The bottom line
A total of $434 billion in corporate bonds were sold globally in September. The average yield on a U.S. investment-grade bond index was 2.96 percent.
U.S. oil production is on track to produce an average of 12.2 million barrels a day in 2019, up from 11 million per day last year. U.S. shale now accounts for roughly 10 percent of the world’s oil supply.
The Wall Street Journal
WeWork’s Adam Neumann isn’t the only CEO recently out of a job. In August, a record 159 chief executives at U.S. companies left their posts, bringing the number of exits by heads of U.S. businesses to 1,009 this year.
Forever 21 is closing 178 stores in the U.S. after filing for bankruptcy. The fast-fashion retailer was slow to adapt to e-commerce; only 16 percent of its sales are made online.
Fines under a recent Russian law making it an offense to disparage the government on the internet have averaged 30,000 rubles, or $462. For comparison, a left-wing protester in France was ordered to pay 30 euros, or about $33, in 2013 for waving a insulting sign at President Nicolas Sarkozy. That fine was suspended.
Kids are earning an average of $6.11 in allowance for each hour they work, a 38 percent increase from 2016, according to a survey by the American Institute of CPAs. In that same period, the average hourly wage rate for all Americans rose 10.5 percent.