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Business Watch: Glut problems beyond oil
May 31, 2017 / 9:34 PM / 7 months ago

Business Watch: Glut problems beyond oil

What happened here?

A miner holds a lump of iron ore at a mine located in the Pilbara region of Western Australia, December 2, 2013. REUTERS/David Gray/File photo

The U.S. government may have overpaid drugmaker Mylan N.V. by as much as $1.27 billion between 2006 and 2016 for its EpiPen emergency allergy treatment. Commenting on an analysis of the payments carried out by Department of Health and Human Services' Office of Inspector General, Republican Senator Chuck Grassley said: "Taxpayers have a right to know what happened here and to be repaid whatever they are owed." Read more here

Tying an immigration crackdown to the health of the economy

A crackdown on immigration may end up hitting the U.S. economy as immigrants increasingly choose to stay home and spend less, said Dallas Fed President Robert Kaplan. Read the full story here here

Not just oil

Worries about the global oil glut and the potential ineffectiveness of an OPEC-lead deal to curb prduction are well know. But crude is not the only glut victim. Despite a stunning recovery in 2016, iron ore is now facing a stubborn oversupply that sent the commodity down 15 percent in May alone.

Read more here

Climate activists bag a win at Exxon

Exoon's CEO said the company would reconsider how it communicates the risks it faces from climate change after shareholders approved a measure calling for increased transparency. More here

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