Fresh out of prison in 1994 New York and struggling to reestablish meaningful connections to her past, a hairdresser named Inez begins asking questions in the neighborhood about her son, Terry, who was taken from her by the authorities and placed in a foster home. . Turns out he fell out the window and was … Read more
Wall Street’s average bonus fell 26% last year, the biggest percentage drop since the financial crisis, as a trading slump slashed bankers’ pay. Financial employees received average bonus checks of $176,000 last year, up from a record high of $240,000 a year earlier, the New York state comptroller’s office said in a report Thursday. The … Read more
Regional banks shouldn’t be the only cause for concern over the potential fallout from the rapid pace of Federal Reserve interest rate hikes over the past year, a former top banking regulator said. “I don’t see regional banks as having a particular problem,” said Sheila Bair, who ran the Federal Deposit Insurance Corp. from 2006 … Read more
Good morning! Welcome to Distributed Ledger. Meet Frances Yue, crypto reporter at MarketWatch. Coinbase crypto exchange PIECE OF MONEY said Wednesday that he received a Wells notice from the Securities and Exchange Commission, which could lead to formal charges. The SEC’s Wells notice related to an unspecified portion of the exchange’s listed digital assets, its … Read more
As of 4 p.m. ET, the Dow Jones Industrial Average added about 380 points, or 1.2%, and the S&P 500 rose 0.9%. The technology-focused Nasdaq Composite climbed 0.4%. The indices fell on Friday but have been relatively insulated from the banking crisis so far. Authorities sought to stem a dangerous decline in confidence in the … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Bank of the First Republic FRC 26.98% and other regional lenders clawed back some losses after their worst selloff in three years, in a volatile trading session that reflected how investors were still pricing in regulators’ emergency measures to contain a banking crisis. Shares of First Republic, which slumped on Monday, closed up around 27% … Read more
Bitcoin is off to its best three-day performance since October 2019 as the collapse of three US banks in one week fueled hopes among some investors that the Federal Reserve may need to take a less aggressive approach with its rate hikes of interest. The biggest cryptocurrency BTCUSD Tuesday hit its highest level since June … Read more
After a frantic weekend of regulators to the rescue that sparked a rally for US stock futures on Sunday night, the mood turned more cautious, with the exception of tech futures still celebrating. Is that many banks are in the red before the opening on Monday. Nervous investors may be wary of more shoes dropping … Read more
Posted: March 10, 2023 1:55 PM ET DocuSign shares fell on Friday after Wall Street said an ongoing reorganization of the electronic signature company would likely cause near-term turbulence, although it beat expectations for the quarter. Shares of DocuSign DOCU fell 20% to an intraday low of $53.71, and were last down 19%. Shares also … Read more
