Silicon Valley Bank's former parent company, SVB Financial Group, filed for bankruptcy a week after a run on deposits prompted regulators to seize its banking unit. This as President Joe Biden seeks tougher penalties for executives of failed banks. 

Silicon Valley

Three U.S banks including the Silicon Valley Bank have failed and Credit Suisse has been handed emergency funding amid the biggest crisis since 2008.

Banking Crisis

Silicon Valley Bank parent company goes bankrupt

With us now, to break it all down at your house, on every single day of the week and the weekend before bring bags volleyball. So I got to know, what does it mean for the parent company to file bankruptcy and who's involved? There are a lot of questions would be considered here. I've been following this closely I've been asking all week, why has there not been a bankruptcy filing? Now, what you'll have is Predators will want a certain amount of money back number one, number two, there's certain assets that will not be included here, or certain banking assets and it's cluding some of the assets tied to his Ventures portfolio a year and its Securities business as well. What I've been hearing throughout the entire week was a difficult as it has been to sell assets to recoup value here. Now, this is under the overseeing of a bankruptcy judge as well, the whole Pier is that there is enough. Money can be redeemed, pure by options for some of these ass. I mean SPC Financial that. Did the chapter 13, it continues to be a California under the receipt for the FDIC Sioux kennel. See, that's astonishing reporting on the Bloomberg Terminal, 1 year ago, the San Francisco's fed for in a new assessment team. Quickly Flags issues at that bank and alls management act when it will be reported. As this is a very complicated thing in. There is a lot of questions being asked not just about how they lobbied for easy, and that's when it came to how they operated. There's a lot of questions here about whether the system across the United States is not equal to begin. With one example that you pointed out, frankly head is that, that the rollback and rules really helped catapult the expansion year of Silicon Valley Bank in the most recent years. I would also say that when it comes to the way they lent to businesses, they had different rules and some of the large Thanks that are OCC Charter. That is Office of the Comptroller of currency charger. Did really strict rules around leveraged lending, and lending to unprofitable, Venture back companies, which is why. Now, when you're seeing these firms, trenches and fly and circle assets around that venture-backed loan portfolio. Even private equity in private Capital. Firms are saying this is a no-go because it's not how they were used to lending. So it's a complicated equation. That doesn't mean things won't get sold. People are definitely looking at the pieces of pie in the ass is here. But your point here regulations or lack thereof. The process of kind of pushing for lighter regulations that won't just be looked out for this firm, guys. It will be looked at for a lot of the smaller firms that have done the exact same thing. We paint sales, Caroline and I think the question we can all throughout this program is about accountability. In other words, who is responsible for what happened? Call David Joe Biden, President, Joe. Biden is looking into accountability. We still have that ships to fool with other Regional and has the bonds as well. When you look at First Republic, just how much in value, this company has lost this week alone is now less than five billion dollar Company by market value. We look at what we've been talking about this. My sources were saying, this is something you could have maybe bought on Thursday night before that 40042000000 dollar deposit flight, but things that you really quickly they're trying not to make this happen for First Republic Republic still has a lot of amazing assets, by the way, for the California Community, talk to Banks across the country for the public, really dobyns in a way, that a lot of big banks that were not on top of it as quickly as they were, when it came to catering to the elite of a California, certainly, the country, they wealth manager, big mortgage lender, for example. And so a lot of questions about the future First Republic as well. Goals for the California Community, as well as the rest of the country and whether this is a bank that can be sold, ultimately, and that is something that market is watching for very closely.

Australian Prime Minister Anthony Albanese fought back tears on Thursday as he revealed the question the government wants to ask in a referendum on whether to recognise Aboriginal and Torres Strait Islanders in the country's constitution. 

Canberra

Australia set to vote on indigenous referendum

Pakistan's former Prime Minister Imran Khan says it is only a matter of time before he is imprisoned or killed. He made the remarks in an online post, in which he spoke out against the government and the military. The Lahore district administration has granted permission to Pakistan Tehreek-e-Insaf (PTI) to hold a rally at Minar Pakistan between the night of the 25th and 26th of March.

