French President Emmanuel Macron arrives to attend the National Roundtable on Diplomacy at the Foreign Ministry in Paris on March 16, 2023. Michel Euler | Afp | Getty Images The government of French President Emmanuel Macron narrowly survived a no-confidence vote Monday evening, as furious opposition lawmakers contested his decision […]
CNBC News
FDA staff says Biogen’s ALS drug may have a ‘clinical benefit’ on a rare form of the disease
U.S. Food and Drug Administration staff on Monday said Biogen’s investigational ALS drug may have a “clinical benefit” on a rare and aggressive form of the disease, despite failing a broader late-stage clinical trial last year. The staff made the conclusion in briefing documents ahead of a meeting on Wednesday […]
JPMorgan advising First Republic on strategic alternatives, including a capital raise, sources say
JPMorgan Chase is advising embattled First Republic Bank on strategic alternatives, sources told CNBC’s David Faber. The alternatives may include a capital raise, the sources said, which could dilute current shareholders. A sale of the bank is also a possibility. First Republic shares were last down 30% in a volatile […]
JPMorgan Chase can be sued by Virgin Islands over Jeffrey Epstein sex trafficking claims
People inside the offices of JP Morgan Chase in New York City. Getty Images A New York federal judge on Monday ruled that the U.S. Virgin Islands and women who accuse the late investor Jeffrey Epstein of sexual abuse can proceed with a lawsuit claiming that JPMorgan Chase knowingly benefited […]
Stocks making the biggest moves midday: First Republic, UBS, Virgin Orbit, Dell and more
A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. Mike Segar | Reuters Check out the companies making the biggest moves midday: First Republic — Shares tanked nearly 30% after Standard & Poor’s cut First Republic’s credit […]
Virgin Orbit scrambles to avoid bankruptcy as deal talks continue
Virgin Orbit’s LauncherOne rocket on display in Times Square, New York. CNBC | Michael Sheetz Virgin Orbit is scrambling to secure a funding lifeline and avoid bankruptcy, which could come as early as this week without a deal, CNBC has learned. The rocket builder paused operations last week and furloughed […]
Trump seeks to block Georgia election interference criminal charges
Former President Donald Trump in new court filings Monday sought to block him and various allies from potential prosecution for crimes related to his efforts to reverse his loss to President Joe Biden in Georgia’s 2020 election. Trump asked a judge to quash the report of a special grand jury […]
Amazon to lay off 9,000 more workers in addition to earlier cuts
Amazon will lay off 9,000 more employees in the coming weeks, CEO Andy Jassy said in a memo to staff on Monday. The cuts are on top of the previously announced layoffs that began in November and extended into January. That round totaled more than 18,000 employees, and primarily affected […]
The Federal Reserve is still expected to go through with a rate hike. What that means for you
Rate hikes, one year later For its part, the Fed has already hiked its benchmark fund rate eight times over the last year to its current level between 4.5% and 4.75%. The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow […]
First Republic continues tanking, but other regional banks are rallying on Monday
A trader works at the post where First Republic Bank stock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, March 16, 2023. Brendan McDermid | Reuters Shares of First Republic Bank, which have become the barometer of the regional bank crisis, slid […]