Dow closes more than 250 points lower Wednesday as bank crisis spreads to Europe: Live updates
The Dow Jones Industrial Average fell Wednesday as concern over a banking crisis spreading to Europe pressured the broader market.
CNBC Daily Open: Regional banks rise, and everyone takes a breath
Regional banks rebounded, pointing to resilience in the banking sector. Annual inflation in February was 6%, in line with estimates.
Cathay’s CEO wants to turn the airline back to profitability, but faces manpower constraints
Cathay Pacific hopes to be profitable again in 2023, but returning to its pre-pandemic capacity is going to be a challenge, its CEO told CNBC.
Oakmark’s Bill Nygren sees an opportunity in bank stocks amid sector turmoil
The portfolio manager said “the consistent message we hear is that customers are behaving as they normally would. It’s business as usual.”
SVB execs sold $84 million in stock over the past 2 years, stoking outrage over insider trading plans
Altogether, Silicon Valley Bank executives and directors cashed out of $84 million worth of stock over the past two years, according to Smart Insider.
Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans
Private equity firms Apollo Global Management and KKR are among the parties reviewing a book of loans held by Silicon Valley Bank, CNBC has learned.
Carl Icahn says our economy is breaking because of inflation and poor corporate leadership
Famed activist and raider Carl Icahn believes the U.S. economy is in trouble because of poor corporate leadership and stubbornly high inflation.
Harvard career expert: The No. 1 ‘desirable skill’ that very few people have—especially men
Career success isn’t just about individual accomplishments, says Harvard professor and business expert Heidi K. Gardner. Based on 10 years of research, she says collaboration skills are the most rare and often overlooked. Here’s how to get better at it.
Charles Schwab CEO says firm is seeing significant inflows and that he bought the stock Tuesday
“What we’re seeing is asset inflows to the firm in significant numbers,” Bettinger told CNBC.
SVB’s new CEO urges clients to ‘help us rebuild our deposit base’
Tim Mayopoulos, who was appointed by regulators to run SVB, sent an email to clients on Tuesday telling them the bank is in business and wants their deposits.
