Signature Bank, which collapsed last week in the wake of Silicon Valley Bank’s failure, will be taken over by New York Community Bancorp, the Federal Deposit Insurance Corporation (FDIC) announced Sunday. With deposits of $88.6 billion and more than $110 billion in assets at the end of 2022, Signature Bank’s collapse is considered the third-largest bank … Read more
UBS agrees to buy rival Credit Suisse – CBS News Watch CBS News Swiss banking giant UBS has agreed to buy rival Credit Suisse for $3 billion. The deal, brokered by the Swiss government, is aimed at staving off fears of a broader banking collapse. Be the first to know Get browser notifications for breaking … Read more
The banking giant UBS has agreed to purchase Credit Suisse, a smaller rival, Swiss authorities announced on Sunday. The historic deal comes as major financial institutions continue to grapple with the fallout from the sudden collapse of Silicon Valley Bank earlier this month, and work to stave off a broader crisis. “This takeover was made … Read more
First Republic Bank and Credit Suisse shares tumbled Friday, a sign investors remain wary of the beaten down banking industry despite public and private measures to stabilize the sector. The decline in the banks’ stocks resumed downward slides that were interrupted on Thursday when both First Republic and Credit Received received pledges of emergency funding … Read more
Travelers looking to fly out of a modern, attractive airport with efficient security, tasteful restaurants and top-notch shopping should bypass the U.S. According to aviation ranking website Skytrax, only one U.S. airport ranks among the top 20 in the world — Seattle-Tacoma Airport in Washington state, at No. 18. The rest of the continent isn’t so … Read more
Former Theranos executive Ramesh “Sunny” Balwani found an escape hatch Thursday from the scheduled start of his nearly 13-year prison sentence for a blood-testing hoax he engineered with his former boss and lover, Elizabeth Holmes. Just hours before Balwani was supposed to surrender to authorities, his lawyer filed documents notifying U.S. District Judge Edward Davila … Read more
Stocks rebound as Yellen testifies on banks Yellen testifies on Capitol Hill as bank stocks see slight rebound 05:51 Washington — President Biden on Friday called on Congress to give his administration the authority to impose tougher penalties on senior bank executives who mismanage lending institutions as the fallout from several recent bank failures continues to … Read more
Ryan Reynolds may be best known for his portrayal of the wise-cracking Deadpool, but the actor is also developing a reputation as a savvy investor. After taking stakes in businesses like Aviator Gin and Mint Mobile, the Canadian’s wealth from dealmaking may far surpass his movie industry earnings. Reynolds could earn a payout of more … Read more
Beijing — Days after popular artificial intelligence tool ChatGPT‘s developer OpenAI released its latest version, GPT4, Chinese tech giant Baidu, best known for its search engine and map services in the country, revealed its AI answer to the world. In a prerecorded video presentation, Baidu’s celebrity founder Robin Li showcased the “Ernie” (Enhanced Representation of Knowledge … Read more
A growing number of Americans say they are struggling to pay their bills, battered by inflation and the loss of federal pandemic aid. About 36% of consumers say it has been “somewhat” to “very difficult” for them to pay their usual bills in the last seven days, according to the Census Bureau’s most recent Household … Read more