Federal transportation regulators will decide whether to challenge JetBlue Airways Corp.’s purchase of Spirit Airlines Inc. only after the Justice Department’s lawsuit to block the deal is decided, setting up lengthy litigation over the deal.
US authorities raced over the weekend to put together a package of emergency measures that would snuff out fears about the health of the banking system.
Investors are questioning whether the US government’s hastily assembled weekend rescue plan for the banking system will prevent more fallout from the collapse of SVB Financial Group’s Silicon Valley Bank.
Charles Schwab Corp. rebounded from a record intraday decline after the online brokerage sought to reassure investors that it has sufficient liquidity to handle any volatility following the collapse of Silicon Valley Bank.
The turmoil following the collapse of Silicon Valley Bank continued to spread Monday, with First Republic Bank shares falling a record 62% despite efforts by the US regional lender to reassure investors on its liquidity.
The Federal Reserve said Monday it is launching an internal review of its supervision and regulation of Silicon Valley Bank after its failure last week.
Former Treasury Secretary Lawrence Summers said that at this point it would still make sense for the Federal Reserve to boost interest rates by 25 basis points next week, given the importance of defeating inflation.
The US Veterans Health Administration will pay for some beneficiaries to get a new Alzheimer’s disease drug from Eisai Co. and Biogen Inc., positive news for a treatment that Eisai expects to bring in billions of dollar in sales in the next few years.
(Bloomberg) — Germany and the Czech Republic are pushing for the European Union to move quickly on a solution on how to exclude cars running on so-called e-fuels from Europe’s planned combustion-engine ban, an issue that’s thrown the region’s climate-protection efforts in jeopardy.
Oil prices slid and volatility surged as traders fled risk and tried to come to grips with how the biggest US bank collapse since 2008 would reverberate through the economy.
