Chattanooga gas prices up from a year ago
The average price of gasoline in Chattanooga edged up 0.9 cents per gallon in the past week to $2.25 a gallon, or nearly 15 cents a gallon higher than a month ago and 20 cents a gallon higher than a year ago, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga.
Despite the increase, Chattanooga fuel prices still averaged 28 cents a gallon less than the U.S. average.
“After several weeks of rising gasoline prices, it appears that perhaps the tide has turned and the bigger increases have started to fade,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices remain near multi-year highs but do show some signs of buckling at least slightly, but for motorists, we have not and may not see sizable relief just yet.”
Tariffs proposed on solar panels
President Donald Trump is approving tariffs on imported solar-energy components and large washing machines in a bid to help U.S. manufacturers.
The administration cast Monday’s decisions as part of Trump’s pledge to put American companies and jobs first. The administration is imposing an immediate tariff of 30 percent on most imported solar modules, with the rate declining before phasing out after four years.
AIG to acquire Validus Holdings
Insurer AIG is buying Validus, a provider of reinsurance, primary insurance, and asset management services, in a deal worth approximately $5.56 billion.
American International Group Inc. said Monday it will pay $68 for each share of Validus Holdings Ltd. That’s a 45.5 percent premium to the Bermuda company’s Friday closing price of $46.72.
AIG President and CEO Brian Duperreault said the acquisition will bring new businesses and capabilities to the New York company’s general insurance operation.
The deal is targeted to close by the middle of the year.
Murdoch says Facebook should pay for news
Media mogul Rupert Murdoch, whose companies own the Wall Street Journal, Fox News, the New York Post and other media properties, said Facebook should pay fees to “trusted” news producers for their content.
Facebook said last week it will boost news sources its users rank as most trustworthy, while shrinking the percentage of news posts overall in users’ news feeds. The news industry has struggled as print advertising erodes and Facebook and Google dominate online advertising.