Baby boomers’ mandatory withdrawals from 401(k)s, IRAs and other tax-deferred retirement accounts start in full force this year. The obligatory outflows are expected to ripple through the U.S. economy, the stock market and a money-management industry.
Business and agricultural groups are lobbying Trump transition officials to rework and even rename a Pacific trade deal that would knit together the U.S. and Asian countries, despite Mr. Trump’s plan to scrap the agreement.
Exxon Mobil is the latest company to expand in Texas’ red-hot Permian basin, announcing a deal Tuesday to buy companies owned by the Bass family for $5.6 billion in stock and up to $1 billion in additional payments.
Success with a deal for IBM personal computers led China’s Lenovo to underestimate the difficulty of reviving smartphone company Motorola Mobility. “We underestimated the differences of the culture and the business model,” says the CEO.