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Newspaper
The Gazette
Location
Medina, Ohio, United States of America
Date
Oct 14, 2022
Page
7
Stocks rallied from morning losses after a worse than expected inflation report. The S&P 500 rose 2.6 percent, the Dow swung 1,500 points off its low, and the Nasdaq gained 2.2 percent. The rally ended a six day skid, while analysts questioned Fed policy moves ahead.
Inflation accelerated in September with core prices up 6.6 percent from a year earlier and overall prices 8.2 percent, signaling persistent pressures. Housing costs rose 0.8 percent while gas eased, and officials warned that inflation is not decelerating despite efforts and price declines in some durable goods.
Millions of retirees will see an 8.7 percent boost starting January the largest cost of living adjustment in over four decades. The average retired worker will receive about 1827 dollars monthly while Medicare Part B premiums fall 3 percent boosting take home.
Netflix will launch an ad supported version on November 3 priced at 7 dollars per month in the United States, offering a deep discount from the 15.50 dollar ad free plan. The service will include about four to five minutes of ads per hour and will not support offline downloads. It will roll out in multiple countries including Australia Canada France Germany Italy Japan Korea Mexico Spain and the United Kingdom.
Ohio plans about 156.3 million in tax incentives and infrastructure upgrades for a Honda LG Energy Solution battery plant in rural Fayette County, 40 miles from Columbus. The project aims to make Ohio a North American EV hub with a 3.5 billion joint venture, hiring 2,200, while Honda also commits 700 million and 300 jobs at three Ohio plants to prepare EV production.
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