Dollar Tree to Close Almost 1,000 Stores After Impairments
Dollar Tree reports a surprise fourth quarter loss and plans to close about 600 Family Dollar stores this year and 370 more in coming years, plus 30 Dollar Tree stores. The company incurs a $950 million impairment and a $1.07 billion goodwill charge, reshaping profits and 2024 guidance.
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House approves bill to ban TikTok nationwide if ByteDance sale not pursued
The House passed a 352 to 65 measure mandating a nationwide TikTok ban unless its China based owner ByteDance sells its stake. The bill urges the Senate to act with Biden signaling support and warns of data access demands under Chinese security laws.
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Wall Street lingers near record highs
U.S. stocks finish mixed as the S&P 500 dips from its record, the Dow edges higher, and the Nasdaq retreats. Oil prices jump with Brent and U.S. crude climbing, while inflation pressures damp expectations of near-term rate cuts from the Fed.
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EU approves wide rules for AI governance
The European Union passed the AI Act setting broad guardrails for artificial intelligence, aiming to curb bias and privacy risks. It bans emotion detection in workplaces and schools, limits high stakes uses, and imposes initial restrictions on generative AI while governments debate impacts on startups and Big Tech influence.
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