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Tag: PacWest Bancorp

  • Janet Yellen’s guarantee to banks has a catch

    US Treasury Janet Yellen speaks at the American Bankers Association Washington Summit on March 21, 2023 in Washington, DC. Drew Anger | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need to […]

  • TSLA, FRC, UBS, FL and more

    A vehicle charges at a Tesla Supercharging station in Corte Madera, California, USA on Thursday, March 2, 2023. David Paul Morris | Bloomberg | Getty Images Check out the companies making the biggest strides in premarket trading: Tesla – The electric vehicle maker rose 2% after Moody’s gave it a Baa3 rating and removed its […]

  • Not everyone is happy that UBS is buying Credit Suisse

    A construction site security guard outside a bank branch of Credit Suisse Group AG in Bern, Switzerland, on Monday, March 20, 2023. Stefan Wermuth | Bloomberg | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need […]

  • JPMorgan CEO Jamie Dimon leads efforts to create new First Republic Bank Rescue Plan

    Discussions, while tentative, focused on how the industry could arrange an investment that would bolster the bank’s capital, according to people familiar with the matter. One of the options on the table, people said, is an investment in First Republic by the banks themselves. Eleven major banks joined forces last week to deposit $30 billion […]

  • US stocks rise, but First Republic Bank slides

    In trading at 4pm ET, the Dow Jones Industrial Average added about 380 points, or 1.2%, and the S&P 500 was up 0.9%. The tech-focused Nasdaq Composite climbed 0.4%. The indices fell on Friday, but so far have remained relatively isolated from the banking crisis. Authorities have been trying to halt a dangerous drop in […]

  • Stocks make the biggest moves premarket: CS, LEN, PACW

    Axel Lehmann, Chairman of Credit Suisse Group AG, speaks at the annual membership meeting of the Institute of International Finance (IIF) in Washington, DC, on Friday, October 14, 2022. Ting Shen | Bloomberg | Getty Images Check out the companies making headlines before the bell rings. Credit Suisse — Shares of Credit Suisse fell 21.5% […]

  • FDIC transfers all deposits from Silicon Valley Bank to the newly established bridge bank

    The Federal Deposit Insurance Corp. said Monday it transferred all deposits, both insured and uninsured, from the former Silicon Valley Bank to a newly created full-service FDIC-managed bridge bank in a move that aims to protect all of the bank’s depositors. The move comes after the regulator closed the bank and its 13 branches on […]

  • Silicon Valley Bank shut down by regulators, FDIC takes control

    SANTA CLARA, Calif. — Silicon Valley Bank collapsed Friday in the second-biggest bank failure in U.S. history after a run on deposits thwarted the tech-focused lender’s plans to raise fresh capital. The Federal Deposit Insurance Corp. said it has taken control of the bank through a new entity it created, the Deposit Insurance National Bank […]

  • Stocks extend weekly losses after job data, bank collapse

    The government said on Friday that US hiring grew solidly but cooled off in February as employers added 311,000 jobs, more than economists polled by The Wall Street Journal had expected. Unemployment rose slightly to 3.6%, still historically low. Meanwhile, regulators closed Silicon Valley Bank after a run on deposits thwarted the tech-focused lender’s plans […]

  • Stocks making the biggest moves in the afternoon: SBNY, DOCU, ORCL

    On June 13, 2022 in Redwood Shores, California, a sign stands in front of Oracle’s headquarters. Justin Sullivan | Getty Images Check out the companies making headlines during Friday afternoon trading. Allbirds – Shares fell 40% after the shoe retailer’s fourth-quarter results fell short of Wall Street expectations. In addition, the company posted its first […]