Business

Link to cnn.com First Horizon stock tumbles 50% after TD Bank merger collapses (opens in new window)

First Horizon and TD Bank have called off a $13 billion deal that would have formed America’s sixth-largest bank, adding to the turmoil sweeping the country’s regional lenders.

Caught up in the worst banking crisis since 2008, First Horizon (FHN)’s share price has plunged about 40% over the past couple months, falling well below the $25 per share that TD offered when the takeover was announced in February 2022.

Source: CNN

Link to theadvertiser.com Unemployment rate rising in Louisiana’s big cities (opens in new window)

Unemployment in the Lafayette metro area ticked up .4 points in 2022. The region also saw the sharpest decline in labor force in the state, shedding 1,700 workers.

All of Louisiana’s nine metro areas’ unemployment rates increased from November to December 2022 as well, with the state seeing its rate increase for the first time since the beginning of the COVID-19 pandemic.

Source: The Advertiser