GOP presidential contenders cast blame for Silicon Valley Bank collapse
While Trump slammed Biden and Democrats, Florida Gov. Ron DeSantis suggested that diversity, equity and inclusion initiatives were to blame for SVB’s failure.
First Republic tells CNBC the bank isn’t seeing that many depositors leave, JPMorgan funding working
Jim Herbert, First Republic’s executive chairman, told Cramer that the bank was not seeing massive outflows of deposits and was operating as usual.
‘That’s how capitalism works,’ Biden says of SVB, Signature Bank investors who lost money in failed banks
“Investors in the banks will not be protected,” Biden said. “They knowingly took a risk and when the risk didn’t pay off, the investors lose their money.”
Biden Interior approves controversial Alaska oil drilling project
The $8 billion Willow project in Alaska, led by the state’s largest crude oil producer, would produce about 600 million barrels of oil over 30 years.
Biden administration urges Congress to ban airlines from charging families to sit together
The Biden administration has taken aim at add-on fees across the travel and entertainment industries.
Davidson upgrades PacWest shares to buy as bank stock continues to crater another 37%
Citing the 54% decline in PacWest’s stock on Thursday and Friday, Davidson upgraded shares to buy from neutral, while lowering its price target.
ChatGPT and generative AI are booming, but the costs can be extraordinary
It can cost millions of dollars to train and operate generative AI technologies like ChatGPT, which are being subsidized by tech companies and VCs.
Citi says it’s time to buy PNC shares after Silicon Valley Bank fallout
The recent pullback in PNC shares has created an attractive entry point, according to Citi, which upgraded shares to buy from hold.
Citi upgrades Charles Schwab, says recent selloff opens a promising entry point
Citi analyst Christopher Allen says that the recent sell-off in Charles Schwab shares presents a compelling entry point for investors.
