Treasury Secretary Janet Yellen sought to reassure markets and lawmakers that the government will protect U.S. bank deposits amid a rash of bank failures. Story Published at: March 16, 2023 at 09:35PM
Treasury Secretary Yellen says not all uninsured deposits will be protected in future bank failures
Here are the world’s best airports for 2023
Singapore’s Changi Airport has been named the “world’s best airport” for a record 12th time.Story Published at: March 16, 2023 at 07:56AM
China would be among first paid under GOP debt limit plan, Treasury Secretary Yellen says
A GOP plan to pay off certain debts to avoid default instead of passing a debt ceiling bill is a “dangerous idea,” said Yellen.Story Published at: March 16, 2023 at 10:15PM
A group of banks are in talks to deposit $30 billion in First Republic, sources say
The news comes after First Republic’s stock has been pummeled in recent days, sparked by the collapse of Silicon Valley Bank and Signature Bank. Story Published at: March 16, 2023 at 06:18PM
European Central Bank raises rates by another 50 basis points despite market turmoil
Some market players questioned whether President Christine Lagarde would proceed with a hike, given recent shocks in the banking sector. Story Published at: March 16, 2023 at 01:17PM
TikTok confirms the U.S. has threatened ban if Chinese parent ByteDance doesn’t sell stake
The U.S. has a number of concerns about TikTok and has maintained the Chinese-owned app presents a national security risk. Story Published at: March 16, 2023 at 12:13PM
Baidu shares drop to 8-week lows after company reveals ChatGPT rival
Chinese tech company Baidu gave the public a peek Thursday at what its Chinese-language ChatGPT alternative can do, while warning of its imperfections.Story Published at: March 16, 2023 at 11:37AM
‘The weakest links are cracking’: Investors consider possible Credit Suisse contagion
Even before the shock collapse of two U.S. banks, Credit Suisse had faced a slew of problems, including money laundering charges and spying allegations.Story Published at: March 16, 2023 at 11:04AM
HSBC bought Silicon Valley Bank UK in record time — here’s how events unfolded
The CEO of HSBC UK said he would not have guessed — just a few days beforehand — that it would be buying Silicon Valley Bank UK.Story Published at: March 16, 2023 at 08:44AM
Saudi National Bank says panic over Credit Suisse is ‘unwarranted’
“It’s panic, a little bit of panic. I believe completely unwarranted, whether it be for Credit Suisse or for the entire market,” he said on CNBC’s “Capital Connection.”Story Published at: March 16, 2023 at 07:02AM