Category: Shutdowns (Institutional)

Regional Banks Slammed by Fear of a Broader Financial Crisis

The New York Times – Business:
Across the country, banks of various sizes are battling market turmoil as customers rushed to withdraw their deposits and investors, worried about more bank runs, dumped bank stocks.
Signature Bank’s Collapse Fueled by Crypto Bets and Run on Deposits

The New York Times – Business:
Regulators said keeping open the 24-year-old institution, which held deposits from law firms and real estate companies, could threaten the financial system’s stability.
Silicon Valley Bank Collapse: What We Know and How It Happened

The New York Times – Business:
Regulators shut down Silicon Valley Bank on Friday, in the largest U.S. bank failure since the 2008 financial crisis.
3 Lessons From Silicon Valley Bank’s Failure

The New York Times – Business:
Here’s one takeaway: The bank’s extremely online clientele may have contributed to its downfall.
Silicon Valley Bank Collapse: What We Know

The New York Times – Business:
Regulators shut down Silicon Valley Bank on Friday, in the largest U.S. bank failure since the 2008 financial crisis, and appointed the Federal Deposit Insurance Corporation as the receiver.
The Furniture Hustlers of Silicon Valley

The New York Times – Business:
As tech companies cut costs and move to remote work, their left-behind office furniture has become part of a booming trade.
FTX Negotiates for Return of $400 Million From Obscure Hedge Fund

The New York Times – Business:
The founders of the trading firm Modulo Capital are in talks with FTX about returning the investment that Sam Bankman-Fried made in the fund.
Ford Halts Production of F-150 Lightning Electric Truck Over Battery Issue

The New York Times – Business:
The automaker cited a potential problem with the battery pack of the F-150 Lightning but said it was unaware of any incidents “in the field.”
How Much to See a Movie at AMC? It Will Soon Depend Where You Sit.

The New York Times – Movies:
By the end of 2023, the movie theater chain will offer tickets at three different price tiers, with middle seats costing the most. You’ll pay less if you like the front row.
Gawker, the Irreverent Gossip Site, Will Be Shuttered Again

The New York Times – Business:
Bustle Digital Group, which publishes Gawker, said it would shut down the recently revived site after “a surprisingly difficult” start to the year.
Closure of Le Castiglione Signals the End of a Chapter in Paris

The New York Times – Fashion & Style:
With the closing of Le Castiglione comes the end of an era for a certain slice of Parisian life.
British Airline, Flybe, Collapses a Second Time

The New York Times – Business:
Flybe, once the largest independent regional airline in Europe, canceled all flights on Saturday. A new owner failed to save the carrier, which was already struggling when the pandemic hit.