Afternoon Coffee: Oil Prices Continue to Fall, Canadian Pacific Files Complaint With US Justice Department


Oil prices are continuing to plummet this week, with U.S. crude prices reaching a low of $26.85 a barrel today. It was the first time U.S. oil prices sank below $27 since 2003.

Canadian Pacific Railway filed a complaint with the U.S. Department of Justice saying its competitors CSX Corp. and Union Pacific Corp are acting together to block Canadian’s proposed merger with Norfolk Southern Corp. Canadian Pacific said the rivals are working “feverishly against CP’s proposal” in order to protect their business, which is in violation of antitrust laws.

The President's Interagency Task Force to Monitor and Combat Trafficking in Persons, or PITF, recently met to discuss what measures the U.S. should take to continue to rid the supply chain of human trafficking and child and forced labor. Secretary of State John Kerry said during the meeting all U.S. agencies would be “working across the board” to review procurement practices and improve legislation to prevent this forced labor.

Wal-Mart announced it will merge its IT team with @Wal-MartLabs team to create a new division called Wal-Mart Technology. The retailer hopes the move will foster new collaboration.


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