• Xpeng CEO He Xiaopeng said that competition within the auto sector will be even more heated in 2025.
• He said in an internal letter that the industry will face an "elimination round" from 2025 to 2027.
• The Xpeng founder-CEO said in November that most Chinese carmakers wouldn't survive the next decade.

Competition within the auto industry will become even more cutthroat in the years ahead, Xpeng CEO He Xiaopeng said in a letter to his company's staff last month.

"The period from 2025 to 2027 marks the elimination round in the automotive industry," He wrote in an internal letter obtained by The Wall Street Journal.

"Competition in 2025 will be fiercer than ever," He added.

In 2024, Xpeng delivered 190,068 vehicles, a 34% increase from the 141,601 vehicles delivered in 2023, per a company filing. The company's vice-chairman and president, Brian Gu, said in March that Xpeng is on track to "achieve profitability at some point in 2025."

Tesla, the world's largest EV maker, delivered 1.79 million vehicles in 2024, a 1% decrease from the 1.81 million vehicles delivered in 2023.

Xpeng did not respond to a request for comment from Business Insider.

He made similar statements on the auto industry's outlook last year. In November, the Xpeng founder-CEO said in an interview with Singaporean newspaper The Straits Times that most Chinese carmakers won't survive past the next decade.

"From 300 start-ups, only 100 of them survived. Today, there are fewer than 50 companies that still exist, and only 40 of them are actually selling cars every year," He told the outlet.

"I personally think that there will only be seven major car companies that will exist in the coming 10 years," he added, without specifying who he thought the surviving companies would be.

In March, He told Singaporean broadcaster CNA that the Chinese EV industry will see a "knockout tournament" in the next three to four years, followed by an "all-star competition" in the next seven to eight years.

To be sure, He isn't the only auto executive who expects intense competition in the industry.

In October, Mercedes-Benz CEO Ola Källenius told attendees at the Berlin Global Dialogue conference that Western automakers are fighting an existential battle against their Chinese counterparts.

"It's strange. It's a Darwinistic-like price war, market purification. And many of those players that are around now. Many of those are not going to be around five years from now," Källenius said.

• Blackstone encourages junior staff to speak at deal meetings, fostering open dialogue.
• It can be "scary," said Jon Gray, the firm's president, on a recent podcast.
• A former intern told BI last year that a senior leader said to him "rank doesn't matter here."

Blackstone's president said that senior executives often ask the most junior people in the room to speak at the private equity firm's deal meetings.

"We'll go around in many of these committees and ask the most junior people in the room, 'hey what do you think?' We want them to articulate why they have conviction," Jon Gray said on a recent podcast hosted by Norges Bank Investment Management. Norway's sovereign wealth fund has invested hundreds of millions of dollars with Blackstone.

The 54-year-old, who started his career at the firm, said that it can be "scary" for a young person, and that the committee is "not the most patient group of people."

Gray added that meetings get into questions immediately, with people "drilling" the presenters about the companies in question.

"What we try to do is make sure a lot of please and thank you's and be appreciative to the group, but there's really sort of a truth-telling exercise," Gray said.

Blackstone is the world's largest alternative asset manager, with more than $1 trillion in assets under management. The firm has 12,700 real estate assets and 240 portfolio companies as of June, according to the company's website.

Last year, an associate who interned twice at the firm told Business Insider that juniors were encouraged to make their presence known.

"Senior leaders were constantly coming out to the bullpen and asking the most junior person on the team what they thought about the deals that we were currently in process with, what they thought about up-and-coming trends," said Marshall Plumlee, who was a US Army infantry officer before his Harvard MBA. He's now working at Blackstone full time.

Plumlee said that one senior leader explained it to him this way: "Rank doesn't matter here; your thoughts are just as valuable as the next guy."

Blackstone had 4,735 employees as of December 2023.

Talent development initiatives

The private equity firm has made other commitments to developing talent, too.

In 2020, it launched Career Pathways, a program to help portfolio companies solve talent problems by creating internal trainings. Last year, it started a data program to find and train people to fill specialized technical positions. In September, the company said the portfolio companies that took part in the program have hired over 10,500 people from underrepresented groups.

"We put it inside of our portfolio operations side of the business," Gray said at the time. "It's not a charitable effort. It's designed to drive talent to companies."'

