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The Wall Street Journal
U.S. Gasoline Prices Are Climbing Again and May Get Worse
Gasoline prices are ticking up after a roughly 100-day decline, threatening to inflict new pain on consumers who have been grappling with widespread inflation for more than a year.
Bloomberg
Musk Is Said to Have Discussed Lowering Offer Price With Twitter
(Bloomberg) — Elon Musk’s proposal to revive his $44 billion offer for Twitter Inc. followed earlier discussions about cutting the price that failed to yield an agreement, according to people familiar with the matter.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Secretive Chip Startup May Help Huawei Circumvent US SanctionsMusk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialNord Stream Leaks Caused by Detonations in Sign of Sabot
American City Business Journals
Ashburn’s DXC Technology confirms it is mulling a takeover bid
DXC Technology Co. (NYSE: DXC), an IT services provider headquartered in Ashburn and one of Greater Washington’s largest public companies, has confirmed it is fielding a takeover offer. In a statement Tuesday afternoon, DXC said its management “has been approached by a financial sponsor” regarding a potential acquisition.
Barrons.com
Lumen Stock on Track for Lowest Close Since 1991 as Analyst Cites Risks to Dividend
Lumen Technologies shares tumbled Wednesday after an analyst at Wells Fargo cited concerns over risks to the telecommunication company’s dividend. Wells Fargo analyst Eric Luebchow downgraded shares of Lumen (ticker: LUMN) to Equal Weight from Overweight and cut his12-month price target to $8 from $12.50. Shares of Lumen fell 10% Wednesday to $7.22 and were on track for their lowest close since September 1991.
Reuters
Tyson Foods moves corporate jobs to Arkansas in latest blow to Chicago
CHICAGO (Reuters) -Tyson Foods Inc is joining other corporate heavyweights in moving jobs out of Illinois. The biggest U.S. meat company by sales said on Wednesday it will relocate all corporate employees from offices in Chicago and suburban Downers Grove, along with those in Dakota Dunes, South Dakota, to its headquarters in Springdale, Arkansas. It is the latest shakeup for Tyson, which has about 1,000 corporate employees in the Chicago-area and South Dakota offices.
Bloomberg
Chicago Faces More Corporate Departures as Tyson Moves Out
(Bloomberg) — America’s top meat company is following in the footsteps of hedge fund Citadel and Boeing Inc. with plans to move white-collar workers out of the Chicago area.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialMar-a-Lago Documents Included Pardons, Emails, Legal BillsSecretive Chip Startup May Help Huawei Circumvent US SanctionsStocks Take Breather After Furious Rally F
Reuters
Explainer-Why are fuel prices rising again in some U.S. regions?
After a tumultuous year, U.S. gasoline prices have been steadily falling from peaks reached in June due to high demand and tight global refining supply. Although 60% of U.S. states saw gasoline prices fall week on week, the national average gas price increased by about 7 cents per gallon in the same period, according to data from the American Automotive Association. Last week top White House officials met with oil executives to discuss Hurricane Ian and low gasoline inventories as President Joe Biden warned the industry not to price-gouge consumers.
MarketWatch
Porsche stock continues to climb after IPO
Shares in luxury automaker Porsche edged up 6% on Thursday and over 10% since its launch on the Frankfurt Stock Exchange in Germany last week.
Reuters
Fed’s Bostic says inflation fight “still in early days”
The U.S. Federal Reserve’s fight against inflation is likely “still in early days,” Atlanta Fed president Raphael Bostic said Wednesday, becoming the latest U.S. central banker to caution against the likelihood rates would be reduced in response to any weakening of the economy. Despite “glimmers of hope” in recent data, Bostic said “the overarching message I’m drawing…is that we are still decidedly in the inflationary woods, not out of them,” with the Fed’s target funds rate needing to rise to around 4.5% by the end of the year. In prepared remarks to the Northwestern University Institute for Policy Research, Bostic said he would like to cap rates at that point long enough to assess where the economy is heading.
Reuters
Lawmakers press U.S. Commerce for tougher checks on semiconductor chip subsidies
A group of Democratic lawmakers wants the U.S. Commerce Department to take additional steps to ensure semiconductor companies do not use government subsidies to conduct stock buybacks. In August, President Joe Biden signed legislation providing $52 billion in government funding to boost semiconductor manufacturing and research and a 25% investment tax credit for chip plants estimated to be worth $24 billion.
MarketWatch
Tyson Foods to move employees from Illinois and South Dakota corporate offices to Arkansas
Tyson Foods Inc. said Wednesday that it will relocate all employees at its corporate offices in downtown Chicago and suburban Downers Grove, Ill., and Dakota Dunes, S.D., to its world headquarters in Springdale, Ark. The meat and processed-foods company said the first phase of the relocation will start in early 2023. “Bringing our talented corporate team members and businesses together under one roof unlocks greater opportunities to share perspectives and ideas, while also enabling us to act qui
SmartAsset
Getting a New Job? Don’t Forgot to Take That Retirement Fund with You
The IRS established the 401(k) as a tax-advantaged plan for employees, rather than the self-employed. This works fine most of the time, but in an era when people change jobs far more often than they used to it also has … Continue reading → The post Cashing Out a 401(k) After Leaving a Job appeared first on SmartAsset Blog.
Investopedia
How to Plan for Medical Expenses in Retirement
Health care can be one of the biggest expenses a person faces in retirement. A typical retired couple age 65 in 2022 can expect subsequent medical expenses of $315,000, according to the annual Fidelity Investments Retiree Health Care Cost Estimate. Many people aren’t mentally or financially prepared for the high cost of health care in retirement.
