Investing
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How the FDIC has set a ‘baseline’ for troubled commercial real estate
A bank failure can happen in the blink of an eye, but in the case of Silicon Valley Bank, the aftermath is taking longer to play out. And the Federal Deposit Insurance Corp.’s latest action — selling $72 billion of the failed San Francisco bank’s loans to First First Citizens BancShares of Raleigh, N.C., at…
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New Los Angeles ‘mansion tax’ has some sellers racing to close
In the rarified air of luxury Los Angeles real estate, 30 days is a common closing timeline and two weeks would be speedy, explained Billy Rose, who’s guided buyers and sellers through high-end home purchases for years. This week, work for Rose’s brokerage firm, The Agency, included two deals that went to closing in three…
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Right-wing social platforms rally after reports of Trump indictment, quarterly results
Shares of Rumble Inc. and Digital World Acquisition Corp. — both social-media-focused companies seeking to galvanize right-leaning users — raced higher after hours on Thursday following reports that a grand jury in Manhattan voted to indict former President Donald Trump. The indictment, still under seal, is likely to be made public in the days ahead,…
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Ford withdraws a self-driving-car petition, following skepticism over near-term prospects
Ford Motor Co. has withdrawn a petition to deploy a vehicle equipped with advanced driverless features, after concluding that the automobile industry is not close to profitable mass production of fully autonomous vehicles. The decision, detailed in an unpublished notice by the National Highway Traffic Safety Administration, follows the shuttering of the autonomous-vehicle startup Argo…
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Nikola to sell stock at 20% discount to record low price
Nikola Inc. shares closed at an all-time low Thursday, and the maker of electric and fuel-cell vehicles expects to sell stock at a 20% discount to that price. Nikola announced Thursday afternoon that it intended to sell $100 million in shares to the public and another $100 million to an unnamed investor in a direct…
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‘It says I owe $179,000’: Options traders hit with massive margin calls as winning bets against failing banks are left in limbo for weeks
Thousands of retail option traders who made prescient bets against shares of Signature Bank and SVB Financial Group, the Silicon Valley Bank holding company, were relieved on Tuesday when shares of both failed banks resumed trading on over-the-counter markets after a roughly two-week trading halt. It marked the end of what an academic has described…
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New Lyft CEO’s ‘unusual’ pay structure is a ‘sign of the times’
Lyft Inc. is shaking up its leadership, and it’s also shaking up the way it pays its top executive. The ride-hailing company tapped David Risher, a board member and early Amazon.com Inc. AMZN, +1.26% employee, to serve as its next chief executive Monday, and the board is giving him a pay package with an “unusual”…
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Starbucks’ ex-CEO Schultz resists ‘union busting’ claims by U.S. Senators By Reuters
2/2 © Reuters. FILE PHOTO: Starbucks Chairman and CEO Howard Schultz looks on during its Annual Meeting of Shareholders in Seattle, Washington March 21, 2012. REUTERS/Robert Sorbo/File Photo 2/2 6){ atwWrapper.find(‘.js-slider-next’).fadeIn(600); } } function atwMoveRight() { atwWrapper.find(‘.js-slider-prev’).fadeIn(150); $(“.slider > :visible:first”).hide(150) $(“.slider > :visible:last”).next().show(150); if(!$(“.slider > :visible:last”).next().find(‘.name’).html()){ atwWrapper.find(‘.js-slider-next’).fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find(‘.js-slider-next’).fadeIn(150); $(“.slider…
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Colorado Proposes $1,000 Tax Credit For Teachers To Pay For School Supplies
Colorado lawmakers have come up with a new proposal to end the practice of teachers spending their own money to buy classroom supplies. For this, lawmakers have proposed a $1,000 tax credit for teachers each year for school supplies. Much Needed Tax Credit For Teachers Colorado lawmakers have proposed House Bill 1208 that, if approved, would…
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‘Most U.S. banks are technically near insolvency, and hundreds are already fully insolvent,’ Roubini says
In January 2022, when yields on U.S. 10-year Treasury bonds TMUBMUSD10Y, 3.499% were still roughly 1% and those on German Bunds were -0.5%, I warned that inflation would be bad for both stocks and bonds. Higher inflation would lead to higher bond yields, which in turn would hurt stocks as the discount factor for dividends rose. But, at the same…
