California Storm Losses Estimated at More Than $30 Billion
California’s flooding rains and heavy snows that killed at least 17 people have likely caused more than $30 billion in damages and economic losses, according to AccuWeather Inc.
Bloomberg Business
Biggest US Grid Had 23% Power-Plant Failure in December Storm
The largest US grid operator saw almost one-fourth of power plants serving 65 million people shut down during the Christmas weekend storm, pushing the region to the brink of blackouts.
Amazon Game Studios Executive Steps Down as Unit Struggles With Hits
Another veteran executive is leaving Amazon.com Inc.’s video game division, which has struggled to produce big hits since it launched a decade ago.
ECB’s De Cos Sees ‘Significant’ Rate Hikes at Coming Meetings
(Bloomberg) — The European Central Bank will deliver big increases in borrowing costs at its upcoming meetings, according to Governing Council member Pablo Hernandez De Cos.
Microsoft Says It Will Give US Workers Unlimited Time Off
Microsoft Corp. said it is shifting vacation policy to give US workers unlimited time off, matching a system already in place at its LinkedIn unit.
KKR Invests $1.15 Billion in Aircraft Leasing as Travel Rebounds
(Bloomberg) — KKR & Co. will invest $1.15 billion in leased commercial aircraft through its partnership with aviation finance firm Altavair.
China’s Qin Gang Defends African Lending on His First Trip
China’s Foreign Minister Qin Gang rejected accusations that the money his nation lends to Africa is a “debt trap” on his first official trip since he was appointed last month.
NFL Season Ratings Decline 2% as Amazon Showings Draw Fewer Viewers
The National Football League’s viewership declined 2% this season, weighed down by a smaller audience for Thursday night games that moved exclusively from broadcast TV to Amazon.com Inc.’s Prime Video.
Long Island Republicans Call for Santos to Resign From US House
Republicans in George Santos’s Long Island district said his campaign was built on “deceit, lies and fabrications” and demanded he resign from the US House.
UK, Japan Defense Pact Allows Two-Way Military Deployments
The UK and Japan will allow military forces to be deployed to one another’s territory, as Tokyo expands bilateral cooperation with other US allies amid concerns about China’s rise.
