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Silver hit a 1-year high. Here’s why it can keep climbing.
[]Gold isn’t the only precious metal benefitting from economic uncertainty and the crisis in the banking sector. Silver prices last month climbed to their highest in a year, with room to move higher as the global market for the metal this year looks to post its second largest supply deficit in 20 years. []“Demand for…
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PACW Stock Price | PacWest Bancorp Stock Quote (U.S.: Nasdaq)
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What we know about Carl Icahn’s margin loan
On Tuesday, Wall Street was riveted by a report from short seller Nate Anderson’s Hindenburg Research that targeted legendary billionaire investor Carl Icahn. Anderson highlighted issues that had been relatively well known for years, like that Icahn’s investment fund had suffered a decadelong losing streak and that his public company had been paying out rich…
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10-year-olds were found working at a Kentucky McDonald’s without pay —sometimes until 2 a.m., Labor Department reports
Two 10-year-olds were found working at a McDonald’s in Louisville, Ky., the U.S. Department of Labor reports, sometimes until 2 a.m. Not only is this illegal, but the kids also weren’t being paid. They were among 305 children that a Labor Department investigation found working illegally at three McDonald’s MCD, -0.20% franchises, which run 62…
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Qualcomm stock sinks as weak smartphone demand pushes inventory drawdown out to ‘at least the next couple quarters’
Qualcomm Inc. shares fell in the extended session Wednesday after the chip maker said inventory issues will remain past June because of a downturn in handset demand and the company’s outlook disappointed. After declining 2.8% to close the regular session $112.83, Qualcomm QCOM, -2.82% shares started sliding after the release of the company’s results at…
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‘Deposits are going to keep drifting out,’ says DoubleLine’s Gundlach, warning of echoes of S&L crisis at banks
“I’m really turning more bearish,” Jeffrey Gundlach, CEO of DoubleLine, told CNBC on Wednesday, after the Federal Reserve raised rates by another 25 basis points to the highest level since 2007. “It just seems to me that deposits are going to keep drifting out,” Gundlach told the business network. “I don’t think this is the…
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NET Stock Price | Cloudflare Inc. Cl A Stock Quote (U.S.: NYSE)
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‘Generous but expensive’: The costs of helping banks alleviate deposit stress don’t come cheap
The costs of powerful backstops for banks are in the spotlight after First Republic Bank’s failure and sale to JPMorgan Chase pushed the tally of recent assets seized by regulators from three banks above the 2008 crisis peak. The Federal Reserve created a new Bank Term Funding Program in early March, with the aim of…
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Bed Bath and Beyond takes aim at ocean carriers, seeks millions in freight dispute
Bed Bath and Beyond Inc., which filed for chapter 11 bankruptcy last month, has filed complaints against two ocean carriers, claiming that they abandoned their service commitments to the troubled home goods retailer. The Wall Street Journal first reported Tuesday that Bed Bath and Beyond filed a complaint with the Federal Maritime Commission alleging that…
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PacWest stock plummets more than 50% after report of potential sale; other bank stocks fall too
PacWest Bancorp PACW shares tumbled more than 50% in after-hours trading Wednesday, taking other bank stocks with it after a report that the company’s executives were weighing a possible sale. The report, from Bloomberg News, adds to the concerns over the financial stability of regional banks, following the collapse in March of Silicon Valley Bank…