Jan 5, 2017

Apple sides with China and yanks NYT app

David McCabe, Neal Rothschild

Following Chinese claims that the NYT app violated local regulations, Apple pulled it from the country's app store. The news organization's website has been banned in China for five years. Financial Times and WSJ apps are still available.

Apple declined to comment on what Chinese regulations had been violated. CEO Tim Cook has said that the company follows the laws of the countries in which it operates.

What They're Saying: NYT statement: "This is a deeply regrettable decision."

Why it Matters: Following a year in which Apple's relationship with China soured, it's an attempt by the company to get on solid footing with the Eastern power.

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Coronavirus spreads to more countries, and U.S. ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. Meanwhile, Italy reported its first virus-related death on Friday.

The big picture: COVID-19 has now killed at least 2,251 people and infected almost 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

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Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

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