California regulators have abruptly shut down Silicon Valley Bank, a 40-year-old financial institution that catered to the tech industry, due to mounting concerns that customers were on the verge of pulling their money. The closure has caused a stir in the markets, raising questions about its potential impact on the broader banking system and economy. The Federal Deposit Insurance Corporation (FDIC) has taken control of the bank and is working to protect customers and sell the bank's assets.
Posts tagged as “California”
California is bracing for flooding as a new storm system brings heavy rain and the melting of the huge snowpack built up in the mountains. The National Weather Service has issued a flash flood watch for the entire Bay Area, and the California Office of Emergency Services is urging residents to be prepared for potential flooding.
California Governor Gavin Newsom has announced that the state will not be renewing its multi-million dollar contract with Walgreens due to the pharmacy chain's decision to not distribute abortion medication by mail in 21 U.S. states. The current contract has resulted in the state paying out approximately $54 million, and Newsom has taken a strong stance against any attempts to limit access to abortion services. The state will instead explore other options for furnishing the same services to protect reproductive rights in California.
Millions of people in California and Nevada are under flood watches due to heavy precipitation and rapid snow melt below 5,000 feet. Downtown Fresno is forecast to get 3 inches of rain from Thursday evening to Saturday morning, and Terri Mejorado, the Fresno County Emergency Services Director, warned of the warm water on top of the snow causing it to melt. Residents are advised to take precautions and be aware of their surroundings as the storm is expected to last through the weekend.
Ben Savage, best known for his role as Corey Matthews in the '90s sitcom "Boy Meets World," has announced his plans to run for Congress in California's 30th District. He is running as a Democrat to replace Rep. Adam Schiff, and hopes to restore faith in government by offering innovative solutions to pressing issues. Savage is the latest celebrity to enter the political arena, and his campaign is sure to be an interesting one.
Prince Harry and Meghan, the Duke and Duchess of Sussex, have christened their daughter Princess Lilibet Diana in California, with the Archbishop of Los Angeles officiating. The title of princess was granted to Lilibet under the 1917 rules set out by King George V, and her parents invited the British royals to the event, though they did not attend. The christening marks a significant milestone for the Sussexes, as they continue to raise their daughter in the US.
California Governor Gavin Newsom has announced that the state will be cutting ties with Walgreens after the company announced it would not sell abortion pills in 20 states. This decision has been met with criticism from Democrats, who argue that it will limit access to abortion services for women in those states. Walgreens has not yet commented on the decision by California to cut ties with the company.
Key takeaways: Tribes in the Los Angeles area argued that samples taken from the mountain lion, P-22, should be returned to the mountain for burial.…