Cheap oil prices are proving to be extremely beneficial for some companies, including airlines, farmers, freight haulers and manufacturers. The savings on fuel is being used to hire more employees and boost revenue.
China, too, has reported that the reduced oil prices are slashing import and export costs, increasing the country’s trade surplus to $54.47 billion. The surplus is a new record for China, beating the previous record of $49.87 billion set in August.
Pharmaceutical firm Merck & Co. will buy Cubist Pharmaceuticals Inc. for $8.4 billion. Merck’s Chief Executive Ken Frazier said the purchase is about growing the company and expanding its footprint in the drug market.
American Airlines merged with US Airways late last year, but in 2015, the companies will, for the first time, join all their employees under one contract – a task proving to be difficult. Another task the merged companies will face in the new year is combining data systems together.