The U.S. military successfully evacuated American government employees from the U.S. Embassy in Sudan’s capital, as infighting has killed hundreds of people in the country this month. And an American Airlines plane was forced to turn around mid-flight after one of its engines caught fire. These stories and more highlight the daily rundown for Monday,…

As the dust starts to settle following the collapse of Silicon Valley Bank and Signature Bank in March, economists are warning of cracks in the system that started spreading even before the failures. Under conditions of banking turmoil, some are worried credit tightening will become a credit crunch crisis. No. 1: What is a credit…

As the dust starts to settle following the collapse of Silicon Valley Bank and Signature Bank in March, economists are warning of cracks in the system that started spreading even before the failures. Under conditions of banking turmoil, some are worried credit tightening will become a credit crunch. “I’m getting really nervous now that an economy that I…

An increasing number of banks, large and small, reported tightening credit standards to start off 2023, even before the banking turmoil that began in March. But smaller banks are now getting hit twice as hard as customers move deposits away from regional institutions, which could put some small businesses in further peril. In the week…

The CEO of the largest bank in the U.S. is warning the government to avoid “knee-jerk, whack-a-mole or politically motivated responses,” to the latest bank failures. JPMorgan Chase leader Jamie Dimon has been meeting behind the scenes with regulators and other bank leaders over the past month but commented publicly on the banking crisis for…

On Tuesday, April 4, Richard Branson’s satellite-launching company Virgin Orbit filed for Chapter 11 bankruptcy. The company failed to find a funding lifeline following a launch failure and is now looking to sell its assets. When a public company like Virgin Orbit goes bankrupt, there is no shortage of headlines. But there’s an undercurrent happening…

As the dust starts to settle following the collapse of Silicon Valley Bank and Signature Bank in March, economists are warning of cracks in the system that started spreading even before the failures. Under conditions of banking turmoil, some are worried credit tightening will become a credit crunch. A credit crunch is a decline in lending…

Mere hours before the federal government seized it, Silicon Valley Bank paid out employee bonuses. In response, a bipartisan group of lawmakers have introduced legislation to recoup funds from bank executives in the event of future failures. While the timing appeared suspicious, the SVB bonuses were a part of employees’ annual payout and planned in…

Former President Donald Trump is back in Florida after pleading not guilty to 34 felony counts of falsifying business records. What’s next in the unprecedented criminal case against him? And Nashville police executed a search warrant at the home of the school shooter who killed six people at a Christian private school. These stories and…

Virgin Orbit Holdings Inc. filed for bankruptcy after the satellite launch firm tied to British billionaire Richard Branson failed to secure the funding needed to keep operating and cut 85% of its staff.