Business News at a Glance

Trump Criticizes OPEC, Calling Oil Prices Artificially High

As domestic gasoline prices surged to their highest level in three years, President Donald Trump railed against the OPEC oil cartel Friday, declaring that the group was unjustifiably manipulating supplies for selfish gain. The Organization of the Petroleum Exporting Countries makes an easy scapegoat for politicians. It has been a target of derision by U.S. leaders since the Arab oil embargo of 1973. But OPEC doesn’t have the same influence it once did. Now it is just one factor in prices, which are being affected by everything from geopolitics to the growing demand for gasoline and diesel fuel.

Barclays Chief Executive Staley Fined Over Whistleblower Scandal

British bank regulators on Friday fined James E. Staley, the chief executive of Barclays, over his attempt to unmask a whistleblower within the bank. The bank, however, said it would continue to stand by its top executive. Barclays said that two British regulators, the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority, had fined Staley, although it did not disclose the amount. The regulators also required Barclays to submit reports on parts of its whistleblowing program, the bank said, although it added that the regulators did not take any action against Barclays itself.

Wells Fargo Pays $1 Billion to Federal Regulators

Wells Fargo will pay two federal regulators a total of $1 billion to settle an array of investigations into its mortgage and auto-lending practices. The settlements, with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, were announced Friday. The joint action is the most significant move by federal banking regulators under the Trump administration.

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

Electric scooters have arrived en masse in cities like Los Angeles, San Francisco and Washington, with companies competing to offer the dockless and rechargeable vehicles. The problem is that cities have been shocked to discover that thousands of electric scooters have been dropped onto their sidewalks seemingly overnight. Often, the companies ignored getting city approval to set up shop. Travis VanderZanden, the chief executive of electric scooter company Bird Rides, said given how enormous a social shift he believes his scooters are, he was not surprised it ruffled some feathers. But people would eventually adjust, he said.

U.S. Investigating AT&T and Verizon Over Wireless Collusion Claim

The Justice Department has opened an antitrust investigation into potential coordination by AT&T, Verizon and a telecommunications standards organization to hinder consumers from easily switching wireless carriers, according to six people with knowledge of the inquiry. In February, the Justice Department issued demands to AT&T, Verizon and the GSMA, a mobile industry standards-setting group, for information on potential collusion to thwart a technology known as eSIM. The technology lets people remotely switch wireless providers without having to insert a new SIM card into a device.

FAA Orders Closer Engine Inspections

The Federal Aviation Administration on Friday issued an emergency order instructing airlines with the same type of engine as the one that failed catastrophically Tuesday on a Southwest Airlines Boeing 737 to more thoroughly inspect the engines’ fan blades. The agency told airlines to perform ultrasonic inspections — which can detect flaws or cracks not visible to the unaided human eye — within the next 20 days. The FAA’s order came shortly after the manufacturer of the engines, CFM International, issued guidelines for the ultrasonic inspections.

CNN’s Tapper Publishing His First Novel

Jake Tapper doesn’t seem to get rattled easily. He’s got a TV anchor’s unflappable poise and immovable hair, and radiates an almost eerie calm when a dozen explosive stories break during his daily CNN show. But during a recent interview at CNN’s Washington headquarters, Tapper confessed he was nervous. On Tuesday, he’s publishing his first novel, “The Hellfire Club,” a political thriller set in 1954. “It’s nerve wracking,” Tapper, said. “You tinker with it until the last possible second. I can’t pick it up without thinking, oh, I wish I could change this word.”