Subscribers to Google’s YouTube TV will see their monthly fee increase from $64.99 per month to $72.99 per month starting in mid-April, the streaming service announced on Thursday. “Due to the rising cost of content, we’re updating our membership pricing to reflect the complete value of YouTube TV,” according to a notice released by the…
Largest Railroad Merger in 2 Decades Approved, Linking US, Canada, Mexico
After two years of deliberations, the Surface Transportation Board (STB) this week approved the acquisition of Kansas City Southern Railway Company (KCS) by Canadian Pacific Railway Limited (CP)—subject to a number of conditions and an extended oversight period. 800 new jobs are set to be created in the Unites States as a result of the…
First Republic’s Stock Resumes Slide Despite Cash Infusion
March 17, 2023
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bank crashBusiness & MarketsBusiness ColumnistsCompaniesfinanceFirst RepublicInvestmentMarketsUSUS News
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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…
First Republic Shares Tank Despite Cash Infusion by Big Banks
March 17, 2023
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bank crashBusiness & MarketsBusiness ColumnistsCompaniesfinanceFirst RepublicInvestmentMarketsUSUS News
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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…
TSMC Founder: Chip Globalization Is Dead
March 17, 2023
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Asia & PacificBusiness & MarketsChinaCompanieseconomyEntity ListsemiconductorSpecial TopicsTaiwanTech CompetitiontechnologyUSWorld
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Taiwan Semiconductor Manufacturing (TSMC) founder Morris Chang declared that the globalization of the chip industry is over, and Taiwan is indispensable in the global chip industry for its unique work ethic. Speaking of the future of the chip sector, many countries strive to reshore manufacturers back to their territory to ensure supply chain resilience for…
Billionaire Investor ‘Extremely Concerned’ About Financial Contagion Risk After First Republic Rescue
March 17, 2023
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Business & MarketsCompanieseconomic policieseconomyFirst Republic BankMarketsSilicon Valley Bank CollapseUS
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Billionaire investor Bill Ackman said he is “extremely concerned” by the federal government-backed infusion of $30 billion to First Republic Bank by 11 of the top banks, saying the plan will create a “false sense of confidence” and risks the spread of contagion. On Thursday afternoon, 11 banks—including JPMorgan Chase, Wells Fargo, Citibank, and Bank…
Climate Is Important, but Oil Is ‘Vital,’ Admits BlackRock CEO: We’re Not ‘Environmental Police’
March 17, 2023
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BlackRockBusiness & Marketsclimate change alarmismCompanieseconomic policieseconomyenergyenvironmental social and governance (ESG) policiesesg agendaInvestmentLarry FinkMarketsUSUS News
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BlackRock CEO Larry Fink admitted in a 2023 annual letter to investors that oil and gas are “vital” to global energy demand—a shift from his earlier stance promoting a climate change agenda which focused on progressive values that denounce fossil-based fuels. “For years now, we have viewed climate risk as an investment risk. That’s still…
Ford Recalls 1.5 Million Vehicles to Fix Brake Hoses, Wiper Arms
DETROIT—Ford is recalling more than 1.5 million vehicles in the U.S. in two actions to fix leaky brake hoses and windshield wiper arms that can break. The largest of two recalls covers nearly 1.3 million 2013 through 2018 Ford Fusion and Lincoln MKX midsize cars. The company says in documents posted Friday by safety regulators…
SVB Parent Company Files For Bankruptcy Amid Bank Turmoil
The parent company of the collapsed Silicon Valley Bank (SVB) has filed for bankruptcy. SVB Financial Group, which is no longer affiliated with SVB after the failed bank was taken over by the Federal Deposit Insurance Corporation (FDIC), said in a press release Friday that it has filed a petition for a court-supervised reorganization under Chapter 11….
Wall Street Opens Lower as Bank Worries Linger
Wall Street’s main indexes opened lower on Friday as investors remained wary about a potential banking crisis even as the country’s largest banks came to the rescue of troubled regional lender First Republic Bank. The Dow Jones Industrial Average fell 29.23 points, or 0.09 percent, at the open to 32,217.32. The S&P 500 opened lower…
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