Finance

Silicon Valley Bank CEO Greg Becker sold nearly $30 million of stock over the past two years, raising new questions over insider stock sales. Becker sold $3.6 million worth of shares on Feb. 27, just days before the bank disclosed a large loss that triggered stock slide and collapse. The …

People wait outside the Silicon Valley Bank headquarters in Santa Clara, CA, to withdraw funds after the federal government intervened upon the bank’s collapse, on March 13, 2023. Nikolas Liepins | Anadolu Agency | Getty Images Private equity firms Apollo Global Management and KKR are among the parties reviewing a …

OpenAI logo seen on screen with ChatGPT website displayed on mobile seen in this illustration in Brussels, Belgium, on December 12, 2022. Jonathan Raa | Nurphoto | Getty Images Morgan Stanley is rolling out an advanced chatbot powered by OpenAI’s latest technology to help the bank’s army of financial advisors, …

A view of Silicon Valley Bank headquarters in Santa Clara, CA, after the federal government intervened upon the bankâs collapse, on March 13, 2023.  Nikolas Liepins | Anadolu Agency | Getty Images SVB‘s new leader told clients in a Tuesday message that the seized bank was “open for business” and …

The logo of Credit Suisse Group in Davos, Switzerland, on Monday, Jan. 16, 2023. Bloomberg | Bloomberg | Getty Images Credit Suisse on Tuesday said its net asset outflows had declined but “not yet reversed” and announced that “material weaknesses” were identified in its financial reporting processes for 2022 and …

Allan Baxter | Photolibrary | Getty Images Asia-Pacific’s leading index erased its year-to-date gains and is now flat in 2023 as bank stocks led declines Tuesday. The MSCI Asia Pacific index hit a low of 155.44 in afternoon trade – marking a decline of more than a 9% from its …

The dramatic drop in regional bank stocks is a key entry point for investors, according to analyst Christopher Marinac. Marinac, who serves as Director of Research at Janney Montgomery Scott, believes the group’s decline over the past week provides an attractive entry point for investors because underlying business fundamentals remain …

Evercore ISI is comparing the bank stress to another critical time on Wall Street: The year of the savings and loan crisis and epic crash. “To think you would see financial stress of this kind develop in the system 24 hours after [Fed] chair Powell suggested he may go 50 …

Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled The Semiannual Monetary Policy Report to the Congress, in Hart Building on Tuesday, March 7, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images When the Federal Reserve starts to raise interest …

A trader works on the floor during morning trading at the New York Stock Exchange (NYSE) on March 10, 2023 in New York City.  Spencer Platt | Getty Images Investors flocked to safe-haven assets such as Treasurys and gold on Monday amid an extraordinary plan to backstop the banking system …