Why Silicon Valley Bank collapsed and what it could mean
By Hanna Ziady, CNN Silicon Valley Bank collapsed with astounding speed on Friday. Investors are now on edge about whether its demise could spark a…
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The Fed needs to stop raising rates now, former FDIC chair says after Silicon Valley Bank failure
By Matt Egan, CNN Sheila Bair, a top banking regulator during the 2008 financial crisis, says the stunning implosion of Silicon Valley Bank is…
Continue ReadingChina’s new premier tries to reassure private sector amid widespread concerns about future
By Laura He, CNN China’s new premier has tried to reassure the private sector in his debut press conference, as concerns grew about the…
Continue ReadingChina’s new premier tries to reassure private sector amid widespread concerns about future
By Laura He, CNN China’s new premier has tried to reassure the private sector in his debut press conference, as concerns grew about the…
Continue ReadingHSBC buys SVB’s UK business, ending ‘nightmare’ for British tech
By Michelle Toh, Rob North and Olesya Dmitracova, CNN HSBC has scooped up the UK arm of failed Silicon Valley Bank, securing the deposits of…
Continue ReadingUS futures steady after Fed moves to restore confidence in banking system
By Michelle Toh and Anna Cooban, CNN US stock futures were holding steady Monday after an extraordinary move by US financial regulators to restore…
Continue ReadingChinese companies and founders rush to calm investors after SVB collapse
By Laura He, CNN The collapse of Silicon Valley Bank (SVB), which courted Chinese start-ups, has caused widespread concern in China, where a string…
Continue ReadingCNBC’s Andrew Ross Sorkin says covering the SVB meltdown is like ‘walking a tight rope’
By Oliver Darcy, CNN Andrew Ross Sorkin woke up early Monday morning, long before the crack of dawn, after managing to sneak in a handful of hours of…
Continue ReadingUS regulators say SVB customers will be made whole as second bank fails
By David Goldman, CNN In an extraordinary action to restore confidence in America’s banking system, the Biden administration on Sunday…
Continue ReadingWhat’s the next Silicon Valley Bank — and how can the US prevent more chaos?
By David Goldman, CNN Silicon Valley Bank failed in rapid, stunning fashion Friday. This week, the tech and banking sector are growing skittish about…
Continue ReadingSVB employees received bonuses hours before bank shutdown, reports say
By Ramishah Maruf, CNN The US Federal Deposit Insurance Corporation offered Silicon Valley Bank employees 45 days of employment and 1.5 times their…
Continue ReadingUS banks sitting on unrealized losses of $620 billion
By Nicole Goodkind, CNN Silicon Valley Bank’s collapse last week sent tingles of panic down investors’ spines as it highlighted a larger…
Continue ReadingNorfolk Southern balks at compensating homeowners in East Palestine
By Anna Bahney and Chris Isidore, CNN Jim Stewart was getting ready to sell his home in East Palestine, Ohio, and retire. Then came the derailment of…
Continue ReadingBTS agency HYBE ends takeover battle for K-pop pioneer SM Entertainment
By Juliana Liu and Gawon Bae, CNN BTS agency HYBE says it has called off a takeover bid for SM Entertainment, ending weeks of corporate mudslinging…
Continue ReadingSVB employees received bonuses hours before bank shutdown, reports say
By Ramishah Maruf, CNN The US Federal Deposit Insurance Corporation offered Silicon Valley Bank employees 45 days of employment and 1.5 times their…
Continue ReadingStablecoin USDC breaks dollar peg after revealing $3.3 billion Silicon Valley Bank exposure
Reuters Stablecoin USD Coin (USDC) lost its dollar peg and slumped to an all-time low on Saturday after Circle, the US firm behind the coin, revealed…
Continue ReadingUS banks sitting on unrealized losses of $620 billion
By Nicole Goodkind, CNN Silicon Valley Bank’s collapse last week sent tingles of panic down investors’ spines as it highlighted a larger…
Continue ReadingHow does a bank collapse in 48 hours? A timeline of the SVB fall
By Ramishah Maruf and Allison Morrow, CNN This week, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and…
Continue ReadingTakeaways from the February jobs report
By Alicia Wallace, CNN February’s jobs report had a little something for everyone. For workers, there were jobs; for employers, there were…
Continue ReadingTakeaways from America’s second-largest bank failure
By Ramishah Maruf, CNN Silicon Valley Bank’s 48-hour collapse led to the second-largest failure of a financial institution in US history. SVB…
Continue ReadingThese companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds
By Ramishah Maruf, CNN Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken…
Continue ReadingPickleball is America’s fastest-growing sport. These people hate it
By Nathaniel Meyersohn, CNN Pop. Pop. Pop. Pop. The sound and disruption from pickleball, America’s fastest-growing sport, is driving some…
Continue ReadingTakeaways from America’s second-largest bank failure
By Ramishah Maruf, CNN Silicon Valley Bank’s 48-hour collapse led to the second-largest failure of a financial institution in US history. SVB…
Continue ReadingAsia’s richest man to relaunch iconic 1970s Indian soda that once rivaled Coca-Cola
By Rhea Mogul, CNN Asia’s richest man, Mukesh Ambani, has announced plans to relaunch an iconic 1970s soda brand that once rivaled Coca-Cola…
Continue ReadingThese companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds
By Ramishah Maruf, CNN Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken…
Continue ReadingCamp toy store pleads for help after Silicon Valley Bank collapse
