On Monday, Amazon CEO and world’s richest human Jeff Bezos announced he was pledging nearly 8 percent of his net worth to fight climate change. This money, known as the Bezos Earth Fund, will be used to support “any effort that offers a real possibility to help preserve and protect […]
Jeff Bezos Can Control Earth’s Future With His $10 Billion Pledge
Philanthropy in itself, of course, isn’t a bad thing, and Bezos should be applauded for contributing to one of the most important causes in the world. Yet the power that billionaire philanthropists can wield–not to mention the income inequality surrounding it–has faced significant backlash, as noted in a recent WIRED […]
If Coronavirus Is Pressuring China’s Economy, Why Are Oil Prices Rising?
The price of Brent rose 10% over the past 7 days, to trade around $59 per barrel on Wednesday. The U.S. stock market made moves higher as well, although companies connected to China, such as Apple (NASDAQ:AAPL), saw their shares fall. If coronavirus is truly affecting China’s economy, as the […]
You Can’t Buy Friends, but Bloomberg Would Like to Rent Yours
Onstage during last night’s primary debate in Nevada, Mike Bloomberg found himself with no friends. But he’s got a plan to make some new ones in California. In advance of the state’s pivotal primary on March 3, the Mike Bloomberg presidential campaign is hiring more than 500 “deputy field organizers” […]
U.S. labor market remains strong; manufacturing likely stabilizing
(C) Reuters. A “Now Hiring” sign sits in the window of Insomnia Cookies in Cambridge By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus […]
Brexit makes integrating EU capital markets more urgent, Commision says
Economic Indicators5 hours ago (Feb 20, 2020 10:41AM ET) Brexit makes integrating EU capital markets more urgent, Commision says By Huw Jones LONDON (Reuters) – Britain’s departure from the European Union has created an unprecedented sense of urgency for “full and unwavering” political backing to integrate the EU’s capital market, […]
The Phil Flynn Energy Report: February 20, 2020
The crude-oil market is still coming back from the coronavirus sell-off as Libyan exports continue to zap global supply, and Venezuelan exports will stop moving as the U.S. hits Russia’s Rosneft trading unit with sanctions. Even a significant 4.36 million barrel increase in crude supply as reported by the American […]
ECB Warned of Caution on Economy Even Before Coronavirus Hit
(C) Reuters. ECB Warned of Caution on Economy Even Before Coronavirus Hit (Bloomberg) — European Central Bank policy makers warned against signaling too much economic optimism at their January rate-setting meeting, a view that proved prescient now that the coronavirus outbreak is dashing hopes for an upturn any time soon. […]
British shoppers and factories enjoy post-election bounce
Economy7 hours ago (Feb 20, 2020 08:28AM ET) (C) Reuters. People shopping on Oxford Street in central London By David Milliken and Andy Bruce LONDON (Reuters) – British shoppers started spending again early this year after a sluggish end to 2019 and industrial orders hit a six-month high, further signs […]
How a Princess Cruise Became a Coronavirus Catastrophe
When the Diamond Princess left the port of Yokohama in Japan on January 20, the 2,666 passengers on board were ready to unwind with a trip to China, Vietnam and Taiwan. But two weeks later they’d find themselves confined to their cabins, allowed out for only a few hours each […]