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☆ Walmart is shuttering all its 51 health centers and ending virtual care services as Amazon leans into the space
▼ + stars: | 2024-04-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Walmart will shut down the health clinics it has at 51 stores across five states. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWalmart says it will shut down the 51 health clinics it has at retail stores across five states, as well as its virtual care operation as the business has become "unsustainable." AdvertisementStaffed by physicians and licensed care providers, the clinics offered services ranging from primary care to behavioral health, as well as labs and X-rays. Virtual care was also available through walmarthealth.com.

Persons: —, Walgreens Organizations: Walmart, Service, Dallas Morning News, CNBC, Dallas Morning, Amazon Locations: Georgia, Arkansas , Florida , Illinois, Texas

☆ A tax compliance startup raised millions. Then it abruptly shut down, and the founder cut off contact.
▼ + stars: | 2024-04-29 | by ( Ben Bergman | ) www.businessinsider.com time to read: +13 min

Even the human-resources firm retained to help employees with offboarding, Tandem, quit soon after the layoffs because it never got paid. Shannon Flynn Bevers, Tandem's president and founder, said that she tried to help employees but that Johnson stopped responding. "When startups go out of business, they will pay employees their final paycheck. Johnson told employees to take a weeklong furlough and blamed the issue on a technical snafu. She also told employees they could file a claim with their state labor department or hire an employment lawyer.

Persons: Slack, Shiloh Johnson, Johnson, they'd, Benjamin Matthews, Shannon Flynn Bevers, I've, Flynn Bevers, VCs, Josh Felser, Aerin Paulo, ComplYant's, I'd, ComplYant, podcaster David Sacks, Michael Tam, Tam, Matthews, Ryan Cady, Lusely Martinez, Martinez, Cady, paychecks, wasn't, Taliah McGuire, McGuire, what's, Shiloh Luckey, Penelope, We've Organizations: Business, offboarding, . Venture, BI, Craft Ventures, ComplYant, Mucker, Slauson, — Mucker, Fika Ventures, Employees Locations: Los Angeles, Shiloh, San Francisco, Colorado, New York, TikTok

☆ Opinion: What conservatives don’t get about the protests roiling college campuses
▼ + stars: | 2024-04-29 | by ( Opinion Jeremi Suri | ) edition.cnn.com time to read: +9 min

These attacks have over the years undermined university leadership and provoked students, staff and faculty. University leaders responded positively, helping to build more dynamic and well-endowed centers for this work than on any other peer campus in the country. Many students, staff and faculty, especially those from minority backgrounds, feel that they have suffered setback after setback at the hands of hostile politicians and deferential administrators. Public and private university leaders have become more distant from their own campuses as they focus on fund-raising and testifying before hostile federal and state legislatures. There are, of course, good reasons why university leaders should not give in to protesters on these and other points.

Persons: Jeremi Suri, Mack Brown, America’s, CNN —, George W, Bush, ”, “, —, ” Jeremi Suri Korey Howell, Rick Perry, Perry, William Powers, Powers, Greg Abbott, Abbott, Bill, – Organizations: Leadership, Global Affairs, University of Texas, History Department, LBJ School, Democracy, “, CNN, Yale, Republican Party, Republican, Bush’s, Austin, Republicans, University, Clements Center for National Security, Salem Center for Policy, Civitas Institute, School of Civic Leadership, Military, Public, Kent State, Jackson State Universities Locations: Austin, Texas, Houston, Rio Grande Valley, Dallas, United States, Vietnam

☆ Five Things to Know About Biden’s New Power Plant Rules
▼ + stars: | 2024-04-25 | by ( Coral Davenport | Lisa Friedman | ) www.nytimes.com time to read: +2 min

The most consequential of the new rules is aimed at nearly eliminating carbon dioxide emissions from the coal plants. Once implemented, the rules are widely expected to result in the shuttering of nearly all the nation’s remaining coal plants by 2040. Here’s what to know about President Biden’s new moves to clean up coal power. There is no widely used technology available to substantially reduce carbon dioxide emissions from power plant smokestacks. The cheapest way to comply may be to just shut down the nation’s roughly 200 remaining coal plants.