The executive is also known for being in charge of the iconic Blackstone holiday videos, which started in 2018 when the firm had grown too large to host company-wide Christmas parties. Business Insider previously reported that Gray is usually the first person to come up with the idea for the holiday video — a comical sketch sometimes filmed in the style of the television show "The Office" or with other pop-culture bents.

A federal appeals court paved the way Thursday for special counsel Jack Smith to release a final report on President-elect Trump's two dismissed federal criminal cases.

The big picture: Trump and two of his former co-defendants have fought the release of the report on his alleged attempts to overturn the 2020 election and handling of classified documents. The ruling leaves open the possibility of a further appeal.

---

• Representatives for Trump did not immediately respond to Axios' request for comment in the evening.

Zoom in: The ruling from the U.S. Court of Appeals for the 11th Circuit in Atlanta comes in response to a request from Trump aid Walt Nauta and former Mar-a-Lago property manager Carlos de Oliveira, who were both charged in the dismissed classified documents case.

• The timing of the report's release remains unclear.
• A lower court ruling from U.S. District Judge Aileen Cannon, a Trump appointee, which temporarily blocked the report's release is in place for three days.
• A separate part of the report, which details Smith's investigation into Trump's alleged mishandling of classified documents, appears likely to remain sealed for now, per the Washington Post.

What they're saying: Trump spokesperson Steven Cheung said in a statement that criticized Smith the decision from the 11th Circuit "keeps Judge Cannon's injunction in place and prevents any report from being issued."

• He called on President Biden and Attorney General Merrick Garland, whom Trump's lawyers have asked to block the release of Smith's report, to "do the right thing and put a final stop to the political weaponization of our Justice system."

Context: Smith initiated a winding down of his two federal criminal cases against Trump after the president-elect's November win.

• A judge then granted the special counse's request to drop all charges against Trump in the case alleging that he tried to overturn the 2020 presidential election results.
• Smith also asked a federal court in Florida in November to pause his appeal related to Cannon's dismissal of the classified documents case.

Go deeper: Trump seeks to stop Smith releasing final report

Editor's note: This article has been updated with new details throughout.

• Drew Barrymore says her female friendships have kept her "anchored" through the years.
• Research has shown that having strong friendships is as important as exercise for longevity.
• However, it can be difficult to make and maintain friendships in adulthood.

Drew Barrymore, 49, is grateful that she has supportive female friends to rely on.

During Wednesday's episode of "The Drew Barrymore Show," which featured guest Julianne Moore, the talk show host spoke about the strong friendships she shares with the women in her life.

"I think female friendship has been the thing that probably anchored my life the most," Barrymore said.

"Most of my friends I've had for 30 and 40 years — I'm going to be 50 — so it's like my whole life I've known these people," she said. "I trust them implicitly."

The "Never Been Kissed" star had a troubled childhood: She was 13 when she entered a youth rehab center for drug use, and she was 14 when she was legally emancipated from her mother.

Barrymore said her friends are "very honest" with her and know what she's been through.

"I feel like not having had traditional family, everything is possible through my female friendships," Barrymore said, adding that they help her get through her heartbreaks "much easier."

"Every time I've ever been dumped, my first phone call is my girlfriends. They make it so much better," Barrymore said.

In particular, Barrymore has been open about her friendships with her "Charlie's Angels" costars, Cameron Diaz and Lucy Liu.

The three of them have made public appearances together over the years, including the premiere episode of Barrymore's talk show in 2020.

Barrymore revealed in a 2021 Instagram Live that she was friends with Diaz long before they shared a screen.

"We met when I was 14 and she was 16. I was working at a coffee house and she was a junior model. She's still my bestie," Barrymore said.

There are plenty of celebrity best friends in Hollywood, including Oprah Winfrey and Gayle King, who became friends after a snowstorm in 1976, and Jane Fonda and Lily Tomlin, who have known each other since meeting on set in 1980.

Research has found that having good friendships could be as important as exercise and diet for living longer.

However, adult friendships can be tricky to form and maintain, Dr. Frederick Smith, a psychologist, told Business Insider previously.

"As adults, we have many obligations," Dr. Smith said. "We may have responsibilities to our job, family, children, or education. We spend a lot of time doing these things, so we may not have enough time to devote to going out and developing friendships."

