Mar 29 Credit Suisse violated plea deal with failure to report offshore accounts for clients’ tax evasion, U.S. lawmakers By Jamey Keaten, Courtney Bonnell, Associated Press U.S. lawmakers say Credit Suisse violated a plea agreement by failing to report secret offshore accounts that wealthy Americans used to avoid paying taxes. Continue reading
Mar 29 WATCH: Yellen testifies on Treasury budget in House hearing amid questions about banking system By Associated Press Treasury Secretary Janet Yellen testified on the department's budget Wednesday morning. Continue reading
Mar 29 Why scrutiny of Starbucks’ alleged union violations is boiling over now By Justin Stabley Public scrutiny is brewing for former Starbucks CEO Howard Schultz on Wednesday as he testifies before a Senate committee about the company's alleged anti-union practices. Continue reading
Mar 28 Vice President Harris confronts painful past, envisions future during visit to Africa By Chris Megerian, Colleen Long, Associated Press Harris on Tuesday stepped through the black doors of a colonial-era seaside fort and down into the dungeons, touring a site where millions of enslaved Africans were held captive before they were loaded onto ships bound for the Americas. Continue reading
Mar 28 Watch 6:04 The factors behind Silicon Valley Bank’s collapse By Paul Solman, Diane Lincoln Estes, Ryan Connelly Holmes As lawmakers hold hearings about the collapse of Silicon Valley Bank, Economics Correspondent Paul Solman takes a look at what factors were behind the second-largest bank failure in U.S. History. Continue watching
Mar 28 Watch 3:16 Congress investigates why bank failures were not prevented despite warning signs By Lisa Desjardins, Alexis Cox, Eliot Barnhart Tuesday started two days of hearings about the failure of Silicon Valley Bank and the role of federal regulators both before the bank's collapse and since then. Lawmakers from both parties criticized top officials and dug into what went wrong. Continue watching
Mar 28 Federal Reserve considering stronger bank rules after SVB failure, official says By Christopher Rugaber, Associated Press The Federal Reserve’s bank supervisors informed Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said, but the bank’s managers failed to take the steps necessary… Continue reading
Mar 28 FTX founder Bankman-Fried charged with paying $40M bribe to Chinese officials By Larry Neumeister, Associated Press FTX founder Sam Bankman-Fried was charged with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business in a newly rewritten indictment unsealed Tuesday. Continue reading
Mar 28 WATCH: Senate panel holds hearing on recent bank failures and the federal response By Christopher Rugaber, Associated Press The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said Tuesday, but its managers failed to take the steps necessary… Continue reading
Mar 27 Louvre staff block entrances as part of France’s pension change protest By Associated Press The Louvre Museum in Paris has been closed to the public because its workers took part in the wave of French protest strikes against the government's unpopular pension reform plans. Continue reading