(CNN Money) -- Wells Fargo, scrambling to cut costs and offset soaring legal expenses, plans to pull the plug on 800 more bank branches by 2020. The planned closings, announced on Friday, will leave Wells Fargo with about 5,000 branches. The bank closed more than 200 branches last year, but still finished the year with more than 5,800, the most in the United States. On a conference call with Wall Street analysts, Wells Fargo execs pinned the closings on Americans' increasing preference for online and mobile banking.
(CNN Money) -- Across the country, many Americans will ring in 2018 with a raise. On December 31 and January 1, the minimum wage will go up in 18 states and about 20 cities and counties, according to an analysis by the National Employment Law Project.
(CNN Money) -- The NFL has canceled the final Sunday night football game of the season. Don't worry, no one was going to watch anyway. Next Sunday's game had two disadvantages: The games all had a likelihood of being dull by the time Sunday night rolled around. And this coming Sunday is New Year's Eve, a day when historically few Americans watch television.
(CNN Money) -- The "x"citement might be over for the iPhone X. Shares of Apple and its suppliers tumbled this week after multiple industry analysts predicted weak demand for the new flagship iPhone. Apple's stock slid by as much as 4% in premarket trading Tuesday. The radically redesigned iPhone X was supposed to give Apple a boost following several years of sinking sales. Early sales reports were positive, and Morgan Stanley reported last week that the iPhone X is especially hot in China.
(CNN Money) -- ESPN is laying off about 150 more people. Most of the affected jobs are in studio production, digital content and technology, ESPN President John Skipper told staff on Wednesday. "We appreciate their contributions, and will assist them as much as possible in this difficult moment with severance, a 2017 bonus, the continuation of health benefits and outplacement services," Skipper said in a memo posted online by the network.
(CNN Money) -- Wells Fargo has fired one of its most powerful executives for misconduct. The scandal-ridden bank said Friday that it fired Franklin Codel, head of the consumer lending division, which churns out mortgages and auto loans. But Wells Fargo stressed it wasn't related to sales tactics, nor to the performance of the division. Instead, the bank said Codel violated company policy "during a communication he had with a former team member regarding that team member's earlier termination."
(CNN Money) -- First, the good news for Target. The struggling retailer actually had a decent third quarter. Profits and sales topped Wall Street's forecasts. Now, for the bad news. Target's outlook for the fourth quarter isn't particularly jolly. And that's got investors spooked. Shares of Target fell 8% in early trading Wednesday after the retailer said it expects fourth quarter earnings to be between $1.05 and $1.25 a share. Wall Street was expecting a profit of $1.24 a share, so the low end of the range is disappointing.
(CNN Money) -- The United States can look forward to many more years of an unprecedented oil and gas boom. The International Energy Agency predicted Tuesday that a dramatic increase in shale production will transform the U.S. into the world's largest exporter of liquefied natural gas by the mid-2020s. Another milestone will be reached soon after: By the late 2020s, the U.S. -- which only lifted its ban on oil exports in 2015 -- will ship more oil to foreign markets than it imports.
(CNN Money) -- General Electric is getting rid of the light bulb, the most iconic product of GE's 125-year existence. Unveiling GE's roadmap , new CEO John Flannery said that the company would focus on its health, power and aviation businesses. Lighting didn't make the cut to be part of GE's future.
(CNN Money) -- A handshake. A pat on the back. A hug. A shoulder rub. When it comes to workplace contact, what's OK and what's not? A good rule of thumb, from lawyers and etiquette experts alike: if you're considering anything beyond a handshake, proceed with caution.