Eleven of the country’s largest banks have decided to pump funds into First Republic, saying the $30 billion rescue plan reflects their confidence in banks of all sizes. NBC’s Brian Cheung reports for TODAY.
Category Archives: business
Nuclear power plant leaks 400,000 gallons of radioactive water
Minnesota regulators said Thursday they’re monitoring the cleanup of a leak of 400,000 gallons of radioactive water from Xcel Energy’s Monticello nuclear power plant, and the company said there’s no danger to the public.
Pfizer recalls millions of migraine prescription drug packs due to a risk of child poisoning
Pfizer is recalling more than four million packages of the Nurtec ODT prescription migraine medication over a risk of poisoning to children due to a failure to meet child-resistant packaging safety requirements.
A military drone may not be the only thing the U.S. is missing in the Black Sea
An American military drone’s dramatic encounter with Russian fighter jets this week drew the world’s attention to the Black Sea.
Wall Street rides to the rescue as 11 banks pledge $30 billion to First Republic Bank
A group of financial institutions has agreed to deposit $30 billion in First Republic Bank in what’s meant to be a sign of confidence in the banking system, the banks announced Thursday afternoon.
The fate of 1,000 research monkeys is unclear after government intervention
In recent months, federal officials have contacted animal sanctuaries to ask about the cost of housing and feeding the primates for the rest of their lives. One price quote: $125 million.
Norfolk Southern once had the lowest accident rate of major U.S. rail companies. Now it's above average.
Data reviewed by NBC News showed that from 2018 to 2022, Norfolk Southern averaged slightly more accidents per million miles than the other six Class-I railroads.
Treasury Secretary Yellen seeks to soothe markets and depositors, saying U.S. banking system ‘remains sound’
After two bank failures in which regulators backstopped all depositors’ funds, Treasury Secretary Janet Yellen said account holders at other banks may not be guaranteed such robust protections.
The uncommon lending practices behind Silicon Valley Bank’s woes
Some unusual lending practices at Silicon Valley Bank contributed to the bank’s woes and raise questions about risk management by its leaders, analysts said.
Markets improve on reports of lifelines to First Republic and Credit Suisse
Bank stocks started to bounce back in midday trading on reports that two embattled lenders were receiving fresh financial support, easing some fears of a broader crisis.