p. morgan at c e o. working with others in the industry on a solution for the bank. that's all we know a solution. and what happened, the bank is still down. so if you're asking what's next for the bank, a buyout to fill your bill out. no one really knows yet and let's just find out what the headline is in tomorrow's market, and i'll probably give you a different if not the same incident. all right, but we've seen what silicon valley bank signature bank failing now 1st report because it's struggling all, all the us banks going to be next. what do you, what do you seeing? well, some are and some are and struggling. obviously if the u. s. bank is giving money to 1st republic, you know, giving us some cash to keep afloat. is a good chance that bank giving the money is doing just fine. all i can really say is the following. the big banks, those that are one of the 11 that gave 1st republic, 30000000000 and deposit, it's safe to say that they're doing. all right. it's the others, those us regional banks, banks. those are the banks that are on the radar. but today they loo

p. morgan's has its cooking up. a rescue plan will get the view from wall street and the banking shops don't stop. you. vs swoops in to save credit suisse and a shotgun wedding overseen by the swiss government. is it bad news for investors in both banks will speak to an expert also coming up, what happens to old car batteries? recycling can help harvest vital materials. the next generation of e commerce it's that time again dw business welcomed shares of us bank 1st republic have plunged more than 50 percent despite an earlier move by other banks to inject $30000000000.00 to keep it afloat. as and p global ratings is also downgraded the bank for a 2nd time in a week, causing investors to worry where the 1st republic can survive. it follows the collapse of silicon valley bank in new york based signature bank on the weekend fears over an ailing european bank. credit suisse were allayed after the swiss government pushed for a takeover by its competitor, u b. s. go get to credit suisse in a moment. but 1st, james sweene

p. morgan is such a big player so that what is happening is not so threatening as to see in the smaller player. so we definitely have to wait and see if the, what the federal reserve is doing that the, the trick. and there was one positive thing out of the financial crisis of 2008. because we learned a lesson to how to deal with bank runs. that maybe that is helping this time around that this banking crisis is not turning out into a big financial crisis or a young quarter falling all the turmoil in new york wall street. thank you much wellbeing fuel those fears were midsize lenders, is the concern that like silicon valley bank, others may be sitting on undervalued assets due to recent interest rate hikes. now, when interest waits, rates were low, banks deposited funds in to long term bonds. seem like the smart thing to do at the time, but interest rates have climb dramatically over the past year. and those bonds are now significantly undervalued. well, that's not necessarily a problem. if the bank and cit, the problem out and wait until those bonds are to be repaid. but if the bank is f

p. morgan chase. citigroup. bank of america and goldman sachs. argentina central bank has raised interest rates to 78 percent. a $300.00 basis point increase comes after year on year inflation exceeded a 102 percent in february, reaching triple digits for the 1st time ever. 3 decades. new zealand has become the latest country with at least past or restrictions on tick tock. banning the video app from any device is used by parliamentarians is due to cyber security concerns and it follows similar measures taken by the u. u. s. meanwhile, wants to band tick tock entirely if chinese and a bite dance went to divest it steak and strikes it for german airports of lead to the cancellation of hundreds of flights on friday. german union verde called on security on ground handling staff at airports in dusseldorf. cologne, bon stood group, stuttgart and bowden, bowden to strike, overpay and working conditions. in total, almost $700.00 flights with rounds, $89000.00 passengers were cancelled next, the word renewable might conjure up images of wind farms or solar panels. but what about burning trees? a

p. morgan chase and goldman sachs teamed up to rescue the san francisco based rival providing a $30000000000.00 cash deposit. first republic was hit by depositor withdrawals. after silicon valley bank collapsed shares, headphone 80 percent in the past week. i'm joined now by brad set, sir, from the council on foreign relations. mr. sets are some of the biggest us banks, teaming up to save a rival. what's in it for these banks? well, i think all banks now have a stake in the stability of the u. s financial system. i think all of the major banks that participated and the deposit that was placed with 1st republic are looking to allow a little bit more time for our 1st republic to either raise funds on his own to recapitalize itself, which seems a bit unlikely or more likely ridge to take over a 1st republic by one of the other major banks in the united states for public. so mid sized bank, so it would be it wouldn't be unreasonable to see it purchased by another stronger regional bank or by one of the us bankers you just mentioned to take over by other banks. and we've seen that despite the financ

