The bank’s rivals appear on firmer footing this time, in contrast with the widespread panic after the failures of Silicon Valley Bank and Signature Bank in March.
Category: Company Reports
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First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase
As part of its deal, 84 First Republic branches in eight states will reopen as JPMorgan branches on Monday.
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First Republic Nears Federal Seizure as F.D.I.C. Seeks Buyers
JPMorgan and PNC, two of the country’s largest banks are said to be interested in acquiring the troubled lender after it is seized by the Federal Deposit Insurance Corporation.
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First Republic’s Shares Slide as Its Fate Remains Uncertain
Among investors at least, First Republic’s troubles seem contained to the bank itself. The S&P 500 and an index of bank stocks were higher on Friday.
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Higher Food Prices Bring Bigger Profits, but Consumers Start to Resist
Some of the biggest packaged food companies raised their prices last quarter and their profits rose, but some customers were starting to cut back or trade down.
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Questions Swirl About NBCUniversal’s Future After C.E.O.’s Shocking Firing
Mike Cavanagh, now in charge of NBCUniversal, is meeting with talent including Lester Holt and Jimmy Fallon as he ponders next steps for the business.
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First Republic Lurches as It Struggles to Find a Savior
The bank is sitting on big losses and paying more to borrow money than it is making on its loans to homeowners and businesses.
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Microsoft Beats Financial Expectations Despite Worries About Economy
Quarterly revenue was up 7 percent and profits were up 9 percent as the company embarked on an aggressive plan to embrace artificial intelligence.