Tag: introduction to finance

Are banks on the edge of another 2008-style precipice?

Northern Rock, Bear Stearns, Countrywide Financial and Alliance & Leicester. Back in late 2007 and early 2008, when they all failed or were rescued, none of the above was systemically important. And few observers would have predicted the nightmarish crisis that was to strike within the year, felling behemoths from Wall Street’s venerable Lehman Brothers to Royal Bank of Scotland, then the biggest bank in the world.

Fifteen years later, after a week in which four banks — Silicon Valley Bank, Signature and First Republic in the US, and Credit Suisse in Europe — teetered and were propped up in

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Bitcoin, Ethereum Post Mega Rallies After Banking Intervention

This week in coins

This week in coins. Illustration by Mitchell Preffer for Decrypt.

After three consecutive weeks of lossesprices turned verdantly green for holders of the two largest cryptocurrencies by market cap this week.

Bitcoin (BTC) blew up 36% over the past seven days and now trades at around $27,515 according to CoinMarketCap data.

Last week, Bitcoin shed around 10% in reaction to news that the industry-servicing Signature Bank and Silicon Valley Bank (SVB) had both failed.

The industry’s No. 2 coins, Ethereum (ETH), is back where it was before the downturn. ETH is up 27% over the seven days and

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Euler Finance blocks vulnerable module, working on recovering funds

Euler Finance’s decentralized finance (DeFi) lending protocol became a victim of a flash loan attack on March 13, resulting in the biggest hack of crypto in 2023 so far. The lending protocol lost nearly $197 million in the attack and impacted more than 11 other DeFi protocols as well.

On March 14, Euler came out with an update on the situation and notified its users that they had disabled the vulnerable e-token module to block deposits and the vulnerable donation function.

The firm said that they worked with various security groups to perform audits of its protocol, and the vulnerable

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Ontario finance minister teases vision for growth in 2023 budget

Finance Minister Peter Bethlenfalvy will release the Ontario government’s 2023 budget on March 23

Two-and-a-half weeks before he plans to introduce the Ford government’s 2023 budget, Peter Bethlenfalvy explained in broad strokes what to expect in it to a downtown Toronto audience.

The budget will signal that Ontario “wants to be the economic engine of Canada and frankly, North America,” the finance minister told attendees at the Toronto Region Board of Trade’s Gateway to Growth Summit on Thursday.

The budget is also meant to prepare Ontario for “all the people who come to Ontario,” the finance minister said. The federal

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Why the recession odds just spiked after Powell addressed Congress

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 am ET. Subscribe

Thursday, March 9, 2023

Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with the Yahoo Finance App.

Fed chair Jay Powell just poured cold water on the “no landing” crowd hoping to avert a US recession and rally stocks to fresh record highs this year.

After two days of grilling

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Yahoo Finance LIVE – Mar 1 AM

Storyful

Dozens Arrested After ‘Coordinated Attack’ on Proposed Site of Atlanta Police Training Center

At least 35 people were arrested following what the City of Atlanta Police Department called a “coordinated attack” at the proposed site of the Atlanta Public Safety Training Center on Sunday, March 5. Footage from the City of Atlanta Police Department shows officers at the site in DeKalb County seeking cover as they fireworks exploded around them.The police said a group of “violent agitators” carried out a “coordinated attack” on the site on Sunday.The force said the group “changed into black clothing, entered the construction area

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Are Finance Stocks Lagging Banco Bilbao Viscaya Argentaria (BBVA) This Year?

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Banco Bilbao (BBVA) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Finance peers, we might be able to answer that question.

Banco Bilbao is one of 870 individual stocks in the Finance sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the

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World Bank member nations split over plans to expand balance sheet

Developing nations have warned against reshaping the World Bank in the aftermath of David Malpass’s departure as its head in a way that would imperil the institution’s ultra-high credit rating.

The early exit of Trump-appointed Malpass, announced last week, is expected to hasten reforms — pushed by US Treasury secretary Janet Yellen — under his yet-to-be chosen successor that is designed to more effectively help poorer countries mitigate and plan for climate change.

Malpass said he would leave his role at the bank early, by June 30, and the US, the largest shareholder, is racing to draw up a list

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