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The Latest Breaking News on Financial Services

First Republic Bank Fails As Former Treasury Secretary Larry Summers Warns The Consequences To Come

The failed bank was taken over by the FDIC and taken over by JPMorgan Chase A Month After Received A $30 billion deposit

Zenger

Reserve Bank hikes cash rate to 3.85 per cent, ASX hits three-week low, Qantas appoints new CEO to replace Alan Joyce

The RBA has surprised markets and economists by lifting interest rates to 3.85 per cent, after being widely predicted to stay on hold for a second month. Look back on the day's events as they happened with our blog.

ABC News

US stocks down after First Republic Bank takeover

New York (AFP) - Wall Street stocks ended lower on Monday as markets digested the takeover of the embattled First Republic Bank, while awaiting a key Federal Reserve policy decision this week.

AFP

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Relief at First Republic sale, but US banks still face pressure

New York (AFP) - JPMorgan Chase's takeover of First Republic resolved the fate of the last major bank caught up in recent upheaval, but the sector still faces a weakening economy and challenges from higher interest rates.

AFP

First Republic Bank Is The Second-Largest U.S. Bank Failure. What Comes Next?

First Republic Bank marked the 2nd largest bank failure in U.S. history. Are there more to come? What comes next from regulators?

Investors Business Daily

Stock Market Today: Stocks Struggle After JPMorgan Buys First Republic

It was a choppy day for stocks as investors considered another bank failure.

Kiplinger

Why First Republic failed. Are other banks to follow?

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks

The Independent UK

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First Republic's failure may lead to other woes

Struggling banks — even if they're not failing — are bad news for economic growth.

Axios

Kiwi banks at odds with Aussie bosses over gambling on credit

Australian banks are supporting a Canberra government ban on gamblers using their credit cards to bet online. Their Kiwi subsidiaries are taking quite a different position.

Newsroom.co.nz

US markets mixed after First Republic Bank takeover

New York (AFP) - Wall Street stocks were mixed on Monday as markets digested the takeover of the embattled First Republic Bank, while Tokyo stocks closed higher ahead of the Federal Reserve's key policy decision this week.

AFP

First Republic Bank collapses, seized

"Ultimately taxpayers will be on the hook," Sen. Elizabeth Warren warned

Salon

JPMorgan buys First Republic after regulators seize control

New York (AFP) - US financial authorities seized California's troubled First Republic Bank on Monday and sold it to JPMorgan Chase, hoping to bring to a close a two-month banking crisis that has spooked the financial system.

AFP

Full list of 76 bank branches that will shut FOREVER this month including HSBC, Halifax & TSB

According to Which? since 2015 over 5,500 bank and building society branches have shut their doors as more people shift to online services to manage their money

Daily Mirror

Bank Failures Widen. JPMorgan Rescues First Republic.

San Francisco-based First Republic Bank was seized by the FDIC and substantially all its business was sold to JPMorgan early Monday.

Investors Business Daily

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The Independent UK

Is my money safe? What you need to know about bank failures

Recent bank failures may have you worried about your money

AFP

JPMorgan to buy First Republic after regulators seize control

San Francisco (AFP) - US financial authorities seized California's troubled First Republic Bank on Monday and sold it to JPMorgan Chase, hoping to bring to a close a two-month banking crisis that has spooked the financial system.

The Street

First Republic Sold to JPMorgan in Latest U.S. Bank Collapse

'We should acknowledge that bank failures are inevitable in a dynamic and innovative financial system,' the FDIC said in a statement.

The Street

Stocks Edge Higher, Fed Decision In Focus, First Republic Fail, G-7 Eyes AI, Arm IPO - Five Things To Know

Stock futures edge higher with earnings, Fed in focus; Week Ahead: Fed decision highlights hectic slate on Wall Street; First Republic sold to JPMorgan as regulators take over another failed lender; G-7 ministers agree to tame ai developments, ensure 'trustworthy' system and Softbank plans Nasdaq IPO for Arm after spurning…

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Kiplinger

Five Places to Put Cash Rather Than in the Bank

FDIC sweep programs, money market funds, Treasuries and more could be alternative places to stash cash instead of keeping it in the bank.

The Guardian - UK

JP Morgan boss plays down risk of crisis after second biggest bank failure in US history

Jamie Dimon’s remarks follow $10.6bn takeover brokered by US regulators to buy most of failed First Republic

The Independent UK

First Republic Bank seized by US regulators and sold to JP Morgan Chase

Drastic intervention to contain third US bank failure in two months

WEKU

JPMorgan Chase buys troubled First Republic Bank after U.S. government takeover

JPMorgan Chase is taking over First Republic after the troubled bank was placed in the FDIC's receivership in the latest failure in the banking system.

Wales Online

London hotel named in honour of the King's big day

London Bank's Premier Inn has had a new signage - and has been renamed the "Cor-Inn-nation", in honour of the special day.

ABC News

US authorities 'auction' First Republic Bank to JPMorgan after second biggest bank failure in history

US regional bank First Republic had a little more than $301 billion worth of assets and around 7,000 employees.

The Guardian - UK

Barclays bank put my £350,000 out of reach after Brexit changes

I am out of work and need it but it shut down my account here in Spain

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