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The AIG towers in New York City. Photo: Chris Hondros/Getty Images

AIG will move its world headquarters next year from New York City's Financial District to Rockefeller Center, where it will occupy 8 floors and 325,000 square feet, the corporation announced Tuesday.

The big picture: The move to 1271 Avenue of the Americas will see the insurance giant depart the city's Financial District after more than three decades. AIG will also consolidate the rest of its footprint in the area to two new locations, including one at the Goldman Sachs Tower.

Thought bubble, via Axios business editor Jennifer Kingson: The move is a shot in the arm for New York City, which has been suffering from corporate flight amid the pandemic.

  • Wealthy residents who can work from home have fled the city for the suburbs and vacation homes, turning the midtown area that AIG will occupy into a relative ghost town.
  • Wall Street firms are considering leaving the city or reducing their footprint, and a new report from the Partnership for New York City says that companies “expect only 10% of their employees to return to the office this summer and just 40% by year-end,” according to Bloomberg.

Go deeper

Trump won't attend UN General Assembly in-person, White House says

Trump talks to reporters outside the White House on Sept. 17. Photo: Win McNamee/Getty Images

White House chief of staff Mark Meadows told reporters on Thursday that President Trump will not attend the United Nations General Assembly in-person this year, per pool reports.

The big picture: The UN turns 75 this year, but the pandemic has muted the anniversary to virtual meetings. Trump has yet to submit a virtual speech for the New York City event, Bloomberg's Jennifer Jacobs reports.

19 mins ago - Health

FDA panel backs Merck's antiviral COVID pill

The Merck Cherokee Plant in Riverside, Pennsylvania. Photo: Paul Weaver/SOPA Images/LightRocket via Getty Images

A Food and Drug Administration advisory panel on Tuesday voted 13-10 to endorse an antiviral pill developed by Merck and Ridgeback Biotherapeutics to treat adults at high risk of becoming severely ill from COVID-19, despite concerns over its effectiveness and safety.

Why it matters: Oral antiviral drugs designed to prevent or treat COVID-19 could be key pandemic-fighting tools, if proven effective, especially as new variants emerge. If authorized, the Merck drug, known as molnupiravir, would be the first treatment of its kind to be made available in the United States.

Shooting at Michigan high school leaves 3 dead, 6 wounded

Screengrab: CBSN

Three people dead and six others are wounded after a shooting at a high school in Michigan according to the Oakland County Sheriff's Office.

Driving the news: The alleged shooter was a 15-year-old sophomore at Oxford High School and has been arrested, per police.