Category: Finance

Wildfires in California remain only about 30 percent contained, despite a massive effort by fire crews to stop the blaze. According to a report from Reuters, the “Camp Fire” — as it is being called — has thus far destroyed 125,000 acres, leveled a town, and has claimed 42 lives. 7,600 buildings, including thousands of homes, […]

The Dow Jones Industrial Average fell by over 600 points after opening on Monday, thanks in large part to a poor performance from the technology sector. According to a report from NBC, the NASDAQ and the S&P 500 also finished in the red. However, their losses were minor compared to the Dow. Tech juggernaut Apple […]

West Texas Intermediate Crude (WTI), the grade of crude oil used as a benchmark for pricing in energy markets, ended this Friday down again; closing at $59.87. This marks the tenth consecutive day the benchmark oil price has fallen, heralding the longest continuous decline in oil since 1984. WTI entered bear market territory on Thursday, […]

China’s Alibaba Group, a major e-commerce website and company, reported record sales over the weekend during Sunday’s “Single Day” holiday sales event, which featured several promotions and discounts. According to a report from Reuters, the firm boasted $30 billion in sales during the event, with $10 billion being taken in during the first 60 minutes. […]

The midterm elections are over. Finally. What does that mean? Well, no more commercials, for one thing, but it also might (and the contingency of this prediction cannot be emphasized enough) mean a slow return to fiscal sanity. Historically, budgets tend to stabilize, and deficits tend to shrink, when government is divided. It has been […]

Today is Veterans Day, the one day a year where we as a country should come together and celebrate the hard work that the men and women of the armed services do every day to make the world a better place. For many veterans that dedication to service was the motivating factor to join the […]

This week, the Bureau of Labor Statistics (BLS) released data on job openings for the month of September. Openings were down slightly from the month of August — 7.009 million openings in September as compared to 7.293 million in August. However, the August numbers showed a record high number of job openings, and therefore September […]

Virgin Atlantic, the UK-based airline, is facing a potential strike by about half of its pilots who argue the airline’s benefits program is unfair. According to a report from Reuters, one of the two pilot’s unions — Professional Pilots Union (PPU) — is currently making initial preparations for a strike vote. Virgin Atlantic, owned jointly […]

Certain members of Wells Fargo executive leadership team were likely aware that the company’s auto insurance branch was possibly overcharging customers for years, yet delayed on taking any action to rectify the situation. According to a report from Reuters, the problem was known about for almost four years before the bank decided to end the […]

Socialism is not only death and repression, it is anarchy, too. Under socialism there is no means of coordinating economic activity. The planners plan for five years or they plan for ten, but the best they can do is guess what goods are needed and where they are needed most. Economic calculation is impossible without […]

The long-awaited sanctions against Iranian oil exports took effect earlier this week on Tuesday, a month after US President Donald Trump announced that he would be withdrawing from the 2015 nuclear deal. The new sanctions have loomed over the oil industry since their announcement, as many experts disagreed on the market ramifications. Although the White […]

Turkish President Tayyip Erdogan announced on Sunday that no other countries would be permitted by Ankara to drill for natural gas off the coast of Cyprus in the eastern Mediterranean sea. According to a report from Reuters, Erdogan made the announcement while attending the christening of two new Turkish warships — a submarine and a […]