what we're seeing is it's very similar to what was happening during the former western back to san republic where, you know, now the current tele bonner, on a small camera will say that, you know, where to feeding the so called diet forces. we would knock them out where, you know, they're, they're powerless at this point, but then they will go with stage, another attack. and, and so it's showing once again, that, you know, fighting some kind of an armed opposition or insurgency or terrorist cobra. however, you want to define it is not very easy even when you are a group that engage in these activities yourself. not too long ago i left t cobble for us. thank you very much for talking to d w. thank you. a quick look now at some of the other stories making use around the world. a civil case brought by a former elle magazine columnist against x u. s. president. donald trump has begun with jury selection. e jean carol ledges trump raped her in a department store dressing room in the 1998 from says he's never even met count. it's just one of many cases and investigations. trump is facing a japane

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a surprise. >> but given the situation first republic, it is surely a >> approach. assistant professor of finance at san jose state university. julian vogel says he was confident cuts were coming to first republic bank, but he thought the cut to be closer to 15% of the workforce. he says he was positively surprised to see the cuts being made throughout the company. also, the executives are taking a a pay >> the shareholders they suspended. overall. i think they're doing the best they can in the situation. the situation can be linked to the collapse of silicon valley bank last month. first republic deposits were down 173 billion by march 9th. >> compared to the end of 2022, during the collapse, depositors at first republic pulled more than 100 billion dollars out of their accounts. we've federal stepped in to broker a deal and we have seen very quick and swift with a >> financial aid to help. first republic. and i think she's in it. for potential banks in the future, smaller banks in the in the near future, especially we can expect to see quick help. since then, deposits have been more steady. but first

shares of san francisco first republic bank plummeted by more than 33% today with investors expectingn fdic takeover. they saw a sharp drop of deposits after the collapse of svb and signature bank last month. joining me right now is julian vogel. assistant professor at san jose state university. thank you for joining us. literally, this just reuters reporting the ftse is preparing to place first republic under receivership imminently. what does that mean? >> failed bank. so selling off assets and meeting the obligations of the bank. kristen: does that signal that first republic bank is about to collapse? >> receivership, that essentially means that the bank has collapsed. kristen: remind our viewers how it got here and how it was triggered when it was triggered when i started with silicon valley bank last month. >> sure, so, there is no direct spillover from each of these banks, it is more of an independent set of problems that affects all of these banks at the same time. and this and set of problems starts with the fed raising interest rates, which then leads to the treasury bills th

the fdic is looking over bids for san francisco-based first republic bank.eral regulators set a 1:00 p.m. deadline today for banks to submit their best takeover offers. according to yahoo! finance out of half-dozen banks including chase bidders t an me. last month the fdic took control of silicon valley and signature banks both of which were failing. customers concerned about first republic's health began withdrawing more than a billion dollars worth of deposits. that has led to first republic's stock plummeting 75% since last monday. ♪ city of belmont hosted its largest community event of the year today. school forces celebrate the music festival raises money to keep music programs in schools. the festival showcases local bands and performers plus musicians from local belmont redwood shores schools. coming up a windy cooler day as we take a live look out side at our emeryville camera. you cannot tell from this vantage point it is windy. we have abc7news weather anchor frances dinglasan up next. >> the warriors in a their playoff lives. stephen curry is here

. >>> san francisco's first republic bank may have a new owner by the end of the weekend. when silicon valley bank collapsed, on monday first republic rebuild it lost 40% of its depositors in the first quarter of the year. doc fell drastically and it led the fdic to start asking other banks for financial takeover offers. jpmorgan chase, pnc and bank of america are likely competitive bidders. >>> police are trying to piece together what led to a shooting death in oakland. altercations took them to the coroner around two 130 this morning and officers found a woman shot and try to help her until paramedics arrived but the woman did not survive. >>> one person is that after a fire tore through a san francisco home. flames broke out at a home. firefighters arrived within minutes. after searching they rescued one person and try to treat their injuries but ununfortunatelely that peperson the cacause of ththe fire is u investigigation. >>>>> we are e leararning abouo anotheher fire is the last night. we knowow it started around 10 p.p.m. in an n open spacece. flames q quickly sprp

