NEW YORK - North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sendin...
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WSJ: UBS Confirms Acquisition of Credit Suisse in Over $3 Billion Deal
UBS Group AG agreed to take over its longtime rival Credit Suisse Group AG more than $3 billion, pushed into the biggest banking deal in years by regulators eager to halt a dangerous decline in co...
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FT: LME finds bags of stones instead of nickel in metal warehouse
The London Metal Exchange has found bags full of stones at one of its warehouses instead of the nickel they were supposed to contain in the latest drama to hit the scandal-stricken metals market.
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Fed’s Emergency Bank Lending Soars to New Record
Financial institutions took billions in short-term loans this week from the Federal Reserve as the industry copes with a serious crisis of confidence and liquidity, the central bank reported Thurs...
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Tiger Global Writes Down Venture Funds’ Bets by 33% in 2022
WSJ: Tiger Global marked down the value of its investments in private companies by about 33% across its venture-capital funds in 2022, according to people familiar with the firm.
The markdowns ...
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Eleven Banks Deposit $30 Billion in First Republic Bank
WSJ: The biggest banks in the U.S. swooped in to rescue First Republic Bank FRC 9.98%increase; green up pointing triangle
with a flood of cash totaling $30 billion, in an effort to stop a sprea...
Investing
Credit Suisse to borrow up to $54 bln from Swiss National Bank
Investing.com -- Embattled Swiss lender Credit Suisse Group AG (SIX:CSGN) (NYSE:CS) said on early-Thursday that it will exercise an option to borrow up to 50 billion Swiss francs ($53.68 billion) ...
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CNBC: Russian jet downs U.S. drone over Black Sea
WASHINGTON — A Russian fighter jet downed a U.S. drone operating over the Black Sea on Tuesday, U.S. European Command said in a statement.
“Our MQ-9 aircraft was conducting routine operations in in...
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Carl Icahn says our economy is breaking because of inflation and poor corporate leadership
Famed investor Carl Icahn believes the U.S. economy is in trouble because of poor corporate leadership and stubbornly high inflation.
“The system is breaking down, and we absolutely have a majo...
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What Does the Silicon Valley Bank Collapse Mean For The Economy?
amelia.td (Amelia Thomson-DeVeaux, senior reporter): On Friday, financial regulators announced that they were taking control of Silicon Valley Bank, signaling the largest bank collapse since the globa...