- BusinessBusiness Insider•12 hours ago
Oil is going through the roof following a Reuters report citing sources that say OPEC has reached a deal to limit oil production, with the deal going into effect in November. Prices for Brent crude oil, the international benchmark, surged by as much 6.3%, to $49.44 per barrel, around 2:33 p.m. ET. "OPEC agreed on Wednesday to reduce its oil output to 32.5 million [barrels per day] from the current production levels of around 33.24 million bpd, two OPEC sources told Reuters.
"It's our loss — I just wish American politics allowed for this kind of rational discussion." -Jim Cramer No one talks about the actual benefit that deals like NAFTA bring to American workers, namely cheaper products. Meanwhile, the average Mexican worker only receives about $3 per hour. The country has fewer worker and environmental protections. There is state provided healthcare, and very little absenteeism. Shareholders want the companies to move to Mexico for an immediate earnings-per-share boost. More important for consumers, Mexico has kept the price of cars down because of its low costs, Cramer said. "That is a real trade-off and we need to talk about it, rather than pretending it doesn't
- financeAssociated Press•13 hours ago
WASHINGTON (AP) — Incidents of unruly passengers on planes are increasing, and more effective deterrents are needed to tackle the problem, a global airline trade group said Wednesday.