Business & Economy | WOSU Radio

Business & Economy

Updated at 2:23 p.m. ET

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

U.S. Attorney Benjamin C. Glassman speaks during a news conference, Wednesday, Oct. 10, 2018, in Cincinnati.
John Minchillo / Associated Press

A Jackson, Ohio, man pleaded guilty Monday to charges relating to a $50 million Ponzi scheme.

Updated at 8:45 a.m. ET

The U.S. labor market bounced back strongly in March after a lackluster showing in February.

U.S. employers added 196,000 jobs last month, the Labor Department reported Friday. That's a big improvement from February, when revised figures show just 33,000 jobs were added. But it's a slowdown from the last three months of 2018, when monthly job growth averaged 233,000.

Nationwide Children's Hospital announced it will raise its minimum wage to $15 per hour in July. The change will be fully implemented by 2020.

Updated at 3:08 p.m ET

Frustrated by the large number of Central Americans who have been entering the country from Mexico, President Trump doubled down on his threat to close the Southern U.S. border.

"I'm ready to close it," Trump said Tuesday. "If we don't make a deal with Congress, the border is going to be closed, 100 percent."

President Trump is threatening to close the U.S.-Mexico border in response to a recent surge of people crossing illegally. In speaking to reporters about the proposal this past weekend, he said a shutdown could include “all trade.” 

Such a move would have a significant impact on Ohio, which has Mexico as its second-largest trading partner after Canada. 

The Plain Dealer is expected to notify 14 Northeast Ohio Newspaper Guild, Local 1 members Monday that they no longer work for the company. The newspaper announced the layoffs two weeks ago.

Over the weekend, the union’s membership ratified an agreement reached between the Guild and Plain Dealer management that would affect “those whose jobs are being eliminated and those who will be left behind,” according to a statement from the Guild.

Ohio Congresswoman Marcy Kaptur says she will vote to defeat the new North American Free Trade Agreement worked out by the Trump Administration last fall. On Friday the Democrat said one of the reasons she is opposed to the U.S.-Mexico-Canada Agreement (USMCA) is an expansion of drug company exclusivity. 

“You weren’t expecting that the pharmaceutical issue would be hidden in a trade bill but it is,” said Kaptur.

Ohio Governor Mike DeWine speaks during a public inauguration ceremony at the Ohio Statehouse, Monday, Jan. 14, 2019, in Columbus.
Ty Greenlees / AP/Dayton Daily News, Pool

Ohio Governor Mike DeWine says the state’s non-profit jobs development company needs to be more transparent with the public and needs to combine efforts with other state agencies.

Job seekers at one of two fulfillment centers in Central Ohio.
Esther Honig / WOSU

A new report from the Ohio Chamber of Commerce says businesses it surveyed in the Buckeye State plan to hire employees despite the uncertainty of economic stability.

Homer Simpson probably won't become the newest member of the Avengers, but anything's possible now that Disney owns 21st Century Fox.

One year after the Walt Disney Co. announced the $71.3 billion merger, it's official. The deal, which closed Wednesday at 12:02 a.m. Eastern time, reshapes the media landscape and makes Disney an even greater entertainment behemoth. In bolstering its trove of characters and stories, the acquisition also puts Disney in a stronger position to take on Netflix and other streaming companies when it launches its own service, Disney+, later this year.

Last week U.S. Trade Representative Robert Lighthizer launched what Politico called a charm offensive on Capitol Hill amid high-profile trade deals being sought with China, and Canada and Mexico, among others. Some Democrats in the House majority have voiced concerns over the deal to replace NAFTA, especially over labor and environmental regulations.  

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