What JPMorgan’s Acquisition of First Republic Means for the Banking Industry
The financial industry has been rocked by the recent collapse of several large banks, and regulators are working...
Losses
Losses
UBS-Deal Fallout: Credit Suisse’s Stock Tumbles More Than 60% in Early Trading
On Monday, Credit Suisse’s shares dropped by 61.95% in premarket trading in Zurich following the announcement that UBS...
Crisis-Hit SVB CEO Criticized for Fleeing to $3.1 Million Maui Townhouse
Silicon Valley Bank’s CEO, Greg Becker, has come under scrutiny for his actions leading up to the bank’s...
Virgin Orbit Announces Operational Pause and Employee Furlough Due to Financial Woes
Virgin Orbit, the satellite launch company owned by Richard Branson, announced that it would pause all operations from...
Credit Suisse Receives a $54 Billion Lifeline Amid Fears of Broader Financial Instability
In response to mounting concerns over a potential global banking crisis, Credit Suisse has announced that it will...
SVB Securities mulls buyout of collapsed parent company, Silicon Valley Bank
According to a report by Bloomberg News, the managers of Silicon Valley Bank’s investment banking arm, SVB Securities,...
Ericsson Announces Global Layoffs Affecting 8,500 Workers
Ericsson, a Swedish telecommunications giant, is reportedly planning to cut 8,500 jobs worldwide, which represents roughly 8% of...
Goldman anticipates more losses from legal battles of $2.3 billion
According to a regulatory statement by the investment bank on Friday, Goldman Sachs Group Inc. expects to face...
Bed Bath & Beyond: shutting down Canadian operations, cites financial woes
Bed Bath & Beyond’s Canadian operations have filed for bankruptcy, as they are insolvent and lack the financial...
Yahoo to downsize workforce by 20%, close parts of ad tech business
According to a report from Axios, Yahoo, the Bay Area tech conglomerate owned by Apollo Global Management, plans...