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Business News

Location American Business News for 11 March 2023
In Fields Sown With Bombs, Ukraine's Farmers Risk Deadly Harvest Some who till the breadbaskets of Ukraine have already lost three seasons of planting to war. With mines and cluster bombs widely scattered, normal harvests seem far in the future.
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Regeneron Borrows From Big Pharma Playbook

Wall Street Journal - 11 Mar 2023 17:00
Eylea, the company's top-selling blockbuster, isn't going away soon.
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FC Barcelona Coach Xavi Has A 'Mole' In Locker Room Revealing 'Confidential Information' To Media - Reports FC Barcelona coach Xavi Hernandez has a 'mole' in his Camp Nou locker room who has leaked confidential information to the press, according to a report.
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A Supermarket Megamerger Will Redefine What You Buy at the Grocery Store Kroger and Albertsons want to merge in a $20 billion deal. If antitrust regulators approve, the definition of a grocery store grows further.
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Circle says it has $3.3 billion of USD coin reserves at the collapsed Silicon Valley Bank.
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A major bank failed. Here's why it's not 2008 again

Chicago Tribune - 11 Mar 2023 20:06
A major bank failed. Here's why it's not 2008 again The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking -- a bank run -- which led...
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Staff of Silicon Valley Bank were offered 45 days of employment at 1.5 times their salary by the Federal Deposit Insurance Corp, the regulator that took control of the collapsed lender on Friday, Reuters reported Saturda...
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Student-Loan Bills Set to Add Pressure on Younger Americans

Wall Street Journal - 11 Mar 2023 12:30
Student-Loan Bills Set to Add Pressure on Younger Americans The expected resumption of student-debt payments comes as borrowers in their 20s and 30s are falling behind on other obligations.
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Crypto exchange Coinbase said Friday it is temporarily suspending the conversion between stablecoin USDC and USD over the weekend, after the stablecoin's creator Circle said about $3.3 billion, or more than 8% of over $4...
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Roku warns it has $487M held in deposits with Silicon Valley Bank Roku in a regulatory filing also said its deposits with SVB were largely uninsured, sending its shares down 10% in extended trading.
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Wells Fargo missing deposit glitch alarms customers. Bank says it was a 'technical issue' Wells Fargo warned that some users might find incorrect balances on their accounts Friday, but said accounts continue to be secure.      
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Banks down? That is why Bitcoin was created, crypto community says Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community.
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NYC toy store Camp begs customers for help following Silicon Valley Bank collapse Camp, a New York City-based toy company, is in hot water after getting caught up the sudden collapse of Silicon Valley Bank -- and is now pleading with customers for help keeping it afloat.
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Why Did Silicon Valley Bank Collapse?

The New York Times - 11 Mar 2023 15:45
Why Did Silicon Valley Bank Collapse? DealBook unpacks what caused the biggest U.S. bank failure since the 2008 financial crisis -- and what might come next.
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The crypto industry banker was hard hit by the bankruptcy of FTX, and on Wednesday announced that it will close operations and liquidate its bank
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BTC Proxy Is Live on BNB Chain and Interoperable With WBTC and BTCB PRESS RELEASE. Leading DeFi protocol BTC PROXY today expanded support for the Binance BNB Chain as well as updating support on Ethereum and Polygon for their ($BTCpx) Bitcoin Proxy. Minting and bridging of BTCpx to the t...
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Bank of England Shuts Silicon Valley Bank's U.K. Subsidiary

Wall Street Journal - 11 Mar 2023 13:21
The unit has no critical function in the country's financial system, the BOE said, but others worry about the hit to the U.K.'s vibrant tech scene.
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Annoying Password Rules Make Us Less Secure

Wall Street Journal - 11 Mar 2023 07:00
Annoying Password Rules Make Us Less Secure Forcing users to change their passwords, mandating special characters are outdated but persistent rules. "Some bits of old password wisdom have turned into a bit of a religion."
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Have a question about your own retirement savings? Email us at [email protected]
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Michael Cohen to testify at Trump 'hush money' grand jury next week in last step before a possible indictment As a key witness to the $130,000 payment to Stormy Daniels, Trump's lawyer-turned-nemesis may present the final evidence before a NY indictment vote.
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Here are seven major companies whose stocks moved on the week's news.
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Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000. The exchange allegedly processed almost $34 million in transactions through wallets on Binance, two of which have been bloc...
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