The Latest Breaking News on Financial Services

1 ETF to Buy in 2023 and 1 to Avoid Like the Plague

The stock market might remain volatile as the recent high-profile bank failures, and the persistent rate hikes are raising the possibility of a recession. While investors looking to invest in ETFs could consider buying Vanguard S&P 500 ETF (VOO) in 2023, fundamentally weak ARK Innovation ETF (ARKK) could be best…

StockNews.com · Mar 17, 2023

Banking Turmoil Makes for Turbulent Markets

At the end of last week's issue, I told everyone to buckle up for the boom. I wasn't expecting one of the global systemically important banks (G-SIBs) to wind up on the chopping block. And Friday is a rare market event that is known for its wild price swings. So…

StockNews.com · Mar 17, 2023

Why did the $212bn tech-lender Silicon Valley bank abruptly collapse?

Was it the result of Trump-era regulation rollbacks, risk mismanagement at the bank, sharp interest rate rises – or a combination of all three?

The Guardian - US · Mar 17, 2023

3 Stocks You'll Thank Yourself Later for Buying in 2023

High-profile bank failures have exacerbated fresh volatility in the stock market. The central bank stands at policy crossroads, weighing recent strong economic data against jittery capital markets. Amid an uncertain market backdrop, it could be wise to invest in fundamentally sound stocks Honda (HMC), Ryerson (RYI), and AutoNation (AN) for…

StockNews.com · Mar 17, 2023

What is happening in financial markets and could there be a global crisis?

Banking system is reeling from a series of shocks but is in better shape than at time of 2008 crash

The Guardian - UK · Mar 17, 2023

Silicon Valley Bank’s parent company files for bankruptcy following sudden collapse

SVB Financial Group is filing for Chapter 11 bankruptcy protection

The Independent UK · Mar 17, 2023

OECD raises global growth forecast but recovery 'fragile'

PARIS: The OECD raised its global economic growth forecast on Friday as inflation eases and China emerges from Covid restrictions, but warned of vulnerabilities as seen in the US bank sector turmoil.

Bangkok Post · Mar 17, 2023

SVB employees blame remote work for bank failure

What happened at Silicon Valley Bank will likely enter the broader return-to-office debate.

Axios · Mar 17, 2023

Will Americans end up footing the bill for bank failures?

The government’s response to the failure of two large banks has already involved hundreds of billions of dollars

The Independent UK · Mar 17, 2023

First Thing: Markets on alert after US banks join forces to rescue First Republic

Global shares rise as $30bn lifeline for US bank eases fears of imminent collapse. Plus, a 5,000-mile stinking blob of seaweed heads to Florida

The Guardian - UK · Mar 17, 2023