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  • Money Basics: The History of Minimum Wage

    Over 2.2 million workers make minimum wage or less, which is currently set at a Federal rate of $7.25 per hour.

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  • Shell Loads Oil in Libya for First the Time in Five Years
    Bloomberg1 hour ago

    Shell Loads Oil in Libya for First the Time in Five Years

    Royal Dutch Shell Plc, the world’s largest oil trader, is said to have loaded its first crude from Libya in five years over the weekend, adding to evidence of the OPEC nation’s comeback. The cargo on Saturday is for 600,000 barrels of crude from the Zueitina port, according to two people familiar with the matter who asked not to be identified because the information is private. A Shell spokesperson declined to comment on the shipment, but said the company’s Shell International Trading & Shipping “has a history marketing Libyan crudes. We welcome new business opportunities with Libya’s National Oil Corp.” Mustafa Sanalla, chairman of the NOC, didn’t answer phone calls seeking comment. Libya this

  • With Some Countries, China is in the Red
    Bloomberg3 hours ago

    With Some Countries, China is in the Red

    China’s big trade surpluses hog all the headlines, but imbalances go both ways. South Korea’s $72.2 billion surplus with the People’s Republic in fact tops a list of more than 40 nations that export more to the country than they import from it, followed by Switzerland and Australia, data compiled by Bloomberg show. Imports by the world’s biggest exporter show how its humming factories prop up other economies - and for some of those, what’s on the line should they find themselves involved with territorial disputes or geopolitical tensions with one of their biggest customers. In Asia, South Korea and Malaysia are among the most vulnerable to China’s economic arm-twisting, while Japan and Vietnam look relatively immune, according to Bloomberg Intelligence estimates based on their trade surpluses with China as a share of total output.

  • Sempra Is the Mystery Third Bidder For Oncor
    Bloomberg21 hours ago

    Sempra Is the Mystery Third Bidder For Oncor

    Sempra Energy is the mystery third bidder for Oncor Electric Delivery Co. that’s competing with Warren Buffett’s Berkshire Hathaway Inc. and Paul Singer’s Elliott Management Corp., according to people familiar with the matter. San Diego-based Sempra has made a $9.3 billion offer for the Texas utility, said the people, who declined to be identified because the matter is not public. Lawyers disclosed that another bidder had emerged for Oncor during a bankruptcy hearing on Friday, without revealing the name of the suitor.