First Republic up in air as regulators juggle bank's fate Regulators continued their search for a solution to First Republic Bank’s woes over the weekend before stock markets were set to open Monday The Independent UK · Apr 30, 2023
Time running out for US financial firms to bid for ailing bank First Republic Deadline of Sunday set for companies such as JPMorgan Chase to table offer for California bank whose shares have plummeted The Guardian - UK · Apr 30, 2023
Banks submit First Republic bids to FDIC The government hopes to resolve the fate of bank by Monday's open on Wall Street. Axios · Apr 30, 2023
JPM eyes First Republic as FDIC prepares takeover The regional bank has lost 97% of its value since March. Axios · Apr 29, 2023
Spectre of first global credit crunch since global financial crisis emerges as another US bank faces collapse The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year. ABC News · Apr 29, 2023
Strong Earnings Results Boost Stocks What you need to know… The S&P 500 Index ($SPX ) (SPY ) Friday closed up +0.83%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.80%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.65%. Stock indexes Friday posted moderate gains, with the S&P... Barchart · Apr 28, 2023
Stock Market Today: Stocks Swing Higher After Amazon Earnings, Inflation Data The major indexes finished the week higher despite Amazon's warning on cloud growth and mixed inflation data. Kiplinger · Apr 28, 2023
Recent banking crises are rooted in a system that rewards excessive risk-taking -- as First Republic's failure shows First Republic Bank became the second-biggest bank failure in U.S. history after the lender was seized by the Federal Deposit Insurance Corp. and sold to JPMorgan Chase on May 1, 2023. First Republic is the latest victim of the panic that has roiled small and midsize banks since the failure… The Conversation · Apr 28, 2023
The $100 billion meltdown of First Republic could play out 3 ways—and 2 are terrible for shareholders The once high-flying bank has seen shareholders flee as concern mounts that the FDIC may have to step in. Fortune · Apr 28, 2023
First Republic is suddenly in big trouble—but the structural issues date back when CEO Mike Roffler was CFO It was more than the SVB bank run that put First Republic in a vulnerable position, an analyst says. Fortune · Apr 28, 2023
First Republic Bank stock plunges nearly 60% in a week First Republic Bank's stock continued to sink Wednesday, an ongoing rout that has erased 60% of its value just this week on concerns about the bank's financial health in the wake of two other bank collapses. France 24 · Apr 26, 2023
ASX falls, Japan's Kirin to buy Blackmores for $2 billion, Wall St eases as First Republic banking crisis outweighs tech profits — as it happened The Australian share market has fallen for the fifth session in a row, and vitamins firm Blackmores has soared after Japan's Kirin Holdings announced it would buy the natural health company for nearly $2 billion. ABC News · Apr 26, 2023
First Republic’s market value plunges below $1bn from $40bn peak Reports show US govt may not intervene in rescue process and regulators may downgrade bank’s score, compounding stress. Al Jazeera · Apr 26, 2023
First Republic Bank shares plummet, reigniting fears about U.S. banking sector Trading of First Republic Bank shares were halted multiple times today, as investors sold off shares, alarmed by financial disclosures from the bank. WEKU · Apr 26, 2023
Barchart · Apr 26, 2023 Stocks Mixed as Microsoft Leads Tech Higher and First Republic Weighs on Banks What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.02%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.33%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.96%. U.S. stock indexes this morning are mixed, with the...
The Independent UK · Apr 26, 2023 Shares of First Republic Bank continue to slide Shares of First Republic Bank are continuing on their downturn before the market open Wednesday as investors remain jittery about the bank’s financial health
Al Jazeera · Apr 26, 2023 First Republic shares hit record low after depositors pull $100bn First Republic’s stock closes down nearly 50 percent amid questions about San Francisco lender’s future.
The Guardian - US · Apr 25, 2023 First Republic Bank shares fall 50% after reporting dramatic slump in deposits Bank now faces tough options to turn around its business with the creation of a ‘bad bank’ or asset sales possibilities
Kiplinger · Apr 25, 2023 Stock Market Today: UPS, First Republic Earnings Drag on Stocks Dismal guidance from logistics giant UPS and dreary deposit data from regional lender First Republic kept a lid on the major indexes Tuesday.
The Independent UK · Apr 24, 2023 First Republic clients pulled $100B in deposits during panic Depositors at First Republic Bank pulled more than $100 billion in deposits out of the bank during last month’s crisis
Fortune · Apr 11, 2023 Weeks after his ‘big failure’ losing almost $2 billion on SVB, Sweden’s top pension fund chief sacked ‘with immediate effect’ Magnus Billing urged Alecta to “take actions based upon the lessons learned.” The action was his dismissal.
Financial Times · Mar 31, 2023 Lex in depth: how safe are America’s regional banks? After the recent failures of Silicon Valley Bank and others, the FT has analysed more than 100 institutions to identify those that are the biggest cause for concern
Zenger · Mar 28, 2023 One Of The Best Traders In Congress Sells Shares Of Distressed Regional Bank On Day Of Stock Crash Several banks have collapsed in 2023, including Silvergate Capital, Signature Bank and Silicon Valley Bank, unit of SVB Financial
The Independent UK · Mar 28, 2023 Small businesses weigh banking options amid bank turmoil The recent banking turmoil has been a jolt for small businesses of all stripes, spurring many to scrutinize their banking services and mull whether or not they should make changes
Fortune · Mar 27, 2023 Bank failures have 'increased' threats to global financial stability, IMF says Global economic growth was expected to slow this year, but this month's banking crises have raised the risk of even bigger problems.