Nearly $73 trillion is expected to pass to younger generations in the U.S over the next 20 years—and rich Baby Boomers are stressing about handing their fortunes down to their kids. The Great Wealth Transfer is rankling millionaires, whose children have their own ideas about how to spend the dough or give it away, according to new research from UBS.
“Forbes”New Study Finds Rich Boomers Are Stressed About Handing Down Fortunes To Their Kids,” John Hyatt, Forbes, October 19, 2022
Imports at the Port of Long Beach fell for a third consecutive as diminishing consumer demand, full warehouses and inflation concerns led to a decline in containers moving through the port.
“Port of Long Beach Imports Fall in September,” Mike Schuler, GCaptain,, October 18, 2022
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Combining would give Kroger and Albertsons—the largest and second-largest U.S. supermarket operators—greater scale and increased leverage in negotiations with vendors.
“Kroger to Buy Albertsons in $24.6 Billion Deal That Would Create New Grocery Giant,” JaeWon Kang, Wall Street Journal
Global economic activity is experiencing a broad-based and sharper-than-expected slowdown, with inflation higher than seen in several decades. The cost-of-living crisis, tightening financial conditions in most regions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic all weigh heavily on the outlook.
“Countering the cost-of -Living Crisis, International Monetary Fund, October, 2022
