Tag: WLTH
-
Hardline US Republicans Oppose Bank Deposit Guarantees Above $250,000 Limit
WASHINGTON, March 20 (Reuters) – Hardline Republicans in the House of Representatives vowed Monday to oppose any universal federal guarantee on bank deposits above the current limit of $250,000. while financial confidence wavers. The Republican House Freedom Caucus said in a statement that the Federal Reserve should wind down its extraordinary funding facility created March […]
-
ECB watchdog sees no contagion of Europe after US and Swiss bank rescues
March 17 (Reuters) – European Central Bank regulators see no contagion for eurozone banks from the recent turmoil, a source said Friday, after US lenders First Republic Bank (FRC.N) tossed a $30bn lifeline and record amounts from the Federal Reserve. To book. Major US banks stepped in on Thursday to bail out the San Francisco-based […]
-
Credit Suisse secures $54 billion lifeline as authorities scramble to prevent global banking crisis
March 16 (Reuters) – Credit Suisse (CSGN.S) said on Thursday it would borrow up to $54 billion from the Swiss central bank to bolster liquidity and investor confidence after a slump in its shares raised fears of a global banking crisis . The Swiss bank’s announcement on Thursday helped counter heavy selling in financial markets […]
-
Wall Street collapses as Credit Suisse triggers another bank sell-off
February retail sales, falling producer inflation Credit Suisse US stocks hit record lows Regional bank shares fall NEW YORK, March 15 (Reuters) – US stocks lost late Wednesday, but the Dow and S&P 500 still closed lower as problems at Credit Suisse revived fears of a banking crisis, lowering bets on a smaller US rate […]
-
Charles Schwab’s CEO says the company is liquid and not seeking capital or deals
NEW YORK, March 14 (Reuters) – Charles Schwab (SCHW.N) has enough liquidity, the bank and brokerage’s CEO said Tuesday, to allay concerns about a “doomsday” scenario following the bankruptcy of two US lenders since Friday. “We have not raised any capital and we are not in the M&A market at this time,” Walt Bettinger, CEO […]
-
Meta to cut 10,000 jobs in second round of layoffs
March 14 (Reuters) – Facebook parent company Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares rose 6% on the news. The widely anticipated job cuts are part of […]
-
Global bank share price deepens as SVB collapse crisis fears heat up
March 14 (Reuters) – Shock waves from the collapse of Silicon Valley Bank (SIVB.O) hit global banking stocks further on Tuesday as assurances from President Joe Biden and other policymakers did little to calm markets and prompt a rethink of the interest rate outlook. Biden’s efforts to reassure markets and savers came after emergency measures […]
-
Bank stocks are falling again as turmoil in the SVB market continues
LONDON/SINGAPORE, March 13 (Reuters) – Bank stocks in Europe and Asia plummeted Monday as the United States bailed out deposits from collapsed tech-focused lender Silicon Valley Bank, failing to reassure investors that other banks remain financially sound. The European STOXX banking index (.SX7P) fell 4.3%, after losing 3.78% on Friday, putting it on track for […]
-
US organizes ‘material action’ to stop SVB outages
NEW YORK, March 12 (Reuters) – US authorities on Sunday were preparing “material action” to bolster deposits at Silicon Valley Bank (SVB) and try to mitigate any wider financial fallout from the sudden collapse of the technology-based startup-focused lender counter. sources familiar with the matter told Reuters. Officials in the Biden administration worked all weekend […]
-
SVB is the largest bank failure since the 2008 financial crisis
California regulator closes SVB, appoints FDIC as trustee SVB focused on lending to start-ups; branches open again on Monday FDIC to Sell Bank Assets; ‘chaos’ reported amid shooting Bank stocks fall in US, Europe, but well from lows Crisis exposes banks’ ‘vulnerabilities’ amid rising interest rates March 10 (Reuters) – Startup-focused lender SVB Financial Group […]