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The Latest Breaking News on Financial Services

Why First Republic failed. Are other banks to follow?

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks

The Independent UK

First Republic's failure may lead to other woes

Struggling banks — even if they're not failing — are bad news for economic growth.

Axios

Kiwi banks at odds with Aussie bosses over gambling on credit

Australian banks are supporting a Canberra government ban on gamblers using their credit cards to bet online. Their Kiwi subsidiaries are taking quite a different position.

Newsroom.co.nz

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First Republic Bank collapses, seized

"Ultimately taxpayers will be on the hook," Sen. Elizabeth Warren warned

Salon

Full list of 76 bank branches that will shut FOREVER this month including HSBC, Halifax & TSB

According to Which? since 2015 over 5,500 bank and building society branches have shut their doors as more people shift to online services to manage their money

Daily Mirror

Is my money safe? What you need to know about bank failures

Recent bank failures may have you worried about your money

The Independent UK

Five Places to Put Cash Rather Than in the Bank

FDIC sweep programs, money market funds, Treasuries and more could be alternative places to stash cash instead of keeping it in the bank.

Kiplinger

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JP Morgan boss plays down risk of crisis after second biggest bank failure in US history

Jamie Dimon’s remarks follow $10.6bn takeover brokered by US regulators to buy most of failed First Republic

The Guardian - UK

First Republic Bank seized by US regulators and sold to JP Morgan Chase

Drastic intervention to contain third US bank failure in two months

The Independent UK

JPMorgan Chase buys troubled First Republic Bank after U.S. government takeover

JPMorgan Chase is taking over First Republic after the troubled bank was placed in the FDIC's receivership in the latest failure in the banking system.

WEKU

London hotel named in honour of the King's big day

London Bank's Premier Inn has had a new signage - and has been renamed the "Cor-Inn-nation", in honour of the special day.

Wales Online

US authorities 'auction' First Republic Bank to JPMorgan after second biggest bank failure in history

US regional bank First Republic had a little more than $301 billion worth of assets and around 7,000 employees.

ABC News

Barclays bank put my £350,000 out of reach after Brexit changes

I am out of work and need it but it shut down my account here in Spain

The Guardian - UK

First Republic in limbo as US regulators juggle bank's fate

Regulators are searching for a solution to First Republic Bank’s woes, hoping to find a way forward before U.S. stock markets open Monday

The Independent UK

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The Independent UK

Stock market today: Tokyo gains, most Asian markets closed

Shares have advanced in Tokyo and Sydney while most Asian markets were closed for May 1 holidays

Chicago Sun-Times

First Republic Bank’s fate is up in air as regulators seek a solution to its woes

First Republic is seen as the next bank likely to fail after Silicon Valley Bank, Signature Bank because of its amount of uninsured deposits and exposure to low interest rates.

The Independent UK

First Republic up in air as regulators juggle bank's fate

Regulators continued their search for a solution to First Republic Bank’s woes over the weekend before stock markets were set to open Monday

ABC News

Losing interest rate floor has led to 'bad outcomes' for many Australians, says former senior bank regulator

The scrapping of the interest rate floor five years ago has led to "bad outcomes" for many Australians who secured ultra-cheap home loans during the pandemic and are now facing a fall over the mortgage cliff, says a former head of credit risk at the nation's financial regulator.

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news in one place.

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The Guardian - UK

Time running out for US financial firms to bid for ailing bank First Republic

Deadline of Sunday set for companies such as JPMorgan Chase to table offer for California bank whose shares have plummeted

The Guardian - UK

Old ghosts of Staley – and Epstein – haunt Barclays once again

A new lawsuit against its former boss does not involve the bank, but awkward questions may be asked at this week’s AGM

Axios

JPM eyes First Republic as FDIC prepares takeover

The regional bank has lost 97% of its value since March.

ABC News

Spectre of first global credit crunch since global financial crisis emerges as another US bank faces collapse

The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year.

Bangkok Post

KAsset is feeling bullish on China amid reopening

Kasikorn Asset Management (KAsset), the largest mutual fund company by assets under management (AUM), reports a healthy start to the year with net inflows of more than 30 billion baht in the first quarter.

Bangkok Post

Asian shares revive after big US tech rally

RECAP: Shares in Asia rallied yesterday after robust earnings from tech giants Meta, Microsoft and Alphabet buoyed Wall Street, where the S&P 500 had its best day since the first week of the year.

StockNews.com

Market Dip? No Problem: These 2 Stocks Are Still a Great Buy

Unrest in the banking sector, worsened by the rising interest rate environment, has reignited market volatility and sparked a sell-off. Nevertheless, the recent market dip could provide an excellent opportunity for investors to buy fundamentally sound cheap stocks Murphy USA Inc. (MUSA) and Stride, Inc. (LRN), which could surge soon.…

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