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The Latest Breaking News from First Republic

Regulators Seize First Republic Bank and Sell It to JPMorgan Chase

Plus: Twitter complies with a greater portion of government censorship requests, a judge allows an antitrust suit against Google to go forward, and more...

Reason

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

Markets Today: Stock Index Futures Modestly Lower as JPMorgan Acquires First Republic

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are down -0.10%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.20%. U.S. stock index futures this morning are modestly lower. The markets are awaiting quarterly earnings results this week from Apple, Advanced Micro Devices, and Ford...

Barchart

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Dow Jones Rises As JPMorgan Buys Failed First Republic Bank; FRC Stock Crashes 45%

The Dow Jones rose Monday morning, as JPMorgan Chase bought failed First Republic Bank. FRC stock crashed 45%.

Investors Business Daily

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

Microsoft chief scientific officer Eric Horvitz says few aspects of humanity will be replaced by A.I.

“I put a lot of my time and attention into this, because I think it really threatens to erode democracies,” says Horovitz.

Fortune

JP Morgan to take over US bank First Republic after lender becomes third to collapse

Banking giant JP Morgan will take over $295 billion (£236 billion) in assets and liabilities of First Republic Bank after the third major US institution collapse in the last two months

Daily Mirror

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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

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.

AFP

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…

The Street

Stock Index Futures Muted as Investors Await Fed Meeting, JPMorgan Takes Over First Republic

June S&P 500 futures (ESM23) are up +0.04%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.05% this morning as market participants digested JPMorgan’s takeover of First Republic’s assets while looking ahead to the Federal Reserve’s upcoming interest rate decision as well as Friday’s nonfarm payrolls report.

Barchart

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 Guardian - UK

JPMorgan Chase to acquire First Republic Bank

The bank's been on shaky ground since the failure of Silicon Valley Bank.

Axios

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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.

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 Independent UK

First Republic in limbo as US regulators juggle bank's fate

Regulators are searching for a solution to First Republic Bank’s woes, hoping to find a way forward before U.S. stock markets open Monday

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The Independent UK

Stock market today: Tokyo gains, most Asian markets closed

Shares have advanced in Tokyo and Sydney while most Asian markets were closed for May 1 holidays

Chicago Sun-Times

First Republic Bank’s fate is up in air as regulators seek a solution to its woes

First Republic is seen as the next bank likely to fail after Silicon Valley Bank, Signature Bank because of its amount of uninsured deposits and exposure to low interest rates.

The Independent UK

First Republic up in air as regulators juggle bank's fate

Regulators continued their search for a solution to First Republic Bank’s woes over the weekend before stock markets were set to open Monday

The Guardian - UK

Time running out for US financial firms to bid for ailing bank First Republic

Deadline of Sunday set for companies such as JPMorgan Chase to table offer for California bank whose shares have plummeted

Axios

Banks submit First Republic bids to FDIC

The government hopes to resolve the fate of bank by Monday's open on Wall Street.

Axios

JPM eyes First Republic as FDIC prepares takeover

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

ABC News

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.

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