Meta Platforms Inc. plans to lay off 10,000 more employees as it focuses on ‘year of efficiency.’
MarketWatch: First Republic and Western Alliance pace big rebound in regional-bank stocks after huge losses
Regional-bank stocks posted big gains Tuesday after huge losses in the previous session, but volatility continued following the demise of SVB and other banks.
The Tell: ‘I’m not seeing true danger here’: Michael Burry says U.S. banking crisis to be resolved ‘very quickly’
Investor Michael Burry said in a tweet late Monday that he expects the crisis surrounding the collapse of Silicon Valley Bank to be resolved “very quickly” one day after comparing SVB’s collapse to the great financial crisis and the dot-com bubble.
Retirement Hacks: Is your retirement money safe? Here are the rules.
The collapse of Silicon Valley Bank has investors worried – understand your rights
: Elizabeth Warren calls on Fed chief Powell to recuse himself from Silicon Valley Bank investigation
‘Fed Chair Powell’s actions to allow big banks … to boost their profits by loading up on risk directly contributed to these bank failures,’ Warren said.
: This macro fund ‘tactically’ went long the Israeli shekel on the planned judicial reforms
Trium Capital’s global macro fund attempted to gain from shekel movements reacting to the Israeli government’s closeness to overhaul the judiciary system, but political uncertainty cut short its trade.
: Silicon Valley VCs vow to work with SVB if a new owner is found
Hundreds of venture-capital firms, including Sequoia Capital and RRE Ventures, have pledged to work again with Silicon Valley Bank if a new owner is found.
: Suddenly a half-point ECB hike isn’t guaranteed after bank collapses in U.S. and share price slides in Europe
Market expectations for a half-point rate hike by the European Central Bank are changing on the eve of the decision.
: Months after its own financial turmoil, U.K. set to release new budget
Jeremy Hunt on Wednesday is due to deliver the official budget, which unlike its corresponding document in the U.S., is eagerly anticipated because it usually becomes law.
Movers & Shakers: First Republic leads big rally in regional banks, while United Airlines dips on profit warning
KBW recommends buying a batch of financials as the recent selloff is considered overdone.
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