Auditors didn’t flag risks building up in banks
Audit firm KPMG LLP flagged potential losses on loans as a critical matter for Silicon Valley Financial but missed the inherent bond losses and unreliable deposits that took the financial institution down, the Wall Street Journal reported.
US corporate bankruptcy filings spiked in March: S&P Global
U.S. corporate bankruptcy filings surged in March according to the latest data from S&P Global, which reports the highest number of filings in the first quarter since 2010.
Banks could begin canceling lines of business credit soon
Small businesses could soon see lines of credit canceled from banks as the global banking crises, inflationary pressures and rising interest rates slow commercial lending.
Bed Bath & Beyond enters into $120M merchandise agreement in bid to stave off bankruptcy
Bed Bath & Beyond announced a $120 million vendor consignment program with ReStore Capital that the struggling retailer hopes will help it keep inventory on the store shelves.
Johnson & Johnson to pay $8.9B to resolve claims baby powder, talc products caused cancer
Johnson & Johnson said Tuesday that it would pay $8.9 billion to resolve all current and future allegations that its baby powder containing talc caused cancer.
Ryan Payne: Chasing gold prices is 'fool's good'
Payne Capital Management President Ryan Payne and Bullseye American Ingenuity Fund portfolio manager Adam Johnson discuss rising gold prices, corporate job layoffs and the markets amid expecting earnings reports.
Richard Branson's Virgin Orbit files for bankruptcy
A major blow to Richard Branson's Virgin Orbit Holdings. It filed for Chapter 11 bankruptcy on Tuesday after the satellite launch company attempted to recover from a rocket failure.
Defense Dept., Air Force 'very late' to 'sound alarm' on China buying US farmland: Sen. Kevin Cramer
Sen. Kevin Cramer, R-N.D., discusses the Senate banking hearing, China national security concerns and energy independence on 'Mornings with Maria.'
Alex Sanchez reacts to banking hearing: 'That's not a good enough answer, Mr. Barr'
Florida Bankers Association President and CEO Alex Sanchez rips Fed Vice Chair Michael Barr's Senate testimony and calls for 'safety and soundness' from regulators.
Amazon reportedly considering purchase of AMC Entertainment
Amazon is reportedly looking into the potential purchase of AMC Entertainment and its chain of movie theaters as a means of boosting its physical marketing presence.
If Fed didn't act on SVB insolvency, 'serious problems' would have arisen: Nellie Liang
Fox News senior congressional correspondent Chad Pergram says a final report on the Silicon Valley Bank collapse will come May 1.
Fed official testifies SVB collapse was textbook case of mismanagement
Fox News senior congressional correspondent Chad Pergram reports from Capitol Hill, where the Senate is holding its first hearing on banking failures.
San Fran Federal Reserve bank was 'asleep at the wheel' before SVB crash: Sen. Steve Daines
Sen. Steve Daines, R-Mont., provides an update after attending the first Senate hearing over recent banking failures.
Fed’s Barr calls Silicon Valley Bank a ‘textbook case of mismanagement’
The FDIC announced on Monday that First Citizens Bancshares Inc. is acquiring large pieces of SVB more than two weeks after the lender’s collapse caused turmoil in the banking system.
SVB collapse should've been 'extremely clear' to regulators: Michael Faulkender
Former Treasury Assistant Secretary for Economic Policy Michael Faulkender calls out federal regulators' 'arrogance' around macroeconomic factors.
Investors add $117B to money market funds amid banking turmoil
Data compiled by Investment Company Institute shows market fund assets ballooned to $5.13 trillion for the week ending on Wednesday, March 22, amid the banking crisis.
Market nerves around bank-run contagion fears 'provides opportunity': Kenny Polcari
Slatestone Wealth chief market strategist Kenny Polcari says the 'hysteria' around the banking system is 'way overdone.'
Deutsche Bank shares sink: What to know
Shares for Deutsche Bank are down Friday amid concerns the German bank will pay higher costs for financial derivatives, called credit default swaps that insure bondholders against banks defaulting on debt.
Florida's red-hot real estate market cooling down: 'Gone are the days of' bidding wars, broker says
Sandals Realty Group broker Amanda Glass says Florida's home sellers are reluctant to list in fear of facing higher mortgages, taxes and insurance costs elsewhere.
Charles Schwab says it could ride out a deposit flight
Charles Schwab’s chief executive, Walt Bettinger, said the brokerage giant could continue to operate even if it lost most of its deposits over the next year.