Afternoon Coffee: Brexit Talks are Getting “Dramatic,” UPS Joins Blockchain Group

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Frustrations are growing between the European Union and the United Kingdom over how much Britain owes the bloc, the BBC reports. Negotiations on the conditions of Brexit cannot continue, however, until both sides reach an agreement on that issue, as well as on the future rights of EU citizens in the UK and the status of the UK-Ireland border.

UPS on Blockchain

Logistics giant UPS has joined the Blockchain in Trucking Alliance, an industry group created to guide the development of blockchain-based data-security software in the transportation industry, according to DC Velocity. UPS hopes its membership will help it find applications of the technology for its customs brokerage business, the company said.

Peak Oil

When will global oil demand hit its peak? Depends whom you ask. Bloomberg reports that oil use could peak in the late 2030s if electric car use booms more than expected; the Wall Street Journal reports that oil demand is not expected to peak before 2040. Both outlets are interpreting the same forecast by OPEC, which stands in contrast to several other predictions available, form nearer-term ones by Shell and Norway’s Statoil (as soon as 2025) to dismissals by Exxon and Chevron (peak demand not even in sight).

China Trade

And finally, a trade update: China’s imports soared 17.2% in October while exports rose 6.1%, the Wall Street Journal reports, pushing its trade gap with the US ever higher.

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