Good morning, readers. Markets reporter George Glover here, writing to you from London while my colleague Phil Rosen is off on a well-deserved vacation.
You've probably already clocked that the biggest story in markets right now is happening on this side of the Atlantic, with investors still mulling over UBS's $3 billion rescue of its old foe Credit Suisse.
Today, I'm unpacking the biggest winners and losers from the takeover.
Welcome back! Dan DeFrancesco in NYC, and I feel like my entire life has been a lie after learning the truth about "sizzling" fajitas at restaurants.
$100K apparently isn't that much, pals. I'm Diamond Naga Siu, and I'm definitely feeling a financial strain in San Diego.
A new study found that if you make $100,000 in NYC, it only "feels like" $36,000. Meanwhile, the same study found that San Diegans need to make even more than New Yorkers to live comfortably. Imagine moving to New York to save some money. Wild.
Good morning. I'm senior editor, Max Adams, standing in for Phil Rosen.
It's official: UBS will take over Credit Suisse in a historic deal.
The Swiss National Bank made the announcement Sunday, saying that with the takeover, "a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation."
Happy Saturday readers. I'm Phil Rosen. "Happy" is used loosely here, as the past week has been defined by chaos and uncertainty across the banking system.
Happy St. Patrick's Day! Dan O'DeFrancesco (we're all Irish today) in NYC. Goldman Sachs' decision to charge employees for coffee might not be that outrageous after all! An extremely valuable baseball team makes its players pay for their own in-flight wifi.
It's finally Friday, friends. I'm Diamond Naga Siu, and I'm pretty tired of the gloomy weather here in San Diego. It's the rainiest start to a year around here for decades. And it's an alarming welcome back to the state.
This week felt like the longest month ever. Phil Rosen here — who knew you could age so precipitously in so few calendar days?
The weekend is nearly here! Dan DeFrancesco in NYC. Forget "Cocaine Bear." We've got cocaine hippos!
The ripples from Silicon Valley Bank's collapse are still being felt by the industry. San Francisco-based First Republic Bank is reportedly considering different strategic options, including a sale.
It's almost the weekend, pals. I'm Diamond Naga Siu, and I watch about one movie per year. Last year was "Bullet Train." This year, it was "Everything Everywhere, All At Once" (finally).
