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Categories Business

UBS buys Credit Suisse for $3.2 billion as regulators look to shore up the global banking system

Author March 20, 2023

UBS agreed to buy its embattled rival Credit Suisse for 3 billion Swiss francs ($3.2 billion) Sunday, with Swiss regulators playing a key part in

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Categories Business

The uncommon lending practices behind Silicon Valley Bank’s woes

Author March 19, 2023

The full picture of why Silicon Valley Bank failed so spectacularly and so fast has not yet come into focus. But uncommon

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Categories Business

Black founders who banked with SVB fear backsliding on hard-won gains

Author March 18, 2023

Silicon Valley Bank’s collapse has sent entrepreneurs scrambling to address concerns few ever thought they’d have to worry about. For some Black

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Categories Business

Wall Street rides to the rescue as 11 banks pledge $30 billion to First Republic Bank

Author March 17, 2023

A group of financial institutions has agreed to deposit $30 billion in First Republic Bank in what’s meant to be a sign of

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Categories Business

Credit Suisse to borrow up to nearly $54 billion from Swiss National Bank

Author March 17, 2023

Credit Suisse announced it will be borrowing up to 50 billion Swiss francs, about $53.68 billion, from the Swiss National Bank under a

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Categories Business

Former Wells Fargo executive to plead guilty to charge in sales scandal

Author March 17, 2023

WASHINGTON — The former head of Wells Fargo’s retail bank is facing prison time after agreeing to plead guilty to obstructing a bank

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Categories Business

Buttigieg says the U.S. should heed ‘warning signs’ to avoid a ‘catastrophic event’ in the skies

Author March 17, 2023

U.S. Transportation Secretary Pete Buttigieg said Wednesday that the country’s air system was skirting disaster in the wake of multiple near-miss aviation

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Categories Business

Swiss regulator offers lifeline to Credit Suisse after its troubles rattle global markets

Author March 16, 2023

Swiss regulators stepped in to reassure global financial markets after fresh fears about the viability of Credit Suisse threatened wider fallout just

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Categories Business

Moody’s cuts outlook on U.S. banking system to negative from stable

Author March 15, 2023

In a harsh blow to an already-reeling sector, Moody’s Investors Service on Monday cut its view on the entire banking system to

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Categories Business

Silicon Valley Bank quietly laid off employees as tech firms in its backyard also slashed jobs

Author March 15, 2023

Months before it became the second-largest bank in U.S. history to fail, Silicon Valley Bank quietly laid off 100 to 120 employees,

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