Ron DeSantis and Arsenal Football Club have a shared affliction: they are almost certainly not going to win anything this season. The Florida governor’s nascent presidential bid has been hit by his own declining poll ratings against Donald Trump, and a flurry of endorsements for the former president from legislators from DeSantis’s own state. Arsenal’s
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In this article PACW SOFI TDC JPM CMCSA SMG LOG.N-CH Follow your favorite stocksCREATE FREE ACCOUNT NEW YORK, NEW YORK – APRIL 24: A person walks past a First Republic bank branch in Manhattan on April 24, 2023 in New York City. The U.S. bank will reveal its latest financial results but concerns over small
Texas voters will decide the fate of 246 bond propositions totaling $26.67 billion on Saturday as the amount of debt on ballots continues a climb driven by public school district construction projects. Schools account for 92.5% of the property tax-backed debt in the upcoming election, according to Texas Bond Review Board data. Their new proposals
JPMorgan Chase emerged as the winner in the auction to acquire the deposits and a “substantial majority of assets” of the troubled bank First Republic. This marked the failure of the third regional bank in the United States since March and laid open the vulnerabilities in the legacy banking system. Meanwhile, Bitcoin (BTC) has risen
Bitcoin (BTC) headed toward $28,000 support after the May 1 Wall Street open as markets digested fresh United States banking jitters. Suspicions mount over First Republic contagion Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to multi-day lows at the time of writing. The pair continued a comedown that began after the weekly
Litecoin fell below the $90.00 level on Monday, as sentiment in cryptocurrency markets remained mostly bearish. The global market cap is down 1.87% at the time of writing, which seems to be a result of the upcoming Federal Reserve interest rate decision. Solana was also in the red today. Litecoin (LTC) Litecoin (LTC) was down
Experts predict the Federal Reserve likely will approve a quarter-percentage-point interest rate increase this week. This 0.25 percentage point hike will mark the 10th time the Fed has raised its benchmark interest rate over the past year or so, the fastest pace of tightening since the early 1980s. Consumers are now paying more to borrow while still
Bitcoin (BTC) saw considerable volatility between April 25 and May 1, ranging between $27,200 and $30,000. From a trading perspective, the 10.5% move sounds alarming, resulting in $340 million in leveraged BTC futures contract liquidations. However, from a broader angle, Bitcoin price is up 72% year-to-date in 2023, while the S&P 500 stock market index
Brooke Masters, Stephen Gandel, James Fontanella-Khan in New York and James Politi and Colby Smith in Washington JPMorgan Chase is to acquire most of First Republic after US regulators orchestrated an overnight deal to shut the embattled California lender, wiping out its shareholders in the second-biggest bank failure in the country’s history. The Federal Deposit
In the end, after weeks of uncertainty and a final round of talks that dragged through the night, the fate of First Republic came down to JPMorgan Chase. Jamie Dimon’s Wall Street institution had been central to discussions about the distressed California lender since First Republic emerged as a weak spot in the banking sector
The writer is an FT contributing editor Sometimes we get what we need, not what we want. The US (and possibly the global) economy needed a solution to First Republic Bank’s impending failure, and it got one. Once again, JPMorgan Chase stepped up and bought another bank. The acquisition should stem major contagion to the
On May 1, cryptocurrency exchange OKX announced that it would be listing memecoin Pepe (PEPE) at 17:00 Hong Kong Time (HKT) and open Pepe withdrawals on May 2 at 17:00 HKT. In supporting the listing decision, OKX staff wrote: “Pepe the Frog is a cartoon character and internet meme created by cartoonist Matt Furie. Pepe
Vodafone risks looking tone-deaf. After a four-month selection process, the telecoms company has chosen an internal candidate as its new chief executive. The elevation of former finance director Margherita Della Valle will disappoint investors hoping for some outside fairy dust to transform the fortunes of the telecoms group. Della Valle will need to make some
Layer-2 blockchain protocols have been in the spotlight in 2023, bringing major performance improvements to a variety of platforms and services operating in the Ethereum (ETH) ecosystem. Zero-knowledge proofs have been key in the roll-out of a variety of layer 2s, with the technology pioneered by the decentralized scaling network Starknet. StarkWare, the technology firm behind
The Federal Deposit Insurance Corp. placed First Republic Bank into receivership on Monday morning, and JPMorgan Chase has acquired much of the San Francisco bank, ending a frantic week as regulators scrambled to arrange a last-minute rescue. The bank was closed by the California Department of Financial Protection and Innovation overnight and handed to the
Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal government. Despite the potential challenges, Munger emphasized that the
The Kingdom of Bhutan is bullish on Bitcoin (BTC). Following the revelation that the small Himalayan Kingdom has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations. Known for its focus on “Gross National Happiness” and picturesque landscapes,
Singapore’s government-owned investment firm Temasek continues investing in cryptocurrency projects even after losing hundreds of millions of dollars to the collapsed FTX crypto exchange. Temasek has invested $10 million in Array, the developer of an algorithmic currency system based on smart contracts and artificial intelligence. Announcing the news on May 1, Array said that the
Shares in US regional banks were under pressure on Monday after regulators mobilised a deal for JPMorgan Chase to buy struggling lender First Republic. Citizens and PNC both dropped more than 5 per cent shortly after the opening bell, while shares in PacWest traded choppily. The KBW regional bank index slid by 0.8 per cent.
Your biweekly roundup of cool AI stuff and its impact on society and the future. The past two months have seen a Cambrian explosion in the capabilities and potential of AI technology. OpenAI’s upgraded chatbot GPT-4 was released in mid-March and aced all of its exams, although it’s apparently a pretty average sommelier. Midjourney v5
In this article GM JPM FRC Follow your favorite stocksCREATE FREE ACCOUNT A view of the First Republic Bank logo at the Park Avenue location, in New York City, March 10, 2023. David Dee Delgado | Reuters Check out the companies making headlines before the bell: First Republic Bank, JPMorgan Chase — First Republic shares