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The collapse of Silicon Valley Bank and its causes shown in graphs in the WSJ.
The collapse of Silicon Valley Bank and its causes shown in graphs in the WSJ.
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Xi Jinping Tariff Negotiating Strategy with US Articles
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Oil prices of over $100 per barrel give Saudi national oil company Aramco profits of $161 billion in 2022. One change is the amount of oil going to Europe which almost doubled from 5.1% to 9.1% of European oil imports by the third quarter of 2022, after the EU ban on oil imports from Russia.
Oil prices of over $100 per barrel give Saudi national oil company Aramco profits of $161 billion in 2022. One change is the amount of oil going to Europe which almost doubled from 5.1% to 9.1% of European oil imports by the third quarter of 2022, after the EU ban on oil imports from Russia.
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Geoff Lemon compares the youngest batters on the Indian and Australian Test cricket teams and their graceful batting, Shubman Gill and Cameron Green. Shubman Gill's century gave India a good start against Australia leading to superb batting from Kohli with 186 and his partnership with Axar Patel in the fourth Test match against Australia.
Geoff Lemon compares the youngest batters on the Indian and Australian Test cricket teams and their graceful batting, Shubman Gill and Cameron Green. Shubman Gill's century gave India a good start against Australia leading to superb batting from Kohli with 186 and his partnership with Axar Patel in the fourth Test match against Australia.
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A new Boeing order is expected for $35 billion from Saudi Arabia. The Saudis will also launch a new national airline.
A new Boeing order is expected for $35 billion from Saudi Arabia. The Saudis will also launch a new national airline.
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This report in the WSJ says Silicon Valley Bank grew too fast on borrowed money and its risks were lurking in plain sight. The Guardian reports that the bank lobbied heavily spending half a million dollars to avoid regulation. The lobbying worked says the Guardian leaving huge gaps in regulation even after the 2009 financial crisis.
This report in the WSJ says Silicon Valley Bank grew too fast on borrowed money and its risks were lurking in plain sight. The Guardian reports that the bank lobbied heavily spending half a million dollars to avoid regulation. The lobbying worked says the Guardian leaving huge gaps in regulation even after the 2009 financial crisis.
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Li Qiang, the former Communist party chief of Shanghai and in 2004-2007 Xi Jinping's chief of staff when Jinping was provincial party secretary Zhejiang province, is now the new prime minister of China.
Li Qiang, the former Communist party chief of Shanghai and in 2004-2007 Xi Jinping's chief of staff when Jinping was provincial party secretary Zhejiang province, is now the new prime minister of China.
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Shockingly Silicon Valley Banks spends half a million dollars on lobbying and this works to avoid government regulation. The bank with $209 billion in assets collapsed this week leaving depositors at risk. This report in The Guardian says this bank did not have a chief risk officer in the months leading to its collapse and more than 90% of its deposits were not insured. The lobbying worked and the bank avoided regulation. By 2015 the CEO hired a former Obama administration Treasury Department official for its board, and by 2019 the CEO was placed on the board of the Federal Reserve Bank of California.
Shockingly Silicon Valley Banks spends half a million dollars on lobbying and this works to avoid government regulation. The bank with $209 billion in assets collapsed this week leaving depositors at risk. This report in The Guardian says this bank did not have a chief risk officer in the months leading to its collapse and more than 90% of its deposits were not insured. The lobbying worked and the bank avoided regulation. By 2015 the CEO hired a former Obama administration Treasury Department official for its board, and by 2019 the CEO was placed on the board of the Federal Reserve Bank of California.
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Silicon Valley Bank's investments in Treasury's did not appear to be risky yet these investments were in long term Treasury's that lost value when interest rates were increased by the US Federal Reserve. The market value of its assets declined leading to startups and other tech companies affected by the downturn to withdraw assets all at one time from the bank. The withdrawals amounted to about $42 billion last week leading to its collapse from running out of cash to pay depositors withdrawing their money. Unlike the bad loan problems of banks in 2008, a whole combination of such factors led to its collapse. With the collapse the FDIC will issue receivership certificates for the $155.1 billion in deposits that were large and did not qualify for FDIC insurance.
Silicon Valley Bank's investments in Treasury's did not appear to be risky yet these investments were in long term Treasury's that lost value when interest rates were increased by the US Federal Reserve. The market value of its assets declined leading to startups and other tech companies affected by the downturn to withdraw assets all at one time from the bank. The withdrawals amounted to about $42 billion last week leading to its collapse from running out of cash to pay depositors withdrawing their money. Unlike the bad loan problems of banks in 2008, a whole combination of such factors led to its collapse. With the collapse the FDIC will issue receivership certificates for the $155.1 billion in deposits that were large and did not qualify for FDIC insurance.
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Pictures of India's Holi festival in The Indian Express. Australian prime minister Albanese is shown celebrating Holi with the chief minister of Gujarat, and Gina Raimondo, US Commerce Secretary, with Rajnath Singh, India's Defense Minister.
Pictures of India's Holi festival in The Indian Express. Australian prime minister Albanese is shown celebrating Holi with the chief minister of Gujarat, and Gina Raimondo, US Commerce Secretary, with Rajnath Singh, India's Defense Minister.
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The prime ministers of Australia and India at the fourth cricket Test in Ahmedabad's cricket stadium. Modi interacts with India's cricket team.
The prime ministers of Australia and India at the fourth cricket Test in Ahmedabad's cricket stadium. Modi interacts with India's cricket team.
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Original article 1 minute, gist 1 minute
Original article 1 minute, gist 1 minute
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The Czech Republic brings an amateur baseball team of firemen and teachers to Tokyo World Baseball games and wins 8-5 over China.
The Czech Republic brings an amateur baseball team of firemen and teachers to Tokyo World Baseball games and wins 8-5 over China.
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