6 Most Important Things in Business Today
U.S. oil production should rise over the next five years, according to the International Energy Agency. Reuters says:
U.S. shale oil output is set to surge over the next five years as drillers recover rapidly from a three-year slump, the International Energy Agency said on Monday, sharply upgrading its previous growth forecasts.
A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output in order to battle a global glut materially improved the outlook for other producers as oil prices rose sharply throughout the year, the IEA said.
The Chinese government has targeted a gross domestic product growth rate of 6.5% this year. According to Reuters:
China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said Monday.
The goal was kept unchanged even though the economy grew 6.9 percent last year and exceeded the government’s target. Sources previously told Reuters that China will maintain its growth target at “around 6.5 percent”.
“Black Panther” was number one at the box office again. Box Office Mojo writes:
It was yet another monster weekend for Disney and Marvel’s Black Panther as the superhero feature became the third fastest film to ever reach $500 million domestic. Meanwhile, the weekend’s new wide releases came up just a bit short of Mojo’s pre-weekend forecast with Fox’s Red Sparrow taking runner-up position behind Black Panther and MGM’s Death Wish landing in third. It’s also Oscar Sunday, which means we’ll end this recap with a brief look at this some of year’s nominees and how they stack up at the box office.
Amazon.com Inc. (NASDAQ: AMZN) won’t sell certain Google products. According to Fortune:
Amazon will not stock new products from Google’s Nest unit, including a new Nest thermostat and a home security system. Nest, in response, will stop selling through Amazon altogether.
According to Business Insider, which broke the news, Nest employees who got the news on a conference call from Amazon were “under the impression that the decision had come from Amazon CEO Jeff Bezos,” though that impression hasn’t been confirmed.
SpaceX will launch a rocket for the 50th time. According to Ars Technica:
SpaceX launched its first Falcon 9 rocket less than a decade ago, in June 2010. Early next week, the California-based rocket company will go for its 50th launch of its workhorse booster.
The launch attempt will come as soon as early next Tuesday, 12:33am ET, from Kennedy Space Center in Florida. SpaceX will attempt to launch the Hispasat 30W-6 communications satellite to geostationary transfer orbit. The mission has a two-hour launch window.
It looks more and more like Amazon will pick Washington, D.C., as its second headquarters. According to Business Insider:
The race for Amazon’s second headquarters is heating up, and Washington, DC, just might be in the lead.
The evidence is now piling up that Amazon is looking seriously at the nation’s capital for its HQ2. After all, it might be the only place large enough to capture the company’s growing ambitions across multiple sectors with its high-profile colleges, strong transportation system, and high concentration of powerful people.