This is why the Federal Reserve could stay the course and raise interest rates again
The market anticipates the Fed will hike rates by 25 basis points next week, but the central bank can reverse course if the financial system is in distress.
The investor who famously shorted Silicon Valley Bank in January on what’s to come in the crisis
Short seller William Martin of Raging Capital believes the crisis should be fairly contained as most of the institutions are not as exposed to the interest rate risk as SVB.
Wall Street rides to the rescue as 11 banks pledge First Republic $30 billion in deposits
The news comes after First Republic’s stock has been pummeled in recent days, sparked by the collapse of Silicon Valley Bank and Signature Bank.
Bank shares rebound off lows as big banks come to the aid of First Republic
The collapse of Silicon Valley Bank last Friday has left investors scrambling to identify other regional banks that have similar balance sheet issues.
French President Macron overrides parliament to pass retirement age bill
French President Emmanuel Macron invoked special constitutional powers to push the bill through.
Cocaine production is at its highest level on record, UN says
Despite continued efforts by law enforcement to crack down on cocaine use, global demand for the drug has only grown.
European Central Bank hikes rates despite market mayhem, pledges support if needed
Some market players questioned whether President Christine Lagarde would proceed with a hike, given recent shocks in the banking sector.
UK bans TikTok on government devices following U.S. move
The United Kingdom on Thursday announced plans to ban the Chinese-owned video app TikTok on government devices.
TikTok confirms the U.S. has threatened ban if Chinese parent ByteDance doesn’t sell stake
The U.S. has a number of concerns about TikTok and has maintained the Chinese-owned app presents a national security risk.
