Tag: BLR
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US Considers Bank Support, Gives First Republic Time – Bloomberg News
March 25 (Reuters) – US authorities are considering expanding an emergency credit facility that would provide more support to banks, in a bid to give First Republic Bank (FRC.N) more time to strengthen its balance sheet, Bloomberg News reported. on Saturday. All deliberations are in the early stages and an expansion of the Federal Reserve’s […]
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Rivian Moves Workers to Illinois EV Plant to Speed ​​Up Production – WSJ
March 24 (Reuters) – Rivian Automotive Inc (RIVN.O) is moving parts of its manufacturing engineering team to Illinois to speed up production, the Wall Street Journal reported on Friday, citing a person familiar with the matter. The reorganization, which is expected to be announced soon, would mean those working on manufacturing engineering would be asked […]
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Wall Street ends volatile week higher as Fed officials ease banking fears
The KBW Regional Bank index is recovering US-listed shares of Deutsche Bank slide Actvision surges as regulators drop concerns over Microsoft deal Indexes up: Dow 0.41%, S&P 0.56%, Nasdaq 0.31% NEW YORK, March 24 (Reuters) – US stocks closed higher on Friday, marking the end of a tumultuous week in which Federal Reserve officials calmed […]
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Exclusive: Walmart lays off hundreds of US employees at five e-commerce fulfillment centers
NEW YORK, March 23 (Reuters) – Hundreds of employees at five US Walmart facilities that fulfill e-commerce orders are being asked to find jobs at other company locations within 90 days, a spokesperson confirmed to Reuters. About 200 workers in Pedricktown, New Jersey, and hundreds more in Fort Worth, Texas; Chino, California; Davenport, Florida; and […]
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Hindenburg shuts down Jack Dorsey’s payment firm Block, shares collapse
March 23 (Reuters) – Hindenburg Research announced short positions in Block Inc (SQ.N) on Thursday, claiming the Jack Dorsey-led payments company overstated its user numbers and underestimated its customer acquisition costs. Shares of Block fell 20% to $57.85 in premarket trading after the report. If losses continue through the session, the stock could post its […]
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Citigroup CEO declares ‘this is not a credit crisis’ after US bank failures
March 22 (Reuters) – Jane Fraser, CEO of Citigroup Inc (CN), expressed confidence in US banks on Wednesday after a series of closures upset investors and fueled turmoil in global financial markets. “The banking system is pretty healthy,” and major and regional banks are well capitalized, Fraser told the Economic Club of Washington DC on […]
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The US SEC threatens to sue Coinbase for some crypto products
March 22 (Reuters) – The US Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange’s products, straining the largely unregulated industry to stand. Shares of Coinbase fell nearly 13% to $67.33 in extended trading after the company said Wednesday that the regulator had issued it […]
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GameStop’s surprise profit causes short squeeze, meme stocks soar
March 22 (Reuters) – Meme share GameStop Corp (GME.N) rose nearly 40% on Wednesday as the video game retailer’s first profitable quarter in two years squeezed bearish investors and sparked a rise in other stocks popular with retailers . AMC Entertainment Holdings Inc (AMC.N) gained 3.4%. AMC and GameStop were at the heart of a […]
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SVB Financial Group accuses FDIC of cutting off the money
March 21 (Reuters) – SVB Financial Group (SIVB.O) said on Tuesday that the US Federal Deposit Insurance Corporation had taken “improper actions” to close it off from cash held at its former subsidiary Silicon Valley Bank, which has been banned by regulators seized to stop a run on the national bank. SVB Financial made the […]
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Cryptoverse: Bitcoin passes bank stress test
21 March (Reuters) – As the crisis haunts the traditional world of stocks and bonds, bitcoin suddenly looks like a safe haven. The notoriously volatile cryptocurrency seems positively healthy and savory, just as a banking collapse drives markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 […]