Simone Del Rosario
More from Simone Del Rosario
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Will federal regulators secure deposits at all failing banks like they did at SVB?
Treasury Secretary Janet Yellen attempted to assure banking institutions on Tuesday that the U.S. is prepared to step in and help smaller banks facing bank runs that pose the risk of contagion. It was a more direct sign of support than she gave in testimony to senators last week. One week ago, federal regulators took… -
Why are banks collapsing and is your money safe in the bank?
Since the swift collapse of Silicon Valley Bank, the entire banking system has been in turmoil. The news of failed and struggling banks has left millions of Americans with pressing questions. Some of the breakout searches on Google this past week include: What caused the banking crisis? Are we headed for a depression? Is my money… -
How Silicon Valley Bank collapsed in less than 48 hours
It took less than 48 hours for Silicon Valley Bank to fall from the preferred startup and venture capital bank with $200 billion in assets to being irreparable. Since its collapse and federal takeover, fears have spread throughout the global banking sector, leading to closures of other banks. The California bank was a bit of… -
Is your money safe in the bank after Silicon Valley Bank failure?
When Silicon Valley Bank collapsed, more than 90% of its accounts were uninsured. Federal regulators took extraordinary measures to secure customers’ uninsured deposits at both SVB and Signature Bank, but Treasury Secretary Janet Yellen has warned not all banks will get the same treatment. Yellen told senators that uninsured bank deposits would only be secured… -
Exclusive: Ex-Credit Suisse director says UBS deal could worsen bank contagion
As banking turmoil spreads around the world, over the weekend Switzerland’s largest bank agreed to buy its struggling rival, Credit Suisse, in a deal worth $3.25 billion. Credit Suisse has faced its share of troubles for years, but the stunning end to the 166-year-old institution is continuing to shake markets. Swiss authorities cut a deal… -
5 big names that banked with SVB before collapse, from Roblox to Roku
The collapse of Silicon Valley Bank caught some high-profile analysts off guard. The former 16th-largest bank in the nation may not have been a household name, but some household names banked there. The entire situation could have taken a toll on the tech sector, but thanks to U.S. regulators, depositors have already regained access to their… -
Google and Facebook could block news in Canada if Online News Act passes
Tech companies are threatening to pull news articles from their websites in Canada as legislation advances that would force them to pay news publishers for their content. Bill C-18, called the Online News Act, would mandate revenue-sharing agreements between Google, Facebook-parent-company Meta, and established news organizations. This week, Meta warned it would get out of… -
Why Credit Suisse is the latest bank to face trouble this week
Days after two U.S. banks failed, a Swiss bank is now in crisis. Credit Suisse shares sank as much as 30% Wednesday, hitting a new record low and dragging down global markets already jittery from bank instability. The fallout is not related to the demise of Silicon Valley Bank and Signature Bank, but the timing… -
Consumer prices keep surging in February, annual inflation at 6%
Monthly consumer prices rose at the fast clip of 0.4% in February, easing slightly from the 0.5% increase in January, according to the latest data from the Bureau of Labor Statistics. The annual rate of inflation slowed to 6%, down from January’s 6.4%. February’s results were in line with expectations of economists polled by Dow… -
Feds scramble to contain Silicon Valley Bank contagion. ‘Banking system is safe.’
It only took 48 hours for Silicon Valley Bank, formerly the nation’s 16th largest bank, to collapse. Then Signature Bank followed suit, while First Republic Bank and others showed signs of contagion. SVB, with roughly $200 billion in deposits, became the second biggest bank failure in U.S. history last week. This week, regulators are scrambling to… -
Biden pushes for more regulation after Silicon Valley Bank collapse
President Joe Biden on Monday said the U.S. banking system is safe in the wake of the collapse of Silicon Valley Bank and Signature Bank. The banking failures caused concerns of broader contagion in the sector. “Americans can have confidence that the banking system is safe,” Biden said before departing on a trip to the West… -
As Funko destroys $36M in toys, here’s why these 5 companies trash merch
Excess inventory can be a real problem for large companies as they attempt to make room for new items in overflowing warehouses. Sometimes corporations conclude the best business solution (but questionable environmental decision) isn’t simply marking down prices. Here are five companies that sent their own merchandise to the dump to help the bottom line… -
TikTok ban gains White House support but could face constitutional challenges
After shooting down China’s spy balloons in the sky, the government is now setting its sights on TikTok, the popular Chinese app. The White House is backing a new bipartisan bill introduced this week that would allow the federal government to regulate and ban foreign-produced technology deemed a national security risk. “In terms of foreign…
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