However, there are ways for people to improve their friendships, he said. This includes practicing healthy boundaries, communicating clearly, and actively working to keep the relationship alive.

"Both people have to work to maintain it," he said. "Friendship should not be one-sided. If you only call me when you need something, or you only call me when you're going through some type of turmoil, and then I never hear from you, then that's a problem."

A representative for Barrymore did not immediately respond to a request for comment sent by BI outside regular hours.

Keep you win streak going—or start a new one—with the help of Newsweek's handy hints and useful tips.

"Wordle" has remained a globally popular game with millions of users, and Newsweek is here with handy tips to solve it.

The LAPD received a call on Thursday afternoon about a possible arson suspect, Newsweek has learned.

• The International Fact-Checking Network warned of Meta's move to crowdsourced fact-checking.
• A group of 71 fact checkers said the change is "a step backward" for accuracy.
• The group proposed crowdsourcing in conjunction with professionals, a "new model."

The fact-checking group that has worked with Meta for years wrote Mark Zuckerberg an open letter on Thursday, warning him about the company's move toward crowdsourced moderation in the US.

"Fact-checking is essential to maintaining shared realities and evidence-based discussion, both in the United States and globally," wrote the International Fact-Checking Network, part of the nonprofit media organization Poynter Institute.

As of 11:30 p.m. ET on Thursday, 71 organizations from across the world had signed the letter. Poynter is updating its post as the list of organizations grows.

The group said Meta's decision, announced Tuesday, to replace third-party fact-checkers with crowdsourced moderation on Facebook, Instagram, and Threads in the US "is a step backward for those who want to see an internet that prioritizes accurate and trustworthy information."

Meta told the IFCN about the end of its partnership less than an hour before publishing the post about the switch, Business Insider reported. The change could have serious financial repercussions for the fact-checking organizations that rely on Meta for revenue.

The organization said Meta has fact-checking partnerships in more than 100 countries.

"If Meta decides to stop the program worldwide, it is almost certain to result in real-world harm in many places," IFCN wrote. Meta has not announced plans to end the fact-checking program globally.

Meta said it plans to build a crowdsourced moderation system this year similar to the community notes used by Elon Musk's X, where people can weigh in on posts ranging from the serious to the mundane. Musk laid off hundreds of X's trust and safety workers after he bought the company in 2022, and X has since been slow to act on some misinformation, BI previously reported.

IFCN wrote that community notes could be used in conjunction with professional fact-checkers, a "new model" for collaboration.

"The need for this is great: If people believe social media platforms are full of scams and hoaxes, they won't want to spend time there or do business on them," IFCN wrote.

Nearly 3.3 billion people used a Meta product every day in September, according to the company's most recent financials — more than 40% of the world's population.

Ad insiders who spoke to BI this week said they didn't expect the changes to hurt the company's business. Meta has more than a fifth of the US digital ad market — in second place behind Google, per data from BI's sister company EMARKETER.

A spokesperson for Meta declined to comment.

• Google is joining tech companies like Amazon and Meta in donating to Donald Trump's inauguration.
• The search giant said it is giving $1 million, more than triple what it gave Trump in 2017.
• In September, Trump threatened to prosecute Google if he was elected president.

Google said it is donating $1 million to President-elect Donald Trump's coming inauguration.

"Google is pleased to support the 2025 inauguration, with a livestream on YouTube and a direct link on our homepage. We're also donating to the inaugural committee," the company's global head of government affairs and public policy, Karan Bhatia, told CNBC.

Google's contribution, which will help fund the celebratory events after Trump takes office, is more than triple what it gave in 2017. The search giant donated $285,000 to Trump's first inauguration, per Federal Election Commission filings.

Back in September, Trump said in a Truth Social post that he would prosecute Google "at the maximum levels" if he won the election.

In his post, Trump accused Google of "illegally" using its system to display only "bad stories" about him while surfacing positive reports about his rival, Vice President Kamala Harris.

Google and Trump's transition team did not immediately respond to requests for comment from Business Insider.

Trump's second inauguration, on January 20, has seen donations pour in from multiple companies and business leaders.

The president-elect has received contributions from tech companies like Amazon, Meta, Microsoft, and Uber. Like Google, all four companies have donated $1 million each.

That's on top of the personal donations made by tech executives like OpenAI CEO Sam Altman and Uber CEO Dara Khosrowshahi. Both Altman and Khosrowshahi donated $1 million each as well.

