• From Bloomberg:
"Relief from skyrocketing egg prices is coming even as consumers in some parts of the country still see shortages as a lingering effect of an historic avian flu outbreak.
"Midwest large eggs, the commodity’s benchmark price, fell to $4.63 a dozen on Friday, according to commodity researcher Urner Barry. That’s down from a record high of $5.46 a dozen in December. 'The rally is definitely over — at least for the time being,' said Karyn Rispoli, an egg market reporter at Urner Barry. 'While some suppliers continue to note pretty strong retail demand, orders for many have started to slow.'
"Egg prices soared last year to record highs after the worst global bird flu outbreak on record ravaged flocks, and consumers are feeling the pinch, with some areas having trouble finding eggs at all."
• From Bloomberg:
"CVS Health Corp. is exploring an acquisition of Oak Street Health Inc., which runs primary care centers for Medicare recipients, according to people familiar with the matter.
"A deal could be reached within weeks that would value Oak Street at more than $10 billion, including debt, said the people, who asked to not be identified because the matter isn’t public. Talks between the companies are ongoing and could end without an agreement, the people said … Oak Street, which went public in 2020, aims to reinvent care for Medicare patients with low incomes and chronic health problems. The company says its high-touch approach — frequent checkups, preventive screenings and meetings with social workers — can reduce patients’ medical costs."
• From CNBC:
"The Securities and Exchange Commission charged former McDonald’s CEO Steve Easterbrook on Monday with misrepresenting his November 2019 firing.
"Easterbrook has agreed to a $400,000 fine, without admitting or denying the claims, and will be barred from serving as an officer or director for any SEC-reporting company for five years.
"McDonald’s board fired Easterbrook in 2019 for a consensual relationship with an employee, which violated the company’s fraternization policy. However, he wasn’t fired for cause, allowing him to receive a severance package.
"Months later, the fast-food giant sued its former chief executive, claiming he committed fraud and lied to cover up additional inappropriate relationships with employees. In December 2021, the two parties settled the lawsuit, and McDonald’s successfully clawed back Easterbrook’s severance, valued at $105 million."