Senator Elizabeth Warren called on Federal Reserve Chairman Jerome Powell to recuse himself from the Fed’s review of the failure of the Silicon Valley Bank, the biggest collapse of a lender in more than a decade.
The chief executive officer of Sweden’s biggest pension fund, Alecta, admitted its $2.1 billion bet on three niche US banks tied to Silicon Valley Bank’s collapse was “a big failure”.
Global oil markets appear on track for a modest surplus next quarter amid a seasonal lull in demand, according to OPEC.
Illinois, Oregon and Kentucky are among US states weighing pay disclosure rules.
Thailand’s cabinet approved a raft of proposals in what’s likely to be its last meeting before Prime Minister Prayuth Chan-Ocha dissolves parliament to pave way for a general election.
Treasuries swung to a loss Tuesday, a sign of traders’ heightened sensitivity to news on the health of the banking system ahead of key inflation data that may determine the Federal Reserve’s next move.
Binance Holdings Ltd., the world’s largest crypto exchange, is suspending deposit and withdrawal services via bank transfers and card payments for UK customers after its local banking partner stopped providing support for transactions in British pounds.
NatWest Group Plc has restricted customers’ crypto activity, becoming the latest UK bank to put limits on the volatile asset class.
Economist Nouriel Roubini has partnered with Goldman Sachs Group Inc. to launch the first in a suite of planned financial products that offer investors an alternative safe haven in a big market crash.
Silicon Valley Bank’s collapse is just the latest example of how a historic slowdown in IPOs is producing a minefield of unexpected consequences.
