Billionaire investor Peter Thiel says he had tens of millions of dollars in Silicon Valley Bank when the lender was seized by regulators last week, despite his own venture fund warning that the bank could be in trouble. The PayPal co-founder and Republican mega donor has been accused by critics […]
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Ikea recalls over 22K mirrors due to laceration hazard
Ikea is recalling more than 22,00 mirrors that could fall and pose a laceration hazard to customers, according to federal safety regulators. The plastic fittings on Ikea’s LETTAN flat mirrors, which attach the mirror to the wall, have the potential to break and cause the mirror to fall, according to […]
First Republic gets $30 billion rescue from biggest US banks
A group of the nation’s biggest banks swooped in on Thursday afternoon to rescue First Republic Bank with a $30 billion deposit, a move intended to shore up the beleaguered San Francisco lender. The 11 banks include JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Morgan Stanley, U.S. Bancorp, Truist […]
Theater advertiser National CineMedia plans to cede control to lenders
National CineMedia Inc., the largest movie-theater advertising business in North America, is negotiating to hand control to senior lenders as part of a planned bankruptcy filing, people familiar with the matter said. The company, which owes roughly $1.1 billion in debt, is in an extended grace period after missing interest […]
Recession fears rise: More than half of Americans say they’d lose everything
Amid high inflation, many Americans fear the country will slip into a recession this year. About 75% say they worry one is on the way, according to a survey by Real Estate Witch. And 69% of Americans believe the country is in a recession. And more than half (55%) say […]
Silicon Valley Bank collapse will ‘definitely’ impact real estate, developer warns
Real estate could be the next economic crisis for big banks. SILICON VALLEY BANK COMMITTED ‘ONE OF THE MOST ELEMENTARY ERRORS IN BANKING,’ LARRY SUMMERS SAYS During an appearance on “Cavuto: Coast to Coast,” Thursday, Royal Palm Companies CEO Dan Kodsi warned Americans that the Silicon Valley Bank collapse has contributed to […]
Dollar General invests $100M in staffing, store enhancement
Discount retailer Dollar General is planning to invest $100 million in its stores this year, with a primary focus on staffing. “Looking ahead, we are excited about our plans for fiscal 2023, which include continued investment in our strategic initiatives and an incremental investment of approximately $100 million in our […]
FCC adopts first rules cracking down on text messaging scams
The Federal Communications Commission (FCC) announced Thursday that it adopted its first regulations targeting scam text messages sent to consumers. Under the new rules, mobile service providers will be required to block robotext messages that are highly likely illegal and come from phone numbers that are unlikely to transmit text […]
Savings window opens: This week’s personal loan interest rates edge down for 3- and 5-year loans
Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3- and 5-year loans compared to the previous seven days. For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender between March 9 […]
UK bans TikTok on government phones on security grounds
U.K. authorities said Thursday that they are banning TikTok from government devices on security grounds, following similar steps taken by the U.S. and European Union. Cabinet Office minister Oliver Dowden told Parliament that the ban applies with immediate effect to work phones and other devices used by government ministers and […]