Shares of SVB Financial Group (SIVB (opens in new tab)) were halted earlier after the financial firm’s subsidiary, Silicon Valley Bank, was closed today by the California Department of Financial Protection and Innovation. The regulatory agency named the Federal Deposit Insurance Corporation (FDIC) as the receiver of the regional bank, which services many of… Continue reading Silicon Valley Bank Failure Sparks Selloff in Bank Stocks
Oklahoma Recreational Weed Bill Fails: This Week in Cannabis Investing
An Oklahoma recreational weed bill failed to pass in the Sooner State this week, as Republican lawmakers in Oklahoma continue spreading Drug War-era rhetoric. Since 2018, when Oklahoma voted in the legalization of medical cannabis, the state has amassed over 2,800 dispensaries, and roughly 10% of the state’s adult population currently holds a medical license… Continue reading Oklahoma Recreational Weed Bill Fails: This Week in Cannabis Investing
First Republic and PacWest Bancorp plunge as fears of contagion grow following the biggest bank failure since 2008
The implosion of Silicon Valley Bank has dragged down other regional banks as fears of contagion grow.Shares of First Republic Bank and PacWest Bancorp have plunged as much as 61% and 53% since Thursday, respectively.Both regional banks are growth-oriented and have exposure to venture capital customers. Loading Something is loading. Thanks for signing up! Access… Continue reading First Republic and PacWest Bancorp plunge as fears of contagion grow following the biggest bank failure since 2008
Dow tumbles 345 points as the biggest bank failure since 2008 rattles nerves
Carla Mozée REUTERS/Brendan McDermid Stocks dropped sharply Friday after regulators closed Silicon Valley Bank. The bank failure is the biggest since the 2008 financial crisis and has sparked contagion fears. The S&P 500 is close to losing its 2023 gains. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading Dow tumbles 345 points as the biggest bank failure since 2008 rattles nerves
‘This is a warning to the Fed’: Wall Street reacts to the collapse of Silicon Valley Bank, the biggest bank failure since 2008
Regulators shut down Silicon Valley Bank on Friday, putting it into FDIC receivership. Early Friday, trading was halted for the stock after it plunged 87% in two days. Wall Street strategists and executives shared their reaction to the first bank collapse since 2008. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading ‘This is a warning to the Fed’: Wall Street reacts to the collapse of Silicon Valley Bank, the biggest bank failure since 2008
Silicon Valley Bank’s implosion isn’t a canary in the coal mine and won’t result in contagion, RBC analyst says
Silicon Valley Bank’s implosion isn’t a canary in the coal mine, said RBC analyst Gerard Cassidy. Contagion is unlikely to spill over, since SVB was unique in its exposure to bonds, he told CNBC. SVB also held a low ratio of small customer deposits, meaning its funding is more sensitive to rates. Loading Something is… Continue reading Silicon Valley Bank’s implosion isn’t a canary in the coal mine and won’t result in contagion, RBC analyst says
Silicon Valley Bank has been shut by the FDIC
Regulators shut down Silicon Valley Bank, putting it into FDIC receivership. Trading was halted for the bank prior to the announcement. “At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank.” Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Silicon Valley Bank has been shut by the FDIC
Kevin Carmichael: 3 things Carolyn Rogers told us about how Bank of Canada is thinking about the economy
Senior deputy governor provides some subtle context to whether policymakers will have to resume rate hikes Bank of Canada senior deputy governor Carolyn Rogers. Photo by Gavin Young/Postmedia Bank of Canada senior deputy governor Carolyn Rogers followed the central bank’s decision on March 8 to leave interest rates unchanged with a speech in Winnipeg that… Continue reading Kevin Carmichael: 3 things Carolyn Rogers told us about how Bank of Canada is thinking about the economy
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