Mar 14 Silicon Valley Bank’s collapse rattles tech industry leaders, entrepreneurs By Michael Liedtke, Associated Press “They were the gold standard, it almost seemed weird if you were in tech and didn’t have a Silicon Valley Bank account,” Stefan Kalb, CEO of Seattle startup Shelf Engine, said during an interview. Continue reading
Mar 14 Stocks rally on Wall Street following inflation report, bank failures By Stan Choe, Associated Press The S&P 500 was 1.5 percent higher in early trading after a report showed inflation is still high but heading lower. Stocks of smaller and mid-sized banks recovered some of their prior plunges caused by worries that customers could yank… Continue reading
Mar 14 Inflation eased in February but remains high, putting pressure on Fed By Christopher Rugaber, Associated Press U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. Continue reading
Mar 13 Watch 11:30 Government takes steps to shore up confidence after collapse of two banks sparks fears By Paul Solman, Diane Lincoln Estes, Geoff Bennett, Saher Khan, Shoshana Dubnow Regional banks took a beating and suffered their deepest losses in years on the stock market Monday. It came after the government's top financial authorities spent the weekend taking action to shore up confidence around the system after the failure… Continue watching
Mar 13 Watch 4:05 News Wrap: Winter storms bearing down on both U.S. coasts In our news wrap Monday, new winter storms are bearing down on both coasts, the U.S. and South Korea launched their biggest joint military drills in years provoking furious protests from North Korea, Australia will buy as many as five… Continue watching
Mar 13 What is the controversy behind the Alaska Willow oil project? By Becky Bohrer, Matthew Brown, Matthew Daly, Associated Press Supporters say a major oil project President Joe Biden is approving on Alaska's petroleum-rich North Slope represents an economic lifeline for Indigenous communities while environmentalists say it runs counter to his climate goals. Continue reading
Mar 13 What to know about the Silicon Valley Bank collapse By Christopher Rugaber, Ken Sweet, Associated Press Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks… Continue reading
Mar 13 Analysis: What Silicon Valley Bank collapse means for the U.S. financial system By William Chittenden, The Conversation SVB, as the bank is known, collapsed with lightning speed following a run on its deposits. Continue reading
Mar 13 Stocks fall and Wall Street fearful after SVB failure followed by second bank By Stan Choe, Associated Press Investors are worried that a relentless rise in interest rates meant to get inflation under control have hit a tipping point and may be cracking the banking system and broader economy. Continue reading
Mar 12 Federal government moves urgently to avert potential banking crisis By Ken Sweet, Christopher Rugaber, Chris Megerian, Cathy Bussewitz, Associated Press The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly. Continue reading