Silicon Valley Bank’s failure last month stemmed from weakened regulations during the Trump administration and mis-steps by internal supervisors who were too slow to correct management blunders, the US Federal Reserve said in a scathing review of the lender’s implosion. The long-awaited report, released on Friday, had harsh words for the California bank’s management but
POLAND – 2023/03/21: In this photo illustration, a First Republic Bank logo is displayed on a smartphone with stock market percentages in the background. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. First Republic — Shares of the
Polygon Labs and Google Cloud announced a multi-year partnership at Consensus 2023 that will see the cloud computing service provider help boost the development of the Ethereum (ETH) scaling protocol’s tools and infrastructure. Polygon’s core protocols, including Polygon PoS (proof-of-stake), Polygon zkEVM and Polygon Supernets, are set to benefit from the provision of Google Cloud’s
A California appellate court Thursday resurrected a lawsuit accusing prominent Wall Street banks of conspiring to manipulate the variable-rate debt market. The 1st District Court of Appeal reversed a lower court ruling less than two days after hearing arguments in the case, which dates back nearly 10 years. It’s the latest turn in a series
According to unnamed sources, the home of Ryan Salame, the former co-chief executive of FTX Digital Markets, was searched by the U.S. Federal Bureau of Investigation (FBI) on Thursday. The grounds for the raid remain unknown, and neither Salame nor his legal representative have offered any statement concerning the situation. FBI Conducts Mysterious Search on
Richard Sharp has been forced to resign as BBC chair after an investigation found that he breached the rules after failing to declare a role in the loan guarantee made to Boris Johnson before his appointment. Sharp has been under increasing pressure after an investigation was launched by Adam Heppinstall KC into whether he had
In this article FSLR SNAP INTC AMZN Follow your favorite stocksCREATE FREE ACCOUNT A robot prepares to pick up a tote containing product at the Amazon Robotics fulfillment center on April 12, 2019 in Orlando, Florida. Nurphoto | Nurphoto | Getty Images Check out the companies making headlines after hours. Amazon – Amazon jumped 7%
Singapore-based online property portal PropertyGuru maintains a “conservative outlook in 2023” amid challenges, and expects full year 2023 revenue of between 160 million Singapore dollars and SG$170 million and adjusted EBITDA of between SG$11 million and SG$15 million. Wei Leng Tay | Bloomberg | Getty Images SINGAPORE — Singapore is raising taxes for property purchases
Solana (SOL) users will soon be able to interact with the network through an open-source plugin enabled on OpenAI’s artificial intelligence (AI) chatbot ChatGPT. The plugin will allow ChatGPT to check wallet balances, transfer Solana-native tokens and purchase nonfungible tokens (NFTs) when OpenAI makes plugins available, according to an April 25 tweet by Solana Labs,
Changpeng “CZ” Zhao, CEO of major cryptocurrency exchange Binance, claims to hold a way less net worth than reported by some mainstream media. Binance CEO took to Twitter on April 27 to tell its followers that Bloomberg’s latest finance rich list has some inaccurate information regarding his wealth. According to Bloomberg’s rich list, CZ is
Visitors take photos in front of the Meta (Facebook) sign at its headquarters in Menlo Park, California, on December 29, 2022. Tayfun Coskun | Anadolu Agency | Getty Images Check out the companies making headlines in extended trading. Meta Platforms — The Facebook parent popped 9% after announcing better-than-expected top-line results. Meta posted $28.65 billion
Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The recent softening in house prices may be helping homebuyers swallow higher mortgage rates. Despite a rise in rates last week, demand for mortgages rebounded. Total mortgage application volume rose 3.7% last week
A bill prohibiting the use of environment, social, and governance criteria for government investments and contracts in Kansas became law this week without the signature of the governor, who raised concerns about the measure. Citing “reservations about the potential unforeseen consequences of House Bill 2100 for the state and for local governments,” Democratic Gov. Laura
Bitcoin was back above $29,000 on Wednesday, as markets continued to react to concerns over First Republic Bank. It was reported that customers withdrew around $100 billion in deposits from First Republic in March. Ethereum was also higher on the news, climbing back above $1,900. Bitcoin Bitcoin (BTC) rebounded strongly on Wednesday, as markets reacted
As Congress and the White House engage in political brinkmanship over the debt ceiling debate, state governments are already bracing for a stoppage of federal funding and warning of the consequences of a failure to reach an agreement soon. “Without the borrowing authority to sell bonds, the federal government simply wouldn’t have any funds to
The US is significantly stepping up its commitment to use its nuclear arsenal to defend South Korea, as it seeks to reassure Seoul about the strength of their alliance in the face of threats from North Korea. President Joe Biden and his South Korean counterpart Yoon Suk Yeol are set to announce on Wednesday that
In this article ENPH V GOOGL CMG PACW MSFT Follow your favorite stocksCREATE FREE ACCOUNT 3,760 Enphase microinverters will power the drying and storage of more than 50,000 tons of California rice at Strain Ranch in Arbuckle, Calif., Tuesday, Feb. 19, 2013. Alison Yin | AP Check out the companies making headlines in extended trading.
The price of Ethereum’s Ether (ETH) token has retreated from its recovery trend versus Bitcoin (BTC) while making a series of lower highs in April. ETH price risks more losses vs. Bitcoin As of April 24, the ETH/BTC pair was down about 5.5% from its local high of 0.0709 BTC six days ago. The same
Covid turned many Americans into homebodies, according to the Research Institute for Cooking and Kitchen Intelligence. In its recently released “RICKI 2022 Changes Driven by the Pandemic” survey sent to more than 1,000 homeowners, the research consultancy sought to learn how respondents’ pandemic experiences impacted their relationships with their homes, especially in the kitchen, what
The Illinois State Toll Highway Authority heads into the market this week with $500 million of new money debt that leaves just another $1.5 billion of borrowing still to come for its$14.8 billion capital program. The fixed-rate bonds will sell Wednesday, according to tollway officials. Proceeds will fund upgrades and expansion projects in the Move