p. morgan chase must face lawsuits over allegations tied to the lead finance your jeffrey apps. fc that's according to the u. s. judge, the 2 banks are accused in series of lawsuits of enabling obscene sex trafficking, one suit as well by the u. s. virgin islands. the judge ruled at banks was also faced proposed class action suits by up seeds, victims german car maker volkswagen will receive $1300000000.00 from the state of south carolina where plans to build a manufacturing facility for electric vehicles. subsidies are part of the u. s. inflation reduction act, which supports green investment. e u has been critical of the washington initiative, which it says disadvantages europe, as the destination for investment. sri lanka sets received the 1st batch of international monetary fund financing within the next 2 days. yeah, m f approving a nearly $3000000000.00 bill off the island nation and saying today that disbursements would be tied to reviews that are set to take place every 6 months. or i, my colleague, cassandra site is here in studio to help us understand the still more cassandra, w

p. morgan, chase private banksj.p. citigroup including injecting some huge amount of money, $30 billion in two first republic to keep it alive. fine republic to keep it alive. one thing that _ republic to keep it alive. one thing that we _ republic to keep it alive. one thing that we are _ republic to keep it alive. one thing that we are seeing is janet trying to reassure the markets and its ability to shovel off the 2008 financial crisis and do you think that she is going to succeed? it's been a very volatile time and people are waiting for the other shoe to drop with some other shoe to drop with some other banks.— other banks. that is the big concern- — other banks. that is the big concern. we _ other banks. that is the big concern. we have - other banks. that is the big concern. we have seen - other banks. that is the big concern. we have seen a i concern. we have seen a positive response in this country and the banks have said that this illustrates the confidence that they want to try and get their message out there

p. morgan or something, but for orj.p. morgan or something, but for now, things are fairly stable., but the fact is, the risk teems with these banks had what is called duration risk, so they had held securities that had a very low interest rate as the fed was raising interest rates, so they did not have the liquidity to because of the assets they held to keep up with the needs of the bank, and so the risk team should have traded up those assets but they didn't, and so the fed now is making sure that banks have the right duration risk within their portfolios and they have their portfolios and they have the facilities in place to allow banks to exchange that out. ., , ., , allow banks to exchange that out. ., , ., ~ , out. tony nashe, thank you very much for — out. tony nashe, thank you very much for that _ out. tony nashe, thank you very much for that explanation. - much for that explanation. thank you. a major clean—up operation is under way in a small town in new south wales after millions of fish died in a local river. it has now been almost a week since the incident and it's bee

p. morgan chase, bank of america and 9 other major financial institutions came to the rescue of the california bank 1st republic on thursday, depositing some 30000000000 dollars into the bank to shore up its finances that sent its stocks and the banking sector in general. back into positive territory. approaches broke out in paris after the french government forced through controversial pension reform. without a vote in parliament, came up to the government failed to convince a majority of m. p. 's to back the bill. changes raise the retirement age from 62 to 64. present during my call says it's essential to cover pension deficits. when i was president, his appealed for global support. after a tropical psychos hit the east of southern africa, soccer and freddie is one of the deadliest and longest lasting tropical storms to hit africa in recent years. at least 326 people have died and hundreds of missing in malawi, after mud slides and severe flooding tor through the region. the us military is released video of an encounter between a russian fighter jet and the u. s. drone. the pentagon says th

p. morgan, chase city bank, bank of america. i and others also seem declines ranging from 2 to 3 percent as investors worried whether or not these institutions can deal with rising interest rates and an unsettled economy. the scandals are, are really assigned that management is not where it should be. and i think that's the 1st thing that anyone looks at is that say, what does this institution have? good management? can we rely on that to take care of our money? if that can't be a resounding yes, that every one is going to doubt everything else about the bank. but it wasn't just financial sector stocks that suffered on wednesday across the board. the markets took a hit. the dow jones industrial average at one point down more than 2 percent recovered slightly, but commodities also took hits and investors poured their money into government bonds, treasuries that are seen as a safety investment driving down yields on the bonds as well. now the head of the securities and exchange commission did try to reinforce reassure investors by

p. morgan chase city group, bank of america. and wells fargo agreed to deposit $5000000000.00 apiece in 1st republic with other banks supply smaller amounts. in a joint statement, the big bank said their rescue plans showed their confidence in 1st republic and banks of all sizes which they added are critical to the health and functioning of the financial system. are pretty jar, jovial group treasury secretary, janet yellen tried to convince congress and the public that there is no cause for panic. when my lead, i can reassure the members of the committee that our banking system is sound and that americans can feel confident that their deposits will be there when they need them. this week's actions demonstrate our resolute commitment to ensure that our financial system remain strong and the depositors savings remain safe. will the private sector rescue and public sector rhetoric be enough to quell investors? queasiness stock, market indices, closed hire one sign the strategy may be working. but analysts say there is real fear in

