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
Investors feared the fastest interest rate increases in decades meant something in the economy could snap. Last week it was. Now investors are wondering: what else could crack? Silicon Valley Bank was shut down on Friday after being hit by a run on its deposits, the second-largest bank failure in US history. The fallout rocked … Read more
Posted: February 23, 2023 12:47 PM ET Netflix Inc. NFLX is slashing the price of its subscription service in more than 30 countries as the company cracks down on password sharing. These Netflix subscription price cuts are happening in countries like Yemen, Jordan, Libya, Iran, Kenya, Slovenia, Bulgaria, Nicaragua, Ecuador and others, according to a … Read more
Ozy Media and chief executive Carlos Watson have been charged with lying to investors and lenders about the company’s audience size and other aspects of its business, a crippling blow for a once-promising startup that benefited the early support of major brand advertisers and venture capital specialists. Mr Watson was arrested at a Manhattan hotel … Read more
