OTTAWA, March 24 (Reuters) – President Joe Biden said on Friday that federal deposit insurance could be tapped for deposits over $250,000 if other US banks fail, expressing confidence that medium-sized US banks would ease industry tensions. to survive. Biden said U.S. banks are in “quite” good shape, people’s savings were safe and he didn’t … Read more
March 24 (Reuters) – Rivian Automotive Inc (RIVN.O) is moving parts of its manufacturing engineering team to Illinois to speed up production, the Wall Street Journal reported on Friday, citing a person familiar with the matter. The reorganization, which is expected to be announced soon, would mean those working on manufacturing engineering would be asked … Read more
NEW YORK, March 23 (Reuters) – Citizens Financial Group Inc (CFG.N) is preparing a bid to acquire the private banking business of bankrupt Silicon Valley Bank, two people familiar with the matter said Thursday. Citizens, one of the largest regional banks in the US, is preparing to bid for the auction of the company, which … Read more
Drug meets primary and all secondary goals in COPD research Earlier peak sales estimate of 13 billion euros was without COPD Drug could be the first new COPD treatment in more than a decade March 23 (Reuters) – Sanofi’s (SASY.PA) asthma drug Dupixent met all targets in a trial for the treatment of “smoker’s lung”, … Read more
March 23 (Reuters) – The Bank of England followed the Federal Reserve and Swiss National Bank in raising interest rates on Thursday as policymakers continued their battle against inflation in the face of the instability that rippled through the global banking system this month . Investors had wondered whether central banks could continue tightening policies … Read more
March 23 (Reuters) – Hindenburg Research announced short positions in Block Inc (SQ.N) on Thursday, claiming the Jack Dorsey-led payments company overstated its user numbers and underestimated its customer acquisition costs. Shares of Block fell 20% to $57.85 in premarket trading following the report. If losses continue through the session, the stock could post its … Read more
ZURICH, March 22 (Reuters) – The fall of Credit Suisse (CSGN.S) has seriously damaged Switzerland’s credibility as the world’s leading wealth management center, experts warn, damaging Switzerland’s reputation for stability, regulation and corporate governance is questioned. Plagued by years of scandals and losses, Credit Suisse had been battling a crisis of confidence for months before … Read more
March 22 (Reuters) – Jane Fraser, CEO of Citigroup Inc (CN), expressed confidence in US banks on Wednesday after a series of closures upset investors and fueled turmoil in global financial markets. “The banking system is pretty healthy,” and major and regional banks are well capitalized, Fraser told the Economic Club of Washington DC on … Read more
March 22 (Reuters) – The US Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange’s products, straining the largely unregulated sector to stand. Shares of Coinbase fell nearly 13% to $67.33 in extended trading after the company said Wednesday that the regulator had issued it … Read more
March 22 (Reuters) – Meme shares GameStop Corp (GME.N) rose nearly 41% on Wednesday as the video game retailer’s first profitable quarter in two years pressured bearish investors and sparked a rally in other popular stocks at retailers. GameStop, AMC Entertainment Holdings Inc (AMC.N), and several other names were at the heart of a meme … Read more
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