p. morgan chase. that prediction is based on the amounts of uninsured deposits that 6 us banks. the government is now point to potentially pump trillions of dollars into the economy under the bank term funding program, which was set up earlier this month following the collapse of 3 major lenders, partition, american invest, mitchell fi, assign saves the move, could only lead to more inflation without actually addressing the root of the problem, the federal reserve is going to offer the banks who have $1000000000.00 worth of securities, treasury securities, 1.25 $1000000000.00 in cash. this is just extreme leverage and it will be highly inflationary and terrible for the economy there as far as the banks solvency . look, silicon valley bank was the woke bank. we had, i had dealings personally with them and i didn't find any of their senior people that i dealt with competent at all whatsoever. and in fact, we pulled our money out of the institution in 2018 because they didn't meet up to my standards. so silicon valley bank basically based all their lending decisions in their busine

question p morgan and deutsche bank have several claims filed against them with ties to jeffrey epsteina demand district court rejected a majority of the claims. the judge allowed three of the best to proceed. global news, 24 hours a day on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. >> i put in has welcomed xi jinping for three days of talks. allowing them to present the peace plan. david ingles is in hong kong. keenly awaiting any developments. what is the key takeaway? >> the key takeaway is what can xi jinping do to get blood may put into come to a negotiating table with the other parties. the issue is not between moscow and beijing. they have that no limits partnership. xi jinping did not reiterate that pledge of a no limits partnership. we all know every relationship has limits and the war in ukraine since that pledge was made before the war started more than a year ago has been tested. the key takeaway could be if xi jinping goes to moscow which he is there for three days starting yeste

p. morgan chase. their prediction is based on the amount of uninsured deposits that 6 us banks. the government is now poised to potentially pump trillions of dollars into the economy under the bank term funding program, which was early this month following the collapse of 3 major lenders as good life now to british american invest, mitchell, fire sign money. thanks for joining us on the program this evening at festival look kind of what else can you tell there's really about this bang term funding program and, and how effective could it actually be? well, the bt f p they, they cracked this one up. they came up with it. i think last sunday when they had problems with silicon valley bank. i mean, this is a long term problem, but this is quantitative easing just like jerome paul said, a month ago or, or even a year ago he said this is not a q e program. this is another q e program. it's q infinity quantitative easing started during the great financial crisis in 2008, and it never really stopped. yes. what they're doing is that they're the federal reserve is going to offer the banks

p. morgan chase, also seeing their starks fall down in some cases between 2 and 6 percent as worries are re ignited over whether or not the banking system here is up to the latest challenges and per killer with interest rates rising so much recently and the impacts we've felt beyond the banking sector. now we're seeing an impact across the markets. here are the major indices are all trading in the negative today at one point the dow jones industrial storm, more than 2 percent. it's recovered slightly from those lowes but still trading in the negative. and again, it's not just banking stocks. we're seeing commodities, oil prices are lower and money being poured into government bonds, which are seen as a safer investment in times of trouble. as a result of that, their yields are falling as well. we've had today, the chief of does us securities are b. as you see the securities exchange commission and try to reassure the markets that they're on top of this, that they're investigating, they will prosecute anyone for irregularities or for misuse that would lead to global instability. but clear

p. morgan chase city bank, bank of america have been down for most of the day, but they've come off their lows. the nasdaq k, b w, index of commercial banks was down 8 percent at mid day. that's better than the 13 percent earlier in the day. the regional banks, banks that you may not know by name are the ones that seemed to be really struggling, led by one called 1st republic. that was down as much as 70 percent. that prompted the stock exchange to stop trading of some of these more volatile stocks, which were plunging and heading for a route diet over all things seemed to be improving a little bit on the market, stabilizing a bit. but obviously investors are very concerned about what this means for the long term solvency of these banks and for their investments in them. because as we just heard from our president joe biden, while the government says it will protect depositors who have money in these banks . investors have no such protections and could see significant losses of this trend continues. christian, thank you for that update. kristen sent me life for us at the new york stock ex

p. morgan chase, bank of america and 9 other major financial institutions came to the rescue of the california bank 1st republic on thursday, depositing some 30000000000 dollars into the bank to shore up its finances that sent it stocks and the banking sector in general. back into positive territory. the worry of course, after the failure of silicon valley bank in california was that other banks would follow suit. depositors were getting nervous. they might try to withdraw their money in banks without enough liquidity would fail. that was weighing down the markets in the banking sector, particularly 1st republic shares started the day on thursday down some 70 percent on this news though, they rebounded in close the day of 10 percent and still haven't made up all of the losses for the last week. but they're heading in positive direction. there was other positive news affecting the markets today. the deal to short credit suisse also being factored into the the mood here on wall street. janet jaelyn, the treasury secretary of the united states, spoke before a senate finance committee, also reassu

