SVB Financial Group’s announcement that it needed to sell billions of dollars of assets to make its customers whole continued to send Wall Street into panic mode.Story Published at: March 10, 2023 at 03:23PM
Bank run fear: SVB plunges again, leading to calls for a bailout
The Fed wants to limit wage growth. That’s particularly bad for women
The US labor market is remarkably strong — unemployment is sitting at five-decade lows even as the Federal Reserve does all it can to cool the economy in its fight against inflation. Wage growth is also increasing as demand for labor outpaces supply. Story Published at: March 10, 2023 at 12:32PM
Global markets sink after sharp selloff in US bank stocks
Markets in Europe and Asia tumbled Friday following a sharp selloff in banking stocks in the United States as a major tech lender said it had to sell shares to plug a hole in its finances. Story Published at: March 10, 2023 at 02:22PM
Bank of Japan keeps low rates as Kuroda sticks to script at swan song meeting
The Bank of Japan (BOJ) maintained ultra-low interest rates on Friday and held off making changes to its controversial bond yield control policy, leaving options open ahead of a leadership transition in April.Story Published at: March 10, 2023 at 05:35AM
UN reveals plan to salvage oil from stricken supertanker
The United Nations has released a plan to offload 1 million barrels of oil off a rusting supertanker that has been moored off the coast of Yemen for more than 30 years.Story Published at: March 10, 2023 at 01:51PM
Judge under fire for ordering breastfeeding mother to leave courtroom
An Australian judge has been widely criticized for asking a breastfeeding mother to leave a public gallery in his courtroom and then defending his decision as “self-explanatory.”Story Published at: March 10, 2023 at 12:57PM
Georgia’s parliament formally revokes ‘foreign influence’ bill that sparked major protests
Georgia’s parliament on Friday formally revoked a “foreign influence” bill that sparked major protests this week and an international outcry, after critics said the proposed legislation resembled similar Russian laws used to crack down on political dissent. according to the country’s public broadcaster First Channel.Story Published at: March 10, 2023 at 09:22AM
Xi Jinping’s norm-busting third term as China’s president rubber stamped
Xi Jinping’s unprecedented third term as China’s president was officially rubber stamped by the country’s political elite on Friday, solidifying his control and making him the longest-serving head of state of Communist China since its founding in 1949.Story Published at: March 10, 2023 at 04:09AM
British coach suspended for using ‘industrial language,’ mocking people with disabilities
British high jump coach Fayaaz “Fuzz” Caan has been handed a three-year suspension following a UK Athletics (UKA) disciplinary investigation into his conduct, the sport’s national governing body has announced.Story Published at: March 09, 2023 at 06:56PM
Four Americans kidnapped in Mexico were found in days. More than 100,000 people in the country remain missing
As the American survivors of last week’s bloody kidnapping in Matamoros receive medical treatment, and the bodies of those killed are repatriated, Mexico’s broader epidemic of disappearances remains largely unsolved: More than 100,000 Mexicans and migrants have disappeared, with no explanation of their fate for families. Story Published at: March 09, 2023 at 07:34PM