The deal will see First Citizens Bank purchase approximately $72 billion of SVB assets at a discount of $16.5 billion.
Category: Finance News
‘The first bank crisis of the Twitter generation’: The pressure on banks is very different to 2008
Credit Suisse and Silicon Valley Bank may have collapsed but a financial crash today would be very different to the 2008 crisis.
Pfizer signs agreement with China on improving health coverage in the country
U.S. pharma giant Pfizer has signed an agreement with China to cooperate on improving the country’s health coverage, according to the company.
China’s debt-heavy local governments look for new ways to raise cash
Debt-heavy local governments in China need new ways to raise money under a central regime keen on reducing financial risks.
Millennials’ travel habits are changing — partying is out, these 3 things are in
Middle-aged millennials have arrived. And they’re bringing their tech-savviness, social consciousness and spending habits in tow, which is transforming a travel industry intent on staying ahead of the times.
‘Sell into rallies’: Morgan Stanley names the stocks to navigate current European banking jitters
Morgan Stanley strategists recommend 10 defensive stocks to own right now while selling European bank stocks “into any material rally”.
More millennials are turning 40 — and they’re changing travel as we know it
As more millennials turn 40, the travel industry is focusing on meeting their tech and wellness needs as well as their growing families.
Deposit drain from smaller banks into financial giants like JPMorgan Chase has slowed, sources say
Uncertainty caused by the collapse of Silicon Valley Bank this month triggered outflows and plunging share prices at peers including First Republic and PacWest.
Bank turmoil is boosting appetite for specific sector ETFs. Here’s why
It appears a certain group of ETFs is gaining popularity as a way to cushion financial system upheaval.
Inside a $218 million private island in Palm Beach — Florida’s most expensive home for sale
Developers built a brand new house on Tarpon Isle, turned the existing structure into a guest house, and added a giant pool, tennis courts and other amenities.