First Republic drops 70%, leads decline in bank stocks despite government’s backstop of SVB
First Republic Bank led a decline in bank shares Monday that came even after regulators extraordinary actions Sunday evening.
Financial News
Investors implore the government to step in after Silicon Valley Bank failure
Voices from tech and finance are increasingly calling for the federal government to push another bank to take over the failed Silicon Valley Bank.
Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours
As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB’s demise.
European banking stocks sink as Silicon Valley Bank jitters spread
European banking stocks sold off sharply in early trade Friday as a global contagion effect took hold after shares in U.S. bank SVB Financial plunged 60%.
The U.S. imposed semiconductor export controls on China. Now a key EU nation is set to follow suit
The Netherlands — home to critical chip firm ASML — is embroiled in political tensions between the U.S. and China over semiconductor technology.
No exit ramp for Fed’s Powell until he creates a recession, economist says
The U.S. Federal Reserve is likely to hike interest rates to at least 6.5% if the economy does not enter a mid-year recession, according to TS Lombard Chief U.S. Economist …
How China’s shifting growth picture could hit global markets
China’s economy will be forced to recalibrate because of a “fractured” global order, and the new drivers of growth will “disappoint” global markets, according to David Roche.
Meet the woman who invented a whole new subsection of tech set to be worth $1 trillion
Ida Tin coined the term “FemTech” in 2016, which describes all tech that aims to tackle health issues that only, or disproportionately, impact women.
China sets GDP target of ‘around 5%’ for 2023
This year, the Two Sessions is also set to formalize government titles for the new premier, vice premiers and heads of different ministries.
‘Bregret’? Many Brits are suffering from Brexit regret
Almost seven years and four prime ministers since the U.K. voted to leave the European Union, polling suggests public sentiment has turned against Brexit.