Lahore

Imran Khan wars 'matter of time' before his murder

The United States Federal Reserve has announced its latest interest rate hike, a move aimed at lowering inflation by making borrowing more expensive for consumers. The increase of a quarter of a percentage point on Wednesday sets the US central bank’s benchmark overnight interest rate in the 4.75 to 5 percent range, its highest level in 15 years.

Wall Street

U.S interest rates hiked again

Former U.K. prime minister Boris Johnson clashed with MPs at a hearing over parties held at Downing Street while the rest of the country was in lockdown. The scandal, which drove Johnson out of the prime minister’s office, could now get him booted from Parliament.

London

Boris Johnson grilled over Partygate

Seventeen Ukrainian children who were sent to camps in Crimea by Russian officials were reunited with their families in Kyiv today. They are among thousands who were transferred to Russia or the regions it occupies. It follows charges laid against Vladimir Putin over the alleged kidnappings levelled by the International Criminal Court.

Kyiv

Ukraine Invasion

Children 'taken' by Russia returned

The House of Commons voted 515-29 to back a key portion of The Windsor Framework, designed to resolve a trade dispute between the UK and Northern Ireland.

Westminster

Sunak's Brexit deal clears Commons vote

Two Defence Force personnel have been injured after an Australian Army helicopter crashed into the water during routine counterterrorism training on New South Wales south coast. There were 10 personnel on board the aircraft when the incident occurred and all have been recovered from the water. Chief of Army Lieutenant General Simon Stuart says the incident had the potential to end in "tragedy".

Jervis Bay

Two army personnel injured in helicopter crash

Ukraine's President Volodymyr Zelenskyy visited his troops near the frontline city of Bakhmut, the ongoing battle for the city being one of the bloodiest of the war. Footage released by the president's office shows him handing out medals and visiting wounded in the Donetsk region, where Bakhmut is located.

Bakhmut

Zelenskyy visits Bakhmut frontlines

Emmanuel Macron has defended his Government's decision to force the controversial pension reforms through Parliament during a rare national 
television address, designed to quell the violent protests that have gripped the country. The French President condemning the violence, saying he had 'no regrets' despite facing multiple no-confidence motions.

Paris

'No regrets': Macron defiance amid protests

Former British Prime Minister Boris Johnson insists he did not lie to lawmakers, defending himself at a parliamentary hearing as part of a probe into whether he misled lawmakers over rule-breaking Covid-19 lockdown parties. Johnson faced a grilling before a cross-party committee that has the powers to suspend the MP and force a by-election in his London seat.

'Hand on heart': Boris denies lying

Stocks on Wall Street have climbed after the rescue of Credit Suisse calmed nerves about a larger banking crisis. The United States treasury secretary, Janet Yellen, says the local financial sector is stabilising after it was put to the test by the collapse of two banks this month. But the world's largest economy is still facing some strong headwinds.

U.S bank failures 'very different' from 2008

Xi Jinping and Vladimir Putin stress that'“responsible dialogue' is the best way to resolve the Ukraine crisis as Moscow reaffirms its commitment to peace negotiations. The Chinese leader says Beijing has an “impartial position” on the conflict in Ukraine and supports peace as Putin says China’s peace proposals could be used as the basis for talks.

Moscow

Xi's trip to Russia: A boost for Putin

A Virginia grand jury formally indicted 10 people, including police officers and hospital workers, over the death of Irvo Otieno - a Black man who was restrained before he died in a mental health facility. His family demanded justice and mental health reform. 

Richmond

Video shows police 'piling on' man before his death

Lawyers for Fox Corp faced a sceptical judge on Tuesday (March 21) as they sought to block a $1.6 billion defamation lawsuit by Dominion Voting Systems from going to trial, while the voting-technology company accused Fox News of knowingly airing vote-rigging claims that the network knew were false.

Delaware

Fox News fights to avoid trial by jury

Russian President Vladimir Putin said Tuesday a Chinese peace plan could provide a basis for a settlement of the fighting in Ukraine when the West is ready for it. Speaking after talks with Chinese leader Xi Jinping, Putin charged that Ukraine’s Western allies so far have shown no interest in that.

