ADVFN US – Market Content Editor
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Market News: Moody’s reviews six US lenders, Meta to cut thousands of jobs
Moody’s reviews six US lenders Moody’s Investors Service has put First Republic Bank and five other US lenders under review for downgrade, signaling concern over the health of regional financial firms following Silicon Valley Bank’s collapse. Moody’s has cited the lenders’ reliance on uninsured deposit funding and unrealized losses in their asset portfolios as the…
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Market News: HSBC Purchase Silicon Valley Bank UK, Signature Bank Closed by Regulators
HSBC Rescues Silicon Valley Bank UK HSBC (LSE:HSBC) averted a crisis in Britain’s tech sector by rescuing Silicon Valley Bank’s UK arm, paying a symbolic £1 for the bank. CEO Noel Quinn led the frantic negotiations with UK Prime Minister Rishi Sunak, who is currently in the US for defence talks. A sale of the…
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Economic News: European Equities Falls, Markets Predicts US interest rate hike
European Equities Fall Slightly European equities fell slightly on Monday after Friday’s biggest decline since mid-December. The drop was due to investors assessing the impact of Silicon Valley Bank’s collapse and preparing for the US inflation data release. The Stoxx Europe 600 Index (STOXX:SSXP) dropped by 0.5% in London, with banking stocks retreating by 0.9%.…
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Market News: SVP Crisis, FirstGroup Raises Profit Guidance, BP CEO’s Pay Doubles, Disney+ to Raise Prices
SVB Financial Group Seeks Fresh Capital SVB Financial Group has seen shares drop 44% to $58.91 in premarket trading on Friday as it rushes to raise fresh capital. The sell-off comes after the company revealed it would book a $1.8 billion after-tax loss on sales of investments and seek to raise $2.25 billion by selling…
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Economic News: Wall Street Futures Up, Bond Market Gains
Wall Street Futures Up Wall Street is expected to see a positive start to the day’s trading as the US employment market reports stronger-than-anticipated growth, and wage growth slows down, boosting the Federal Bank’s confidence in raising interest rates by only 0.25% this month. The yield on American government bonds continues to fall, while…