Category Archives: BUSINESS

Trump Trade War Causing “Rare Cracks” Within China’s Communist Party

Over the weekend, Trump claimed on Twitter that the US is winning the trade war with China for one simple reason: whereas US stocks are back to all time highs, the Chinese market has tumbled and remains mired in a bear market. Now, another – less naive – indication has emerged suggesting that the US is indeed getting the upper

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U.S. SET TO BECOME WORLD’S TOP OIL PRODUCER

The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play. The Energy Information Administration sees U.S. crude output averaging 11.8 million barrels a day in 2019, up from its 11.76 million barrel a day estimate in the June outlook. “In 2019, EIA forecasts that the United States will average

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Disability Applications Plunge as the Economy Strengthens

The number of Americans seeking Social Security disability benefits is plunging, a startling reversal of a decades-old trend that threatened the program’s solvency. It is the latest evidence of a stronger economy pulling people back into the job market or preventing workers from being sidelined in the first place. The drop is so significant that the agency has revised its

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Another Defense Agency to Tap CIA’s Commercial Cloud

The U.S. Army agency responsible for providing military intelligence on foreign ground forces plans to use the C2S Cloud—the same cloud developed by Amazon Web Services for the CIA and intelligence community. The Army’s National Ground Intelligence Agencyissued a one-year task order earlier this month to purchase cloud services from the Amazon-developed cloud at the unclassified, secret and top secret

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Uber installs panic button for riders to curb sexual assault

Uber is adding additional features — including a panic button — to help stop sexual assault and harassment. The ride-sharing company has been facing accusations of sex crimes from its users directed at its drivers for years. A class-action lawsuit, filed in November 2017, alleges that thousands of women have “endured unlawful conduct by their Uber drivers including rape, sexual

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14 states hit record-low unemployment

Fourteen states have set new records for low unemployment rates in the last year, nearly a decade after the recession put millions of Americans out of work. The states hitting new unemployment lows run the ideological gamut, from conservative Texas to liberal California, suggesting a recovery stronger than any particular political persuasion. In March, eight states saw new record lows,

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Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia

As OPEC’s efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits – and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has largely rebalanced the market and

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