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A couple is accusing JPMorgan of drilling open their safe deposit boxes and selling $10 million of their jewelry after they failed to pay rent for the boxes

Thu, 03/23/2023 - 21:54

Woman Keeping her jewelry in a bank safe box - stock photo — A couple is accusing JPMorgan of drilling open their safe deposit boxes and selling $10 million of their jewelry after they failed to pay rent for the boxes.
Juanmonino/Getty Images

News, finance, JPMorgan, Banks, Jewelry, Safes, lawsuit

The current banking crisis is a 'worldwide phenomenon' that started long before SVB failed, Harvard professor and former IMF economist says

Thu, 03/23/2023 - 16:06

SVB bank — SVB Financial's share price collapse is weighing on top bank stocks including JPMorgan and Bank of America.
Dado Ruvic/Reuters

Markets, MI Exclusive, Banks, Silicon Valley Bank, SVB, Banking Crisis, Inflation

The banking crisis risks severe spillover across the financial sector and beyond, Moody's says

Thu, 03/23/2023 - 13:48

Silicon Valley Bank, Fed Chair Jerome Powell — Silicon Valley Bank, Fed Chair Jerome Powell
John Brecher for The Washington Post via Getty Image, Anna Moneymaker/Getty Images

Markets, MI Exclusive, bank crisis, SVB, Silicon Valley Bank, Fed, Federal Reserve

Former Goldman Sachs CEO Lloyd Blankfein says the latest crisis not like 2008 as the banking system is in much better shape

Wed, 03/22/2023 - 13:15

Lloyd Blankfein — Former Goldman Sachs CEO, Lloyd Blankfein
Brendan McDermid/Reuters

Markets, MI Exclusive, Lloyd Blankfein, Goldman Sachs, Silicon Valley Bank, SVB, 2008 Financial Crisis

The Fed 'can hit the pause button' on interest rates as it's done enough to fight inflation, JPMorgan Asset Management's fixed-income chief says

Wed, 03/22/2023 - 12:40

Tech Insider : Economy

Wall Street — Henny Ray Abrams/AP

Markets, MI Exclusive, Federal Reserve, Interest Rates, Monetary Policy, Yields, JPMorgan Asset Management

US stocks slip ahead of Fed's decision on interest rates following bank crisis

Wed, 03/22/2023 - 09:40

traders nyse — Traders work on the floor of the NYSE in New York.
Brendan McDermid/Reuters

Markets, MI Exclusive, Stocks, S&P 500, Dow Jones Industrial Average, Nasdaq Composite, Federal Reserve

SVB Financial accuses FDIC of 'improper actions' to block the firm from accessing $2 billion of its cash

Wed, 03/22/2023 - 07:09

SVB — Police officers outside SVB's headquarters in Santa Clara, California on Friday.
Getty Images

Markets, MI Exclusive, SVB, Silicon Valley Bank, Silicon Valley Bank collapse, FDIC, SVB Financial Group

The Swiss government has put a stop to some Credit Suisse banker bonuses after public backlash over the state-engineered rescue plan

Wed, 03/22/2023 - 01:10

Chairman of the Board of Directors of UBS, Colm Kelleher and Chairman of the Board of Directors of Credit Suisse, Axel Lehmann attend a news conference on Credit Suisse after UBS takeover offer, in Bern, Switzerland, March 19, 2023. — Colm Kelleher, the chairman of UBS, looks to shake hands with Axel Lehmann, his counterpart at Credit Suisse, on Sunday.
Denis Balibouse/Reuters

News, Markets, Credit Suisse, Switzerland, Banks, bank crisis, Bailout

First Republic and other regional bank stocks surge as Yellen sees crisis 'stabilizing' and big lenders eye more support

Tue, 03/21/2023 - 12:14

A man rides a bicycle past the First Republic Bank branch in Santa Monica, California. — A man rides a bicycle past the First Republic Bank branch in Santa Monica, California.
PATRICK T. FALLON/AFP via Getty Images

Markets, MI Exclusive, first republic bank, Banking Crisis, PacWest Bank, Silicon Valley Bank, Western Alliance Bancorp

Credit Suisse's rescue had a sting in its tail for the banking crisis. Here's what you need to know about AT1 bonds.

Tue, 03/21/2023 - 11:46

The Swiss regulator wrote the value of Credit Suisse's AT1 bonds down to zero as part of UBS's takeover deal Sunday.

Arnd Wiegmann/Getty Images

Markets, MI Exclusive, Credit Suisse, ubs, Banking Crisis, Banks, Bonds

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