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A major nor’easter crippled much of the East Coast on Monday, shutting airports, closing roads and dumping up to two feet of snow in some areas. Across the Northeast, more than 574,000 customers were without power as of Monday afternoon.
John F. Kennedy, LaGuardia, Boston Logan, Newark Liberty and Philadelphia International airports were largely shut down. In a service alert, Fedex said there was no Express or Ground service in thousands of Zip Codes. UPS said service delays were possible in seven states. The Port of New York & New Jersey shut terminal operations early Monday as the storm hit.
The storm was such a doozy that it qualified as a nor’easter, a bomb cyclone and a blizzard, meteorologists said.
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TSMC is building a vast chip-manufacturing facility in Arizona. CHRISTOPHER PAYNE FOR WSJ
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Apple will move some production of its Mac Mini desktop computer to the U.S. from Asia, its latest initiative to reshore parts of its vast supply chain, the WSJ’s Rolfe Winkler reports.
The new manufacturing effort will begin later this year at a Foxconn facility in north Houston, said Sabih Khan, Apple’s chief operating officer. He described the plan while taking the Journal on the first public tour of the facility’s two primary buildings, one where Foxconn assembles Apple’s AI servers, another, currently a cavernous warehouse, that will be converted to 220,000 square feet of manufacturing space for the Mini.
The Mac Mini plan is the latest domestic investment by the iPhone maker as part of a promise announced last August to invest $600 billion in the U.S. over four years. That commitment also includes the purchase of more than 100 million chips from a vast facility that Taiwan Semiconductor Manufacturing, or TSMC, is building in Arizona.
TSMC, the world’s largest chip maker, plans to spend $165 billion to build six chip plants and more, making it one of the largest construction projects in the U.S.
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-0.2%
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Decline in laden container exports from the U.S. in 2025, compared with a 0.1% increase in imports, according to Linerlytica
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Orders from U.S. factories fell 0.7% in December to $617.5 billion, from $621.9 billion in November, the Census Bureau said. (WSJ)
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German business confidence rose in February, with the Ifo Institute’s climate index increasing to 88.6 from 87.6 in January. (WSJ)
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First Brands Group, a bankrupt auto-parts supplier, laid off employees in its aftermarket businesses after failing to secure financing or a buyer for most operations. (WSJ)
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Uber Technologies plans to acquire SpotHero to integrate parking reservations into its ride-hailing platform. (WSJ)
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Chevron is entering exclusive talks with Iraq's Basra Oil for a stake in one of the world's largest onshore oilfields, West Qurna 2. (WSJ)
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Johnson Matthey cut the price of the catalysts-technologies unit it is selling to Honeywell International by more than a quarter and extended the deadline for the closure of the deal. (WSJ)
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Renault said it would acquire Volvo’s 45% stake and CMA-CGM’s 10% stake in electric-van joint-venture Flexis for an undisclosed sum. (WSJ)
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The Panamanian government ordered the occupation of two ports on the Panama Canal, a move triggered by a ruling that voided the concession held by Hong Kong’s CK Hutchison. (Associated Press)
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Walmart expects capital investments in its supply chain, including in automation, to probably peak this year and next. (SupplyChainDive)
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European Union member states agreed to extend the bloc’s naval presence to protect commercial shipping in the Red Sea through February of 2027. (gCaptain)
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The Dow Jones Risk Journal Summit in New York on March 4 will include two discussions on trade issues: One on evasion of export controls, sanctions and tariffs with Janet Labuda, head of trade and customs issues at Maersk Customs Services, Aiysha Hussain, partner at Mayer Brown, and Daniel Tannebaum, partner at Oliver Wyman.
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Another panel will look at how to incorporate national security into trade compliance, with speakers Kevin O’Connor, general counsel at Lockheed Martin and Joseph Moreno, general counsel at SAP NS2.
Request a complimentary invitation here using the code COMPLIMENTARY. Attendance is limited, and all requests are subject to approval.
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