Author: News Room

3/3 © Reuters. FILE PHOTO: Customers line up outside of the Silicon Valley Bank headquarters in Santa Clara, California, U.S. March 13, 2023. REUTERS/Brittany Hosea-Small 2/3 By Lawrence Delevingne (Reuters) – As First Republic Bank (NYSE:)’s share price fell by double-digits in the aftermath of the collapse of Silicon Valley Bank last month, some people close to the San Francisco-based lender were worried short sellers were exacerbating its travails, according to a source familiar with the situation. Investors who wager shares in a company will fall were increasing bets on First Republic’s stock when it was already taking a beating,…

The failure of three midsized U.S. banks and subsequent financial stress is not likely to be a “big negative” on the U.S. economic outlook, said New York Fed President John Williams, on Tuesday. “The banking system has really stabilized…but we are going to have to watch carefully,” Williams said, in an interview on Yahoo Finance. “The bank failures add to uncertainty about the outlook,” Williams said. He added that he still expects the economy to grow, at a pretty modest rate, this year. Williams said that it is still “early days” to spot tightening of credit conditions in light of…

Hello and welcome to Financial Face-off, a MarketWatch column where we help you weigh financial decisions. Our columnist will give her verdict. Weigh in on whether you think she’s right in the comments. And please share your suggestions for future Financial Face-off columns by emailing our columnist at [email protected] you’re not already a pet owner, headlines about pandemic pets — or perhaps your social media feed being flooded with adorable fur baby photos for National Pet Day — may have you pondering pet parenthood. Some people strongly identify as either a cat or dog person, but others feel more flexible…

Tesla has been busy in the last five months, particularly with revising the price tags on its electric vehicles. In that short time, the EV maker has cut prices, cut them again, raised them, reported record quarterly deliveries, and then once more cut prices. It all makes a different for demand, profits, and the share price of the EV leader. Tesla late last week, reduced prices in the U.S. across its EV lineup. That came a few days after Tesla reported record quarterly delivery on April 2. Tesla delivered 422,875 vehicles in the first quarter. Tesla (ticker: TSLA) first cut…

Boeing ‘s March jet deliveries surpassed Wall Street estimates. That raises the chance Boeing could do something investors would love to see: Beat quarterly earnings estimates. Boeing (ticker: BA) said Tuesday it delivered 64 commercial jets in March—including 52 MAX jets and 11 wide-body, twin-aisle jets (which included seven 787s). For the first quarter, Boeing delivered 130 jets overall, a little better than the 120 Wall Street had expected and outpacing the 95 jets it delivered in the first quarter of 2022. Boeing stock was up 1.1% just before delivery numbers were released Tuesday. The early gains came after the…

Tennessee Republican Gov. Bill Lee on Tuesday urged the state’s legislature to pass additional gun control measures, an especially charged subject in a state that recently suffered a school shooting and the acrimonious expulsion of two Black Democratic lawmakers who called for greater firearm restrictions. “I’m asking the General Assembly to bring forward an order of protection law. A new strong order of protection law will provide the broader population cover, safety, from those who are a danger to themselves or the population,” Lee said at a news conference, adding that he would like legislators to pass the legislation within…

HSBC has hired more than 40 investment bankers who used to work at Silicon Valley Bank, the latest move by the British lender to scoop up parts of the failed tech-focused bank.A month after HSBC acquired SVB’s UK subsidiary for £1, the bank is now hiring several dozen of its US bankers from First Citizens, which recently bought much of SVB in an auction handled by the Federal Deposit Insurance Corporation. The group of ex-SVB bankers will establish a new banking practice targeting tech and healthcare companies as well as venture capital funds, HSBC said in a statement on Tuesday.…

The Chinese electric vehicle (“EV”) space continues to struggle to rebound from covid restrictions and the lack of subsidies that caused a rush to purchase vehicles at the end of 2022. NIO Inc. (NYSE:NIO) has fallen flat to start 2023, with sales growth not matching internal targets, though the EV company is making progress. My investment thesis remains ultra-Bullish on the breakout potential in the sector, though NIO continues to struggle to grow beyond prior sales peaks. Source: Finviz March Struggle After NIO reported strong deliveries in February, the Chinese EV company was back to reporting weak numbers in March.…

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The latest Bitcoin (BTC) price pump, which has seen the world’s largest cryptocurrency rally into the mid-$30,000s per token, has obliterated millions worth of short positions.Indeed, in the last two days, $107 million worth of Bitcoin futures short positions have been liquidated across major cryptocurrency exchanges, according to crypto derivatives analytics website CoinGlass.Around $60 million in short position have been liquidated on Tuesday alone, the highest daily tally since the 16th of March.A separate chart presented by CoinGlass shows that bulls are gaining the upper hand when it comes to demand for Bitcoin futures leverage.The Bitcoin futures leverage funding rate…