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In the biggest IPO of the year, British chip designer arm is set to price at shares at $52

a piece and higher energy prices pushed up US inflation in August. Plus could China weaponize

its store of precious metals as the oil producing countries have in the past.

To a certain extent, the minerals that we're going to be depending on for the new energy transition

are even more concentrated and in more problematic places than oil and gas.

It's Wednesday, September 13th. I'm Ann Marie for Tolly for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

We exclusively report that chip designer arm is preparing to price at shares at $52 a piece,

as it lays the groundwork for the biggest US public offering of the year. The price will be set in a meeting

today between underwriters and company executives, according to people familiar with the matter.

But the situation remains fluid and the price could still shift. At a per share price of $52

arm would be valued at $55.5 billion on a fully diluted basis.

That's below the $64 billion that arm's owner, SoftBank Group, recently valued the company at

when it bought out a stake held by its own vision fund. Arm shares are set to start trading tomorrow on the NASDAQ.

US inflation accelerated last month due to a jump in gas prices at the end of the summer.

The Labor Department said the consumer price index, a measure of goods and service prices across the economy,

rose 0.6% in August from the prior month. Here now with more is our chief economics correspondent Nick Timoros.

Nick, this uptick was largely caused by a rise in energy prices. What about other price pressures on the economy?

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