Monday, March 27, 2023

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First Citizens’ shares soar 52% on report of SVB acquisition

(WRAL TechWire)
Raleigh-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month. Wall Street liked the deal, sending First Citizens shares up nearly 50% in trading Monday. Shares were selling at $858.25, up $275 from the open.

Triad health-care systems lifting mask requirements

(WFMY News)
Cone Health, Novant Health, and Atrium Health Wake Forest Baptist are making masks optional again for most patients, visitors, and staff. The decision comes based on the latest Centers for Disease Control and Prevention guidance. The health care systems said patients may still ask for their providers to wear masks.

Nearly a quarter of state’s government jobs are vacant

(WUNC Radio)
North Carolina’s state government agencies are facing a major worker shortage. The agencies are looking to the legislature this year to increase salaries so they can better recruit and retain employees.

Albemarle takeover of firm nixed

Liontown has rejected a takeover offer from lithium giant Albemarle valuing the mine developer at $2.50 per share — a big premium to yesterday’s closing price of $1.54/share. Ablemarle, which has built a ~2.2% stake on-market, previously offered $2.35 per share on 3 March 2023, and $2.20 per share on 20 October 2022.

Pratt & Whitney investing $255M to expand Oklahoma City operations

(Winston-Salem Journal)
Pratt & Whitney, a division of Raytheon Technologies Corp., plans to spend $255 million over five years for an 845,000-square-foot production facility in Oklahoma City. The facility will serve as a hub for depot operations for all Pratt & Whitney military engines.

WFU names Jacqueline Travisano as new CFO

(Triad Business Journal)
Wake Forest University has hired Jacqueline Travisano as executive vice president and chief financial officer. She currently serves as executive vice president for business and finance and chief operating officer at the University of Miami, and will begin her new role in July.

Canton government considers austerity measures

(Smoky Mountain News)
Administrators from the Town of Canton began to prepare for the financial impact of the closing of Pactiv Evergreen’s paper mill, estimated at roughly $3 million. The immediate concern for the town is a decrease in water revenue and in sales tax revenue as a result of the loss of roughly 1,000 local jobs.

Navassa Superfund site cleanup to begin this summer

(Coastal Review Online)
Nearly 3,000 cubic yards of creosote-contaminated soil will be dug up from the former Kerr-McGee Superfund Site in Navassa beginning this summer. Once excavated, contaminated soil found in select spots within what the U.S. Environmental Protection Agency refers to as operable unit 2, or OU2, will be moved to another on-site area in and temporarily stored.