Tag: sky business news

Why First Citizens got a $16.5 billion discount for taking over Silicon Valley Bank [Video]

Stocks of regional banks surged Monday after regulators announced a sale of Silicon Valley Bank’s deposits and loans, an agreement that demonstrates how much government assistance will be required to stoke new deals making during this banking crisis.

The buyer, First Citizens Bancshares (FCNCA), was up 47% at 11:15 am ET. The stock of another troubled regional lender, First Republic (FRC), was 15% higher as that San Francisco lender considers a number of options to stabilize its situation. PacWest Bancorp (PACW) and Western Alliance Bancorp (WAL), two other California lenders that came under investor pressure following Silicon Valley Bank’s failure,

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Do I Need an Emergency List?

We frequently have questions related to the practical and financial panic after a death in the family when accounts, passwords, and assets are unknown. Sometimes, a family knows an estate plan was done but they cannot find the plan and don’t even know the law firm that drafted the plan. An emergency list can help to avoid these issues.

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We often see people lose their spouse, and have no idea

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Facebook parent company Meta slashes 10,000 jobs

Facebook parent Meta is slashing another 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly about the global economy hits the technology sector particularly hard.

The company announced 11,000 job cuts in November, about 13 per cent of its workforce at the time. In addition to the layoffs, Meta said Tuesday that it would not fill 5,000 open positions.

The company, based in Menlo Park, Calif., said Tuesday it would reduce the size of its recruiting team and make further cuts in its tech groups in late

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Bloomberg Media Hires New Chief Revenue Officer

The business news publisher Bloomberg Media has hired digital media executive Christine Cook as its chief revenue officer, Adweek can exclusively report.

Cook fills a role left vacant since 2019, following the departure of Keith A. Grossman and before him Paul Caine. Cook begins the role March 20.

“Having spent most of my career supporting journalism with advertising and innovation, I am inspired by Bloomberg Media’s commitment to global business journalism, which is matched by its commitment to technology and innovation in reaching its customers,” Cook said in a statement.

In the position, Cook will oversee advertising revenues across all

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Can Your EHR Template Land You in Prison?

If your electronic health record (EHR) template is set up incorrectly and leads you to be billed improperly, it could lead to prison time.

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In recent years, we have heard from many of our clients that their compliance plans received less attention than normal due to the pandemic, staffing issues, and other pressing concerns.

However, compliance enforcement is ongoing and it is essential to prioritize your compliance plan.

A Delaware

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Marc Spector launches new architecture firm

Marc Spector, a former principal of Spectorgroup, has launched a new architecture firm called Spector Companies.

The new firm has three offices, including one at 220 Crossways Park Drive West in Woodbury, where Spectorgroup has been headquartered. Its two other offices are on 34th Street in Manhattan and at Wynwood Garage in Miami.

All staff that were at Spectorgroup’s Woodbury office have transitioned to Spector Companies at the same location.

Spector says the new firm will have a strong focus on sustainability and AI innovation, and offer services that span architecture, interior design, project management, master planning, and real estate

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Nordstrom closing down in Canada, shuttering all 13 stores

Nordstrom Inc. says it is winding down its Canadian operations and closing all 13 of its stores in the country.

The company filed for protection from its creditors this week under the Companies’ Creditors Arrangement Act, a Canadian law that manages the orderly wind-down of businesses. CCAA is convinced to what’s known as “Chapter 11 bankruptcy” in the United States, and it is intended to enforce rules to ensure as many funds as possible get collected, to pay back creditors as equitably as possible

Nordstrom launched in Canada in 2014. The chain has six Nordstrom stores and seven Nordstrom Rack

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Indigo creates temporary website for browsing after cyberattack – Business News

Indigo Books & Music Inc. has created a temporary website for its customers to browse for books and gifts after a cyberattack halted the company’s online operations last week.

In a notice posted to the new site Friday titled “shop in store, window-shop online,” the Toronto-based retailer said the temporary website only allows for browsing and it is still

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