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Tag: WSJ-PRO-WSJ.com

  • Barney Frank was right about Signature Bank

    Mar 20, 2023 6:26 PM ET A person walks past a Signature Bank in New York City, March 20. Photo: sarah yenesel/Shutterstock We never thought we’d be writing that headline. But on Sunday, the Federal Deposit Insurance Corp. known that New York Community Bancorp‘s Flagstar Bank will fully acquire Signature Bank‘s cash deposits, except those […]

  • Amazon plans to lay off another 9,000 employees

    Chief Executive Andy Jassy said in a statement that the company has added a significant number of employees in recent years, a move he defended as necessary given what was happening in Amazon’s business at the time. “Given the uncertain economy we live in, and the uncertainty that exists for the foreseeable future, we have […]

  • 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 […]

  • From Zero to Hero – WSJ

    President Joe Biden at the University of Nevada, Las Vegas, March 15. Photo: Ethan Miller/Getty Images Isn’t it bizarre that so many people who cause problems then turn around and become heroes who solve the same problems they caused? Between the $1.9 trillion US bailout from the Biden administration and the green-laden $738 billion Inflation […]

  • Fed expressed concerns in 2019 about SVB risk management

    WASHINGTON — The Federal Reserve raised concerns about risk management at Silicon Valley Bank that began at least four years before its bankruptcy earlier this month, documents show. In January 2019, the Fed issued a warning to SVB SIVB -60.41% about its risk management systems, according to a presentation distributed last year to employees of […]

  • UBS closes deal to buy Credit Suisse for more than $2 billion

    Swiss authorities tried to finalize the deal on Sunday before Asian markets opened this week. They were walking a fine line, they had to get the boards of the two banks to agree to the deal and avoid the alternative, a regulator-led liquidation of Credit Suisse, which could prove longer and more painful for the […]

  • Virgin Orbit, Richard Branson’s satellite launch, has fallen fast

    Two months ago, Richard Branson’s Virgin Orbit VORB -9.14% Holdings Inc. was about to make history by launching the first satellites into orbit from the billionaire’s homeland of the UK That high-profile launch from Cornwall, England went badly, ending in the destruction of the satellite payload and sparking an investigation into what went wrong. Virgin […]

  • SVB Financial Files for Chapter 11 Bankruptcy Protection

    Silicon Valley Bank’s parent company filed for bankruptcy, facilitating the sale of its remaining assets after the technology-focused bank at its core was seized by federal regulators. SVB Financial Group filed for Chapter 11 protection in New York bankruptcy court on Friday, the largest bankruptcy filing due to a bank failure since Washington Mutual Inc. […]

  • First Republic Bank in bailout talks with America’s largest lenders

    The largest banks in the US, including JPMorgan Chase JPM 1.62% & Co., discuss a joint rescue of First Republic Bank FRC -13.67% that could include a significant capital injection to prop up the beleaguered lender, people familiar with the matter said. JPMorgan partners with Citigroup Inc., C 0.73% bank of America Corp. and Wells […]