Persons: Biden, Biden’s Organizations: Environmental Protection Agency Locations: America, United States

☆ Amazon ends drone program in California, plans to start deliveries in Arizona later this year
▼ + stars: | 2024-04-22 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

An Amazon delivery drone is on display at Amazon's BOS27 Robotics Innovation Hub in Westborough, Massachusetts, on Nov. 10, 2022. Amazon is shuttering its drone delivery operations in Lockeford, California, one of the earliest U.S. test sites for the decade-long project. Amazon said in a blog post Monday that it intends to keep expanding drone deliveries to more U.S. cities in 2025, and plans to open up in part of the Phoenix area later this year. The company said it's working with the Federal Aviation Administration and local officials to get permission for drone deliveries in Tolleson, Arizona, west of Phoenix. Amazon has still continued to push ahead with expanding drone deliveries.

Persons: Jeff Bezos, we've, Amazon, it's Organizations: Amazon, Federal Aviation Administration, FAA, Station ,, Embention Locations: Westborough , Massachusetts, Lockeford , California, U.S, Tolleson , Arizona, Phoenix, Lockeford, Station, Station , Texas, Houston, Sacramento

DUBAI — One of the world's busiest airports temporarily halted operations as the United Arab Emirates experienced its heaviest rainfall on record. The airport said road blockages and flooding have prevented many passengers from reaching the airport for departing flights. Fly Dubai, a budget carrier owned by the government of Dubai, suspended all flights from the UAE hub until 10 a.m. local time on April 17, citing extreme weather. The UAE saw over 100 mm of rain, a 75 year record since the UAE began recording rainfall. It also advised people to take preventative measures to avoid property damage from heavy rain and hailstorms.

Organizations: United Arab Emirates, Dubai's, CNBC, Emirates, National, of Meteorology, Disaster Authority Locations: DUBAI, Dubai, UAE, Al Ain

☆ The American dollar store has fallen on hard times
▼ + stars: | 2024-04-14 | by ( Kevin Williams | ) www.cnbc.com time to read: +5 min

Dollar Tree Inc. expects to close about 600 Family Dollar stores in the first half of fiscal 2024 and shut down an additional 370 Family Dollar and 30 Dollar Tree locations as their leases expire. "Dollar General and Family Dollar are neighborhood consumable stores, while Dollar Tree is a modern version of the old-fashioned variety stores," Strong said. Dollar General and Family Dollar have an 80 percent consumable merchandise mix: food, cleaning supplies, and healthcare. While Dollar General caters to a primarily rural clientele, Family Dollar stores are generally in urban areas. There are larger-format Dollar General stores, food-focus stores branded as Dollar General Market, and a Popshelf, a new concept store focusing on items that rival Dollar Tree is better known for (think wrapping paper and party favors).

Persons: Ruth Colvin, Graves, Colvin, isn't, Ellen Forroux, Forroux, Mary, John Strong, Strong Organizations: Inc, Walmart, Social, Dollar, Aldi Locations: Hyattsville , Maryland, Columbus , Ohio, Medford , Oregon, Los Angeles

☆ Apple lays off over 600 California employees after shuttering car project
▼ + stars: | 2024-04-04 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Tim Cook, CEO of Apple, during an event at Apple Park campus in Cupertino, California, Sept. 12, 2023. Apple is laying off 614 workers in California, according to a new state filing, the company's first significant round of job cuts since the pandemic. The affected Apple employees worked at eight different facilities in Santa Clara, according to the WARN notice posted by California. The filing comes weeks after Apple canceled a long-running project to build an electric, self-driving car in a team called the Special Projects Group. Positions that were cut include machine shop managers, hardware engineers and product design engineers, according to the San Francisco Chronicle.

Persons: Tim Cook, Apple hasn't Organizations: Apple, San Francisco Chronicle Locations: Cupertino , California, California, Santa Clara, Cupertino

☆ A movie-theater veteran has launched a company that seeks to jolt the industry with AI and a new production studio
▼ + stars: | 2024-04-03 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +8 min

John Fithian, former head of NATO, formed The Fithian Group, which aims to improve movie production, distribution, and exhibition. The group is overseeing the building of a high-tech production studio in Europe and a data-infused direct distribution platform. Fithian worked for over twenty years fighting to keep movie theaters relevant in the constantly changing worlds of entertainment and technology. The Fithian Group founding partners (L-R) John Fithian, Jackie Brenneman, and Patrick Corcoran. The founders said the upcoming platform will be available free of charge for movie theaters.

