US stems SVB fallout by backing customer deposits

WASHINGTON (Reuters) -Silicon Valley Bank customers will have access to their deposits starting on Monday, U.S. officials said on Sunday, as the federal government announced actions to shore up deposits and stem any broader financial fallout from the collapse of the tech startup-focused lender.

newspaper

12-03-2023

US marshalling 'material action' to stem SVB fallout -sources

NEW YORK (Reuters) -U.S. authorities were preparing "material action" on Sunday to shore up deposits in Silicon Valley Bank (SVB) and stem any broader financial fallout from its sudden collapse, sources familiar with the matter told Reuters.

newspaper

12-03-2023

US preparing to stem SVB fallout with 'material action'-sources

NEW YORK (Reuters) -U.S. authorities were preparing "material action" on Sunday to shore up deposits in Silicon Valley Bank and stem any broader fallout from its collapse, sources familiar with the matter told Reuters.

newspaper

12-03-2023

Yellen seeking solution for Silicon Valley Bank as industry frets about fallout

NEW YORK (Reuters) -U.S. Treasury Secretary Janet Yellen said she was working with regulators to respond to the collapse of Silicon Valley Bank but ruled out a bailout, as fears of a broader fallout across the banking sector deepened.

newspaper

12-03-2023

Saudi Aramco reports record profit of $161.1 billion in 2022

Saudi Arabian oil giant Aramco on Sunday reported a record net profit in 2022, boosted by higher energy prices, increased volumes sold and improved margins for refined products.

newspaper

12-03-2023

Regulators urged to find Silicon Valley Bank buyer as industry frets about fallout

Some financial industry executives and investors were growing increasingly concerned on Saturday that the collapse of Silicon Valley Bank could have a domino effect on other U.S. regional banks if regulators did not find a buyer over the weekend to protect uninsured deposits.

newspaper

12-03-2023

China chooses continuity, retaining central bank chief, finance minister

BEIJING (Reuters) -China kept its central bank governor and finance minister in their posts on Sunday, an unexpected move at the annual session of the rubber-stamp parliament prioritising continuity as economic challenges loom at home and abroad.

newspaper

12-03-2023

Panama minister expects contract with First Quantum will get green light

(Reuters) -Panama's trade minister expects the remaining authorities in the Central American nation will approve the text of an agreement reached with Canada's First Quantum Minerals to regulate its operations at a major copper mine.

newspaper

10-03-2023

Panama minister trusts contract with First Quantum will get green light

Panama's trade minister said Friday he trusts the remaining Panamanian authorities will approve the text of a deal reached with Canada's First Quantum Minerals to regulate their operations in a major copper mine.

newspaper

10-03-2023