(Reuters) – Pacific Western Bank, a unit of PacWest Bankcorp, said on Friday it had witnessed ‘elevated’ withdrawals following the collapses of Silicon Valley Bank and Signature Bank[...]
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March 18, 2023
Credit Suisse faces crucial weekend with its future in balance
By Stefania Spezzati and Oliver Hirt (Reuters) – Credit Suisse Group AG headed into a make-or-break weekend after some rivals grew cautious in their dealings with the struggling Swiss lender, an[...]
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Huawei has replaced thousands of U.S.-banned parts in its products, founder says
By Stephen Nellis and Krystal Hu (Reuters) -Huawei Technologies Co Ltd has replaced more than 13,000 parts in its products that were hit by U.S. trade sanctions, the Chinese tech giant’s founder[...]
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U.S. FDIC weighs backstop on bank auctions to attract smaller peers – source
By Kanjyik Ghosh (Reuters) -U.S. regulators are considering retaining ownership of securities owned by Signature Bank and Silicon Valley Bank to allow smaller banks to participate in auction for the c[...]
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Moody’s downgrades credit ratings on First Republic Bank
(Reuters) – Ratings agency Moody’s on Friday downgraded the credit of First Republic Bank, citing deterioration in the bank’s financial profile and challenges faced by the lender due[...]
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Oil prices settle down, post big weekly losses on bank fears
By Laura Sanicola (Reuters) -Oil prices settled lower Friday, reversing early gains of more than $1 a barrel as banking sector fears caused both benchmarks to reach their biggest weekly declines in mo[...]
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First Republic shares tank almost 33% despite $30 billion support
By Medha Singh and Joice Alves (Reuters) – Shares of First Republic Bank tumbled nearly 33% on Friday, leaving them down more than 80% in the past 10 sessions, despite a rescue package with $30[...]
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Biden says banking crisis has calmed down
By Jeff Mason and Kanishka Singh WASHINGTON (Reuters) -U.S. President Joe Biden said on Friday the banking crisis has calmed down after the recent collapse of Silicon Valley Bank (SVB) and Signature B[...]
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HR startup Rippling raises $500 million in fresh funding after SVB collapse
By Krystal Hu and Niket Nishant (Reuters) -HR and payment software startup Rippling said on Friday it has raised $500 million in a new funding round initially intended to help customers make payroll i[...]
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