Afternoon Coffee: Oil Prices Remain Low Today, EU Approves FedEx Acquisition of TNT Express

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Oil prices slumped to a 12-year low on Thursday, and today, prices are not much better. Brent fell to $33.57 a barrel today and prices for West Texas Intermediate were at $33.06.

The European Commission has approved the proposed merger of FedEx and TNT Express. The EU said it did not believe the deal would create any competition concerns.  

A recent report said some producers in China are growing genetically modified corn, despite the country’s ban on commercial production of GMO grains. The investigation by Greenpeace found the majority of grains sampled in supermarkets and fields contained GMO strains that are illegal in China.

U.S. retail sales were up 3.3% in the final months of 2015, despite the fall in foot traffic at physical stores during the holiday season. The data from First Data Corp. shows retail sales between Oct. 31 and Jan. 4 grew about the same as the same period in 2014.

 

 

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