"One of the big differences between the first term, in the first term, everybody was fighting me. In this term, everybody wants to be my friend," Trump said at a press conference in December.

"I don't know, my personality changed or something," he added.

Since winning the election in November, Trump has raised more than $200 million in donations, of which at least $150 million will go toward the inauguration, The New York Times reported on Saturday.

Trump raised $106.8 million for his first inauguration in 2017, per the FEC.

A large number of pets were left behind when their human companions were forced to flee their homes due to wildfires.

• Microsoft has approximately 228,000 employees worldwide.
• Microsoft is one of the most sought-after workplaces in the tech industry, so jobs are competitive.
• Here's what to know about the various jobs at Microsoft, skills you'll need, and the best salaries.

Since its 1975 founding, Microsoft has grown into one of the largest companies in the world, and its software has changed the way the world uses computers and other devices.

Currently, Microsoft employs roughly 228,000 people, globally.

A publicly traded company since early 1986, the multinational business has long been a darling of investors, and it has been a much sought-after workplace by people in the tech world.

Getting a job at Microsoft is much easier said than done, though.

Is Microsoft hard to get into?

Anyone hoping for employment at Microsoft should expect to compete against a flood of other highly qualified applicants at any given time. There are usually multiple rounds of interviews — as many as five in some cases, depending on the position — and different positions require different types of experience.

For technical roles, Microsoft's hiring process includes things like testing you on problem-solving skills and coding.

All jobs at Microsoft require at the minimum a college degree, usually in an applicable field, such as data science or mathematics, or demonstrable experience in a directly related position elsewhere. Some positions require several years of relevant experience, and others require more advanced degrees.

Experience at other large tech companies can be a huge bonus. One former Microsoft product manager who shared his resume with Business Insider said he believed his experience at Facebook, plus his entrepreneurial experience, gave him a competitive edge.

It is, in short, hard to get a job at Microsoft, but a rejection upon your first application is no reason not to try again. Many people are hired by the software giant only after applying multiple times, with their persistence and commitment seen as a positive sign by the company.

What types of jobs can you get at Microsoft?

Microsoft is a massive organization, being a software maker, and has a number of divisions that often have job postings, like the cloud-computing software Azure, the productivity suite Microsoft 365, or the legacy operating system Windows. The list of jobs one could potentially get at Microsoft is long and varied.

But Microsoft also owns a number of companies, and it may be worth expanding your job search to workplaces like GitHub, Skype, or LinkedIn.

At Microsoft or its companies, you could work in everything from data analytics to hardware engineering to digital sales to legal and corporate affairs. There are software designers, marketers, supply chain specialists, and so many more different roles needed to keep the company working.

On the software side, specifically, Microsoft often has openings for developers, software engineers, product managers, and more.

How to get a job in Microsoft?

If you have the requisite education and experience, and have done your research on the role and perfected your resume, you can start by applying online at the Microsoft Careers page.

Microsoft offers internships for those early career job-seekers lacking in experience, and, of course, it's always a good idea to network with anyone you know who works there before you apply. Note that Microsoft often implements hiring freezes, so don't try to join up during one.

Like any massive company, sometimes Microsoft has to restructure itself, and Microsoft layoffs can be massive, with thousands of employees dismissed at the same time. The post-pandemic period has been particularly brutal at Microsoft, with multiple rounds of job cuts throughout 2023 and 2024 in divisions like Azure, Xbox, and Activision Blizzard.

Know as you are going in that even if you do an excellent job in your role with Microsoft, your job may be cut in the future. The tech industry is in a period of flux, so it's always wise to have a Plan B.

What is the highest paying job at Microsoft?

The CEO of Microsoft makes nearly $50 million in total each year when you count the cash, stocks, and other compensation, and that makes being the boss the highest paid job at Microsoft.

Other very well-compensated jobs — compared to regular salaries, not the CEO's package — are Corporate Vice President, which has a salary around $650,000 plus stock compensation.

But even non-executive roles at Microsoft are widely known for their high salaries. For example, the role of Principal Software Engineer, typically pays about $215,000 plus stocks, and that of Senior Data Scientist, pays just under $200,000 annually.

Federal data from 2020 showed some of Microsoft's highest-paying jobs, including up to $240,000 for a research role, $220,000 for a program manager, and $204,000 for a hardware engineering role.

