Investors flocked to safe-haven assets amid an emergency plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank.Story Published at: March 13, 2023 at 03:00PM
Investors rush into bonds, gold in flight to safety after SVB rescue
Australia to receive nuclear-powered submarines under agreement with U.S., UK
U.S. President Joe Biden, U.K. Prime Minister Rishi Sunak and Australian Prime Minister Anthony Albanese came to the agreement at a meeting in San Diego, Calif.Story Published at: March 13, 2023 at 08:44PM
Pfizer CEO says it will be able to deliver Seagen’s cancer therapy at a scale not seen before with $43 billion deal
Pfizer CEO Albert Bourla said it will deliver Seagen’s cancer therapy to the world at a scale that hasn’t been seen before with its $43 billion acquisition. Story Published at: March 13, 2023 at 05:48PM
Charles Schwab shares drop 11%, but rally off lows as firm defends financial position
Schwab defended its financial position, reiterating that it has plenty of access to liquidity and a low loan-to-deposit ratio.Story Published at: March 13, 2023 at 04:32PM
First Republic tells CNBC the bank isn’t seeing that many depositors leave, JPMorgan funding working
Jim Herbert, First Republic’s executive chairman, told Cramer that the bank was not seeing massive outflows of deposits and was operating as usual.Story Published at: March 13, 2023 at 04:19PM
2-year Treasury yield posts biggest 3-day decline since aftermath of 1987 stock crash
U.S Treasury yields declined on Monday as investors assessed the state of the economy after the collapse of Silicon Valley Bank.Story Published at: March 13, 2023 at 01:58PM
‘A huge relief’: Startups react to Silicon Valley Bank UK’s HSBC rescue deal
“We can look our teams in the eye … and say, not only will we be able to make next payroll but we can continue business as usual,” said one startup founder. Story Published at: March 13, 2023 at 12:48PM
First Republic drops 70%, leads decline in bank stocks despite government’s backstop of SVB
First Republic Bank led a decline in bank shares Monday that came even after regulators extraordinary actions Sunday evening.Story Published at: March 13, 2023 at 11:35AM
Silicon Valley’s ‘greed and avarice’ have ‘finally come home to roost’ in SVB collapse, trader says
“Banking should be boring, a lot like watching paint dry — and any time it’s not, you’ve got a problem,” one investor told CNBC.Story Published at: March 13, 2023 at 11:28AM
Silicon Valley Bank collapse hits startups as far away as China
The Silicon Valley Bank fallout has ripple effects on Chinese startups.Story Published at: March 13, 2023 at 10:53AM