn Jacobson. As a college senior, her research paper was titled “Women and Work.”She helped place equal rights and health and social issues of particular concern to women workers on the agenda of organized labor.

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The Workologist: What to Do When Your Old Boss Won’t Let Go

Fri, 20 Apr 2018 17:43:09 GMT

A worker escapes a bad supervisor by changing departments — but the old boss is still holding on tight. What is to be done?

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Vocations: Her Start in the Air Force Led to a Surprising Place

Fri, 20 Apr 2018 16:53:25 GMT

Caroline MacDonald is a Rosewood Hotel Group vice president in Los Angeles. She and her husband enjoy long motorcycle rides along the California coast.A luxury hotel sales executive started her career in the military, where her wartime job would be to plot possible nuclear, biological and chemical fallout.

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Economic View: How the Loss of Union Power Has Hurt American Manufacturing

Fri, 20 Apr 2018 16:51:08 GMT

The nation’s union leaders once had the president’s ear through seats in the cabinet as secretaries of labor. And then they stopped getting that job.

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Your Money Adviser: For Workers Without Retirement Savings, State-Run I.R.A.s Can Pay Off

Fri, 20 Apr 2018 15:42:19 GMT

Retirees could use money from their state-sponsored accounts to cover a year or more of costs, delaying — and thereby increasing — monthly Social Security benefits.A Pew study found that people could use the money in their state accounts to delay taking Social Security benefits. That would lead to higher federal payments.

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Wealth Matters: An E.R. That Treats You Like a V.I.P.

Fri, 20 Apr 2018 19:49:28 GMT

Priority Private Care, a concierge emergency room in New York, has a sleek, modern design. Members pay for 24-hour access to urgent care.Concierge emergency rooms offer faster treatment and personal care to those who can afford it. Some will even walk your dog.

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Party City Offers Ramadan Decorations, a First for a Big U.S. Retailer

Fri, 20 Apr 2018 13:23:55 GMT

Huda Khwaja’s younger sisters making Ramadan decorations at home in Atlanta last year. Ms. Khwaja, 20, said her family had been decorating for the holiday her whole life to make it more meaningful.With Ramadan, the holiest month in Islam, on the way, many Muslims see the items as a welcome addition to their festivities.

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Bits: Kevin’s Week in Tech: Jeff Bezos Reminds Tech Who’s Boss

Fri, 20 Apr 2018 13:00:12 GMT

Jeff Bezos, the chief executive of Amazon, released a letter to shareholders that included big numbers: 560,000 employees and more than 100 million Prime members. A smaller one: a median worker salary of $28,446.Amazon’s chief executive sent out his annual shareholder letter this week. Our tech columnist recounts what stood out from it.

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Sale at Heathrow Terminal 1. Everything Must Go.

Fri, 20 Apr 2018 12:20:19 GMT

Terminal 1 at London’s Heathrow Airport in 1969, the year it was officially opened by Queen Elizabeth II.The entire contents of the aged building, which opened in the 1960s, will be up for auction before it’s torn down to make way for Terminal 2’s expansion.

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Sketch Guy: Fake Experts Abound. Here’s How to Find (and Be) a Real One.

Fri, 20 Apr 2018 09:00:12 GMT

Real experts wait, listen and notice patterns. Fake ones raise their hands and start talking. Lots of people know the difference. Many more should.

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Why You Should Hire a Financial Planner, Even if You’re Not Rich

Fri, 20 Apr 2018 16:39:25 GMT

Now that tax time has passed, give yourself a financial fresh start and get some help to make the right money moves for next year.

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On Southwest 1380, Confusion and Distraction as Oxygen Masks Dropped

Fri, 20 Apr 2018 01:34:59 GMT

Marty Martinez, left, with other passengers aboard Southwest Airlines Flight 1380 on Tuesday. Safety instructions tell passengers to place the oxygen masks around their “mouth and nose.”Photographs taken on the plane, whose engine exploded, show panicked passengers with the masks around their mouths but not their noses.

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Profile: CNN’s Jake Tapper Has Emerged as a Staunch Defender of Facts in the Trump Era. So Why Is He Writing Fiction?

Thu, 19 Apr 2018 21:29:01 GMT

Tapper’s debut novel, “The Hellfire Club,” a historical thriller set in 1950s Washington, has some unsettling parallels to today’s political climate.

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Wells Fargo Said to Be Target of $1 Billion U.S. Fine

Thu, 19 Apr 2018 23:04:59 GMT

An expected $1 billion penalty against Wells Fargo would mark the toughest action that the Trump administration has taken against a major bank.Two federal regulators are expected to penalize the bank for its alleged misconduct, people familiar with the action said.