Persons: John Fithian, —, Fithian, Jackie Brenneman, Patrick Corcoran, Brenneman, Corcoran, Iah Bearden, Dylan Skolnick, Skolnick, there's, we're Organizations: NATO, Service, National Association of Theatre Owners, Group, Pinewood Studio, AP, Cinema Arts, Business Insider Locations: Europe, Vrai, Long Island , New York

☆ Florida's Ron DeSantis is passing bills all over the place after his failed presidential campaign. They have a common theme.
▼ + stars: | 2024-03-30 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Ron DeSantis has opted to take a different route: He's maintained his public profile by signing bill after bill focused on security. In his video announcing the end of his campaign, DeSantis foreshadowed his future goals during the remainder of his tenure as Florida's leader, which, barring a debacle, should last until January 2027. "While this campaign has ended, the mission continues down here in Florida," DeSantis said. Related storiesIn the two months since he's returned to Florida full-time, DeSantis has been busy, signing several bills and orders, each marked with a common theme: safety and security. "Under Governor Ron DeSantis, Florida will act."

Persons: —, Ron DeSantis, He's, DeSantis, he's Organizations: Service, Republican Florida Gov, Business, National Guard, Republican, Florida Legislature, Disney Locations: Florida, Haiti

☆ I shopped at Family Dollar and saw why the chain is struggling and shuttering stores
▼ + stars: | 2024-03-20 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

About 1,000 Family Dollar stores will close in the coming years, parent company Dollar Tree said this month. I went to a Family Dollar store and found lots of theft deterrents plus higher prices than nearby grocery stores. The chain will close about 1,000 stores in the coming years, parent company Dollar Tree said last week. That's about 13% of all Family Dollar stores in the US. Dollar Tree executives pointed to several reasons for closing the stores on last week's earnings call.

Persons: —, Tree Organizations: Service, Dollar, Business

☆ Banning TikTok could haunt Biden's reelection campaign
▼ + stars: | 2024-03-14 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. While Biden seems set to do just that — he said earlier in March that he'd sign the legislation — the move could easily backfire on his already-struggling 2024 reelection campaign. Lindsay DodgsonMembers of Congress reportedly said before the vote that TikTok's push backfired, making them more likely to vote in favor of it. Related storiesWhile Biden's been on board with the proposed TikTok bill for weeks, it's increasingly seeming like a political miscalculation with the November presidential election approaching. The closer the anti-TikTok bill gets to passing, the more easily he'll be able to convince young voters that Biden's behind the app shuttering, not him.

Persons: —, Joe Biden, Biden, Lindsay Dodgson, Biden's, it's, Donald Trump, Trump, Jeff Yass, gunning, Taylor Organizations: Service, Business, Republican, Biden, New York Times, Trump, White Locations: Yass

☆ At 23, she landed a job at a 3-star Michelin restaurant. Less than 2 years later, she left to run a food stall in Singapore.
▼ + stars: | 2024-03-14 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +9 min

Shanice Lim left a Michelin-starred restaurant to run a hawker stall in Singapore. She decided to follow in her grandmother's footsteps and run her own hawker stall. nasi lemak stall in singapore Marielle Descalsota/Business InsiderLim said her efforts have paid off and that she now has a base of customers who don't hesitate to pay SG$5 for her nasi lemak. I wanted to put my brand out there so everyone could have good nasi lemak," Lim said. There isn't much money to be made running a hawker stall.

Persons: Shanice Lim, Lim's, —, Shanice, Lim, Lim's nasi lemak, Marielle, nasi lemak —, Khir Johari, hawker, KF, it's, It's, nasi lemak, Seetoh, nasi, she's, Elizabeth Chan, lemak, Chan, har, wasn't Organizations: Michelin, Service, Culinary Institute of America's, hawker, Business, SG, National Environmental Agency, NEA, Singapore Food Agency, singapore Marielle Locations: Singapore, Culinary Institute of America's Singapore, Singapore —, European, Zen, Malay, lemak, Bedok, hawker, Urban, New York City, nasi lemak, singapore

The stop by Ms. Harris at the Planned Parenthood clinic was believed to be the first official visit by a vice president to an abortion clinic. We have to be a nation that trusts women.”Image Ms. Harris visited a Planned Parenthood clinic in St. Paul, Minn., on Thursday. Nebraska, North Dakota and South Dakota were almost bare — all have restricted abortion access since the overturning of Roe. But the fall of Roe upended those politics, energizing a new generation of voters energized by their support for abortion rights. “Please do understand that when we talk about a clinic such as this, it is absolutely about health care and reproductive health care.

