March 14, 2023
“…British chip designer Arm, owned by Japan’s Softbank , announced earlier this month it was seeking to list in the U.S. this year. This is despite an intense lobbying effort from British officials to see the company make its market… Continue Reading…
March 14, 2023
“…There were some concerns that the taxpayer could now be on the hook for covering losses suffered by banks and that questionable management and investments were now being protected by the government. Banks, for example, now can limit accepting losses… Continue Reading…
March 14, 2023
“On Friday, Signature Bank customers spooked by the sudden collapse of Silicon Valley Bank withdrew more than $10 billion in deposits, a board member told CNBC. That run on deposits quickly led to the third-largest bank failure in U.S. history. Regulators announced late Sunday that Signature was being… Continue Reading…
March 14, 2023
“…Regional banks were among the hardest hit as the KBW Regional Banking Index sank 7.7%, its sharpest plunge since June 2020. The rapid selloff came even as the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were… Continue Reading…
March 13, 2023
“The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major… Continue Reading…
March 13, 2023
“Saudi Arabia’s state-controlled oil giant Aramco on Sunday reported a record net income of $161.1 billion for 2022 — the largest annual profit ever achieved by an oil and gas company. Aramco said net income increased 46.5 percent over the… Continue Reading…
March 13, 2023
“New York state regulators on Sunday shut down Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis. “We are also announcing a similar systemic risk exception for Signature Bank, New York, New… Continue Reading…
March 9, 2023
“More consumers are leaning on credit cards to afford increasingly expensive necessities such as food and rent. That helped propel total credit card debt to a record $930.6 billion at the end of 2022, an 18.5% spike from a year… Continue Reading…
March 9, 2023
“But analysts say one catch is that shifting manufacturing to the U.S. will raise the price of chipmaking — and, perhaps, the prices of popular devices that use chips, like smartphones and game consoles…. “The major reason for the cost… Continue Reading…
March 8, 2023
“Recession — and layoff — fears loom large over many households. Nearly half of U.S. adults feel the country is already in a recession, a Morning Consult report found. Economists say the chance of a recession in the next 12… Continue Reading…
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