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Daily Business Review

Silvergate Tumbles After FTX Implosion Prompts $8.1B Bank Run

The collapse of Sam Bankman-Fried's FTX sparked a crisis for Silvergate, which held deposits for FTX units and Alameda Research, the trading firm at the heart of the crypto exchange's downfall.
4 minute read

Daily Business Review

Credit Suisse Pays Elevated Rate in $3.75 Billion Bond Sale

Credit Suisse is in the throes of a huge restructuring that will see it cut thousands of jobs and reshape its investment bank to put an end to a string of huge losses and scandals.
4 minute read

Daily Business Review

Florida Lawmakers Look to Stabilize Agriculture Industry

A Democratic state senator from St. Petersburg said lawmakers need to ensure "fairness" for Black growers in awarding medical marijuana licenses.
4 minute read

Daily Business Review

US Stocks Fluctuate as Traders Parse Jobs Data

After a volatile year that saw equities tumble with bonds on worries about inflation and higher interest rates, investors are seeking signs of cooling that will allow policymakers to slow the pace of rate hikes.
2 minute read

Daily Business Review

Credit-Reporting Firms Face More Scrutiny as Complaints Jump

Consumer complaints are one indicator of whether markets are serving consumers, and "complaints about credit reporting suggest that the system increasingly is not," the Consumer Financial Protection Bureau said.
3 minute read

Daily Business Review

Salesforce's 10% Staff Cut Highlights Slowdown in Tech Spending

Salesforce said it hired too many people during the pandemic-fueled boom and is adjusting to more cautious spending by customers.
4 minute read

Daily Business Review

Airlines Slam 'Knee-Jerk' COVID Plan for Chinese Travelers

The International Air Transport Association said that travel restrictions have been proved ineffective in stemming the pandemic over the past three years.
2 minute read

Daily Business Review

Apple's Stock Loses Its Shine After Ugly Month of December

Apple's strength was rooted in its massive capital returns to shareholders through buybacks and dividends and the belief that its hard-to-leave ecosystem of loyal customers would insulate the company in a potential recession.
4 minute read

Daily Business Review

Tech Continues to Pummel US Stocks; Dollar Gains

Investors, still cautious after their wagers missed the mark in 2022, expect a volatile year of trading as uncertainty about the U.S. economy persists.
3 minute read

Daily Business Review

Dollar Makes Strong Start to 2023 After Monthslong Slump

Only the Japanese yen proved stronger than the greenback among Group-of-10 currencies, with the Norwegian krone, euro and Swiss franc falling sharply.
3 minute read

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