in europe. shares of the san francisco based bank 1st republic of plunge to record low. the banks share price dropped almost 50 percent on news that depositors withdrew at least a $100000000000.00. in the 1st quarter of the year, philippine present ferdinand marcus junior is overseeing his country's largest ever joint military drills with united states. or in 17000 troops are taking part in the land, air and sea exercises. they include areas near waters contested by china. singapore has executed a man for a drug offense despite international please. for clemency tank, a roger cynthia was hanged on wednesday morning, or to being found guilty of trafficking more than a kilogram of marijuana. the ordination says violence in haiti's capital. puerto prince has reached level similar to those of countries at war, has been further evidence of the scale of the problem with more than a dozen suspected gang members killed. men apparent vigilante attack in business groups from across brazil have held a rally in a capital priscilla. they say current policies threatened their traditio

that francisco's based first republic may not -- san francisco's based first republic may not survivellars per share yesterday. more than 50% of its value wiped out this week after banks said customers withdrew 40% of its deposit this year. republic will sell off unprofitable assets including low-interest mortgages and layoff up to a quarter of its workforce possibly. we will take a lift look at the new york stock exchange -- looks like we do not have it. the first song from the upcoming live action film the little mermaid is now out. kumasi: halle of your world. ♪ wait. that was not enough. reggie: that was not enough. [laughter] ♪ >> how many wonders can one cavern hold? kumasi: they know song to get everybody excited. if you want to hear more of it, disney released the song on youtube along with clips from the film. what is happening? so much. along with halle bailey, daveed diggs is sebastian. melissa mccarthy is urszula. javier barde disney is a parent company of abc 7. doing really need to plan to go see this? we were supposed to see cocaine bear. we never went. reggie: i was ne

republic bank. >>> and an exciting road trip for the giants. the team taking on the san diego padres in mexico. fans here in the bay area are getting the party going from thousands of miles away. >>> thank you for joining us, i'm terry mcsweeney. >> i'm gia vang. still in the dark tonight. without power following a blackout the week. the outage began wednesday night and crews learned about damage to underground equipment near the clay and montgomery area. at its peak, more than 9,000 customers were without power. right now there are some 300 customers still in the dark. >> a look at pg&e's outage map. not a lot on there initially. pg&e said power would be back on by 10:00 this morning. that didn't happen. that was pushed back to 3:00 p.m. and it's still unclear exactly when power will be turned back on to those 300 customers. >>> well, police there trying to piece together what led to a shooting death in oakland. notifications from shot spotter took them to the area of mcarthur boulevard near 96th avenue around 2:30 this morning. they tried to help the woman until paramedics arrive. the woman d

dan: san francisco bay's first republic bank is set to slash nearly one quarter of its workforce. the bank says it plans to cut 20% to 25% of its workers after pointing that deposits fell in the first quarter. the drop comes even after receiving $30 million from other banks to prevent it from failing. analysts say the bank deposits have stabilized after a sharp drop following the collapse of sunken valley bank and signature bank. ama: the state is providing more funding for a transfer torsion project in the south bay -- transportation project in the south bay. the authority has received a $46 million grant. the money will be used to extend farther south to the eastridge area. >> udo, this project is about more than connecting transit. it provides greater opportunity to the bay areas come to the larger region, and to the others, it connects our neighbors. ama: the light rail extension is considered the final piece to connect riders from south san jose from b.a.r.t. riders. down. i knew san francisco walk challenges the public to take on many of the city's steepest hills cities in t

san francisco based first republic bank announced plans to lay off up to 25% of its workforce. the news came as the bank released its first quarter earnings. the bank also reports depositors pulled out more than $100 billion out of the bank, believing that first republic could be the third bank to collapse after silicon valley bank the and signature bank in new york. the bank made a partial recovery after several large banks stepped in and made $30 billion in uninsured deposits. first republic now, says 1800, though of its 7200 workers could lose their jobs as it restructures joining us now to talk more about what this means for the banking industry and consumers. jim wilcox, economics professor at uc berkeley's high school of business. good morning, jim. thank you for joining us on this. first, let's talk about the consumers because we talked this morning about how social media has played a role and kind of driving some hysteria, the reality as most of these people who are pulling out their money probably have less than $250,000 in an account which is secured by fbi see right?

