The Latest Breaking News from First Republic

LONDON: US and European stock markets fell on Friday as fears over the health of the banking system festered despite the latest efforts to shore up troubled lenders and tamp down contagion risks.

The Dow Jones sold off 300 points Friday, as regional bank First Republic dived after suspending its dividend. FedEx soared on earnings.

“Founders are pretty confused at [the] moment” one venture investor said.

In an effort to stave off contagion, 11 of the largest American banks have injected a total of $30 billion into First Republic, a regional bank based in San Francisco that's been struggling amid this week's turmoil in the financial sector. We take a closer look. Meanwhile, the European Central…

Global shares rise as $30bn lifeline for US bank eases fears of imminent collapse. Plus, a 5,000-mile stinking blob of seaweed heads to Florida

In late January, First Republic Bank's CEO wrote to U.S. regulators saying his bank did not pose signficant risk to the U.S.'s financial stability.

European and US banking shares fall, with Credit Suisse down 12% as sentiment remains fragile

Shares have advanced in Asia, tracking a rally on Wall Street after a group of big banks offered a lifeline to First Republic Bank, the lender investors had focused on in their hunt for troubles in the banking industry

First Republic is the fourth bank in a week to show signs of financial distress. What does this mean for Australian interest rates – and mortgages?

The uninsured deposits from 11 big banks into First Republic Bank are seen as a vote of confidence in the San Francisco-based firm with $176.4 billion in deposits.

Inflationary pressures are boosting rates, which in turn are exposing cracks in the foundation of the global financial system.