The conservative actor said that all of California's "tax dollars" went to "Gavin's hair gel."

Last year was Earth's warmest on record, eclipsing 2023's record and for the first time exceeding the Paris target of 1.5°C above preindustrial levels, the Copernicus Climate Change Service announced Thursday.

Why it matters: While climate scientists don't put too much stock into an individual year's record, the long-term trend is toward more rapid warming, and it is not entirely clear why 2024 was so hot — and what it portends.

---

Zoom in: Last year was the hottest seen in instrument record-keeping, but also much longer before that.

• In fact, as with 2023, the year was very likely the hottest in at least 125,000 years.
• Some daily global average temperatures, as measured using increasingly precise computer model data, exceeded 2°C above preindustrial levels — flirting with another temperature target in the Paris Climate Agreement.

According to Copernicus, an agency of the European Commission, each year in the last decade has been one of the 10 hottest on record.

• Data from U.S. centers, such as NOAA and NASA, show similar results. (Their final 2024 data comes out Friday.)
• Global average surface temperatures in 2024 were about 1.6°C above pre-industrial levels, Copernicus found, and about 0.12°C (.22°F) above 2023's record high.

Yes, but: The Paris Agreement's most stringent temperature target of holding warming to 1.5°C compared with pre-industrial levels refers to a long-term, 20-to-30-year average, rather than a single year or two.

• Still, 2024 shows the world is already exceeding the barrier that diplomats set at the Paris climate summit in 2015, and in fact the average of 2023 and 2024 falls above the 1.5°C threshold, Copernicus said.
• Studies show that if warming exceeds 1.5°C relative to preindustrial levels, the odds of potentially catastrophic impacts, such as the shutting of key ocean currents and melting of Arctic and Antarctic ice sheets, would increase considerably.
• Regarding exceeding the 1.5°C marker, Copernicus' news release stated: "Global temperatures are rising beyond what modern humans have ever experienced."

What they're saying: "Humanity is in charge of its own destiny but how we respond to the climate challenge should be based on evidence," said Carlo Buontempo, the Copernicus Climate Change Service's director.

• "The future is in our hands — swift and decisive action can still alter the trajectory of our future climate."

Between the lines: One of the most impactful records seen during 2024 was unusually high amounts of water vapor in the atmosphere, at about 5% above the 1991-2020 average, beating previous highs.

• Extreme heat and high humidity is a deadly combination, and record large swaths of the globe saw "strong" to "extreme heat stress," per Copernicus' data.
• The high water vapor content in the atmosphere also helped contribute to extreme precipitation events, and to rapidly intensifying tropical cyclones, such as hurricanes Helene and Milton.

The intrigue: Climate scientists are still investigating why 2024, which didn't feature a planet-warming El Niño event on top of human-caused climate change, vaulted above 2023 on the list of hottest years.

• Multiple studies have been published on this topic, and the possibility that the climate has shifted into a new phase of more rapid warming for reasons that are not yet completely clear is unnervingly still on the table.

What's next: Along with NOAA's and NASA's climate reports on Friday will come a new report on trends in ocean heat content.

• All of it is likely to show evidence of a planet heating faster and to record levels.

Raging wildfires tearing through Los Angeles County have destroyed homes, neighborhoods and iconic landmarks, and killed at least five people.

Why it matters: Some of the most historic structures in the U.S. were completely wiped out.

---

The big picture: The number of structures destroyed or damaged by the fires is believed to number "in the thousands," Los Angeles City Fire Chief Kristin Crowley said at a briefing Thursday, adding that the Palisades Fire is "one of the most destructive natural disasters in the history of Los Angeles."

Zoom in: Here's which landmarks are under threat:

Altadena's Bunny Museum

The museum burned to the ground, according to the museum's Instagram account.

Eames House

The 20th century architectural landmark was safe from the fires as ofJan. 8, per the house's Instagram.

Gamble House

The property is "safe for now!!" the house's Instagram account said.

The Getty Villa

The world-famous art museum has so far remained safe, according to a Jan. 8 announcement on its website, although a small brush fire burned trees and vegetation on the property.

The Hollywood Sign

The Sunset Fire in Hollywood Hills area caused rumors about the status of the Hollywood sign to circulate on social media (as well as AI-generated photos), but the sign was undamaged as of Thursday evening.