federal regulators set a deadline for big banks to help san francisco based first republic bank. plus the rapidly changing situation in sudan, prompting the u. s to get americans out detai of amen the team posted this video on twitter as they loaded the busses to head for kings territory. tomorrow's game at golden one center a must win to advance the next round of the playoffs. downtown sacramento business owners are hoping to cash in on fans flocking to golden one center tomorrow. reporter erin heft shows us how they are getting ready. one more we now sit on the eve of game seven, a series not only packing seats in the concourse, but really the city to be candid with you. the hotels are pretty full in general. we met with michael ault, the executive director of the downtown sacramento partnership, you know, i mean, the sense of energy downtown, i think has come full circledemand on hoteld parking is now meeting or exceeding supply. we're hearing from the local businesses. their numbers are off the hook. people are coming after the game going too late dinners, the crowds on the s

republic bank to keep it from failing. and this is new details emerge about what happened behind the scenes at silicon valley bank before it collapsed. the fdic is reportedly planning to place the sanernment will step in and take responsibility for it. according to reuters, the u.s. banking regulator no longer believes there is an option for the bank to be saved by the private sector. it first republic does fall into receivership. it would be the 3rd bank to collapse since march earlier this week. first, republic stocks dropped. >> as the bank reported, deposits were down by more than 100 billion in the 1st quarter. first republic's losses are dhanks, at least in part to the collapse of silicon valley bank back in march. on friday, the federal reserve released its first report. what caused the collapse? the fed chief regulator has accused banking managers at svb of being slow to identify growing problems within the bank to new reports indicate the industry needs stricter policing to prevent future failures and says bank management didn't fully understand the risks associated with accepting crypto. >> which made up more than 20% of its deposits. regulators are also highly critical o

. >>> and a warning for san francisco bay's first republic bank, the market value dropped below $1 billion for the first time ever yesterday. financial experts say first republic has loaned and invested far more money than it has in deposits. now, a cnbc report says that u.s. government officials are not willing to step in to bail out the bank. >> let's see how that is impacting wall street right now, take a look at the big board, up-and-down today , but right now it is going into a bit of a freefall -216. >>> it's time to hold out on those weekend plans to yosemite, park officials are closing the park friday night because of the potential risk of the rising river, the closure is expected to last until at least next wednesday. people have reservations for campgrounds in eastern yosemite valley, they will get a refund. >>> and it's so scary because we talked about how much snow these areas have received this year, but you don't quite understand it until you talk about what happens to all of that snow one starts to melt. it is dangerous. >> yosemite is one story, the lake is one other story,

san francisco bank first republic, that's according to a source close to the matter. shares of that bank dropped sharply today as hopes dimmed for a rescue deal that could keep the bank afloat. sources tell cnbc is the most likely outcome is for the fdic to take over the way it did with silicon bank. they are asking other banks for potential bids on first republic. if the regulators seize the bank, that could be an option. investors lost confidence in the bank following the failure of two other lenders in march, including svb. >>> a live look in san jose, a hot day across the bay area. is it going to last throughout the weekend? let's bring in our meteorologist vianey arana. can we make it all the way to monday? >> we're going to call it a split. we've got the 90s. high pressure is keeping us nice and warm. one more day of warm weather before things cool off. also we've got the marine layer developing quite nicely. a live look at sfo. let's get right to the micro climate weather. a heavy marine layer hugging the coastline. a beautiful shot. it is warm in a lot of spot

. >>> san francisco's first republic tank is facing a financial earthquake. first republic stock fell 97% since march 1, hitting three dollars per share after it's revealed depositors withdrew 100 billion in the first quarter. a lifeline from some of the largest banks was not enough to stop the freefall. reports say j.p. morgan and chase are bidding to purchase first republic. a economic professor says the deal could benefit both parties. >> the real problem arises force a small number of banks. these are banks where they are catering to wealthy depositors. deposit insurance only covers the first 250,000, these banks are not covered by the usual deposit insurance. that means when people get nervous they start to pull money out and they could be caught without enough cash in the vault. it is not that it does not have assets, it just does not have cash in the vault. the best way to resolve it is if another bank took it over, we have a bigger vault and we like owning profitable businesses. >>> saving new zealand's flightless bird. the efforts underway to preserv

