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The Latest Breaking News from Silicon Valley Bank

JPMorgan Stock Leaps After Blasting Q1 Earnings Forecast As Higher Rates Lift Bottom Line

"The storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks," said JPMorgan CEO Jamie Dimon.

The Street

Stocks Edge Lower, JPMorgan Earnings, Fed Borrowing, Boeing Delays, Washington Commanders Sold - Five Things To Know

Stock futures slip lower ahead of earnings, retail sales data; JPMorgan kicks of big bank earnings with focus on sector fallout; U.S. banks pare borrowing from Fed as crisis pressure ease; Boeing shares slump on renewed 737 Max delivery delays and Washington Commanders sold for $6 billion in NFL franchise…

The Street

Why Bank of England is looking to bolster UK protections for savers

Governor has played down repeat of 2007-08 financial crisis but review of payout policy points to unhappy memories

The Guardian - UK

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Bank of England considers bolstering protection for savers

Governor reveals review of payout policy after failures of Silicon Valley Bank and Credit Suisse in March

The Guardian - UK

It cost $22 billion to rescue two failed banks. Now the question is who will pay

Regulators need to decide how to recover the cost of rescuing Silicon Valley Bank and Signature Bank — and community banks across the country are warning they should not be on the hook.

WEKU

US banks face increased scrutiny of Q1 results after SVB collapse

New York (AFP) - Roughly a month after Silicon Valley Bank's collapse sparked fears of contagion, quarterly earnings reported this week are expected to focus on bank liquidity and the industry's preparation in case of recession.

AFP

Warren Buffett Sends a Warning About the Banks

In his first interview since the banking crisis began, the legendary investor is not very reassuring about the health of banks.

The Street

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Weeks after his ‘big failure’ losing almost $2 billion on SVB, Sweden’s top pension fund chief sacked ‘with immediate effect’

Magnus Billing urged Alecta to “take actions based upon the lessons learned.” The action was his dismissal.

Fortune

Inflation Preview: Cooling March CPI Won't Alter Fed Rate Path, But Summer Pause is Coming

The Fed isn't ready to blink just yet in its inflation stare-down, but rate hikes are about to peak nonetheless.

The Street

Small business owners feel the credit crunch

Small businesses are seeing the already-tough process of getting business loans get even tougher

The Independent UK

Twin threats of rising rates and deglobalisation leave IMF spooked

Fund is more cautious about world economic outlook after turmoil at Silicon Valley Bank and Credit Suisse

The Guardian - UK

10 Banks' Profit Is About To Completely Fall Apart, Analysts Warn

Just when you thought the banking crisis was over — you'd better brace for an onslaught of big drops in bank profit.

Investors Business Daily

Bitcoin price rises above $30,000 for first time since June 2022

Cyptocurrency’s steady increase in value reignites fears of widespread market manipulation

The Guardian - UK

New York Fed Survey Shows Credit Crunch Worries, Inflation Expectation Spike; Treasury Yields Jump

A surprise spike in inflation expectations, even amid tightening credit conditions, adds further complexity to the Fed's rate hike debate.

The Street

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Fortune

The strange case of SVB Capital

Hundreds of pages of bankruptcy filings reviewed by Term Sheet outline the bizarre limbo the VC unit finds itself in.

Investors Business Daily

Companies Are Dropping Like Flies (And 10 Are Most At Risk Now)

Bankruptcy is a real and rising risk again — retraining investors to look for warning signs a company is about to collapse. Failing to spot a bankruptcy can be catastrophic.

WEKU

Credit crackdown weighs on businesses

Even before the collapse of Silicon Valley Bank last month, other banks were getting stingier about making loans. That makes it harder for businesses trying to grow and raises the risk of recession.

The Street

Elon Musk Warns U.S. Banks Face a Big Problem

The sudden collapse of Silicon Valley Bank on March 10 caused panic among depositors at many banks, large and small.

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The Street

Suze Orman Has Some Essential Advice For the Looming Recession

Now is the perfect time to do this.

Fortune

One crypto VC thinks it’s the ‘best time’ to invest despite industry turmoil

Despite the turmoil, CoinFund’s David Pakman is bullish on investing right now—but perhaps not in the U.S.

McClatchy Washington Bureau

‘Total and complete disaster’: DeSantis takes rhetorical aim at Fed Chairman Powell

WASHINGTON — Ron DeSantis has found a new rhetorical target as he prepares for a potential presidential bid: Federal Reserve Chairman Jerome Powell.

Fortune

'I'm running the business as if I will never fundraise again,' says Crunchbase CEO

Companies raised 53% less in the first quarter than they did in 2022.

The Street

JP Morgan's Jamie Dimon Says Bank Troubles Reveal Important Fact About Risk

'Vigilant scrutiny' is needed, Dimon writes.

The Philadelphia Inquirer

Investors looking to protect against uncertainty could cash in with bonds

Bond yields are back, Daniel B. Berkowitz has been telling clients at Philadelphia-based Prudent Asset Management, which manages $1 billion for investors including Congregation Rodeph Shalom and family-business owners.

The Guardian - UK

Financial turmoil will be felt for years, says JP Morgan boss

Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence

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