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How much should I save for my retirement ?: Infographic

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You should not think of a percentage of your salary, but of a specific figure for your retirement.

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October 6, 2020 1 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Opinions expressed by Entrepreneur contributors are their own.

Having a decent pension is the great challenge for present and future generations. So you can calculate how much you should save monthly for your retirement.

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Intel Casts Off More Memory Chip Business in $9 Billion Deal

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ImageThe deal announced on Monday with SK Hynix, a South Korean company, involves NAND flash memory chips, which store data in a variety of devices.
Credit…Jung Yeon-Je/Agence France-Presse — Getty Images

Intel moved to further distance itself from its original business, reaching a deal to sell a remaining memory chip unit to SK Hynix of South Korea for $9 billion.

The transaction, announced on Monday, includes Intel’s most important factory in China. But it excludes a proprietary memory technology that the company has been promoting as an important tool for accelerating speeds in cloud data centers.

Intel for decades has been known for supplying the microprocessors that serve as calculating engines in most computers. But Intel was founded in 1968 mainly to make memory chips, which store data in all kinds of electronic devices.

Those components are largely interchangeable and come from multiple suppliers, which compete fiercely on price and subject the market to boom and bust periods. So Intel, starting in the 1980s, began retreating from segments of the memory business to focus efforts on more profitable microprocessor sales.

The deal with SK Hynix focuses on chips known as NAND flash memory, which store data in smartphones, computers and many other products. Intel’s flash memory business has been doing well lately, with revenue up 76 percent in the second quarter owing to factors like pandemic-related spending on personal computers.

Credit…Mike Blake/Reuters

But Intel, which has recently suffered from manufacturing problems, has at other times been hurt by drops in flash memory pricing. Robert Swan, Intel’s chief executive, previously signaled that it might seek a partner or acquirer for the unit.

“Memory is never a great business,” said Jim Handy, a market researcher with Objective Analysis. The deal with SK Hynix is “a very natural step” for Intel, he added.

Intel primarily makes flash memory chips at a factory in Dalian, China, though the company also conducts related development work in New Mexico.

The Wall Street Journal reported earlier Monday that the companies were close to a deal. A news release issued in the evening by SK Hynix said it would make an initial $7 billion payment to acquire both the Dalian factory and NAND flash business as well as a related business selling storage drives that use the chips.

Until a final closing of the deal, not expected until March 2025, Intel will continue to make chips at the Dalian factory, the companies said. After the close, SK Hynix will make a final $2 billion payment and receive other assets, including intellectual property needed to make the chips.

The deal does not include rights to a memory technology called 3D XPoint, developed in a joint venture with Micron Technology, which offers higher data transfer speeds than conventional NAND flash. That technology, which Intel markets under the brand name Optane, “is Intel’s crown jewel in the memory sphere,” said Roger Kay, an analyst at Endpoint Technologies Associates.

Intel has spent billions of dollars perfecting the technology, Mr. Handy said, but the latest quarterly results suggest it may no longer be selling the chips at a loss.

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CVS Health will hire 15,000 more workers ahead of flu season.

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CVS Health announced on Monday that it planned to hire 15,000 workers to prepare for expected increases in coronavirus and flu cases in the United States during the fall and winter months.

More than 10,000 of the new roles will be full-time and part-time licensed pharmacy technicians at CVS Pharmacy locations to help administer Covid-19 tests, process prescriptions and dispense medications.

“Additional team members typically are needed every flu season,” Lisa Bisaccia, chief human resources officer of CVS Health, said in a statement. “However, we’re estimating a much greater need for trained pharmacy technicians this year given the continued presence of Covid-19 in our communities.”

The additional hires may also help the company distribute a Covid-19 vaccine when it becomes available, if federal officials permit pharmacy technicians to administer it.

In March, CVS Health announced plans to fill 50,000 jobs across the country, the “most ambitious hiring drive in the company’s history,” it said at the time. The company has more than 4,000 drive-through coronavirus testing sites across the United States.

Separately, Target said on Monday that it would pay a fourth bonus to its employees who work in stores, distribution centers and staff and employee contact centers, as the pandemic continues and the retailer’s sales have soared this year.

More than 350,000 workers will receive $200 by early November, Target said.

Sapna Maheshwari contributed reporting.

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Airports screened more than one million travelers for the first time since mid-March.

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More than a million people passed through airport checkpoints on Sunday, the first time the Transportation Security Administration has screened that many people since mid-March.

While that represents a symbolic milestone for the travel industry, U.S. airlines are still losing billions of dollars a month as they brace for much weaker demand for tickets this winter. The number of people screened by the T.S.A. on Sunday was down about 60 percent compared with the same day a year ago.

Last week, Delta Air Lines and United Airlines both said that operating revenue in the three months through September had fallen nearly 80 percent compared with last year. That period spanned much of the summer, which is typically the busiest season for airlines. Corporate travel typically sustains them in the fall, but many large businesses have been cautious about returning to normal operations and have told their employees to work from home until next July.

The steep decline in travel has forced airlines to cut to the bone, tweaking every part of the business as they hope to capitalize on what little demand remains. American Airlines and Southwest Airlines are expected to release similarly dismal third-quarter financial results this week.

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