First Republic Bank has been seized by the Federal Deposit Insurance Corporation (FDIC), which announced on Monday morning that the beleaguered bank is being bought by JPMorgan Chase. California financial regulators on Monday ordered First Republic Bank closed, with the FDIC appointed as receiver. “To protect depositors, the FDIC is entering into a purchase and…
IN-DEPTH: First Republic Bank Fights for Survival
San Francisco-based First Republic Bank is fighting for survival, with its shares staging a sharp relief rally early Thursday morning, though some of it faded in later trading as investors consider what’s next for the beleaguered bank. Shares of First Republic popped nearly 20 percent in volatile trading on Thursday morning following a sharp selloff…
LIVE 5 PM ET: NTD Business (April 25): GM ending production of Chevy bolt EV; First Republic Bank Shares Plummet nearly 50%
April 25, 2023
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Shares of First Republic Bank plummeted today, after it revealed massive withdrawal of deposit in the last quarter, it’s also laying off workers. The cheapest American EV is going away. Stay tuned to find out why GM is ending the production. Manufacturing giant 3M announcing a major layoffs today—how many are they letting go, and…
LIVE 5 PM ET: NTD Business (April 25): GM Ending Production of Chevy Bolt EV; First Republic Bank Shares Plummet Nearly 50 Percent
April 25, 2023
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3MbidenBusiness & MarketsChatGPTchevy bolteconomic policieseconomyEpochTVFirst Republic BankGeneral MotorsInvestmentLive VideosMarketsNTD BusinessSilicon Valley BankUSVideo
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Shares of First Republic Bank plummeted Tuesday, after it revealed a massive withdrawal of deposits in the last quarter. It’s also laying off workers. The cheapest American EV is going away. Find out why GM is ending the production. Manufacturing giant 3M announced major layoffs Tuesday—how many are they letting go, and why? In its…
First Republic Shares Crash Following Massive Deposit Outflows
First Republic Bank announced “unprecedented deposit outflows” in the quarter ended March 31, with the news sending the company’s stock crashing by over 20 percent. For the quarter ended March 31, 2023, First Republic deposits have declined by 40.8 percent since Dec. 31, 2022, according to an April 24 press release (pdf) by the bank….
US Lawmakers Went on Bank Stock-Selling Spree Amid Banking Crisis
Dozens of members of Congress and their close relatives continued to sell off banking stocks amid the extreme financial turbulence in March prompted by the collapse of Silicon Valley Bank (SVB), according to an analysis by Capitol Trades. Many of the selloffs came at the same time as some of the lawmakers were actively meeting with banking…
Billionaire Investor ‘Extremely Concerned’ About Financial Contagion Risk After First Republic Rescue
March 17, 2023
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Billionaire investor Bill Ackman said he is “extremely concerned” by the federal government-backed infusion of $30 billion to First Republic Bank by 11 of the top banks, saying the plan will create a “false sense of confidence” and risks the spread of contagion. On Thursday afternoon, 11 banks—including JPMorgan Chase, Wells Fargo, Citibank, and Bank…
LIVE NOW: NTD Good Morning (Mar. 17): Illegal Immigrants Jump Ship to Evade Arrest; Iowa Passes Bill to Ban Transgender School Bathrooms
Over 25 lbs. of cocaine and a gun were found after a group of 16 illegal immigrants jumped off a boat into the ocean. They were apparently stowaways aboard a cargo ship headed to Puerto Rico. Transgender bathroom use is in the spotlight again. Both the Iowa House and Senate have approved a bill on…
NTD Good Morning (Mar. 17): Illegal Immigrants Jump Ship to Evade Arrest; Iowa Passes Bill to Ban Transgender School Bathrooms
Over 25 lbs. of cocaine and a gun were found after a group of 16 illegal immigrants jumped off a boat into the ocean. They were apparently stowaways aboard a cargo ship headed to Puerto Rico. Transgender bathroom use is in the spotlight again. Both the Iowa House and Senate have approved a bill on…
NTD Good Morning (March 17): Illegal Immigrants Jump Ship to Evade Arrest; Iowa Passes Bill to Ban Transgender School Bathrooms
Over 25 lbs. of cocaine and a gun were found after a group of 16 illegal immigrants jumped off a boat into the ocean. They were apparently stowaways aboard a cargo ship headed to Puerto Rico. Transgender bathroom use is in the spotlight again. Both the Iowa House and Senate have approved a bill on…
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