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The Latest Breaking News on Fears of City jobs axe grow as IG cuts 10% of staff

Global banking crisis anything but over as investors dump giant USB’s shares

Banking stocks have fallen sharply with heavyweights Deutsche Bank and UBS hit hard by fears of the worst crisis since 2008 financial crisis

The New Daily

Asian shares fall on banking turmoil, recession worries

Shares have fallen in Asia as worries over turmoil in the banking sector and the risks of recession overshadowed gains on Wall Street

The Independent UK

Elon Musk says Jerome Powell is so bad at his job that GPT-4 would be a better Fed chair: ‘This foolish rate hike will worsen depositor flight’

Elon Musk disagreed with the Fed describing the banking system as “sound and resilient,” tweeting, “banks are melting.”

Fortune

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Stifel poaches trio of SVB bankers

SVB is for sale, but some of its top bankers have already left.

Axios

Bitcoin teeters near $27,000 as Fed raises interest rates and Powell says cuts unlikely in 2023

The cryptocurrency jumped above $28,000 earlier this week.

Fortune

3 Stocks with More Upside Potential

Coupled with macroeconomic headwinds, the sudden regional banking failures have marred investor sentiments. Moreover, amid anticipations of a recession, the existing market volatilities are not likely to subside anytime soon. Given this backdrop, we think the strong growth prospects of Gilead Sciences (GILD), Teva Pharmaceutical (TEVA), and MacroGenics (MGNX) make…

StockNews.com

3 Forever Stocks to Buy and Hold for the Long-Term

The banking crisis and the Fed’s determination to cool inflation with higher interest rate hikes are likely to tip the economy into a recession. Amid this backdrop, it could be wise for investors to focus on their long-term portfolios and buy fundamentally strong stocks Broadcom (AVGO), Coca-Cola (KO), and Casey’s…

StockNews.com

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The ASX rises almost 1 per cent as GFC fears subside and market anticipates tonight's US Fed decision — as it happened

The share market added almost 1 per cent today after foreign stockmarkets soared, following the US and UK governments seeking to reassure markets of the stability of the global financial system. The US Federal Reserve will give its view of the economy overnight on Wednesday, when it meets to consider…

ABC News

SVB was a hedge fund in disguise–and the banking crisis is an overreaction

The data thus far is telling us not to overreact. Yet, markets have already overreacted. That's an opportunity for savvy investors.

Fortune

ASX gains strongly as RBA confirms it will 'reconsider' a rates pause in April — as it happened

Banks lead US stocks higher amid bailout optimism, as the ASX recovers most of yesterday's fall. Follow the day's events and insights as they happened with our business reporters on the ABC News live markets blog.

ABC News

Why I pulled my startup’s money from SVB the day before the collapse–and what lessons banks and entrepreneurs should learn

SVB believed in big ideas and were willing to place bets on founders of early-stage businesses. 'We are now left with a big void in the startup ecosystem.'

Fortune

First Republic’s shares crash more than 46% after downgraded credit rating

The US bank may need to raise more funds despite a $30bn rescue last week

The Guardian - UK

Bitcoin soars past $28,000 to hit its highest point in 9 months as investors get spooked by the banking sector struggles

The cryptocurrency had previously struggled to maintain momentum past the $25,000 mark.

Fortune

Everyone take a deep breath -- our banks are ok

City Comment: A run on banks used to take weeks. Now it takes hours...

Evening Standard

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The Guardian - AU

Explainer: are we in a banking crisis?

The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing

The Guardian - UK

Silicon Valley Bank’s collapse will not be a one-off – a banking crisis was long overdue

We now know what happens when central banks raise rates and reverse QE

The Guardian - UK

Bank runs, bailouts, rescues: are the ghosts of 2008 rising again?

The travails of Credit Suisse and others have stirred up bad memories for a public still scarred by the financial crisis

AAP

Life360 expects to be cashflow positive by Q2

Family social networking platform Life360 has access to its money at Silicon Valley Bank and expects to start growing its funds next quarter.

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Bangkok Post

Western stocks slide as bank fears return

LONDON: US and European stock markets fell on Friday as fears over the health of the banking system festered despite the latest efforts to shore up troubled lenders and tamp down contagion risks.

The Guardian - UK

Friday briefing: How to understand Credit Suisse, Silicon Valley Bank and fears of a new crisis

In today’s newsletter: We’re far from financial crisis territory, but share crashes have caused some fright in the markets. This is why

The Independent UK

Asian shares up after First Republic aid spurs Wall St rally

Shares have advanced in Asia, tracking a rally on Wall Street after a group of big banks offered a lifeline to First Republic Bank, the lender investors had focused on in their hunt for troubles in the banking industry

Axios

First Republic gets new rescue as fears percolate

Inflationary pressures are boosting rates, which in turn are exposing cracks in the foundation of the global financial system.

The Guardian - US

Biggest US banks weigh rescuing First Republic as its shares tumble – report

Citigroup, Goldman Sachs, JP Morgan and Wells Fargo are among the banks discussing a lifeline for the San Francisco-based lender

The Guardian - UK

ECB faces dilemma over interest rate rise amid Credit Suisse crisis

European Central Bank could opt for a smaller increase as concerns spread over health of banking system

Tribune News Service

Europe, US futures rally on Credit Suisse funding

Futures for European and U.S. equity futures advanced, Asian stocks pared losses and Treasuries fell Thursday as news that Credit Suisse Group AG would borrow money from Switzerland’s central bank provided a measure of calm for investors.

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