By Nathaniel Meyersohn, CNN A toy company based in New York has gotten caught up in the collapse of Silicon Valley Bank and is pleading with…
Continue ReadingCamp toy store pleads for help after Silicon Valley Bank collapse
By Nathaniel Meyersohn, CNN A toy company based in New York has gotten caught up in the collapse of Silicon Valley Bank and is pleading with…
Continue ReadingJudge concerned Sam Bankman-Fried is too ‘technologically savvy,’ could find a way around tech restrictions
By Lauren del Valle, CNN United States District Judge Lewis Kaplan indicated at a hearing Friday he might modify FTX founder Sam…
Continue ReadingAdidas has received over 500 offers for massive unsold Yeezy merchandise
By Parija Kavilanz, CNN Adidas has received hundreds of offers for the mountain of unsold Yeezy shoes designed by Ye, the artist formerly known as…
Continue ReadingThis nostalgic childhood drink is now a boozy beverage
By Jordan Valinsky, CNN Business SunnyD, the flavorful orange drink chugged from childhood by millennials, is embracing one of its more collegial…
Continue ReadingSilicon Valley Bank collapses after failing to raise capital
By Allison Morrow and Matt Egan, CNN Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis…
Continue ReadingThe Fed wants to limit wage growth. That’s particularly bad for women
By Nicole Goodkind, CNN The US labor market is remarkably strong — unemployment is sitting at five-decade lows even as the Federal Reserve does all…
Continue ReadingGlobal markets sink after sharp selloff in US bank stocks
By Anna Cooban and Laura He, CNN Markets in Europe and Asia tumbled Friday following a sharp selloff in banking stocks in the United States as a…
Continue ReadingThe US economy added 311,000 jobs in February, outpacing expectations
By Alicia Wallace, CNN The US economy added 311,000 jobs in February, according to the latest monthly employment snapshot from the Bureau of Labor…
Continue ReadingLondon fears for its future as companies defect to Wall Street
By Hanna Ziady, CNN London is used to punching well above its weight in global financial markets. For years, the London Stock Exchange attracted an…
Continue ReadingDisney boss Bob Iger talks about the future of Marvel, ‘Star Wars,’ ESPN, and Hulu
By Oliver Darcy, CNN Bob Iger’s vision for Disney is coming into greater focus. In his appearance at Morgan Stanley’s annual Technology,…
Continue ReadingMore than 3.2 million Calico Critters toys recalled after deaths of two children
By Parija Kavilanz, CNN More than 3.2 million Calico Critters toys that were sold in a set with a baby bottle and pacifier accessories are being…
Continue ReadingUnder legal threat from GOP lawmakers, Mastercard and Visa pause plan to track gun sales
By Nathaniel Meyersohn and Matt Egan, CNN Visa, Mastercard and Discover announced they will pause a plan to implement a new merchant category code…
Continue ReadingMarkets close sharply lower as bank stocks take a beating
By Nicole Goodkind, CNN Fear overtook Wall Street Thursday after SVB Financial Group, a bank that lends primarily to tech companies, told investors…
Continue ReadingFox CEO Lachlan Murdoch dismisses $1.6 billion defamation case revelations as ‘noise’
By Oliver Darcy, CNN Fox Corporation CEO Lachlan Murdoch on Thursday dismissed the revelations from Dominion Voting Systems’ $1.6 billion…
Continue ReadingRussia could weaponize metal exports next, Citi warns
By Julia Horowitz, CNN Russia has restricted exports of natural gas to Europe and announced it will temporarily slash oil output this month in…
Continue ReadingRussia could weaponize metal exports next, Citi warns
By Julia Horowitz, CNN Russia has restricted exports of natural gas to Europe and announced it will temporarily slash oil output this month in…
Continue ReadingThe US economy added 311,000 jobs in February, outpacing expectations
By Alicia Wallace, CNN The US economy added 311,000 jobs in February, according to the latest monthly employment snapshot from the Bureau of Labor…
Continue ReadingMortgage rates rise for the fifth-straight week
By Anna Bahney, CNN Mortgage rates edged further toward 7%, rising for the fifth consecutive week, as the Federal Reserve suggests rate increases…
Continue ReadingEurope’s defense industry is booming as governments stand by Ukraine
By Anna Cooban, CNN After months of soaring stock prices, Europe’s defense companies hardly needed another boost. But a tentative €2 billion…
Continue ReadingGM employees are ‘strongly encouraged’ to consider its voluntary separation program
By Jordan Valinsky, CNN Business General Motors said in January it would save $2 billion without planning any layoffs. But on Thursday it said it was…
Continue ReadingFebruary jobs preview: What to expect after January’s blowout report
By Alicia Wallace, CNN January’s jobs report delivered a heck of a surprise when it showed the US economy had added more than half a million…
Continue ReadingNow even the ‘smart money’ traders are using Reddit for stock tips
By Nicole Goodkind, CNN Reddit investors have been the butt of many jokes over the last few years, but could these much-maligned meme traders have…
Continue ReadingFederal safety regulator probing fatal Tesla crash
By Reuters The National Highway Traffic Safety Administration on Wednesday said it is opening a new special investigation into a February fatal crash…
Continue ReadingWhite House calls Tucker Carlson ‘shameful’ in extraordinary rebuke
By David Goldman, CNN The White House lashed out at Fox News host Tucker Carlson Wednesday in an extraordinary rebuke of the late-night commentator…
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