U.S. banks large and small are distancing themselves from crypto at a time when the war-torn industry needs all the allies it can get. Last week’s trifecta collapse of the two largest crypto-friendly banks, Silvergate and Signature, as well as the tech-friendly Silicon Valley Bank, left many crypto companies and […]
FOX News
Stuart Varney: Would Biden risk the inevitable backlash from a banking bailout?
During his “My Take,” Wednesday “Varney & Co.” host Stuart Varney addressed the challenges facing Biden as U.S. financial worries heat up after banking fears spread across global markets. Does the president “stop the rot” with a bailout, or does the government let banks fail? STUART VARNEY: First thing this […]
Retail sales tumble 0.4% in February as consumers pull back on spending
Americans pulled back on spending at retail stores in February as demand cooled in the face of stubborn inflation and high interest rates. Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, fell 0.4% in February, the Commerce Department […]
Diamond Sports files for bankruptcy with $8B in debt
Sinclair Broadcast Group Inc.’s regional sports business filed for bankruptcy Tuesday after cord-cutting consumers left the company unable to service its debt and keep paying for the broadcast rights agreements it had with professional sports teams. Diamond Sports Group LLC enters chapter 11 aiming to renegotiate its broadcast contracts with […]
Stock market expert says Fed will pivot and cut rates ‘very shortly’
While U.S. stocks fell sharply as bank concerns spread to Europe on Wednesday, one investor and best-selling author said the Federal Reserve will have to make a big pivot to control “the beast.” “As things get worse and worse, the beast in the market will force the Fed to cut […]
FAA investigates another close call, this time at Reagan National Airport, ahead of safety summit
The Federal Aviation Administration is investigating a recent close call between two planes at Ronald Reagan Washington National Airport in Arlington, Virginia. At around 8:30 a.m. on March 7, Republic Airways Flight 4736 crossed a runway at DCA without clearance. The plane crossed the path of United Airlines Flight 2003, which […]
Chuck Schumer, Dems rush to give back donations from Silicon Valley Bank CEO
Democrats on Capitol Hill rushed to donate or return donations they received from Silicon Valley Bank (SVB) after its dramatic collapse last week. Senate Majority Leader Chuck Schumer gave back a total of $8,500 to charity on Tuesday after receiving the sum in donations from SVB and its former CEO, […]
Wholesale inflation unexpectedly falls 0.1% in February
Inflation at the wholesale level unexpectedly declined in February, a sign that painfully high consumer prices are beginning to loosen their stranglehold on the U.S. economy. The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, fell 0.1% in […]
Investor home purchases drop by almost half – Here’s why that could be good for homebuyers
Investors have increasingly retreated from the housing market due to climbing borrowing costs and the lingering threat of further home price declines, a recent report said. Investor home purchases dropped by 45.8% annually in the fourth quarter, according to a Redfin report. Compared to purchases in the third quarter, investor home […]
Credit Suisse sheds nearly 25%, key backer says no more money
ZURICH – Credit Suisse lost almost a quarter of its value on Wednesday, dropping to a new record low after its largest investor said it could not provide the Swiss bank with more financial assistance. “We cannot, because we would go above 10%. It’s a regulatory issue,” Saudi National Bank […]