The Hollywood Bowl

The Hollywood Bowl was impacted by evacuation orders due to the Sunset Fire on Wednesday evening, which the amphitheater and park said on X lifted Thursday morning.

Moonshadows

The owners of Moonshadows reposted footage on Instagram reporting that the fire completely destroyed the iconic restaurant and bar.

Palisades Charter High School

Much of the school — classrooms, tennis courts, the baseball field, and bungalows — all burned in the fire, according to The New York Times. As the school was closed for winter break, few people had to be evacuated, BBC reported.

Palisades Elementary Charter School

The fires also caused "significant damage" to the elementary school, per multiple reports.

Palisades Village

Rick Caruso, owner of the Palisades Village mall, told Los Angeles Times that several homes around the shopping center were "fully engulfed" in flames, and that his shopping center too suffered damage.

The Pasadena Jewish Temple and Center

The temple and Jewish center's campus was "destroyed" by the Eaton Fire, the center said on Facebook.

Reel Inn

Staff at the Pacific Coast Highway restaurant are "unsure what will be left" after flames from the Palisades Fire swept the building, per an Instagram post Wednesday.

Theatre Palisades, Pierson Playhouse

"Our beloved Pierson Playhouse is gone, but the heart of Theatre Palisades beats on. We will rise again," Pierson Playhouse, the organization said on Facebook on Jan. 8 after the Palisades Fire struck.

Topanga Ranch Motel

California State Parks said in a statement that the Topanga Ranch Hotel, once owned by William Randolph Hearst, was also destroyed by the blaze.

Villa Aurora and the Thomas Mann House

Villa Aurora, a historic artists' residence, was partially harmed, representatives said in a statement, though the full extent of the damage was unclear as of Thursday evening.

• "There are first indications that parts of Villa Aurora were able to withstand the destructive fires. However, the building continues to be in the danger zone," the representatives write. The Thomas Mann House, which is on the Villa Aurora property, was undamaged as of Thursday.

Villa de Leon

The status of the mansion — featured in music videos by Beyoncé, Lady Gaga, and more —was not immediately clear as of Thursday evening

• But video footage captured showed that the grounds engulfed in flames from the Palisades Fire.

Will Rogers's Historic Estate

Will Rogers' historic house, along with several other Will Rogers State Park structures, were destroyed, according to California State Parks.

More from Axios:

• How to help victims of the Los Angeles fires
• LA's wildfires sparked by rare collision of climate factors
• Wildfires and hurricanes could make parts of U.S. uninsurable

Macy's is closing 66 stores as part of its "A Bold New Chapter" plan, with liquidation sales set to start in January, the retailer confirmed to Axios Thursday.

Why it matters: The struggling department store chain is getting smaller as it continues to deal with declining sales.

---

• Macy's said last February that it planned to shutter 150 stores by the end of 2026 — about a third of its locations.
• The retailer also said it is leaning into its high-end brands and plans to invest in its "350 go-forward Macy's locations."
• Tony Spring, Macy's chair and CEO, said in a statement the company is closing underproductive stores "to allow us to focus our resources and prioritize investments in our go–forward stores."

The big picture: The department store sector has been reeling for years, struggling to compete with nimbler big-box chains, fast-fashion retailers and digital competitors.

• The industry has seen the bankruptcies of stalwart chains such as Sears, JCPenney and Neiman Marcus.
• Kohl's announced Thursday that it was closing 27 stores by April.

Flashback: In early 2020 before the pandemic, Macy's Inc., which includes Bloomingdale's and Bluemercury, said it would close around 125 stores, a fifth of locations, as part of a three-year plan.

• Macy's fell short of its target and closed 80 namesake stores.
• Last year, it closed another five stores.

Macy's liquidation closing sales

State of play: Macy's confirmed to Axios that clearance sales will begin in January and will run for approximately 8–12 weeks for full-line and small-format stores.

• For most furniture galleries and free-standing Backstage stores, clearance sales will begin in February and will run for approximately six weeks.

Macy's stores closing list 2025

Zoom in: Macy's typically announces closings after the holiday shopping season, which has been the case in recent years, including in January 2023 and January 2024.

• Stores slated to close include stand-alone Backstage stores, Market by Macy's small format stores, department stores and furniture stores.

