Allan Baxter | Photolibrary | Getty Images Asia-Pacific’s leading index erased its year-to-date gains and is now flat in 2023 as bank stocks led declines Tuesday. The MSCI Asia Pacific index hit...
Tag: business news
SVB collapse unlikely to hit fundraising for Southeast Asia startups: VCs
SANTA CLARA, CA, US – MARCH 13: People wait outside the Silicon Valley Bank headquarters in Santa Clara, CA, to withdraw funds after the federal government intervened upon the bank’s colla...
Regional bank stock plunge creating key entry point for investors, top analyst says
The dramatic drop in regional bank stocks is a key entry point for investors, according to analyst Christopher Marinac. Marinac, who serves as Director of Research at Janney Montgomery Scott, believes...
Evercore warns SVB fallout will force new market low
Evercore ISI is comparing the bank stress to another critical time on Wall Street: The year of the savings and loan crisis and epic crash. “To think you would see financial stress of this kind d...
Stocks moving big after hours: GTLB, UAL, FRC
GitLab Sopa Images | Lightrocket | Getty Images Check out the companies making headlines after hours. Gitlab — Shares tumbled 36% after Gitlab issued a softer-than-expected outlook. It posted fiscal-y...
Regulators may still try to find a buyer for Silicon Valley Bank, source says
Customers wait in line outside of a Silicon Valley Bank branch in Wellesley, Massachusetts, US, on Monday, March 13, 2023. Sophie Park | Bloomberg | Getty Images Regulators could make a second attemp...
How ‘duration risk’ came back to bite SVB and led to rapid collapse
Following the fall of Silicon Valley Bank, a lot of terms are being thrown around on CNBC and elsewhere in discussions about what went wrong. One key term is “duration risk” along the yiel...
Gundlach says Fed will hike rate next week to save face, but shouldn’t
Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019. Adam Jeffery | CNBC DoubleLine Capital CEO Jeffrey Gundlach believes that the Federal Reserve will still pull the tr...
Something broke, but the Fed is still expected to go through with rate hikes
Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled The Semiannual Monetary Policy Report to the Congress, in Hart Building ...
Stocks moving big midday: FRC, MRNA, NEM, PRVB
People are seen inside the First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segar Mike Segar | Reuters Check out the companies making the ...
SpaceX to test Starlink, T-Mobile cell service this year
Sopa Images | Lightrocket | Getty Images WASHINGTON — SpaceX plans to begin testing its Starlink satellite-to-cell service with T-Mobile this year, an executive of Elon Musk’s company said on Mo...
Mortgage rates tumble in the wake of bank failures
A residential neighborhood in Austin, Texas, on Sunday, May 22, 2022. Jordan Vonderhaar | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage dropped to 6.57% Monday, accor...
Charles Schwab shares drop 8%, but rally off lows as firm defends financial position
Pedestrians pass in front of a Charles Schwab bank branch in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Charles Schwab shares cut steep losses on Monday as the financial ...
Third-biggest bank failure in U.S. history
The Signature Bank headquarters at 565 Fifth Avenue in New York, US, on Sunday, March 12, 2023. Lokman Vural Elibol | Anadolu Agency | Getty Images On Friday, Signature Bank customers spooked by the s...
Biden administration urges Congress to ban airline family-seating fees
Passengers wearing protective masks are seen aboard before a JetBlue flight to London at JFK International Airport in the Queens borough of New York City, August 11, 2021. Jeenah Moon | Reuters The Bi...
Rivian wants out of Amazon exclusive agreement for EV delivery trucks
One of Amazons new electric delivery vans from Rivian gets ready to leave the Amazon Distribution Facility on Cyber Monday on November 28, 2022 in Aurora, Colorado. Rj Sangosti | Denver Post | Getty I...
Oscar box office bump is shrinking
Michelle Yeoh in “Everything Everywhere All at Once.” Source: imdb The winner of the best picture award at Sunday’s Oscars may not get a box office bump for taking home the nightR...
British startups react to Silicon Valley Bank UK’s rescue by HSBC
An entrance to the Alphabeta Building, which houses the offices of UK unit of Silicon Valley Bank, in the City of London, UK, on Monday, March 13, 2023. HSBC Holdings Plc is set to buy the UK arm of S...
Investors rush into bonds, gold in flight to safety after SVB rescue
A trader works on the floor during morning trading at the New York Stock Exchange (NYSE) on March 10, 2023 in New York City. Spencer Platt | Getty Images Investors flocked to safe-haven assets such a...
ILMN, FRC, SGEN & More
Offices of Illumina, in San Diego, California. Mike Blake | Reuters Check out the companies making headlines before the bell. First Republic — Shares of First Republic cratered more than 64% before th...
Silicon Valley’s ‘greed and avarice’ to blame, trader says
Andrey Rudakov | Bloomberg | Getty Images The fallout from the shuttering of Silicon Valley Bank — the second-largest bank collapse in U.S. history — continued Monday, dragging down international bank...
USDC nearly regains $1 peg after Circle says SVB deposit is available
In this photo illustration, a woman holds a smartphone with the USD Coin (USDC) logo displayed on the screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images USD Coin (USDC) came close to r...
Silicon Valley Bank collapse hits startups as far away as China
Silicon Valley Bank has a 50% stake in its joint venture with Shanghai Pudong Development Bank. Future Publishing | Future Publishing | Getty Images The Silicon Valley Bank fallout has ripple effects ...
Bitcoin (BTC), crypto prices surge as SVB depositors protected
Jakub Porzycki | Nurphoto | Getty Images Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the lender’s U...
Bill Ackman says U.S. did right thing in protecting SVB depositors
A sign hangs at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Billionaire investor Bill Ackman said the U.S. government’s actio...
China’s new premier on economic outlook, growth
China’s new premier Li Qiang said Monday that policymakers would focus on the quality of growth. While he said China’s growth target of around 5% won’t be easy to achieve, policymake...
Goldman Sachs no longer expects the Fed to hike rates in March
Goldman Sachs logo displayed on a smartphone. Omar Marques | SOPA Images | LightRocket via Getty Images Goldman Sachs no longer sees a case for the Federal Reserve to deliver a rate hike at its meetin...
We’re looking for stocks to buy after regulators saved SVB depositors
Phew, that was close. Too close. There was so much fear engendered by the events of the last 72 hours since Silicon Valley Bank collapsed that we’ll have investors who want to sell no matter wha...
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
WASHINGTON — Plans announced Sunday to fully reimburse deposits made in the collapsed Silicon Valley Bank and the shuttered Signature Bank will rely on Wall Street and large financial institutions — n...
Regulators unveil plan to assure depositors will get money after SVB collapse
A man walks by the headquarters of Silicon Valley Bank on March 10, 2023 in Santa Clara, California. Liu Guanguan | Getty Images Banking regulators devised a plan Sunday to shore up deposits at Silico...
PNC decides not to bid on Silicon Valley Bank as regulators struggle to find rescue buyers, source says
A PNC Bank branch in New York, on Wednesday, Jan. 18, 2023. Bing Guan | Bloomberg | Getty Images PNC Financial Group has decided against bidding on Silicon Valley Bank as regulators struggled to find ...