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Silicon Valley Bank could be saved as First Citizens swoops in

Published

2 years ago

on

First Citizens BancShares reportedly in talks to acquire Silicon Valley Bank following the collapse of the tech-heavy lender

First Citizens BancShares is in advanced talks to acquire Silicon Valley Bank following the collapse of the tech-heavy financial lender.

First Citizens could reach a deal before the day ends to purchase SVB from the Federal Deposit Insurance Corp.

Executives are yet to confirm or deny the reports.

Sources say no final decision has been made and talks could still fall through.

Of course, just a few weeks ago, few people outside the tech industry had even heard of Silicon Valley Bank.

The midsize California lender imploded – shaking the foundations of the entire global financial system.

As clients withdrew $42 billion in the span of a single day, state and federal regulators swooped in.

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Fed’s signal a “No landing” scenario for the U.S. economy

Published

11 hours ago

on

October 7, 2024

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A “No landing” scenario for the US economy has become more plausible following a significant jobs surge in September.

U.S. job market surged in September with over 254,000 jobs added, surpassing the 150,000 forecasts July and August job numbers revised upward by a combined 72,000 positions.

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Biden is “discussing” support for Israel over Iran oil strike

Published

3 days ago

on

October 4, 2024

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The Biden administration believes it’s still “appropriate” for Israel to continue its ground and air attacks on Hezbollah.

The Middle East is a tinder box as Israel retaliates to Iran’s bombing earlier this week as well as fighting Hamas, Hezbollah and the Houthis in Gaza, Lebanon and Yemen. But what are the economic and geo-political implications? #featured #trending

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Defence shares rise to record high following Middle East attacks

Published

5 days ago

on

October 2, 2024

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Stocks retreated Tuesday, with rising tensions in the Middle East cooling investor momentum after a strong quarter.

Oil prices eased and stocks recovered some ground after initial reports, as hopes grew that damage from the attack and any Israeli response would remain limited.

This market drop underscores the delicate balance between geopolitical risk and economic optimism. #featured #trending

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