Must Read Money Stories For Wednesday, April 22

by April 22, 2015


Trash talk. New York mayor Bill De Blasio plans to celebrate Earth Day by announcing a plan to cut his city’s waste by 90 percent, according to the Associated Press. New York would accomplish this by simplifying its recycling program, as other cities already have done, and by separating out compost from what ends up in landfills. New York will be the largest city in the Western Hemisphere to adopt such a plan, the AP reports. And while you’re checking out that news, you might also want to revisit this story from a recent episode of This American Life, which covers the contentious history of New York’s waste.

Whole lotta shakin’. On Tuesday, a state agency in Oklahoma officially recognized the link between controversial “hydraulic fracturing” drilling operations and recent earthquakes in the state. Meanwhile, the Dallas Morning News reported a separate study reached the same conclusion about earthquakes in North Texas. Previous studies pointed toward drilling methods as the cause of earthquakes in Ohio. Confirmation of the connection between drilling and seismic activity is leading to more calls to regulate hydraulic fracturing. But Texas may not be headed for new regulations. The Dallas Morning News also wrote about activity in the state legislature that would prohibit local governments from setting their own rules on controversial drilling practices.

Chicken crisis. NPR’s The Salt digs into the mystery of how bird flu has been spreading into Midwestern poultry farms, despite meticulous attempts to stop it. This strain of bird flu poses no harm to humans, but it’s wreaking havoc on poultry farms. One massive Iowa farm is expected to kill off five million chickens later this week because of the disease. NPR says that flock alone represents nearly two percent of all egg-laying chickens in the U.S.

Not so fast. Remember the “flash crash“? That, weird, afternoon blip in the stock market in May of 2010 that briefly wiped out a trillion dollars in market value? There was an official government report about how it all went down, and the story had been that high frequency trading was to blame. But on Tuesday, the U.S. Department of Justice added another chapter to the story. It dropped an indictment on a London trader, who allegedly set up an elaborate, fraudulent trading scheme which helped trigger the flash crash. Read all about this latest wrinkle over at Reuters.