A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
The new funding gives the bank, which was under pressure following the collapse of SVB Financial Corp. SIVB -60.41% last week, $70 billion of idle cash. That doesn’t include money First Republic can borrow through a new Fed lending facility designed to help banks deal with withdrawals. “First Republic’s capital and liquidity positions are very … Read more
‘Undisputed’ host Shannon Sharpe has hit back at a social media user who appeared to blame him for NBA star Ja Morant’s gun scandal. Morant, 23, was suspended for at least two games on Saturday after appearing to show a gun in a shocking Instagram live video, while posing topless at a strip club in … Read more