p. morgan, chase, 5000000000 into 1st republic. that's nothing to a institution that has more than $2.00 trillion dollar. okay. in total assets, right. rob reynolds line for stay in los angeles. rob, thank you. all right, it's bringing cornelius hurley. he's a banking nor professor at boston university and former director of the federal home loan bank of boston. he joins us live from sandwich, massachusetts that coney, his coach abby back with us. let's talk 1st then about 1st republic we've seen wall street ride to the rescue here and inject cash into the lender. is this going to be enough to prevent customer flight on a run on the bank? do you think? well, as your correspondence set on the scene just a moment ago, the answer is maybe. here we have 11 us banks rescuing this regional bank in california. the most people outside the reach and haven't heard of it. and yet at the bottom line, it's an issue of confidence that the public to the investors have confidence in this bank or anything. and i think it's interesting to note follo

p. morgan chase and city bank. ah, but the regional banks names that you may not know so well are the ones that are really leading the declines. one bank called 1st republic was down 70 percent in that lead regulators here. the stock exchange to stop trading on some of those regional banks that were just plunging too quickly, too fast. they put the pause button on there. but again, overall the market seems to be recovering a bit. and investors are actually pricing in the fact that because of this, these extreme measures that were taken to shore up the banks over the weekend, that the federal reserve may, in fact, now not raise interest rates as much as had been expected or projected in the coming months of course, are raising interest rates, man to as a way to get a handle on inflation. but investors betting on the fact that maybe now that won't happen. and so seeing some positive out of the negatives of these recent bank closures and not helping the markets overall while banks continue to struggle. thank you for t

when executive edgy p morgan reportedly told his client that he believes we are quote, past the pointn, and quote. and then hope sustaining offers session can already be in the rearview mirror. all this comes against the backdrop of a stressful two weeks in the banking industry, and what you saw the failure of two banks, silicon valley bank, and signature bank. in the wake of those failures, we have been increasing calls for the federal deposit insurance corporation, the fbi say, to ensure all bank deposits, eliminating the $250,000 per account cap that it generally covers, or currently covers. treasury secretary, janet yellin, says she will not consider any plans to ensure all customer deposits right now, at least not until it's approved by congress. joining me now is a democratic congresswoman maxine waters, of california. she represents the states 43rd congressional district in the los angeles area. she's the highest ranking democrat on the house, financial services committee. and a great friend of russia. congressman, good to see this but. >> delighted to be with you, this morning

p. morgan chase are in negotiations to shore up another regional bank, which was feared to be on the verge of collapsing, like those 2 other regional banks in the united states that lead to this panic in the markets in the last week. and that seems to be reassuring investors and the broader market somewhat. also we've had janet yellen, the treasury secretary of the united states, speaking before a senate finance committee this morning, also sounding words of calm and reassurance for americans and lawmakers and investors saying that the u. s, banking system remain sound and that the americans can feel confident that the deposits in their banks will be there when they need them. all of this seeming to calming markets a bit. kristen, the, the, the day of trading is still young, where you are, what are you going to be watching to does a possible indicator or indicators of where this might all be added? well certainly if there is a deal announced to sure up this one bank that was faltering, that will likely have a very positive effect on the markets over all. but really the big picture is more

p. morgan, chase, bank of america and 9 other major financial institutions came to the rescue of the california bank 1st republic on thursday, depositing some 30000000000 dollars into the bank to shore up its finances that sent it. stocks and the banking sector in general back into positive territory. the worry of course, after the failure of silicon valley bank in california was that other banks would follow suit. depositors were getting nervous. they might try to withdraw their money and banks without enough liquidity would fail. that was weighing down the markets in the banking sector, particularly 1st republic shares started the day on thursday, down some 70 percent. on this news though, they rebounded and close the day of 10 percent and still haven't made up all of the losses for the last week, but they're heading in positive direction. there was other positive news affecting the markets today. the a deal to short credit suisse also being factored into the the mood here on wall street. janet jaelyn, the treasury secretary of the united states, spoke before a senate finance committee, also

