Banking crisis

U.S. markets ended in the red on Thursday as concerns regarding the banking sector gained momentum following PacWest Bancorp's (NASDAQ:PACW) move to explore strategic options. PacWest shares closed over 50% lower while Western Alliance Bancorporation (NYSE:WAL) shares lost over 38% on Thursday....

The Senate Banking Committee on Thursday held a hearing on the recent spate of bank failures. Senator Sherrod Brown (D-OH), the Committee Chairman, underscored the importance of heightened accountability for banking executives. He advocated for legislation that would enhance the authority of...

First Horizon Corp. (NYSE:FHN) shares were tumbling in premarket trading on Thursday. First Horizon and TD Bank Group (NYSE:TD) announced that they have agreed to mutually terminate their previously announced $13.4 billion merger agreement. The companies said TD Bank does not have a timetable for...

PacWest Bancorp. (NASDAQ:PACW) shares are on a freefall in premarket trading amid speculation that the Los Angeles, California-based regional bank could be the next domino to fall. PacWest's shares tumbled 39.10% to $3.91 in premarket trading on Thursday. The fall was not as worse as the 50% drop...

The current banking crisis has claimed the scalp of three banks and another is teetering on the brink. Hedge fund manager Bill Ackman, who has been vociferous throughout the development, discussed the crisis again in a lengthy tweet. What Happened: The regional banking system is at risk, said...

Los Angeles, California-based PacWest Bancorp (NASDAQ:PACW) confirmed early Thursday reports about the bank exploring strategic options and assuaged concerns regarding its health. PacWest shrugged off the report by stating that it is normal practice that a company and the board continuously review...

With the Federal Reserve hiking the policy rate by 25 basis points on Wednesday and hinting it could pause rate hikes, gold prices hovered near record highs during Thursday morning Asia session. What Happened: The dollar index was also down 0.24%, supporting the rally in gold as it makes the dollar...

Heather Boushey, a member of the White House Council of Economic Advisers reportedly said that Federal Reserve's interest rate hikes aimed at reining-in inflation were having a negative impact on the banking sector and warned Republicans against worsening the situation with their debt ceiling...

Market commentator Jim Cramer reportedly said there are four main hurdles all investors have to navigate in current times but noted that those who do so effectively will witness a payoff. What Happened: "If it were just one hurdle, we'd be fine," Cramer said, according to a CNBC report. "But with...

Apple, Inc.’s (NASDAQ:AAPL) recently launched high-yielding savings account is a reportedly smashing hit already. What Happened: Apple's savings account with a 4.15% annual percentage yield, has collected as much as $990 million in deposits over its first four days, Forbes reported, citing...

First Republic Bank's (NYSE:FRC) longtime supporter Jim Cramer chimed in on the bank's collapse and the ramification for different stakeholders. What Happened: Hours after the Federal Deposit Insurance Corporation confirmed the shuttering of the San Franciso-based regional bank and the sale of its...

The First Republic Bank (NYSE:FRC) saga is winding to a close with the Federal Deposit Insurance Corporation confirming the shuttering of the bank and the sale of its assets to JPMorgan Chase & Co. (NYSE:JPM). What Happened: San Francisco-based First Republic was closed on Monday by the...

First Republic Bank's (NYSE:FRC) fate appears to have been sealed, and rumors suggest the regional bank will be taken over by the government following which there will be potential suitors for its assets. What Happened: First Republic stock went about a freefall on Friday, dropping 43.3%...

Plug Power, Inc. (NASDAQ:PLUG) shares have fallen about 23% year-to-date, grossly underperforming the broader market. The stock could not be out of the woods yet, according to an analyst at KeyBanc Capital Markets. The Plug Power Analyst: Sophie Karp downgraded Plug Power from Overweight to Sector...

Roger Hallam, global head of rates at Vanguard, reportedly said that tighter lending conditions following the recent bank collapses are likely to push the U.S. economy into a shallow recession in the second half of this year. What Happened: “That backdrop of tightening lending standards is...