The Silicon Valley Bank’s (SVB) bad management may have set off a nationwide financial crisis. The Biden administration has pledged to protect depositors’ money. But among SVB’s customers are firms affiliated with the Chinese Communist Party (CCP). So why are American taxpayers footing the bill to make Beijing whole? In the premiere of the new…

The Silicon Valley Bank’s (SVB) bad management may have set off a nationwide financial crisis. The Biden administration has pledged to protect depositors’ money. But among SVB’s customers are firms affiliated with the Chinese Communist Party (CCP). So why are American taxpayers footing the bill to make Beijing whole? In the premiere of the new…

The share price of First Republic Bank tanked again Friday morning, but did not return to Monday’s lows. Wedbush Securities, a prominent financial services and investment firm, recently issued a downgrade of the stock, citing concerns about the company’s prospects. Its stock fell more than 23 percent, hitting a low for the day of just…

The share price of First Republic Bank tanked again Friday morning, but did not return to Monday’s lows. Wedbush Securities, a prominent financial services and investment firm, recently issued a downgrade of the stock, citing concerns about the company’s prospects. Its stock fell more than 23 percent, hitting a low for the day of just…

Customers of First Republic—the San Francisco-headquartered bank that caters to high-net-worth clients and businesses—were lining up at various California branches ton Monday following the collapse of Silicon Valley Bank (SVB) and Signature Bank over the weekend. That day waiting outside First Republic’s Montgomery Street branch in San Francisco, a California business owner named Chad told The…

JOHANNESBURG—The world anti-money laundering organization Financial Action Task Force (FATF) has “grey-listed” Africa’s two biggest economies, Nigeria and South Africa. The Paris-based task force said the action was taken because both countries hadn’t done enough to prevent illicit financial flows and terrorist financing. Financial experts warn the gray-listing could be “devastating” to Nigeria’s and South…

Hoping to deter the Chinese Communist Party (CCP) from invading the neighboring self-ruled island of Taiwan, the U.S. House Financial Services Committee has approved several pieces of legislation that would impose economic restrictions on CCP officials and influence international bodies to put pressure on China. Of the seven bills that pertained to China and Taiwan…

Hoping to deter the Chinese Communist Party (CCP) from invading the neighboring self-ruled island of Taiwan, the U.S. House Financial Services Committee has approved several pieces of legislation that would impose economic restrictions on CCP officials and influence international bodies to put pressure on China. Of the seven bills that pertained to China and Taiwan…

BEIJING—China Renaissance Holdings said in an exchange filing on Sunday that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation. This is the first time the mainland China-based boutique bank has given a reason for the disappearance of its founder—who was reported missing 10 days ago—though…

Three years under the Chinese Communist Party’s zero-COVID policy is a disaster to local finances. Southern China’s Guangdong Province directly spent $22 billion on the central government’s COVID containment measures, such as mass testing and forced vaccination, over the last three years. Guangdong, China’s economic powerhouse, spent a total of 146.8 billion yuan ($21.65 billion)…