SVB’s Failed Stock Offering Shows Banks the Value of Secrecy
Silicon Valley Bank’s collapse and the ensuing market chaos could have been mitigated if its last-gasp $1.3 billion stock offering had been more fully negotiated in secret, dealmakers say.
Bloomberg Business
US Air Force Seeks $73 Billion for Northrop Bomber, ICBM Through 2028
The US Air Force’s new five-year spending plan envisions requesting more than $73 billion to develop and procure its new B-21 bomber and Sentinel intercontinental ballistic missile, both produced by Northrop Grumman Corp., according to newly released figures.
Last Energy Signs Deals Worth $19 Billion for Nuclear Plants
Last Energy Inc., a startup developing advanced, smaller nuclear power plants, completed four deals worth $18.9 billion to build 34 reactors in Europe.
First Citizens Said to Continue Silicon Valley Bank Pursuit
First Citizens BancShares Inc., one of the biggest buyers of failed US lenders, is still hoping to strike a deal for all of Silicon Valley Bank, according to people familiar with the matter.
Trudeau’s Finance Chief Defends Banks, Promises Prudent Spending
Finance Minister Chrystia Freeland said Canada’s banks remain on solid ground despite global turmoil in the financial sector, and pledged to “exercise fiscal restraint” when she delivers the federal budget next week.
Goldman Call on ESG Debt Paves Way for Fund’s Short
As analysts at Goldman Sachs Group Inc. call time on the so-called greenium, one bond fund’s strategy is already taking advantage of the new pricing reality.
Biden Administration Suggests Supreme Court Drop Election Case
The Biden administration suggested the US Supreme Court drop a closely watched election case after an unusual twist raised fresh questions about the court’s jurisdiction.
Sunak’s UK Tories Cut Labour Polling Lead in Half in a Week
UK Prime Minister Rishi Sunak’s Conservative Party made up significant ground on the Labour opposition in one poll conducted just days after the budget found.
Credit Suisse’s Demise Spurs Protests in Zurich Financial Center
About 200 protesters gathered outside Credit Suisse Group AG’s headquarters in Zurich this evening following the bank’s collapse.
The 11 Days of Turmoil That Brought Down Four Banks And Left a Fifth Teetering
The speed with which four banks collapsed — and one continues to struggle — has left investors reeling. While the failures came in the span of just 11 days, the scenarios that brought them down were each unique.
