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Updated at 3:31 p.m. ET

Wells Fargo will pay a $2.09 billion civil penalty over allegations the company originated and sold residential mortgage loans that included misstated income information, the Justice Department said Wednesday.

The bank's actions contributed to the financial crisis, the agency said.

The Federal Reserve on Wednesday held off on raising its key interest rate, which plays a role in loans to consumers and businesses.

The Fed is sticking to the script it has been forecasting to financial markets, but it's expected to raise rates twice more this year — on top of the increases it implemented in March and June.

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What's At Stake For Apple In China

Aug 1, 2018

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More Americans will be writing a check to the IRS in April because their employers are not withholding enough from their paychecks following the new tax law, the Government Accountability Office says in a new report.

The Trump administration is considering another big tax cut.

The administration is studying a proposal to cut capital gains taxes, a move that would primarily benefit the wealthiest Americans.

"There's been a great deal of interest in this provision for a long time," White House spokesman Hogan Gidley told reporters traveling aboard Air Force One Tuesday.

The pace of wage growth is one of the best indicators of economic health. But wage growth can be measured using a number of different methods. Each method has strengths and weaknesses, and each method tells a slightly different story about how the economy, and the labor market, is doing.

We speak with economist Ernie Tedeschi, who suggests three different measures of wage growth that we should all be tracking. In chart form, they are:

1. Average Hourly Earnings for all private sector workers:

Uber is shutting down its self-driving truck program, nearly six months after it settled a lawsuit from Waymo, the Google spinoff that accused Uber of using its proprietary designs. Uber says it will keep working on self-driving vehicles, but it will now focus solely on cars.

"We've decided to stop development on our self-driving truck program and move forward exclusively with cars," said Eric Meyhofer, the head of Uber's advanced technologies unit.

A hint of optimism creeps into Darius Kasprzak's voice as he pilots his boat, the Marona, out of Kodiak harbor on a recent calm day.

"We're in the morning, we're at the start of the flood tide," he says. "This is where you want to be."

He is fishing a bay on the northwestern edge of the Gulf of Alaska, about 200 miles southwest of Anchorage. The chilly waters here are some of the most productive fish habitat on Earth. In a good year, Kasprzak could catch more than 100,000 pounds of cod.

San Francisco may become the next U.S. city to ban plastic straws. The city's board of supervisors approved the ban on a preliminary basis last week and the final decision is on its agenda Tuesday. That has shops that sell boba, or bubble tea – a drink that has to be sucked through a straw – concerned.

Bubble tea is typically served in a big plastic cup over ice. It has balls of tapioca at the bottom the size of small marbles. You use a wide straw to suck up the tapioca — or boba — from the bottom of the cup.

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No question, Russia is a formidable force in the global political arena. But its economy is smaller than the economy of Texas. Russia's economy was growing like crazy between 1999 and 2008. But it's about the same size now as it was at the end of the Great Recession. Today on the show, we look at what's been holding back Russia's economy.

Travis is a teenager living in a small town in the Northeast. He enjoys hunting and shooting, and keeps a rifle at home. But with several younger siblings around the house, he wanted to make sure his gun was safe. So he ordered a trigger lock on Amazon, to prevent the gun from firing.

"The reviews were great, five-star reviews," says Travis, who asked that NPR use only his first name to avoid scrutiny and possible legal attention. "[They] said it worked great, locked perfectly, the combination system worked great."

It didn't.

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The Myth Of The Self-Made Millennial

Jul 29, 2018

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Emmy-award winning writer and television producer Dinah Kirgo, one of six women accusing CBS chairman Les Moonves of harassment, told NPR that she is not trying to destroy Moonves as much as she is trying to change a culture that allows such misconduct.

"People think that we're trying to take these guys down, and that is, at least in my case, that is so not true," Kirgo said in an interview with All Things Considered. "It's about stopping this behavior."

Les Moonves And CBS's Culture Of Harassment

Jul 28, 2018

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We want to turn now to the economy, which was the focus of a lot of attention this past week. Yesterday, the Commerce Department said the economy grew 4.1 percent in the second quarter of the year. President Trump called the news amazing.

Understanding Friday's Economic News

Jul 28, 2018

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The U.S. economy is doing well. The Commerce Department reported yesterday gross domestic product grew at a rate of 4.1 percent in the last quarter. That's faster than expected. And unemployment is low. President Trump takes credit.

(SOUNDBITE OF ARCHIVED RECORDING)

When Adam Stephens walked into his office in Milwaukee one morning in late June, he found messages complaining about the Birds. The deputy city attorney was not amused.

He went for a walk. "Within a couple of minutes, I found one parked on a sidewalk and was able to visually examine it and kind of figure out what it was," Stephens says.

Bird is the name of an electric scooter company. Unannounced, it dropped off somewhere between 70 and 100 rental scooters throughout Milwaukee, where it's illegal to ride motorized scooters in public.

GDP, OMG!

Jul 27, 2018

The gross domestic product is a measure of all the goods and services an economy produces. For the second quarter of this year, the U.S. economy grew at a stellar rate of 4.1%. Today on the show, we take a deep dive into everybody's favorite economic indicator: How is it measured? Why is it so high? Will it continue?

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President Trump has been pledging that his policies will ramp up economic growth. His goal has been to double the growth rate of recent years to about 4 percent sustained annual growth. Now, it happened, and it was announced today, and he's taking credit.

In Dakar, Senegal, people can't just flush their poop away. As is the case in many places in the world, it is pretty common for toilets to flush into a septic tank that needs to be emptied every so often.

And there are two ways to do it: the "cheap guy" — or the cartel that deals exclusively with raw sewage.

An example of the "cheap guy" is a man who calls himself Djiby. He says he is a baay pelle, which means "the father of the shovel." Father Shovel scoops out the septic tank with his shovel and bucket, and then he empties the bucket into a hole in the street.

Updated at 6:30 p.m. ET

The New Yorker magazine has published an article by Ronan Farrow detailing accusations of sexual harassment by CBS CEO Les Moonves and other men at the company.

Updated at 4:35 p.m. ET

Social media companies have not had a good week in the stock market.

A federal appeals court handed workers in Birmingham, Ala., a significant win this week. The city is in a battle against state lawmakers over whether it has the right to raise its minimum wage.

The Birmingham workers and the Alabama legislature have been fighting in court since the city voted to increase its minimum wage to $10.10 an hour, from $7.25, in February 2016. That hike never took effect. The state legislature swiftly passed a law barring municipalities like Birmingham from setting their own minimum wage.

Friday News Roundup - Domestic

Jul 27, 2018

With guest host John Donvan.

The peregrinations of President Trump again lead the News Roundup this week. And there was a lot to cover.

Secretary of State Mike Pompeo testified in front of the Senate Foreign Relations Committee on Wednesday. In front of some skeptical senators, Pompeo suggested that the president had been tough on Russia.

Nuclear power plants in Europe have been forced to cut back electricity production because of warmer-than-usual seawater.

Plants in Finland, Sweden and Germany have been affected by a heat wave that has broken records in Scandinavia and the British Isles and exacerbated deadly wildfires along the Mediterranean.

GDP Is Up 4.1 Percent: What That Means

Jul 27, 2018

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