Arizona Macy's store closure

• Mesa: Superstition Springs Center, 6535 E Southern Ave.

California Macy's closing stores

• Chula Vista: Otay Ranch Town Center, 2015 Birch Road
• Citrus Heights: Sunrise Mall, 6000 Sunrise Mall
• Corte Madera: Village at Corte Madera, 1400 Redwood Highway
• Los Angeles: Downtown LA Plaza, 750 W 7th St.
• Newark: NewPark Mall, 200 Newpark Mall
• San Diego: Mission Valley Home, 1555 Camino De La Reina
• San Mateo Hillsdale Furniture: 2838 South El Camino
• Westminster: Westminster Mall, 300 Westminster Mall

Colorado Macy's closing stores

• Centennial Southglenn Furniture: 6797 South Vine Street (already closed)
• Denver: The Shops at Northfield, 8298 E Northfield Blvd

Macy's Florida closing stores

• Altamonte Springs Furniture: 820 West Town Parkway
• Boca Raton Furniture: 9339 Glades Rd (already closed)
• Boynton Beach: Boynton Beach Mall, 801 N Congress Ave
• Fort Lauderdale Furniture: 4501 N. Federal Highway
• Pembroke Pines Furniture: 13640 Pines Blvd.
• Sarasota: Westfield Siesta Key, former Southgate Mall, 3501 S Tamiami Trail
• South Dade Furniture: 13251 South Dixie Highway (already closed)
• Tampa: West Shore Plaza, 298 Westshore Plaza

Georgia Macy's closing stores

• Duluth Furniture: Gwinnett Furniture, 3360 Ventura Parkway
• Duluth: Gwinnett Place Mall, 2100 Pleasant Hill Road
• Suwanee Market by Macy's: Johns Creek Town Center, 3630 Peachtree Parkway

Idaho Macy's closing store

• Coeur d'Alene: Silver Lake Mall, 200 W Hanley Ave.

Illinois Macy's store closure

• Springfield: White Oaks Mall, 104 White Oaks Mall

Louisiana Macy's closing store

• Lafayette: Acadiana Mall, 5733 Johnston St.

Macy's Maryland stores closing

• Bel Air: Harford Mall, 600 Baltimore Pike
• Baltimore: Security Square Mall, 6901 Security Blvd.

Macy's Massachusetts store closure

• Kingston: Kingston Collection, 101 Kingston Collection Way

Michigan Macy's closing stores

• Flint: Genesee Valley Center, 4600 Miller Road
• Sterling Heights: Lakeside Mall, 14200 Lakeside Circle
• Traverse City: Grand Traverse Mall, 3400 S Airport Road W
• Troy: Oakland Mall, 500 W 14 Mile Road

Minnesota closing Macy's stores

• Burnsville: Burnsville Center, 14251 Burnhaven Drive
• Maplewood: Maplewood Mall, 3001 White Bear Ave.

Missouri Macy's closing stores

• Kansas City: Metro North Mall, 400 NW Barry Road
• St. Louis: South County Center, 10 S County Center Way

Macy's New Jersey store closing

• West Orange: Backstage Essex Green Shopping Center, 495 Prospect Avenue West

Macy's New York closings

• Brooklyn Downtown: 422 Fulton St.
• Brooklyn: Backstage Sheepshead Bay: 2027 Emmons Ave.
• Bronx: Backstage Fordham Place, 404 East Fordham Road
• Elmhurst: Backstage Queens Place, 88-01 Queens Blvd.
• Huntington: Melville Mall, 834 Walt Whitman Road
• New Hyde Park: Backstage Lake Success, 1526 Union Turnpike
• Massapequa: Sunrise Mall, 400 Sunrise Mall
• Rochester: Greece Ridge Center, 397 Greece Ridge Center
• Staten Island Furniture: 98 Richmond Hill Road

Ohio Macy's closing stores

• Beavertown: Fairfield Commons, 2727 Fairfield Commons Blvd.
• Toledo: Franklin Park, 5001 Monroe St.

Oregon closing Macy's stores

• Hillsboro: The Streets of Tanasbourne, 2055 NE Allie Ave.
• Salem: Salem Center, 400 High St. NE

Pennsylvania Macy's closing stores

• Altoona: Logan Valley Mall, 5580 Goods Lane
• Exton: Exton Square, 245 Exton Square Mall
• Philadelphia: Center City, 1300 Market St.
• Wilkes Barre: Wyoming Valley Mall, 59 Wyoming Valley Mall

Tennessee Macy's store closure

• Memphis: Oak Court, 4545 Poplar Ave.

