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(Bloomberg Opinion) -- The global stock market drifted lower on Monday, posting its biggest decline in more than three weeks. Yes, there’s still plenty of time for equities to recover and gain for a sixth consecutive week, which would match their longest winning streak since they advanced for 10 consecutive weeks over the course of late 2017 and early 2018. But doing so may hinge on a critical event Tuesday. Even with the modest decline, the MSCI All-Country World Index is still up 19% this year. The surge in recent weeks is due largely to optimism that the U.S. and China are close to reaching an agreement on “phase one” of a broad trade deal. It doesn’t matter that the details are likely to be modest; what matters is that it would signal that the trade war isn’t worsening. That’s why President Donald Trump’s address to the Economic Club of New York on Tuesday is so critical. No...
For A Living documents extraordinary women thriving within unique careers. From a professional cuddler to a celebrity exorcist, we explore niche professions that women in the field are dominating. It’s not uncommon for people to casually refer to their dream jobs as their “callings,” but apparently, some jobs can actually only be done by those who were truly called to them by what seems to be a higher power. Take Rachel Stavis, who is an exorcist.Stavis first discovered her ability to see what she calls “entity” — not demons — when she was a kid. However, she didn’t start performing exorcism professionally until about a decade ago. According to Stavis, around 85% of the population is walking around with possession, and they don’t even know it. Through her exorcisms, she helps release that dark energy from her clients. Though she refers to this work as her business, Stavis doesn’t charge for exorcisms. “I...
(Bloomberg) -- As coal prices tumble and bankruptcies rise, two leading U.S. miners are pushing ahead with plans to expand.Arch Coal Inc. and Consol Energy Inc. remain on track to open new mines to dig steelmaking, or metallurgical, coal from the West Virginia hills. It comes as the market is already glutted, with prices down about 30% in 12 months.The decisions to plow forward are bets by Arch and Consol that they can produce the coal cheaply enough to profit even as their rivals retrench. Bloomberg Intelligence expects the global supply of the metallurgical variety to exceed demand this year by 2.7%, as economic headwinds blunt steel demand. At least four U.S. companies have shut mines since August. Five have filed for bankruptcy this year.“There is a lot of pain in the marketplace,” Consol Chief Executive Officer Jimmy Brock said during a conference call last week. “We expect to hold our...