Russian Sanctions

Putin: Ukraine 'doesn't want' peace

Former British Prime Minister Boris Johnson is battling for his political future as he tries to convince a cross-party committee that he 'unintentionally' misled Parliament over the Partygate scandal. If the committee decides he 'recklessly' misled MPs, he faces a suspension from Parliament that could force a by-election in his West London seat.

Boris Johnson in trouble again

A magnitude 6.5 earthquake was felt across huge swathes of Afghanistan, Pakistan, and parts of India on Tuesday night, forcing people to spend the night outside.

Islamabad

Deadly earthquake rocks Pakistan, Afghanistan

Japanese Prime Minister Fumio Kishida has offered strong support to Ukraine during a visit to Kyiv, inviting President Volodymyr Zelenskiy to the G-7 Summit in May.

In Kyiv, Japan's Kishida backs Ukraine

Russian President Vladimir Putin and Chinese leader Xi Jinping discussed Beijing's proposal for a ceasefire in Ukraine in talks in Moscow, while displaying a warm friendship forged on a mutual rivalry with the West. China has refrained from condemning Russia or referring to Moscow's intervention in its neighbor as an "invasion". It has also criticized Western sanctions on Russia.

Xi urges Ukraine ceasefire during Putin talks

The NATO Secretary General said China needs to "understand Ukraine's perspective" and engage with President Volodymyr Zelenskyy.

China 'must condemn' Russian aggression; NATO

Russian authorities on Tuesday detained human rights activists including members of the Nobel-winning Memorial organisation after raids on homes and offices, sparking an outcry among the international human rights community. 

Tsentralnyy administrativnyy okrug

Russian Police raid homes of Nobel Prize winners

Protesters are trying to pressure lawmakers to bring down the government and doom the unpopular retirement age increase President Macronis trying to impose without a vote in the National Assembly.

Protestors rally as Macron survives no-confidence vote

U.S. President Joe Biden signed a bill that requires declassification of information related to the origins of the coronavirus that causes COVID-19. Whether the pandemic was the result of a lab leak from China's Wuhan Institute of Virology, or jumped from animals to humans at a Wuhan market remains a hotly contested debate. China has said there is no credibility behind the lab leak theory.

Wuhan

Biden orders release of COVID intelligence

Russia has opened its own criminal investigation into the International Criminal Court's (ICC) prosecutor and judges. Russia’s Investigative Committee says the ICC has knowingly accused an innocent person of a crime, in another show of defiance against the court.

Russia retaliates after Putin arrest warrant

A damning report by an independent member of Britain's House of Lords has found that London's Metropolitan Police force is institutionally racist, sexist, and homophobic. In her report, Louise Casey says officers are not properly vetted and calls for wide-ranging reform.

London Police 'racist, sexist and homophobic'

Anticipation is building over reports that former U.S. President Donald Trump could be indicted as early as today. Barriers have been erected around a Manhattan courthouse in anticipation of protests after Trump called on his supporters to protest any moves to arrest him. 

New York

U.S braces for 'unprecedented' Trump arrest

China's Xi Jinping received a warm welcome from Russian president Vladimir Putin in Moscow. Western allies will be watching this visit closely for signs China may be considering supplying weapons for Russia’s war in Ukraine, despite China’s claims of impartiality.

Xi Jinping calls for Ukraine ceasefire

Top climate scientists released their final assessment report on climate change, declaring this is the last chance to limit human-caused global warming to 1.5 C above pre-industrial levels before the damage becomes irreversible.

Climate Crisis

Report finds global warming 'likely' to hit 1.5C

The French government has survived two no-confidence votes in the lower chamber of parliament after its push last week to raise the retirement age to 64.

Macron survives no-confidence votes

New York City police officers erected security barricades outside Manhattan Criminal Court and Manhattan District Attorney Alvin Bragg's office Monday ahead of a possible indictment of former President Donald Trump and potential civil unrest from his supporters.

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Banking Crisis