Published On: Thu, Aug 4th, 2022

Daily Dozen | Forbes: $4 Gas Returns; Walmart Layoffs; Top Next-Gen Advisors

Average gas prices continue to fall. Hundreds of thousands of monkeypox vaccine doses have shipped across the country, but supply still might not be enough. Former TikTok contractors say the social media company accumulated a cache of child sexual abuse material that it shows while training content moderators.

In The News Today

  • The average national price for a gallon of gas tumbled for 50 consecutive days, landing at $4.16 on Wednesday from its record high of $5.02 in mid-June. Stark discrepancies persist across the country; prepare to fork over more than $5 for a gallon in five states while you can get the most bang for your buck in Texas at $3.67.
  • The stock market rallied on Wednesday when the Dow jumped 1.3%, the S&P 500 rose 1.6% and the tech-heavy Nasdaq spiked 2.6%. The gains reverse back-to-back losses from earlier this week with tech and service sector stocks leading the rally.

Top Take-Aways

Mortgage applications climbed 1.2% in a week, coming as the 30-year fixed mortgage rate posted its largest weekly decline since 2020. Home buyers rushed to lock in rates that temporarily dipped even as the Federal Reserve hiked interest rates for a second consecutive time.

More than 336,000 doses of Jynneos monkeypox vaccines have been shipped across the country by the federal government since May—a supply that may fall substantially short of demand as cases spike and several cities and states declare public health emergencies.

Walmart, the nation’s largest private employer, is reportedly laying off 200 corporate workers as part of a restructuring effort that comes a week after the retailer slashed its quarterly and full-year profit forecasts.

A federal filing shows Bill Gates transferred billions of dollars worth of shares of Canadian National Railway and tractor and farm equipment maker Deere & Co. as part of the $20 billion donation to the Bill & Melinda Gates Foundation that Forbes exclusively reported in July.

After selling Minnesota Rubber and Plastics for $950 million, private-equity giant KKR is doubling down on employee ownership by distributing some of that cash to its 1,500 employees. A worker on a $48,000 salary could land a $96,000 windfall from the deal.

Upward of 75% of workers under 40, regardless of gender or political affiliation, want to work for a company that supports access to abortion, a new survey found. One-third of 3,000 surveyed employees are considering switching jobs to a company that publicly supports access to abortion or one that offers more reproductive healthcare benefits.

A largely unsecured cache of pictures of children being sexually exploited has been made available to third-party TikTok content moderators as a reference guide, former contractors say.

In Case You Missed It

The wealth management population is aging, with studies showing the average age of a financial advisor is 55 years old and one in five advisors are 65 or over. Forbes and Shook Research ranked the nation’s top next-generation advisors who are taking over this graying sector. Plus, here’s a state-by-state breakdown.

Tips You Can Trust

  • August is traditionally one of the slower months for hiring as final summer vacations trigger a stream of out-of-office replies and postponed interviews. It’s also one of the smartest times of the year to apply for a new job—here’s why.
  • The number of job openings in the U.S. fell to 10.7 million this week from 11 million in June, but the widespread labor shortage prevails. Here are best practices for how employers can attract and retain talent in the challenging job market.

Forbes provided this article. For more articles like this please visit www.forbes.com

About the Author

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>