The Latest Breaking News from First Republic

LONDON: US and European stock markets fell on Friday as fears over the health of the banking system festered despite the latest efforts to shore up troubled lenders and tamp down contagion risks.

Before First Republic Bank received $30 billion of liquidity from 11 banks, executives had been shelling shares of the bank for several months.

London (AFP) - Asian and European stock markets mostly rose Friday, extending a global rally, as traders welcomed a multi-billion-dollar show of support for troubled banks aimed at soothing concerns about contagion in the sector.

“Founders are pretty confused at [the] moment” one venture investor said.

In an effort to stave off contagion, 11 of the largest American banks have injected a total of $30 billion into First Republic, a regional bank based in San Francisco that's been struggling amid this week's turmoil in the financial sector. We take a closer look. Meanwhile, the European Central…

Stock futures waver as bank rescues fail to ease contagion fears; First Republic shares slide as cash worries mar $30 billion deposit boost; Boeing edges higher after resuming 787 Dreamliner deliveries; FedEx shares soar as cost cuts drive Q3 earnings beat, profit forecast boost and NBA legend Michael Jordan to…

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

In late January, First Republic Bank's CEO wrote to U.S. regulators saying his bank did not pose signficant risk to the U.S.'s financial stability.

Hong Kong (AFP) - Asian and European markets rose Friday, extending a global rally, as traders welcomed multi-billion-dollar shows of support for troubled banks aimed at soothing concerns about contagion in the sector.