Global markets mixed as Credit Suisse accepts $54 billion lifeline
By Laura He and Anna Cooban, CNN European markets breathed a small sigh of relief Thursday as beleaguered lender Credit Suisse accepted a loan from…
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Richard Branson’s Virgin Orbit rocket company ceases operations for a week, seeks additional funding
By Jackie Wattles, CNN Virgin Orbit told nearly all of its staff to cease operations until at least next week as the rocket company, founded by…
Continue ReadingThe fate of Credit Suisse could be decided in the next 24 hours
CNN By Mark Thompson, CNN The fate of Credit Suisse could be decided in the next 24 hours after a torrid week for Switzerland’s second biggest…
Continue ReadingMortgage rates drop in wake of bank failures
CNN By Anna Bahney, CNN Mortgage rates dropped this week in the wake of several bank failures, reversing course after rising half a percentage point…
Continue ReadingBig banks experience deposit spike after Silicon Valley Bank collapse
By Matt Egan, CNN Nervous bank customers have rushed to the safety of big banks in the wake of a pair of high-profile bank failures that have shaken…
Continue ReadingDow falls 500 points as banking fears spread
By Krystal Hur, CNN The Dow opened the day with a decline of more than 500 points Wednesday as banking fears spread across global markets, though the…
Continue ReadingFirst Republic Bank stock tumbles on credit downgrade and deposit worries
By Matt Egan, CNN First Republic Bank’s credit rating was downgraded on Wednesday by both Fitch Ratings and S&P Global Ratings on concerns…
Continue ReadingCheez-It and Pringles company gets a new name
By Jordan Valinsky, CNN Business Kellogg has picked a name for its new spinoff companies. They sound a lot like their old names, but with a new spin.…
Continue ReadingBig banks are bidding for troubled First Republic as FDIC deadline looms
CNN By Chris Isidore and Matt Egan, CNN Federal regulators are holding an auction for ailing regional bank First Republic, a person familiar with the…
Continue ReadingBank failures conjure up the dreaded ‘b-word’: Bailout
CNN By Nathaniel Meyersohn, CNN “Bailout” became a curse word in American politics following the 2008 global financial crisis, fueling…
Continue ReadingBank failures conjure up the dreaded ‘b-word’: Bailout
By Nathaniel Meyersohn, CNN “Bailout” became a curse word in American politics following the 2008 global financial crisis, fueling…
Continue ReadingWhy banking fears just came roaring back
By Allison Morrow, CNN Credit Suisse, the giant, 167-year-old European bank, was teetering on the brink of failure Wednesday, stoking anxieties about…
Continue ReadingKey inflation measure shows wholesale prices fell last month
By Alicia Wallace, CNN A key measure of inflation fell dramatically in February, according to the latest Producer Price Index, which tracks what…
Continue ReadingAmericans pulled back on their spending in February, after a strong January
By Alicia Wallace, CNN Americans pulled back on their spending last month after a surprisingly spendy January. US retail sales fell 0.4% in February…
Continue ReadingAmericans pulled back on their spending in February, after a strong January
CNN By Alicia Wallace, CNN Americans pulled back on their spending last month after a surprisingly spendy January. US retail sales fell 0.4% in…
Continue Reading‘The next AOL?’: Meta’s massive layoffs raise questions about Zuckerberg’s strategy as company morale sinks
CNN By Oliver Darcy, CNN “A challenging period.” That’s how Mark Zuckerberg described in a memo what the near future will be like…
Continue ReadingThe forgotten rescue plan that could prevent another SVB-like collapse
By Nicole Goodkind, CNN After Silicon Valley Bank and Signature Bank failed, the US government stepped in with an extraordinary measure to rescue…
Continue ReadingUK extends household energy subsidies for another three months
By Anna Cooban and Olesya Dmitracova, CNN The UK government will cap energy costs for millions of households for another three months following…
Continue ReadingUK tries to juice its economy once again as banking storm clouds gather
By Hanna Ziady, CNN UK financial markets were spooked again Wednesday — although, unlike last fall, the turmoil was unrelated to a new government…
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Credit Suisse borrows more than $50 billion from Swiss National Bank after shares crash 30%
By Mark Thompson and Anna Cooban, CNN Hours after the Swiss central bank said it was ready to provide financial support to Credit Suisse, the…
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