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The Latest Breaking News on Financial Services

Old ghosts of Staley – and Epstein – haunt Barclays once again

A new lawsuit against its former boss does not involve the bank, but awkward questions may be asked at this week’s AGM

The Guardian - UK

JPM eyes First Republic as FDIC prepares takeover

The regional bank has lost 97% of its value since March.

Axios

Spectre of first global credit crunch since global financial crisis emerges as another US bank faces collapse

The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year.

ABC News

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First Republic bank in limbo as shares fall further

New York (AFP) - Shares of First Republic fell further into an abyss Friday amid mounting speculation over the US regional bank's way forward after it reported a big fall in deposits.

AFP

KAsset is feeling bullish on China amid reopening

Kasikorn Asset Management (KAsset), the largest mutual fund company by assets under management (AUM), reports a healthy start to the year with net inflows of more than 30 billion baht in the first quarter.

Bangkok Post

Asian shares revive after big US tech rally

RECAP: Shares in Asia rallied yesterday after robust earnings from tech giants Meta, Microsoft and Alphabet buoyed Wall Street, where the S&P 500 had its best day since the first week of the year.

Bangkok Post

Market Dip? No Problem: These 2 Stocks Are Still a Great Buy

Unrest in the banking sector, worsened by the rising interest rate environment, has reignited market volatility and sparked a sell-off. Nevertheless, the recent market dip could provide an excellent opportunity for investors to buy fundamentally sound cheap stocks Murphy USA Inc. (MUSA) and Stride, Inc. (LRN), which could surge soon.…

StockNews.com

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Federal Reserve Takes the Blame for Silicon Valley Bank Failure

The Federal Reserve admitted it should have taken more action before Silicon Valley Bank collapsed on March 10.

The Street

US regulators admit mistakes were made ahead of regional bank failures

Washington (AFP) - The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank (SVB) last month.

AFP

Fed blames itself for Silicon Valley Bank collapse

Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday

The Independent UK

Federal Reserve will consider tougher rules for banks after Silicon Valley Bank failure

The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse.

Axios

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

Recent bank failures may have you worried about your money

The Independent UK

US Fed calls for tougher bank rules after SVB collapse

AFP

First Republic Dives Late As FDIC Receivership May Be Imminent; Why Other Bank Stocks Are Unfazed

First Republic Bank crashed to fresh lows Friday on reports the FDIC will likely place it into receivership. But other bank stocks rose.

Investors Business Daily

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The Street

First Republic Plunges To Fresh Record Low Amid FDIC Receivership Report

CNBC's David Faber said a solution to First Republic's balance sheet issues could come as early as today.

Birmingham Post

Business confidence in the South West reaches highest level this year according to latest Lloyds research

According to the latest business `barometer overall UK business confidence reaches a 11-month high

Birmingham Post

Danske Bank first quarter profits jump on increased transaction and interest rates

It made £48.9 million in the first three months of 2023

The Guardian - UK

NatWest first-quarter profits jump by 50% after interest rate rises

Banking group says some customers have had to dip into savings because of rising prices

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Evening Standard

Rise in mortage lending lifts NatWest profits

Shares fall as publically owned lender leaves annual profit guidance on hold

Birmingham Post

NatWest sees profit surge 50% on last year and beat predictions

Lender has not seen a rise in customers falling into arrears despite cost of living crisis

Evening Standard

Aldermore agrees deal to move London HQ to Broadgate Tower

Aldermore Bank has inked a deal for a larger London headquarters in the City, in a move set to encourage more staff into the office post-pandemic.

Birmingham Post

The Co-operative Bank 'confident' for the future after possible sale or IPO reports

Operating expenditure increased by 20% to £101.5m due to an increase in staff costs following cost-of-living payments as well as salary rises and higher recruitment

Insider UK

NatWest profit surge beats expectations

Operating profits before tax came in 50% higher than the figure recorded this time last year

Insider UK

Scottish business confidence dips, but remains upbeat

Business confidence in Scotland fell seven points during April to 31%

The Independent UK

Fed's review of role in Silicon Valley Bank collapse due out

The Federal Reserve is scheduled Friday to release a highly-anticipated review of its supervision of Silicon Valley Bank, the go-to bank for venture capital firms and technology start-ups that failed spectacularly in March, setting off a crisis of confidence for the banking industry

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