Bank of the First Republic FRC 29.47% bolsters its advisory ranks as the troubled lender seeks to stay afloat and plan for a post-crisis future amid a transatlantic crisis of confidence in the banking system. The California bank this week typed Lazard ltd. LAZ 3.23% to assist in the review of strategic options which could … 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
As of 4 p.m. ET, the Dow Jones Industrial Average added about 380 points, or 1.2%, and the S&P 500 rose 0.9%. The technology-focused Nasdaq Composite climbed 0.4%. The indices fell on Friday but have been relatively insulated from the banking crisis so far. Authorities sought to stem a dangerous decline in confidence in the … Read more
Amazon.co.uk Inc. said it would cut 9,000 more jobs from the companies, including its profitable cloud computing and advertising businesses, a sign that the company’s cost-cutting is spreading to all aspects of its operations as tech giants continue to cut spending. Chief Executive Andy Jassy said in a statement that the company had recruited a … Read more
WASHINGTON — The Federal Reserve raised concerns about risk management at Silicon Valley Bank at least four years before its failure earlier this month, documents show. In January 2019, the Fed issued a warning to SVB SIVB -60.41% on its risk management systems, according to a presentation released last year to employees of SVB’s venture … 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
In Russia from Monday to Wednesday, Chinese leader Xi Jinping will strengthen ties with an increasingly dependent on Beijing but also unpredictable partner. Russia is becoming increasingly dependent on China to buy its natural gas and keep its economy afloat in the face of Western sanctions. But Mr. Xi’s influence over Russian President Vladimir Putin … Read more
Two months ago, Virgin Orbit VORB by Richard Branson -9.14% Holdings Inc. was set to make history by delivering the first satellites into orbit from the billionaire’s home country of the UK This high-profile launch from Cornwall, England, went wrong, ending with the destruction of its satellite payload and triggering an investigation into what went … Read more
WASHINGTON — The United States is trying to sidestep a potential proposal from Beijing for a ceasefire in Ukraine ahead of a Russia-China summit, saying suspending fighting now would help strengthen Russia’s grip on the territory. Ukrainian. With Chinese leader Xi Jinping due to meet Russian President Vladimir Putin in Moscow next week, the White … Read more
PARIS—French President Emmanuel Macron faced a second straight day of violent protests as opposition lawmakers called for no-confidence votes early next week aimed at toppling his government and killing his redesign of the French pension system. A group of centrist lawmakers opposed to Mr Macron tabled a motion of no confidence on Friday with the … Read more