Persons: Kamala Harris, Minn, Harris, ”, “, Jenn Ackerman, Roe, Wade, energizing, Biden, Lake, Biden’s, Donald J, Trump, Ms, Undem, Mr, Paul, Sarah Traxler, Tim Walz Organizations: Minn, ., The New York Times, Democrats, Democratic, Paul Health Center, Administration, Gov, The, of Family, State Legislature, Biden Locations: St, Paul, Minnesota, . Minnesota, Iowa . Nebraska , North Dakota, South Dakota, Gaza, KFF, Democratic, Vandalia, “ Minnesota, States

☆ Dollar Tree will sell items for $7, straying further from its single-price model
▼ + stars: | 2024-03-14 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

AdvertisementThe Dollar Tree is straying even further from its thrifty roots. In June, Dollar Tree said it planned to raise prices for certain food items as high as $5. It's further proof that dollar stores aren't really dollar stores anymore — even as competitors like Dollar General have sold items at a variety of prices for years. AdvertisementSeparately, Dollar Tree also announced this week it was shuttering 1,000 Family Dollar stores — representing 12% of its total store count — after acquiring the chain in 2015. Dollar Tree also said on the earnings call that it continues to contend with rising theft issues at Family Dollar — one of many factors behind the planned closures.

Persons: Rick Dreiling, —, it'll, Dreiling Organizations: Service

☆ R.N.C. Shutting Down Community Centers Aimed at Minority Outreach
▼ + stars: | 2024-03-13 | by ( Maya King | Michael C. Bender | ) www.nytimes.com time to read: +1 min

The community centers, which were based in several states including California, New York, North Carolina and Texas, were part of a yearslong effort to encourage Black, Latino, Asian and Native American voters to join the party. Republicans closed several minority outreach centers in battleground states more than a year ago and did not retain their minority media outreach directors. The most recent cuts, which will affect roughly 10 community centers, were first reported by The Daily Beast, and they are part of a wave of layoffs at the R.N.C. Republicans have widely promoted the community centers, which were established largely within the racial and ethnic communities they aimed to court. The centers often hosted political rallies, dances and potlucks, and some even helped community members prepare for the U.S. citizenship test.

Persons: Donald J, Trump Organizations: Republican National Committee, Republicans, Daily, Staff Locations: California , New York, North Carolina, Texas

☆ The once-forgotten flying wing has taken over the US's bomber fleet
▼ + stars: | 2024-03-09 | by ( Ben Brimelow | ) www.businessinsider.com time to read: +11 min

Originally designed before America's entry into the Second World War, the YB-49 flying wing was intended to be America's first intercontinental bomber. US Air ForceThe flying wingThe YB-49 was the final iteration of a flying wing bomber concept created by legendary aircraft designer Jack Northrop, founder of the Northrop Corporation. A larger test aircraft, the N-1M, was tested in July of 1940, proving the potential of the flying wing design. The problems with aerial instability could now be solved by computers utilizing fly-by-wire technology and differential thrust, and so a flying wing design was submitted. In order to maintain a powerful bomber force and to keep up with technological innovation, the Air Force launched the Long Range Strike Bomber program in 2011.

Persons: —, Northrop Grumman, Jack Northrop, Northrop, Dunne, elevons —, William Lewis, Defense Lloyd Austin Organizations: Service, US Air, US Air Force, Northrop Corporation, United States Army Air Forces, US Army Air Forces, Britain, USAAF, Air Force, Flag, Nellis, Nellis Air Force Base, Raider, Technology Bomber, Northrop, ATB, Defense Locations: Nazi, Europe, British, Jan, Yugoslavia, Iraq, Afghanistan, Libya

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Microsoft, Oracle, Arm, Rivian, Lyft & more
▼ + stars: | 2024-03-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Goldman Sachs reiterates Tesla and Rivian as neutral Goldman said further price cuts are needed for Tesla and Rivian. Morgan Stanley downgrades Sunnova to equal weight from overweight Morgan Stanley said in its downgrade of the solar company that it sees stock "dislocation." JPMorgan upgrades Sea Limited to overweight from neutral JPMorgan said the Singapore-based internet tech conglomerate is on an "upswing." JPMorgan initiates Amphastar as overweight JPMorgan said it's bullish on shares of the pharmaceutical company. JPMorgan initiates Metagenomi as overweight JPMorgan said it's bullish on shares of the biotech company.

