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Reuters
Nissan takes $687 million loss as sells Russian business for 1 euro
TOKYO (Reuters) -Nissan Motor Co Ltd will hand over its business in Russia to a state-owned entity for 1 euro ($0.97), it said on Tuesday, taking a loss of around $687 million in the latest costly exit from the country by a global company. The Japanese automaker transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia’s industry and trade ministry said.
Investor’s Business Daily
These Are The 5 Best EV Stocks To Buy And Watch Now
EV stocks have multiplied in Tesla’s wake and as electric cars look to go mainstream. Here are the top-rated electric-vehicle makers.
MarketWatch
I’m the US chief economist at Vanguard, and here are 5 things investors should consider now amid high inflation
Altogether, the seasonally adjusted inflation still stood at 8.3% over the past 12 months in August. “High inflation is unlikely to become a permanent feature of the economy,” Aliaga-Diaz assured, adding that “central banks are trying hard to bring it down” though that “may cost them a mild recession.” Instead, Aliaga-Diaz says the best strategy is to look ahead “over medium and long-term horizons,” and that the “odds are that markets will be better than the last few months.”
Yahoo Finance
The 517-hp Polestar 3 EV SUV will be built in America
Polestar officially took the wraps off its latest creation, the Polestar 3 electric SUV. The stats are quite impressive, but what’s even more intriguing is where the Polestar 3 will be made.
“Polestar 3 is a powerful electric SUV that appeals to the senses with a distinct, Scandinavian design and excellent driving dynamics,” said Polestar CEO Thomas Ingenlath in a statement. “It takes our manufacturing footprint to the next level, bringing Polestar production to the United States. We are proud and excited to expand our portfolio as we continue our rapid growth.”
Bloomberg
Apple to Withhold Its Latest Employee Perks From Unionized Store
(Bloomberg) — Apple Inc. is withholding its latest employee benefits from staff who work at its sole unionized retail store, a move that could potentially inflame labor tensions at the technology giant.Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIntel Is Planning Thousands of Job Cuts in Face of PC SlumpUS Core Inflation Seen Returning to 40-Year High as Rents RiseA First Look at the Ritz-Carlton Superyacht: PhotosPutin Says All Infrastructure at Risk After
MarketWatch
A shocking number of baby boomers and Generation X plan to work past 70—or forever
Almost half of baby boomers and more than one-third of Generation X expect to work past age 70 or do not plan to retire at all, highlighting the need for backup plans in case life’s unexpected events get in the way of such goals. According to a study by nonprofit Transamerica Center for Retirement Studies in collaboration with the Transamerica Institute, 49% of baby boomers expect to, or already have, extended their working lives past 70 or do not plan to retire. Collinson pointed out that most people retire sooner than they had planned, with the majority retiring before age 65 due to employment-related reasons, their health or the health of a loved one.
The Wall Street Journal
Saudi Arabia Lures Executives to Neom With Million-Dollar Salaries, Zero Taxes
The megadevelopment is paying senior executives roughly $1.1 million a year, according to an internal document, showing how the kingdom is using large pay packages to entice global talent to Crown Prince Mohammed bin Salman’s national transformation plan.
Reuters
EU clears Celanese to buy DuPont unit on divestment condition
The European Commission has approved the proposed $11 billion acquisition of Dupont’s mobility and materials business by U.S. chemicals company Celanese Corp, on the condition that the latter divests a plastics-producing business. Celanese announced the deal in February but had to offer remedies to address EU antitrust concerns. The combined entity would have been the largest producer of thermoplastic copolyester (TPC) in the European Economic Area and globally, with only a few alternative suppliers remaining.
The Wall Street Journal
Cruise Stocks Don’t Lead to Buried Treasure
Regulators are allowing more ships in the water, capacity is up, and mask and vaccine restrictions are lifting. So why are investors bailing?
Bloomberg
Musk’s Twitter Buyout Gambit Is Getting Costlier by the Day
(Bloomberg) — If Elon Musk really does go through with his acquisition of Twitter Inc., the social media giant will face an annual interest burden of nearly $1.2 billion on its debt – a problem that’s only going to get worse as rates continue to rise.Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIntel Is Planning Thousands of Job Cuts in Face of PC SlumpUS Core Inflation Seen Returning to 40-Year High as Rents RiseA First Look at the Ritz-Carlton Superyacht: P
The Wall Street Journal
Moderna Stock Jumps After Cancer Vaccine Announcement
Shares of Moderna surged more than 11% on Wednesday after the biotech company [announced](https://investors.modernatx.com/news/news-details/2022/Merck-and-Moderna-Announce-Exercise-of-Option-by-Merck-for-Joint-Development-and-Commercialization-of-Investigational-Personalized-Cancer-Vaccine/default.aspx) it would develop and sell a personalized cancer vaccine with Merck. The stock was the biggest gainer on the S 500 around midday. Shares of Merck were little changed. Merck will pay Moderna $250 m