Must-Read Money Stories for Tuesday, Nov. 29

by November 29, 2016
Energy companies are looking to drill again (Photo via Maersk Drilling on flickr, CC by-NC-ND 2.0)

Energy companies are looking to drill again. (Photo via Maersk Drilling on flickr, CC by-NC-ND 2.0)

Amazon fakes

Knock-offs and counterfeits have been spreading on Amazon, and Bloomberg reports the online retailer is finally getting serious about a crackdown. Amazon has started asking merchants to sign up on a registry before they can offer certain brands on the site. And there’s big money at stake for Amazon to get it right. Bloomberg reports the company lost out on selling officially licensed products from Major League Baseball and the NFL largely because of fears over having to compete with counterfeits on the same page.

Drill baby drill

Energy companies are finally stepping up their investments in new wells and other technology needed to boost output, according to The Wall Street Journal. The Journal reports investment in the industry dried up in 2014 as gas prices plummeted, and no one was interested in boosting production. Now, with more stable prices, oil and gas firms are prospecting again, and The Journal reports that could create a boost for the rest of the economy as well.

Consume mass quantities

Mass consumption was not always as hot as it is today. The Atlantic has a fascinating, quick history of how consumption became cool over the course of several centuries. Economists weren’t always into the idea that spending on unnecessary goods could help the economy hum. But their views changed during the 1800s, and consumerism became king. But, as climate change looms, is it time for a new paradigm of economic vitality?

No news

Canadians are contemplating a future with no major newspaper company. NiemanLab reports Canada’s two largest outlets, Postmedia and Torstar, are struggling. Together, they account for nearly half of Canada’s newspapers, and employ half of the nation’s daily journalists. The decline of the Canadian press has mirrored what’s happened in the U.S., though it may be more severe. At least so far.

Maersk Intrepid next to its sister rig” by flickr user Maersk Drilling, CC by-NC-ND 2.0