Persons: Goldman Sachs, Tesla, Goldman, TD Cowen, Arm's, Ian Thornton, Morgan Stanley downgrades Sunnova, Morgan Stanley, Baird, DA Davidson, it's, Jefferies, BJ's, it's bullish, Oppenheimer, Wolfe, Rosenblatt, Moffett, Philip Morris, Guggenheim Organizations: Tesla, Nvidia, NVIDIA, Microsoft, JPMorgan, Jefferies, UBS, disinflation, Barclays, Oracle, Citi, Novo Nordisk, CMD, Costco, Adobe, Williams, Apple, Cable, . Cable, Argus, Guggenheim, Lyft Locations: Singapore, China, Sonoma

☆ 3 quiet luxury dupes that can transform your home for less, according to an interior designer
▼ + stars: | 2024-03-02 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +5 min

Less is more when it comes to quiet luxury, which has influenced everything from knitwear to skincare. This dupe of a Neiman Marcus throw pillow will save shoppers $120Neiman Marcus' Brera Lino Pillow. The company also sells Santal 26, a warm and musky fragrance sold as a home diffuser oil. Home Depot's frameless LED mirror. AdvertisementBed Bath & Beyond's frameless LED mirror.

Persons: —, Devin Shaffer, Shaffer, Neiman Marcus, Brera Lino Pillow, Modern's, Edgar, Le Labo, Le Labo Shaffer, Le Labo's, Cade, Dupes Organizations: Service, Business, Brera, Le, Depot Locations: eau, New, Fairmont

☆ Facebook is getting rid of the News tab in the U.S. and Australia
▼ + stars: | 2024-03-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Meta said Thursday that it would remove a dedicated section for news articles in April that will affect Facebook users in the United States and Australia. "The number of people using Facebook News in Australia and the U.S. has dropped by over 80% last year." Meta's decision to remove the Facebook News tab comes after the company said in September that it would eliminate the news section for Facebook users in the U.K., France and Germany. However, Meta said that it "will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers in the future." A year ago, Facebook represented about 50% the media outlets' social traffic.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, it's, Chartbeat, Similarweb, Mother Jones, Monika Bauerlein, Bauerlein, Sam Altman Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, Facebook, U.S, CNBC, Canadian, Nvidia Locations: South Korea, Seoul, United States, Australia, France, Germany

☆ How Google lost its way
▼ + stars: | 2024-02-29 | by ( Hugh Langley | Lara O'Reilly | ) www.businessinsider.com time to read: +17 min

Just two months after Google launched Gemini, its flashy new AI model, the company revealed that it had already built a better version. AdvertisementThen, days later, Google scrambled to explain why its image generation tool spit out racially inaccurate depictions of historical figures. Users have long bemoaned — and researchers recently found — a decline in the quality of Google Search results. The fact that Google is not far and away the self-driving-car leader, it's, like, a total joke," the former Google director said, adding that the problem of Google's lost supremacy is "maybe impossible to solve, frankly." Google now is reminiscent of the Steve Ballmer-era Microsoft, which missed the smartphone, search, and cloud waves and was overtaken by Apple, Google, and Amazon.

Persons: OpenAI, Sora, Sam Altman, Sundar Pichai's, Pichai, —, Larry Page, Sergey Brin, Lea Suzuki, Getty Brin, Page, Google, Googlers, Axel Springer, Diane von Furstenberg, Giovanni Giannoni, Michael Avrukin, Vuk Valcic, wouldn't, Patrick Mork, Eric Lehman, Lehman, ChatGPT, Caesar Sengupta, Sengupta, Alexa, Google's, Steve Ballmer, Satya Nadella, Hugh Langley, Lara O'Reilly Organizations: Google, Hollywood, Industry, San Francisco Chronicle, Business, Penske Media, Microsoft, Amazon, The New York Times, Oracle, YouTube, Apple, IBM, Meta Locations: Silicon Valley, Silicon, —

☆ The economy's gone from strength to strength after the pandemic — but no one quite knows why, or what comes next
▼ + stars: | 2024-02-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

America has gone from a pandemic crash and recession fears to stocks at record highs and an economic boom. Lockdowns, wars, shortages, inflation, interest rates, day trading, and AI have all played a role. Noam Galai/SOPA/Getty ImagesMany Americans also socked away money during the pandemic, as they saved on expenses like travel and live entertainment. Stimulus-fueled demand, combined with pandemic and war-related supply disruptions, caused inflation to spike to a 40-year high of 9.1% in June that year. The Fed swiftly raised interest rates to rein in the price growth, lifting them from virtually zero to upward of 5% in under 18 months, and hasn't touched them since.

