A nationwide recall was issued by the U.S. Food and Drug Administration (FDA) on March 17. The recall affects frozen strawberries that are potentially linked to a Hepatitis A outbreak and have been sold across various retailers. According to the Centers for Diseases Control and Prevention (CDC), a possible link was established after five cases…
Nationwide Recall Issued for Frozen Strawberries at Major Retailers Following Hepatitis A Outbreak
Elon Musk Shocked by $100 Billion Liquidity Support for Credit Suisse Rescue Deal
Twitter CEO Elon Musk has expressed his shock that investment banking company UBS would get a $100 billion emergency credit line as part of a $2 billion deal to buy rival Credit Suisse. Taking to Twitter, Musk responded to a tweet linking to an article reporting on the deal between the two financial institutions which…
LA Meteorologist Collapses on Live TV, Broadcast Immediately Halted
March 20, 2023
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Business & MarketsCaliforniacollapseCompaniesheartMedia & Big TechRegional & State NewsSouthern CaliforniaState NewsUSUS News
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A Los Angeles meteorologist fainted during a live TV segment on Saturday morning and later provided an update that she’s doing well. Alissa Carlson, who works for CBS affiliate station KCAL-TV in Los Angeles, collapsed during a live morning report. In a clip of the incident uploaded on Twitter, KCAL anchors Nichelle Medina and Rachel Kim introduce…
Wall Street Opens Mixed on Bank Fears, Rate-Hike Pause Hopes
Wall Street’s main indexes opened mixed on Monday as investors weighed a state-backed takeover of Credit Suisse and the odds of the Federal Reserve keeping interest rates unchanged this week. The Dow Jones Industrial Average rose 10.35 points, or 0.03 percent, at the open to 31,872.33. The S&P 500 opened higher by 0.83 points, or…
Too Wrong to Fail
March 20, 2023
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Business & MarketsBusiness ColumnistsCompaniescryptocurrencyeconomyFTCInvestmentMarketsOpinionSignature BankSilicon Valley BankUSViewpoints
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Commentary As the old saw goes, a banker is someone who lends you his umbrella when the sun is shining and then wants it back as soon as the first drops of rain fall. Hostility toward money lenders goes way back. In the Middle Ages in Europe, to deposit your money with one was unlawful,…
UK Financial System ‘Safe and Sound,’ Central Bank Says After Credit Suisse Deal
March 20, 2023
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Bank of EnglandBusiness & MarketsCompaniesCredit Suisseeconomic policieseconomyEuropeJeremy HuntMarketsSilicon Valley BankUKWorld
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Britain’s central bank has said the UK financial system remains “safe and sound” as it seeks to calm fears after the Swiss government mediated the merger between the country’s two largest banks to save Credit Suisse from collapse. Swiss investment banking company UBS announced on Sunday evening it will purchase its rival Credit Suisse in…
Global Stocks Sink After Credit Suisse Takeover
March 20, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BEIJING—Global stock markets sank Monday after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis ahead of a Federal Reserve meeting to decide on more possible interest rate hikes. Hong Kong’s main index slid 2.7 percent. London, Frankfurt, and Paris opened down more than 1 percent. Shanghai, Tokyo,…
New York Community Bank Subsidiary to Buy Failed Signature Bank in $2.7 Billion Deal
March 20, 2023
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Business & MarketsCompanieseconomyFDICMarketsNew York Community BankSignature BankSilicon Valley BankUSUS News
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A subsidiary of New York Community Bank will purchase a significant portion of failed Signature Bank under a $2.7 billion deal with U.S. regulators, the Federal Deposit Insurance Corporation (FDIC) announced on March 19. The FDIC, an independent agency created by Congress to maintain a stable financial system, said that Sunday’s deal will see the 40 former branches of New…
FTX Transferred $2.2 Billion to Bankman-Fried via Related Entities, New Managers Say
Bankrupt cryptocurrency exchange FTX made transfers of about $2.2 billion to company founder Sam Bankman-Fried through related entities, the company’s new management said. Overall more than $3.2 billion was transferred through payments and loans to company founders and key employees, FTX said in a statement on Wednesday. These payments were made chiefly from Alameda Research…
American Airlines Loses Fight Over Delta Airport Slots
LUXEMBOURG—American Airlines, which gave up rights to two airport slots to Delta Air Lines’ in 2013, on Thursday lost a court appeal to have the European Union cancel them for lack of use. American gave up the takeoff and landing rights at Heathrow and Philadelphia airports to get antitrust approval for its merger with US…
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