A general view of Cosmic Girl, a converted Boeing 747 carrying the LauncherOne rocket under its left wing, as final preparations are made at Cornwall Newquay Airport on January 9, 2023 in Newquay, United Kingdom. Matthew Horwood | Getty Images Virgin Orbit is in final talks to raise funds from Texas-based investor Matthew Brown, two … Read more
Stocks were flat on Wednesday as Wall Street braced for the Federal Reserve’s first potential rate hike since the recent fallout in the banking sector. THE Dow Jones Industrial Average fell 22 points, or 0.07%. THE S&P500 fell by 0.10%, while Nasdaq Compound fell by 0.07%. The major averages posted solid gains in the previous … Read more
The Fed should raise its key rate. Google launches its AI product Bard for testing. Nike sees momentum in China after Covid-induced crisis. Here are the most important information investors need to start their trading day: Decision day has arrived. Will the Federal Reserve raise its benchmark rate by another quarter point, as has long … Read more
First Republic Bank worked overtime on Sunday to reassure customers it was safe to operate after the collapse of Silicon Valley Bank last week sparked fears of contagion in the banking sector. But its stock plunged nearly 50% ahead of Monday’s open despite attempts to reassure customers of the strength of its business. Early Sunday … Read more
Billionaire investor Bill Ackman said the US government’s intervention to protect depositors after the Silicon Valley Bank implosion is “not a bailout” and is helping to restore confidence in the banking system. In a tweet, the Pershing Square CEO said Monday’s SVB fallout indicated the government had done the “right thing”. But not all Wall … Read more
The River Mersey and the city of Liverpool. Ingus Kruklite / Eyeem | eyes | Getty Images The iconic River Mersey could soon play a major role in the UK’s sustainable future. Authorities in Liverpool want the river to be home to a huge tidal power project which they say could power up to 1 … Read more
The Silicon Valley Bank (SVB) logo is visible through a rain-covered window. Justin Sullivan | Getty Images News | Getty Images LONDON — HSBC on Monday announced a deal to buy the UK subsidiary of US tech startup lender Silicon Valley Bank, which collapsed on Friday. HSBC has confirmed that its bounded UK subsidiary, HSBC … Read more
“In light of the strains in the banking system, we no longer expect the FOMC to raise rates at its next meeting on March 22,” Goldman economist Jan Hatzius said in a note. Sunday. The firm expects the latest measures to “provide substantial liquidity to banks facing deposit outflows” and bolster depositor confidence. Goldman Sachs … Read more
A man entering Signature Bank in New York on March 12, 2023. Reuters Two of the most crypto-friendly banks and the biggest bank for tech startups all failed in less than a week. As cryptocurrency prices rallied late on Sunday after the federal government stepped in to provide a safety net for depositors at two … Read more
Silvergate and Signature were the two main banks for crypto companies, while Silicon Valley Bank had many crypto startups and VCs as customers. The failure of the crypto banking trifecta rippled through the stablecoin market over the weekend. On Sunday evening, when the feds stepped in to secure deposits at Signature and SVB, cryptocurrencies rallied … Read more
