Pacific Western Bank faced ‘elevated’ withdrawals after bank failures
(Reuters) – Pacific Western Bank, a unit of PacWest Bankcorp, said on Friday it had witnessed ‘elevated’ withdrawals following the…
Business
Five trades from hedge funds to navigate US-China tensions
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON (Reuters) – Hedge funds are watching growing U.S.-Chinese geopolitical tensions and…
Bridgewater, Millennium, and Marshall Wace in bearish bet on Europeans banks
By Nell Mackenzie and Pablo Mayo Cerqueiro LONDON (Reuters) -Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to…
Swiss central bank throws financial lifeline to Credit Suisse after shares pummelled
By Noele Illien, John Revill and Tom Sims (Reuters) – Swiss regulators pledged a liquidity lifeline to Credit Suisse in…
U.S. consumer finance watchdog opens inquiry into data brokers
By Hannah Lang (Reuters) – The U.S. consumer finance watchdog launched an inquiry on Wednesday to examine companies that track…
Short sellers may pocket $2.3 billion from U.S. bank rout over last three days -S3 Partners
(Reuters) – Short sellers may have raked in $2.29 billion in profit in the past three sessions, as they took…
A new surprise for U.S. savers: Turn 529s into retirement money
By Chris Taylor NEW YORK (Reuters) – When financial planner Larry Pon started reading about the SECURE 2.0 Act that…
Hedge funds stand to lap up bearish profits from bank stock rout
By Nell Mackenzie LONDON (Reuters) – Hedge funds ended last week positioned to scoop up winning profits from bearish positions…
Silicon Valley Bank is largest failure since 2008 crisis, billions stranded
By David French, Echo Wang and Alun John (Reuters) – Startup-focused lender SVB Financial Group became the largest bank to…
After Silicon Valley Bank’s shutdown, uninsured depositors face tense wait
By Pete Schroeder WASHINGTON (Reuters) – Silicon Valley Bank’s high level of uninsured deposits helped kick off the run that…