Texas Macy's store closings

• Dallas Market by Macy's: Southlake Town Square, 321 State Street
• Flower Mound Market by Macy's: Highlands of Flower Mound, 6101 Long Prairie Road
• Fort Worth Market by Macy's: West Bend, 1751 River Run
• Houston: Almeda Mall, 100 Almeda Mall
• Plano: The Shops at Willow Bend, 6209 W Park Blvd.
• Fairview: Village at Fairview, 201 Stacy Road

Virginia Macy's store closing

• Colonial Heights: Southpark Mall, 170 Southpark Circle

Washington Macy's closing stores

• Puyallup: South Hill Mall, 3500 S Meridian
• Redmond Furniture: 15340 NE 24th Street
• Siverdale: Kitsap Mall, 10315 Silverdale Way NW

Editor's note: This story was updated with additional information throughout.

More from Axios:

• Kohl's closing 27 underperforming stores by April 2025
• Taco Bell, McDonald's, Subway, Wendy's, KFC add new meal deals
• Apple reaches $95 million settlement in Siri lawsuit. What to know.

Before and after satellite images help show the destruction caused as the Los Angeles County wildfires continue.

The big picture: So far, at least 25,000 acres have burned and five deaths confirmed, per officials.

---

More from Axios:

• Sunset Fire threatens Hollywood landmarks
• In photos: L.A. County burns as Eaton Fire explodes in Southern California

The attitudes of financial advisers toward the crypto asset class are changing fast.

The big picture: More than half of FAs in a recent survey say the presidential election has made them more likely to invest in crypto. This time last year, in a survey from the same folks, hardly any advisers believed bitcoin ETFs would even be approved this year.

---

Zoom in: The survey of 400 advisers was issued by Bitwise, a crypto index fund manager that offers BITB, one of the top 5 bitcoin exchange-traded funds.

• As the firm continues to push the ETF as an investment vehicle, it conducted the survey with VettaFi to see where advisers stood.
• 96% of them said they have gotten questions about crypto.
• Nearly all (99%) of those who have made allocations for clients plan to hold on or increase it.

The intrigue: Most advisers still can't recommend bitcoin ETFs to their clients, because they work in-house for one of the big investment firms that haven't officially sanctioned any bitcoin funds yet.

• This is not that unusual, Matt Hougan, Bitwise's chief investment officer, tells Axios. A lot of times the big guys like to wait a year or so before recommending a new exchange-traded product.

Yes, but: He also noted that they tend to make an exception for a hot ETF launch, and the bitcoin ETFs have been the hottest. So it is a little strange.

• Morgan Stanley, for one, reportedly allows its advisers to recommend BlackRock and Fidelity's bitcoin ETFs to certain clients.

What he's saying: Hougan doesn't believe the early days are over for bitcoin as an investment until its market cap trumps that of gold.

• With gold's market cap at $18 trillion against bitcoin's nearly $2 trillion, that suggests a lot more room to run.

Friction point: Hougan said we've gone through four years of an administration hostile to cryptocurrency, with an investment regulator who takes an especially dim view.

• That was likely to make the big firms nervous. When and if Paul Atkins gets seated in the SEC, that should be enormously encouraging to the big firms putting bitcoin ETFs on their approved lists.

What we're watching: How bad the next bear market will be.

• Every contraction in crypto has seen an 80%-90% drop in bitcoin price, but, as we've said, it seems like the ETF era could soften that next drop.
• "I think it will be shallower and that it will come back faster and that will mean something is different," Hougan concurred.

The bottom line: "The reality is 95% of the world still doesn't own bitcoin, and the vast majority of institutional investors still don't own bitcoin," Hougan said. "Until that changes, it's still early."

"These actions not only exacerbate the current crisis, but also hinder efforts to achieve comprehensive peace," RSF told Newsweek.

The Philadelphia Phillies need to replace Carlos Estévez in the bullpen and they could look to sign Tanner Scott to do so.

The two starting catchers in the World Series — Will Smith of the Dodgers and Austin Wells of the Yankees — made the Top 10; where do they rank on the list?