Persons: —, We've, Noam Galai, hasn't, It's, dory Organizations: Service, Federal Reserve, GameStop, AMC Entertainment, AMC, Bank Locations: America, China, Ukraine

☆ Why oil prices aren’t soaring despite Middle East uncertainty
▼ + stars: | 2024-02-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Oil prices spiked last month following US-led strikes on Houthi targets in Yemen in response to repeated attacks on commercial ships in the Red Sea. One factor that could be keeping the cap on oil prices is waning demand. “Global oil demand growth is losing momentum,” said the agency in its February report. While global oil demand growth is slowing, supply has stayed relatively strong, potentially putting further downward pressure on oil prices. “Higher global oil supply this year, led by the United States, Brazil, Guyana and Canada, should more than eclipse the expected rise in world oil demand,” said the report.

Persons: Bell, ”, Donald Trump, Matt Egan, —, Trump, Jay Ritter, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit Organizations: CNN Business, Bell, New, New York CNN, West Texas, Brent, International Energy Agency, “, shuttering, Federal, US, United Arab Emirates, White, Wall, Trump, Truth Social, Trump Media & Technology Group, Securities and Exchange, Trump Media, SEC, University of Florida, Mortgage Bankers Association Locations: New York, Russia, Ukraine, Yemen, Red, United Kingdom, Japan, Germany, Iraq, United States, Brazil, Guyana, Canada

☆ Ole Andreas Halvorsen's Viking Global bought this regional bank in the fourth quarter
▼ + stars: | 2024-02-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Despite broad concerns surrounding the health of regional banks, Ole Andreas Halvorsen's Viking Global bought into one key name in the sector in the fourth quarter. The move came near the end of a turbulent year for regional banks after the shuttering of Silicon Valley Bank , First Republic Bank and Signature Bank led investors to question the regionals' business model. Shares of U.S. Bancorp climbed more than 30% in the fourth quarter, but the stovck still ended the year down about 1%. The sector took a hit this year following New York Bancorp 's dismal fourth quarter earnings , which showed a loss, a large reserve against weaker future credits and slashed the dividend. Halvorsen went even further and zeroed out stakes in Microsoft and Arm Holdings , the British chip and software designer that went public last September.

Persons: Ole Andreas Halvorsen's, Halvorsen, Julian Robertson, InsiderScore, Lamb Weston Organizations: Ole Andreas Halvorsen's Viking Global, Viking Global, . Bancorp, Silicon Valley Bank, First Republic Bank, Signature Bank, U.S . Bancorp, Regional Banking, New York Bancorp, Viking, Tiger Management, Devices, Microsoft, Arm Holdings, Mastercard, Electric, Colgate, Palmolive Locations: Ole Andreas Halvorsen's Viking, Minneapolis, Silicon, U.S, Deere

More than 1,000 flights were canceled so far Tuesday morning, mostly at the airports in the New York City area and in Boston. It was the first major snowstorm in New York City since February 2022. The city, which has the nation's largest school system, switched to remote learning and closed its buildings Tuesday because of the storm. Some of the highest snowfall totals were forecast for the northern suburbs of New York City and southwestern Connecticut, according to the National Weather Service. Dan McKee signed an executive order shuttering state government offices Tuesday and banning tractor-trailer travel on all interstates and state roads beginning at midnight.

Persons: It's, ”, Ricky Smith, Eric Adams, “, Ned Lamont, ” Lamont, Maura Healey, Michelle Wu, Dan McKee, McKee, Steve Sullivan, Steve LeBlanc, Kathy McCormack, Jeff Martin, Mike Balsamo, Bruce Shipkowski, Ron Todt Organizations: New, Gov, Pennsylvania Department of Transportation, Police Department, National Weather Service, Massachusetts Gov, Boston, Rhode, Rhode Island Gov, Airports, Associated Press Locations: HARTFORD, Conn, New York City, Boston, “, Connecticut, Doylestown, Massachusetts, New England, Rhode Island, Massachusetts , Connecticut, New York, Alabama, Georgia, Concord , New Hampshire, Atlanta, Stony Brook , New York, Toms River , New Jersey, Philadelphia

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