The daily business briefing: April 20, 2017

Fox fires Bill O'Reilly, regulators admit failing to act on Wells Fargo scandal "red flags," and more

A Wells Fargo bank in California
(Image credit: Getty Images)

1. Bill O'Reilly fired from Fox News

Longtime Fox News host Bill O'Reilly has been forced out over a wave of sexual harassment and verbal abuse allegations, the cable network's parent company, 21st Century Fox, announced Wednesday. The company recently hired a law firm to investigate one of the latest sexual harassment claims, which one of O'Reilly's accusers called the company's hotline to report. "After a thorough and careful review of the allegations, the company and Bill O'Reilly have agreed that Bill O'Reilly will not be returning to the Fox News Channel," 21st Century Fox said. More than 50 advertisers had ditched the combative prime-time host's ratings-leading show since The New York Times reported that O'Reilly and his employers had paid five accusers $13 million in settlements. O'Reilly denies the allegations, saying it was "tremendously disheartening" to be leaving due to false claims.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.