s. bank appears to be in trouble. shares of the san francisco based lender 1st republic of plunge to a record low. last month's collapse of 2 american banks cause the biggest crisis of confidence in the sector since the 2008 financial crisis. a multinational tobacco company has agreed to pay $635000000.00 to the u. s. state department to settle allegations of illegal trade with north korea. british american tobacco released a statement saying the settlement concerns sales during a decade starting in 2007 migrants making their way north through mexico, towards the u. s. border have sewn their lips in a plea to mexican authorities for help around 3000 people from central and south america or in this group. they want help to reach the border or permission to remain in mexico frame. they know we're asking for help if they can't help us, even if it's supplying a bus to get to our destination. we're asking for permit to stay in mexico, which is the most important thing. it's important for many women and children. they need it because they've gone through a lot to bring the children here. y

greg palkot, fox news, san francisco's first republic bank, is reportedly in talks with federal regulatorsbout to take over the bank revealed that depositors withdrew more than $100 billion during the first quarter of san francisco bank made a partial recovery earlier this year after several large banks stepped in and made $30 billion in uninsured deposits. first republic also announced plans to lay off up to 25% of its workforce. shares of first republic fell over 50% trading at just over $9. a year ago. that price was $170 a share. google's parent company alphabet reported its quarterly earnings this afternoon, which included a slump and ad sales. overall revenue was up 3% year over year for the search giant, but digital ad sales were down. from a year ago, and revenue also fell for youtube shares an alphabet did rise those slightly after hours on wall street today, stocks saw their biggest drop in a month on ongoing worries over the us economy. the dow is down 3 44, the nasdaq dropped 238 points nearly 2% in the s and p was down 65 points or 1.5% traders discouraged by a new report show

the fbi see is getting ready to play san francisco-based first republic bank under receivership immediately. that's according to reuters. the wall street journal is reporting the bank cannot only be seized but sold over the weekend. first republic bank shares plummeted by 43% today with many investors expecting an fbi see takeover. the bank announced earlier this week that its deposit had slowed by more than $100 billion in the first quarter. ama: a vigil is held for the home depot security guard shot and killed last week at the pleasanton store. dan: will oakland teachers walk out? an update on the contract negotiations and of classes could be disrupted on monday. ama: grains will be coming true tomorrow. a look at world wish day and its importance. dan: first, a look at jimmy kimmel live right after abc 7 news at 11:00. >> watch tonight or i will tell your mother what you've been doing. you have a good weed arc. do you tell when people have vaped? >> no. would you like to try? >> you are high. [laughter] yeah, i got one: how about the best network imaginable? let's invent that! that's wha

might be connected to the gunfire. >>> fears are growing in the financial sector are san francisco-based first republicseemingly on the verge of collapse. there are reports of a federal rescue effort. according to reuters, the fdic treasury department and federal reserve are all involved in talks. so far, the fed is not commenting. shares in the company plummeted this week amidst new pressure tied to loans, despite a $30 billion lifeline last month from 11 major banks in the wake of the silicon valley bank collapse. >> let's take a live look outside, or inside chase center. this is as close as we're going to get. >> ten hours from now the warriors will hit the hardwood to try to move on in the postseason. the dubs now three games to two up over sacramento in the first round of their best of seven series. pretty much every game has been a thriller. we have no nails left. game five was the one they won in sacramento. tonight's game starts at 5:00, so get that barbecue on early. nbc sports bay area will have pregame coverage starting at 4:00 in the afternoon, then, along with the game, hopefully a series

a surprise. >> but given the situation first republic, it is surely a >> approach. assistant professor of finance at san jose state university. julian vogel says he was confident cuts were coming to first republic bank, but he thought the cut to be closer to 15% of the workforce. he says he was positively surprised to see the cuts being made throughout the company. also, the executives are taking a a pay >> the shareholders they suspended. overall. i think they're doing the best they can in the situation. the situation can be linked to the collapse of silicon valley bank last month. first republic deposits were down 173 billion by march 9th. >> compared to the end of 2022, during the collapse, depositors at first republic pulled more than 100 billion dollars out of their accounts. we've federal stepped in to broker a deal and we have seen very quick and swift with a >> financial aid to help. first republic. and i think and if for potential banks in the future, smaller banks in the in the near future, especially we can expect to see quick help. since then, deposits have been more steady. but first republ

