Delaware has cultivated a reputation as being business-friendly due to its tax law and unique court system specifically for corporate legal cases.
Silicon Valley’s ‘greed and avarice’ have ‘finally come home to roost’ in SVB collapse, trader says
“Banking should be boring, a lot like watching paint dry — and any time it’s not, you’ve got a problem,” one investor told CNBC.
Citi upgrades Charles Schwab, says recent selloff opens a promising entry point
Citi analyst Christopher Allen says that the recent sell-off in Charles Schwab shares presents a compelling entry point for investors.
Stablecoin USDC nearly regains $1 peg after Circle says $3.3 billion held with SVB will be available
Circle, which issues USD Coin (USDC), said that the $3.3 billion it held with the now-collapsed SVB will be “fully available” on Monday when U.S. banks open.
Pfizer looks beyond Covid sales with $43 billion deal for cancer drugmaker Seagen
Pfizer on Monday struck a roughly $43 billion deal for Seagen to bulk up its cancer treatment portfolio.
Credit Suisse downgrades Logitech, says there’s little hope for growth ahead
There’s little hope for growth for Logitech this year, according to Credit Suisse.
FDIC names former Fannie Mae chief as CEO of Silicon Valley Bank
The FDIC on Monday named former Fannie Mae head Tim Mayopoulos as the chief executive officer of Silicon Valley Bank, a unit of SVB Financial Group.
Silicon Valley Bank collapse hits startups as far away as China
The Silicon Valley Bank fallout has ripple effects on Chinese startups.
First Republic drops 60%, leads decline in bank stocks despite government’s backstop of SVB
First Republic Bank led a decline in bank shares Monday that came even after regulators’ extraordinary actions Sunday evening.
Wells Fargo upgrades JPMorgan Chase, says ‘Goliath is winning’ as uncertainty grows around banking
Wells Fargo upgraded JPMorgan to overweight from equal weight, saying that the banking giant is a source of stability amidst uncertainty in the sector.