Financial stocks fell on Wednesday after the Federal Reserve raised interest rates by an expected quarter point and signaled that it was not too worried that the collapse of several banks this month would reverberate on the rest of the sector and the economy. KBW Nasdaq Commercial Banks Index and SPDR S&P Regional Banking ETF … Read more
Posted: March 20, 2023 3:14 PM ET Risky debt issued by several European banks in response to the 2008 global financial crisis was under heavy pressure in New York trading on Monday after regulators orchestrated a sale from Credit Suisse to UBS, triggering a historic writedown in specialty bonds the process. Debt issued by Barclays … Read more
Discussions, though preliminary, have focused on how the industry could arrange an investment that would increase the bank’s capital, according to people familiar with the matter. Among the options on the table, people said, is investment in the First Republic by the banks themselves. Eleven major banks banded together last week to deposit $30 billion … Read more
Swiss authorities attempted to finalize the deal on Sunday before Asian markets opened for the week. They walked a fine line, having to get the boards of both 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 bank. financial … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Top U.S. banks including JPMorgan Chase & Co. discuss joint rescue of First Republic Bank FRC -25.61% that could include a major injection of capital to prop up the beleaguered lender, people familiar with the matter said. JPMorgan works with Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. will provide a lifeline … Read more
Swiss regulators said they would provide liquidity to Credit Suisse Group HER offering a lifeline to the lender hard hit by concerns over its financial health. Prior to the regulator’s announcement, shares of the Swiss bank had slid 24% to a new low. Its bond prices fell to distressed levels, indicating that investors were pricing … Read more
First Republic Bank was under pressure following the collapse of Silicon Valley Bank. Photo: Devin Blaskovich for The Wall Street Journal Updated March 12, 2023 9:00 PM ET Bank of the First Republic FRC -14.84% said it strengthened its finances with additional funding from the Federal Reserve and JPMorgan Chase JPM 2.54% & What. The … Read more
JPMorgan JPM -0.59% Chase & Co. has sued former executive Jes Staley over his ties to Jeffrey Epstein, identifying Mr Staley as the “powerful financial executive” charged with sexual assault in a lawsuit against the bank. Late last year, an unnamed woman alleged that JPMorgan aided Epstein’s sex trafficking by allowing him to remain a … Read more
Forget the whiz-bang technologies that are supposed to solve climate change. An ancient farming practice that removes carbon from the atmosphere is receiving renewed attention and big business money. Biochar is a black, charcoal-like substance that, when buried underground, sequesters carbon dioxide, the primary greenhouse gas responsible for climate change. It has long been used … Read more
