On Friday, Signature Bank customers spooked by the sudden collapse of Silicon Valley Bank withdrew more than $10 billion in deposits, a board member told CNBC. That run on deposits quickly led to the third-largest bank failure in U.S. history. Regulators announced late…
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Business
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Federal regulators stepped in Sunday to back all Silicon Valley Bank deposits, resolving a key uncertainty surrounding the second-largest bank failure in U.S. history hours before global stock markets resumed trading. The U.S. Treasury, the…
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The tech community is still reeling from the abrupt collapse of Silicon Valley Bank, the industry’s one-time financial engine that flamed out last Friday in the second-largest bank failure in U.S. history. Small businesses and…
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Shares of U.S. regional banks slumped on Monday, led by sharp losses in First Republic Bank as news of fresh financing failed to assuage fears of possible bank contagion following the collapse of SVB Financial Group…
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Etsy has begun processing payments to some of the sellers on its platform who were impacted by the collapse of Silicon Valley Bank, the tech company said Monday. ‘Approximately 0.5% of our active seller base…
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Business
Silicon Valley Bank depositors will have access to ‘all of their money,’ regulators say in effort to stem wider fallout
Federal regulators stepped in Sunday to back all Silicon Valley Bank deposits, resolving a key uncertainty surrounding the second-largest bank failure in U.S. history hours before global stock markets resume trading. The U.S. Treasury, the…
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Business
Silcon Valley Bank’s tech failings were a problem long before the run that led to its demise, critics say
Silicon Valley Bank’s historic meltdown last week was largely attributed to deteriorating business conditions in the firm’s concentrated customer base and an ill-timed decision to invest billions of dollars in mortgage-backed securities. But long-time clients and others with…
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As reports of near-miss incidents at U.S. airports pile up early into 2023, the Federal Aviation Administration is set to hold a summit next week to assess safety risks for travelers. FAA Acting Administrator Billy…
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Etsy is warning sellers that the collapse of Silicon Valley Bank on Friday is causing delays in processing payments, according to an email from the company shared with NBC News. The online do-it-yourself goods mega…
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Business
U.S. economy added 311,000 jobs in February, exceeding expectations as jobs growth stays hot
Job creation decelerated in February but was still stronger than expected despite Federal Reserve efforts to slow the economy and bring down inflation. Nonfarm payrolls rose by 311,000 for the month, the Labor Department reported…