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Wheels: Cars That Will Get Your Grad Down the Road of Life

Fri, 20 Apr 2018 03:42:02 GMT

Kia’s boxy Soul is roomy and refined, making it a compelling choice for new adults heading out into the working world. Skipping the base model to get the optional 2-liter engine is a worthy investment, while still not breaking the bank.With any luck, your son or daughter has a job to go with that sheepskin. Here are some suggestions if that newly minted adult needs a way to get there.

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E. Coli Outbreak Tied to Romaine Lettuce Expands to 16 States

Thu, 19 Apr 2018 15:39:37 GMT

A romaine lettuce field near Somerton, Ariz., in 2016. To pinpoint the exact source of the E. coli, investigators would need samples of the tainted lettuce itself.At least 53 people have been infected so far, and more than half have been hospitalized.

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If the World Economy Is Looking So Great, Why Are Global Policymakers So Gloomy?

Thu, 19 Apr 2018 15:14:37 GMT

The World Economic Outlook news conference at the headquarters of the International Monetary Fund in Washington on Wednesday. “The present good times will not last for long,” said Maurice Obstfeld, chief economist of the I.M.F.As officials gather for the I.M.F. and World Bank convene in Washington, worries about trade and debt are building

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As Opioid Prescriptions Fall, Prescriptions for Drugs to Treat Addiction Rise

Thu, 19 Apr 2018 21:32:08 GMT

Prescriptions for opioid painkillers have been falling in recent years. At the same time, prescriptions for medications to treat opioid addiction are rising sharply.New data suggests progress in efforts to curb the epidemic but raises questions about whether tightened prescribing may be leading some people to heroin and fentanyl.

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Wells Fargo Is About to be Hit With $1 Billion Fine: DealBook Briefing

Thu, 19 Apr 2018 22:14:16 GMT

Federal regulators are poised to impose a $1 billion penalty on Wells Fargo for a variety of alleged misdeeds.

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Comcast Bid 16% More Than Disney for 21st Century Fox, Filing Shows

Thu, 19 Apr 2018 01:50:37 GMT

The 21st First Century Fox board accepted Disney’s bid after Comcast refused to agree to a breakup fee in case federal regulators rejected a deal, according to a filing on Wednesday with the Securities and Exchange Commission.Although its rebuffed proposal was higher on a per-share basis, Comcast didn’t offer protection if a deal was blocked, according to a filing with the Securities and Exchange Commission.

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Can Training Eliminate Biases? Starbucks Will Test the Thesis

Thu, 19 Apr 2018 00:53:58 GMT

The Rittenhouse Square neighborhood of Philadelphia, where two black men were arrested at a Starbucks store.Some researchers say training can help alleviated biased treatment, but others warn that it can be ineffective or even backfire.

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S.E.C. Seeks to Require Brokers to Put Their Clients First

Thu, 19 Apr 2018 01:19:12 GMT

The Securities and Exchange Commission is seeking rules that would require brokerage firms to put their customers’ interests first when making investment recommendations.Hoping to strengthen consumer protections, the agency voted to propose rules that would require brokers to put their customers’ financial interests ahead of their own.

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Southwest’s Fatal Accident Prompts Scrutiny of Engine Inspections

Thu, 19 Apr 2018 01:43:37 GMT

Investigators from the National Transportation Safety Board examining the damaged engine that caused the death of a passenger on a Southwest Airlines plane on Tuesday.The Boeing 737 had been inspected two days earlier, but investigators say a routine visual check might not have been sufficient to spot problems.

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Tech’s Hollywood Takeover: Amazon Reboots ‘Citizen Kane’ and ‘E.T.’ Studio

Thu, 19 Apr 2018 02:53:54 GMT

Amazon is taking over Culver Studios, one of Hollywood’s most historic movie lots. The administration building is modeled after Mount Vernon.The tech giant has moved its entertainment division into Culver Studios, a 14-acre site where “Gone With the Wind” was also filmed.

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Harper’s Editor Insists He Was Fired Over Katie Roiphe Essay

Thu, 19 Apr 2018 13:21:50 GMT

James Marcus took over as editor of Harper’s Magazine in February 2016. “I was fired over a principled stand that I took,” he said.The essay stirred controversy on Twitter. It was also the subject of debate at the venerable monthly. Now the editor, James Marcus, is out.

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Jean McFaddin, Who Made the Macy’s Parade What It Is, Dies at 75

Thu, 19 Apr 2018 19:26:52 GMT

Jean McFaddin leading the Macy's Thanksgiving Day Parade along Central Park West in 1995.Ms. McFaddin transformed a Thanksgiving tradition into a spectacular, then turned her hand to Santaland, a flower extravaganza and fireworks on the Fourth.

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Robot Conquers One of the Hardest Human Tasks: Assembling Ikea Furniture

Wed, 18 Apr 2018 20:39:01 GMT

This robot, created by researchers in Singapore, took 20 minutes 19 seconds to make and execute a plan to assemble an Ikea chair.Researchers in Singapore explained how they created a robot that could devise and execute a plan to put together an Ikea chair.

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