Economics & Economy

Global economic recovery eats through oil glut

1 hour ago

This morning President Donald Trump turned his ire on OPEC: “OPEC is at it again,” he tweeted. “Oil prices are artificially Very High!” Sure, it’s convenient to blame someone for high gas prices. But the broader story — beyond the 280 characters that Twitter allows — is that something bigger is happening in the world oil market.

Click the audio player above to hear the full story. 

Looking for a luxury apartment? Try Pittsburgh

2 hours ago

There's plenty to see in Pittsburgh's East End. Carnegie Mellon is based here. So is the University of Pittsburgh. And the hip neighborhood, Lawrenceville. Another thing you can find: plenty of construction, mostly apartment buildings with signs touting amenities – pools, gyms, rooftop decks.

It's time to get your financial life in order

2 hours ago

Tax season may be over, but that doesn't mean you should stop thinking about your finances. That's one conclusion from John Schwartz of the New York Times, who decided that after many decades of keeping his nose to the grind and ignoring his letters from Vanguard, he should take a step back and look at how his financial life was really doing.

The Consumer Financial Protection Bureau has issued its first penalty under the leadership of Mick Mulvaney. Wells Fargo will pay a total of $1 billion to the CFPB and the Office of the Comptroller of the Currency as part of a settlement over charges tied to the company's mortgage and auto lending business. 

Wells Fargo will pay the federal government a billion dollars to settle charges of misconduct in its car and home loans. That's a lot, but only a small percentage of the banks' recent profits. It's also the biggest bank fine imposed by the Trump administration and the first by the Consumer Financial Protection Bureau under the direction of Mick Mulvaney. He's no fan of the agency he's now in charge of, and he's still Trump's budget guy, so we had him on today to talk about all of it.

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