Must Read Money Stories for Thursday, June 30

by June 30, 2016

MRMS

Three Amigos Summit.

The nations of North America have reached a new agreement on clean energy production. The deal was announced yesterday during a meeting between the leaders of Canada, the U.S. and Mexico. The CBC reports the nations agreed to source half of all their energy production from clean sources by 2025. Dubbed the “Three Amigos Summit,” the meeting also featured lots of talk of international cooperation on trade, despite the rhetoric happening elsewhere.

Pricey drugs.

Bloomberg dug deeper into the numbers behind pharmaceutical drug prices and has some helpful graphics on what they found. The big takeaway: Prices for some of the top selling drugs have raced upward at more than twice the rate of inflation in recent years. That result even factors in both the list price of the drugs, and the secret discount rate pharmaceutical company’s often offer to big-time buyers.

Puerto Rico plan.

The U.S. Senate was scheduled to vote late Wednesday on a plan to save Puerto Rico from a massive default on its debt. The Hill reports policymakers are racing to put together the deal before a Friday deadline for Puerto Rico to make a bond payment on its debts. Meanwhile, over on CNBC’s website, Puerto Rico’s governor writes that it’s already too late, the island territory will default on its $70 billion in debt, regardless of what happens in Washington D.C. this week.

Free shipping.

Walmart is entering the free shipping business. Slate writes the big box retailer announced a new, free, 30-day trial period for its free two-day shipping membership program. Walmart’s ShippingPass program comes with a $49 per year subscription price after that first month. The plan is meant to help Walmart beat Amazon at its own game in the online retail world.

Cumbre de Líderes de América del Norte” by flickr user “presidenciamx” CC license CC by 2.0.