8.8-Magnitude Pacific Earthquake Triggers Widespread Tsunami Warnings

An 8.8-magnitude earthquake struck the North Pacific Ocean near Russia, triggering multiple tsunami warnings for Hawaii, Alaska, Japan, and other Pacific coastal regions. Authorities warned of potentially destructive waves up to 10 feet high in Japan and issued evacuation orders in parts of Hawaii, with advisories extending as far as Chile. Meanwhile, AMD CEO Lisa Su announced that chips produced in TSMC's new Arizona facility will cost 5 to 20 percent more than those made in Taiwan, a premium the company considers worthwhile to diversify supply chains and prevent disruptions like those experienced during the pandemic. Additionally, the Biden administration's efforts to reduce bank fees might unintentionally hinder financial inclusion, as fee income remains vital for many banks, especially with upcoming legislative actions targeting SEC crypto custody guidance and proposals to limit overdraft fees. The financial sector is also seeing leadership changes, with Gunjan Kedia poised to become the next CEO of U.S. Bank, reflecting ongoing shifts amid regulatory and market challenges. Lastly, discussions around bankruptcy highlight how reorganizations allow companies to revise contracts to remain viable, even if it means altering prior customer agreements when original business models become unsustainable.