UPMC CFO Rob DeMichiei will retire in December

UPMC executive vice president and CFO Rob DeMichiei is retiring at the end of the year after 15 years in the role, the Pittsburgh health system said. Ed Karlovich, chief financial officer for the system’s health services division, will serve as interim CFO during a search for a replacement. Mr. DeMichiei’s tenure included implementation of Section 404 of the Sarbane Oxley Act, which enhances transparency in financial reporting, to the system’s expansion across the state and internationally.

DTE to buy Louisiana shale gas network for $2.25 billion

DTE Energy agreed to buy a natural gas gathering system and pipeline in Louisiana for $2.25 billion to boost capacity to supply the Gulf Coast. Detroit-based DTE said it’s buying the assets from closely held Momentum Midstream and Indigo Natural Resources in cash. The acquisition, which is expected to close this quarter, includes an additional $400 million payment upon the completion of a pipeline in 2020.

Walmart will take $2.2 billion charge for pension shift

Walmart plans to offload the cost of a retirement plan for employees of its British subsidiary Asda, incurring a pretax charge to earnings of about $2.2 billion. Rothesay Life will take over managing pension liabilities for about 12,000 members. Offloading the pension costs at Asda could be preparation for a sale or an initial public offering. The charge will be incurred at the completion of the buyout in late 2020 or early 2021.

Pork exports hit record on demand from China, Mexico

Export sales of American pork soared to an all-time high last week as buyers anticipate a widening gap created by the spread of a pig-killing disease in Asia. Export sales jumped to 351,000 metric tons as Mexico and China each snapped up the biggest weekly hauls in U.S. Department of Agriculture data going back to 2013. China’s weekly purchases of 152,600 tons tops the previous record of 142,200 tons from a week ago. Mexico bought 132,400 tons for the week, almost double the previous record set in mid-2014. Japan’s purchases also surged.