Category Archives: Syndicated

Stock futures rise slightly after Nasdaq falls for a second day: Live updates

(CNBC) U.S. stock futures ticked higher Tuesday night after the major averages declined on the back of higher bond yields. Dow Jones Industrial Average futures rose by 41 points, or 0.13%. S&P 500 and Nasdaq 100 futures climbed 0.14% and […]

Sam Bankman-Fried paid over $40 million to bribe at least one official in China, DOJ alleges in new indictment

(CNBC) FTX co-founder Sam Bankman-Fried paid out tens of millions of dollars worth of bribes to at least one Chinese government official, federal prosecutors alleged in a new indictment Tuesday. The indictment said accounts belonging to Bankman-Fried’s hedge fund, Alameda […]

Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits

(CNBC) Jamie Dimon, the veteran JPMorgan Chase CEO and chairman, will be deposed over his bank’s links to disgraced former financier Jeffrey Epstein, according to a person with knowledge of the matter. Dimon agreed to be interviewed under oath, at an […]

SVB customers tried to withdraw nearly all the bank’s deposits over two days, Fed’s Barr testifies

(CNBC) The run on Silicon Valley Bank’s deposits this month went far deeper than was initially known. Since the day regulators seized SVB, it was public knowledge that panicked customers withdrew $42 billion from the bank on March 9 on […]

Elliot ditches plans for Salesforce proxy battle

(Hedgeweek) Activist hedge fund Elliot Investment Management has decided not to proceed with its planned director nominations at Salesforce Inc, after a rise in the company’s stock price and the initiation of a series of strategic changes at the enterprise […]

Hedge funds dump US banking stocks

(Hedgeweek) Global hedge funds’ exposure to US banking stocks has hit a near 10-year record low as the turmoil in the sector triggered by the demise of Silicon Valley Bank and Signature Bank, and the ‘rescue’ of Credit Suisse by […]

Stock futures tick higher on Monday evening: Live updates

(CNBC) Stock futures inched higher in overnight trading after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Lyft shares gained after hours as the ridesharing company announced a new CEO […]

Disney layoffs will begin this week, CEO Bob Iger says in memo

(CNBC) Disney will begin layoffs this week, the first of three rounds before the beginning of the summer that result in about 7,000 job cuts, according to a memo sent by Chief Executive Bob Iger. The cuts are part of […]

Fed’s Barr calls Silicon Valley Bank failure a ‘textbook case of mismanagement’

(CNBC) The Federal Reserve’s top banking regulator said Monday that the failure of Silicon Valley Bank was due largely to mismanagement, though he noted that regulation and oversight also need to step up. Fed Governor Michael Barr, the central bank’s […]

Here’s why the U.S. had to sweeten terms to get the SVB sale done

(CNBC) The winning bidder in the government’s auction of Silicon Valley Bank’s main assets received several concessions to make the deal happen. First Citizens BancShares is acquiring $72 billion in SVB assets at a discount of $16.5 billion, or 23%, […]

Lyft CEO and president to step down, former Amazon exec David Risher named as replacement

(CNBC) Lyft’s cofounders, CEO Logan Green and president John Zimmer, will soon step back from their day-to-day roles, the company announced on Monday. David Risher, a former retail executive at Amazon, will be CEO of the ridesharing company beginning April […]

Stock futures are up as Wall Street looks to build on winning week: Live updates

(CNBC) Stock futures edged higher Sunday evening as Wall Street came off a winning week and investors continued to follow the troubling bank sector.Futures tied to the Dow Jones Industrial Average added 132 points, or 0.4%. S&P 500 futures gained […]