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silicon valley bank

Desperate move to stop new bank collapse

US authorities have reached out to several financial institutions asking them to make bids on the assets of troubled First Republic Bank, a source familiar with the matter told AFP.It’s the lasters sign that the trouble that hit US and…

Bank shares plunge 50 per cent

Wall Street stocks plummeted on Tuesday, as shares of First Republic Bank were battered after an earnings report that showed it lost a large amount of deposits — reviving worries over the financial sector.Investors have been eyeing the…

‘Turmoil’: Expert’s grim recession call

Yet another expert has issued a grim recession warning, predicting a downturn was “pretty likely” with far more financial turmoil ahead.Speaking with the Financial Times this week, former US Treasury Secretary Henry “Hank” Paulson joined…