The Federal Reserve is raising its key interest rate by 0.25%, continuing on its crusade against inflation while warning that recent instability in the banking sector could weigh on the…
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The parent of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protection. SVB Financial Group, along with its CEO and its chief financial…
Editor's Pick
Home sales spike 14.5% in February as the median price drops for the first time in over a decade
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Sales of previously owned homes rose 14.5% in February compared with January, according to a seasonally adjusted count by the National Association of Realtors. That put sales at an annualized rate…
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UBS buys Credit Suisse for $3.2 billion as regulators look to shore up the global banking system
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UBS agreed to buy its embattled rival Credit Suisse for 3 billion Swiss francs ($3.2 billion) Sunday, with Swiss regulators playing a key part in the deal as governments looked to stem a…
The full picture of why Silicon Valley Bank failed so spectacularly and so fast has not yet come into focus. But uncommon lending practices at the cutting-edge lender contributed to…
Silicon Valley Bank’s collapse has sent entrepreneurs scrambling to address concerns few ever thought they’d have to worry about. For some Black founders and investors with ties to the failed…
WASHINGTON — The former head of Wells Fargo’s retail bank is facing prison time after agreeing to plead guilty to obstructing a bank examination in relation to the sweeping phony accounts…
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Buttigieg says the U.S. should heed ‘warning signs’ to avoid a ‘catastrophic event’ in the skies
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U.S. Transportation Secretary Pete Buttigieg said Wednesday that the country’s air system was skirting disaster in the wake of multiple near-miss aviation incidents in the past year. Speaking at an…
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Credit Suisse to borrow up to nearly $54 billion from Swiss National Bank
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Credit Suisse announced it will be borrowing up to 50 billion Swiss francs, about $53.68 billion, from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.…
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Wall Street rides to the rescue as 11 banks pledge $30 billion to First Republic Bank
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A group of financial institutions has agreed to deposit $30 billion in First Republic Bank in what’s meant to be a sign of confidence in the banking system, the banks announced…