Tag: PacWest Bancorp
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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 […]
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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 […]
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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 […]
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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% […]
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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 […]
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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 […]
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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 […]