BUSINESS NEWS MARCH 23RD, 2016
OIL PRICE DROUGHT CONTINUES
Despite a massive spike in oil prices, the excess supply continues to play havoc on the global market. U.S. supply saw a sudden spike of nearly 10 million barrels, putting the new total at 532.5 million barrels of oil. Despite a rise in oil prices to above $40 a barrel, the oil glut shows no sign of easing. There were hopes that OPEC would freeze global oil production, but so far only Saudi Arabia has done so. On Wednesday, stocks fell approximately 3%, to just above $40 a barrel.
STUDENT RUN INVESTING CLUB TURNS INCREDIBLE PROFIT
At Lafayette College, every Friday, a group of 100 students head to the auditorium to discuss stocks and bonds. The investing club started back during the days of World War II, with an endowment of $3000. Today, they stand at $530,000. The club is an all-inclusive one, with majors ranging in everything from economics to art. One club member said that if the club had reinvested the profits, they could have gone to nearly $4 million. The club’s founder, Officer John Tarbell, initially was against the formation of such a club due to the students’ tendencies to make unwise investments. However, when he saw how well they performed, he agreed.
WAGE GAP DEPENDS ON WHAT YOU DO FOR A LIVING
The wage gap between men and women is one of the most contested issues in this election cycle. While the gap definitely does exist, just like other things, it changes based on individual cases. On balance, men do make more than women. However, studies have shown that the difference decreases significantly when factors such as experience and job title are taken into consideration. A study done by Glassdoor showed that with all these factors taken into account, women make approximately 95 cents for every dollar that men make.