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.
Baidu shares drop to 8-week lows after company reveals ChatGPT rival
Chinese tech company Baidu gave the public a peek Thursday at what its Chinese-language ChatGPT alternative can do, while warning of its imperfections.
‘The weakest links are cracking’: Investors consider possible Credit Suisse contagion
Even before the shock collapse of two U.S. banks, Credit Suisse had faced a slew of problems, including money laundering charges and spying allegations.
