First Republic most likely headed for FDIC receivership, sources say; shares drop 30%
The stock has fallen more than 90% this year as investors have lost confidence in the bank after two regional lenders failed in March.
Financial News
China’s top leaders say the economy doesn’t have enough ‘internal’ drive
China’s top leaders said at a regular meeting Friday that domestic demand is still insufficient, according to state media.
OPEC says IEA should be ‘very careful’ about discouraging oil investments
Oil producer group OPEC on Thursday lashed out at the IEA, saying the energy agency should be “very careful” about undermining industry investments.
Britain blocks Microsoft’s $69 billion acquisition of Activision Blizzard
Britain’s top competition regulator on Wednesday moved to block Microsoft’s acquisition of video game publisher Activision Blizzard.
No ‘immediate path forward’: CFTC is talking to Binance after launching legal action, official says
The CFTC sued Binance, its CEO Changpeng Zhao and its former chief compliance officer last month.
Luxury goods giant LVMH becomes the first European company to surpass $500 billion in market value
Luxury goods giant LVMH on Monday became the first European company to surpass $500 billion in market value.
Alphabet CEO Sundar Pichai’s compensation topped $200 million in 2022
Alphabet CEO Sundar Pichai received $226 million in total pay in 2022. Pichai was awarded over $200 million through a triennial stock plan.
How A.I.-powered robots are changing retail
An army of inventory robots is being deployed to help retailers appease angry customers, boost sales and respond to the ongoing worker shortage.
A recession is coming — and stock markets won’t come through it unscathed, strategist says
The latest U.S. economic data suggests a recession is coming, according to the chief executive of financial advisory firm Longview Economics.
Veteran investor David Roche says a credit crunch is coming for ‘small-town America’
The banking turmoil of March, when several U.S. lenders collapsed, will lead to a credit crunch for “small-town America,” veteran strategist David Roche says.