Another US Bank Closed, JP Morgan To Acquire Assets Of First Republic Bank

All depositors of First Republic Bank will become depositors of JPMorgan Chase Bank, National Association, and will have full access to all of their deposits.

May 01, 2023, 18:14 PM IST

"My Daughter Made Her Husband A Prime Minister," UK PM Sunak's Mother-In-Law Sudha Murty

UK PM's mother-in-law, Sudha Murty, has claimed in a video circulating online that because of her daughter, Rishi Sunak became the youngest prime minister of UK.

Apr 28, 2023, 09:56 AM IST

Buzzfeed News Shutting Down, 15% Staff To Be Fired

The company would focus on HuffPost, which it acquired in 2020, as the company's news brand.

Apr 21, 2023, 12:17 PM IST

Popular Tourist Destination Hawaii Plans Fees For Ecotourism Crush

The governor campaigned last year on a platform of having all tourists pay a USD 50 fee to enter the state. Legislators think this would violate US constitutional protections for free travel and have

Apr 05, 2023, 15:46 PM IST

Johnson & Johnson Offers $8.9 Billion To Settle 'Talc Caused Cancer' Lawsuits

Johnson & Johnson and its other affiliates did not file for bankruptcy protection and will continue to operate their businesses as usual, it said.

Apr 05, 2023, 15:17 PM IST

Ajay Banga Poised To Become World Bank Chief Unopposed

The World Bank's Board of Executive Directors will interview Banga before he is formally appointed.

Mar 31, 2023, 09:16 AM IST

FTX Founder Sam Bankman-Fried Charged With Paying USD 40 Million Bribe To China

FTX filed for bankruptcy on November 11, when it ran out of money after the equivalent of a bank run on the global cryptocurrency exchange. 

Mar 29, 2023, 08:26 AM IST

Disney's 1st Job Cut Round Begins This Week, 7,000 Employees To Be Hit

The job cuts will reportedly affect Disney`s media and distribution segment along with ESPN and the parks and resorts division.

Mar 28, 2023, 09:08 AM IST

First Citizens Bank Acquires Deposits And Loans Of Failed Silicon Valley Bank

The 17 former branches of Silicon Valley Bank will now open as First-Citizens Bank and Trust Company starting today.

Mar 27, 2023, 15:10 PM IST

Pakistan Economic Crisis: Onions Prices Rise By 228%, Wheat Rates Up By 120% - Check Rates Of Other Kitchen Items Here

According to a report by pkrevenue, the price of onions in Pakistan has increased by 228,28 percent, and the price of wheat flour has increased by 120,66 percent.

Mar 26, 2023, 21:47 PM IST

M3M Hurun Global Rich List 2023: These 5 Countries Have Most Self-Made Billionaires

Mar 23, 2023, 15:56 PM IST

EU Plans To Make Mandatory For Companies To Offer Repairs For Worn-Out Products Up To 10 Years Under New Proposed Rules

Under the EU rules, companies would have to repair a defective product for free within the two-year legal guarantee period, if the cost of repair is cheaper or equal to replacing the product. After

Mar 23, 2023, 14:05 PM IST

US Fed Further Hikes Interest Rate By 25 Bps In Fight Against High Inflation Amid Turmoil Of Banking System

After the latest hike in rates, the US monetary policy committee anticipates that some "additional policy firming" may be appropriate in order to attain a stance of monetary policy that is

Mar 23, 2023, 13:17 PM IST

UBS To Buy Credit Suisse For $3.2 Billion To Rein In Turmoil

The Swiss Federal Council, a seven-member governing body that includes Berset, passed an emergency ordinance allowing the merger to go through without the approval of shareholders.

Mar 20, 2023, 08:17 AM IST

China Cuts Banks' Reserve Ratio For First Time In 2023 To Aid Recovery

The central bank has promised to make its policy "precise and forceful" this year to support the economy, keeping liquidity reasonably ample and lowering funding costs for businesses.

Mar 17, 2023, 17:33 PM IST

European Central Bank Increases Key Rate By 50 Bps Amid Global Banking Turmoil

While systemic banking crises generally morph into deep recessions, the euro zone's financial system is in its best shape in years, with capital, liquidity and profits all at healthy levels.

Mar 16, 2023, 19:29 PM IST

Investment Banker Credit Suisse Secures $54 Bln Lifeline As Authorities Rush To Avert Global Bank Crisis

Credit Suisse is the first major global bank to be given an emergency lifeline since the 2008 financial crisis and its problems have raised serious doubts over whether central banks will be able to

Mar 16, 2023, 12:14 PM IST

'Your Deposits Will Be There When You Need Them': US President Joe Biden On SVB Crisis

US regulators closed the Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once.

Mar 13, 2023, 19:06 PM IST

FDIC Nominated Fannie Mae's Former CEO, Tim Mayopoulos, To Lead Silicon Valley Bank

Before joining fintech Blend, Mayopoulos spent more than six years as the CEO of mortgage financier Fannie Mae.

Mar 13, 2023, 17:57 PM IST

After SVB & Signature Bank's Collapse, Biden To Brief Today On Maintaining Banking System

Signature Bank was closed by the state regulators on Sunday, becoming the second US bank after Silicon Valley Bank which collapsed on Friday.

Mar 13, 2023, 14:57 PM IST