p. morgan chase, the biggest bank in the u. s. has 2.3 trillion in assets compared to 200000000000 in silicon valley bank. so why give those numbers is because silicon valley bank could have easily been bought, especially after the tone most of the last week. clearly there been no buyers, it goes into bankruptcy now, still a chance for buyers to pick it up at this point, but very troublesome, that even in this depressed state, it cannot be rescued by any one else. capitalize on their live at the new york stock exchange for a thank you game. well, us president joe biden now once congress to impose tough of punishment from banking executives. as you know, i was trying to reassure the public after the collapse of silicon valley bank. let's bring in our white house correspondent can be how good she is across the 4th in washington dc. kimberly biden's spill here trying to stem the contagion. yes. right. yes, president is gravely concerned that there is this perception that he has really fronted, bailing out a lead bankers at the expens

while awaiting trial.ha if that is what you believe,s wh that is what we have been told.l now, jy p morgan has previouslyi terr this is all a big fishing expedition, laura , noting that the territory has already recovered more than one hundred five million dollars from epstein's estate. but they are digging and we'll keep watching. laura . >> kevin , the concern is that there are epstein was known to have surveillance all around that island. that's where cameras everywheree .f >> have we've seen any of that footage of who is coming out of there? what happened to that?n >> yeah, we haven't seen that footage. what about the thing over infoot new mexico? neco, theri mean, there's a lot this story. >> he had a place inll, and new york as well. i haven't seen a black book. sek i haven't seen video ofand go the people who are coming and going.in i'm sure it's out ther it ise somewhere. i >> alec has not yet seen it. yes. kevin , thank you. great to see it.to see you toni. tonight. bi and speaking olliof billionaire, why are so mannay suddenly u scooping up huge swaths of land across america? bil

p. morgan chase citigroup. bank of america and wells fargo agreed to deposit $5000000000.00 apiece in 1st republic with other banks supplying smaller amounts in a joint statement, the big bank said their rescue plans showed their confidence in 1st republic and banks of all sizes which they added are critical to the health and functioning of the financial system, i, a pretty jar, jovial group, treasury secretary, janet yellen tried to convince congress and the public that there is no cause for panic. woman, i can reassure the members of the committee that our banking system is sound and that americans can feel confident that their deposits will be there when they need them. this week's actions demonstrate our resolute commitment to ensure that our financial system remain strong and the depositors savings remain safe. will the private sector rescue and public sector rhetoric be enough to quell investors? queasiness stock, market indices, closed hire one sign the strategy may be working. but analysts say there is real fear in the financial sector. the shareholders are at risk, as was noted t

jonathan: we see the ceo of morgan stanley drawing us in the next hour. s&p is unchanged, a welcome development given the volatility we have seen. lisa a: for now. it is always like who knows? jonathan: will it stick? it is a mystery. yields down three basis points, 3.5468. this is lisa m: keeping you up-to-date with news from around the world. with the first word, i am chinese leaders xi jinping will travel to russia next week. his first trip to russia since it invaded ukraine. during the trip, xi is expected to discuss china's recently released 12-point blueprint for ending that war in ukraine. a document that was dismissed by most western governments. xi and ukrainian leader vladimir zelensky also will speak by video link soon. china's central bank cut the amount of cash banks must keep in the reserve in effort to stimulate the economy as it gradually recovers from restrictions. people's bank of china said they reduced the reserve requirement ratio or almost all banks, effective march 27. charles schwab had $8.8 billion in outflows from its prime money mar

. -- and vishwanath tirupattur of morgan stanley p as we close out the final trading day of the week final trading day of the corridor, look at where to year treasury yields are now, 4.09%, the high for this month as you know was above 5% and is a long time ago. benchmark treasury yields currently at 350, the number like a magnet but earlier this month we were above 4%. again feels like a long time and you know that banking crisis left a mark. quick check on the s&p 500 now up .9%. stocks continue to rally. from new york, that does it from us and we will see you in two weeks after a break. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network, with no line activation fees or term contracts... saving you up to 75% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibiliti

charles schwab is the worst performer on the s&p 500 odd. morgan stanley down graded the financial services company to equal weight from overweight. the firm cites an uncertain earnings outlook due to less visibility for customer moss it out-- deposit outflows. the collapse of silicon valley bank earlier this month is weighing on shares of the spanks including -- banks including schwab shares, down 33% in march. and we have one day left. all of this as markets eye the pce inflation report tomorrow. that's what the federal reserve looks at too. and with that we bring in jpmorgan asset management chief global strategist david kelly. david, thank you for coming on. good to sew you. >> glad to be here. lauren: all of this banking stress, what is the fed going to do stress the, and you look at the markets for the month, nice gains. i mean, the nasdaq's up over 4% this month. >> that's right. and i think what people are sensing is that there may be a bit of a silver lining to all this chaos. there certainly has been a lot of turmoil in wangs -- banks, bu