talks continue as well over the rescue deal for san francisco based first republic bank.euters is reporting this morning that the f d i c treasury department and the federal reserve are trying to set up meetings with other financial companies to put together a rescue package for first republic. however cnbc is reporting this morning that first republic is likely headed for receivership. now, that means it's a strategy to try to avoid bankruptcy while creditors get the money they're owed. first republic stock dropped 30% on that news. trading is halted right now ringing the opening bell this morning, the green trees organization they are celebrating arbor day and also the organization's 20 years of addressing climate change through reforestation and carbon removal credits. as we take a live look at the big board and the numbers, the dow jones headed for its best month since january. we've definitely seen some volatility, but in general. april has been a pretty good month. dow jones up almost a half of a percent right now to 9 33,093 close to 34,000, the s and p 500 up almo

liz: federal regulators are racing to seize and then sell san francisco's first republic bank as soon as this weekend. the fbi see options, one to control the bank and the second to sell it off, then to take full ownership of it entirely pair last month, fdic took control of first republic bank and silicon valley bank, both of which were failing. customers had withdrawn $100 billion in deposits. the santa fe unified school district is facing a teacher shortage. it needs to hire 200 teachers for the next school year, cording to the latest numbers from the california department of education. the district faces several challenges, including nearby district that can take simply not being tayeater therre 2 in the dtrict. rathon negotiations between the oakland unified school to serve in the teacher's unit still has not produced any results, and negotiations are set to resume today. yesterday, teachers and supporters spent today making signs in anticipation of a possible strike. those who have been at the bargaining table representing teachers tell abc 7 newsen very. anser: signs like these

liz: federal regulators are racing to seize and then sell san francisco's first republic bank as soon as this weekend. abc news reports the fdic is exploring two options, one to control the bank and the second to sell it off, then to take -- to take full ownership of it second,. last month, fdic took control of first republic bank and silicon valley bank, both of which were failing. customers had withdrawn $100 billion in deposits. in the south unified school district is facing a teacher shortage. it needs to hire 200 teachers for the next school year, according to the latest numbers from the california department of education. the district faces several challenges, including nearby districts that can pay significantly more anteaters simply not being able to afford to live in the bay area. there are 26,000 students in the school district. marathon negotiations between the oakland unified school to -- and the teacher's union still has not produced any results, and negotiations are set to resume today. yesterday, teachers and supporters spent today making signs in anticipation of a poss

the fbi see is getting ready to play san francisco-based first republic bank under receivership immediately. that's according to reuters. the wall street journal is reporting the bank cannot only be seized but sold over the weekend. first republic bank shares plummeted by 43% today with many investors expecting an fbi see takeover. the bank announced earlier this week that its deposit had slowed by more than $100 billion in the first quarter. ama: a vigil is held for the home depot security guard shot and killed last week at will ok out? an update on the contract negotiations and of classes could be disrupted on monday. ama: grains will be coming true tomorrow. a look at world wish day and its importance. dan: first, a look at jimmy kimmel live right after abc 7 news at 11:00. >> watch tonight or i will tell your mother what you've been doing. you have a good weed arc. do you tell when people have vaped? >> no. would you like to try? >> you are high. [laughter] the long-lasting scent of gain flings made it smell like dave was in his happy place... ...the massage chair at the mall. but...he

e by the north south name, when there was a yemeni arab republic of san it was kind of convenient for everyone. for both the united states and israel, for many arab countries, yes, russia has consolidated its influence in syria on basharasad, but it’s like the regime will be a marginalized outcast of it, no one will accept it now basharas is preparing for a visit to saudi arabia the syrian question, but benevolent and for russia and what is important for iran, that is , several areas of cooperation between russia and turkey, russia and iran , russia and saudi arabia and china with these and the cultural characteristics of these states have formed here at once. and this is a kind of balance of interests. the question arose that interests do not coincide everywhere. so it's normal in this task of diplomacy to find solutions, when your interests do not always coincide with your partner, but they have fundamental ones. but the courses in relation to israel, after all, are of a good breed. yes, the idea is to syncrase only individual iranian politicians in relation to the jewish state is o

federal regulators reportedly preparing to take over san francisco's first republic bank meanwhile more dismal polling numbers it signal for the president just days after announcing a bid for reelection. lucas tomlinson live at the white house and lucas so it seems americans dongt want president biden or president trump to run for reelection. what more can you tell us? >> may present a problem in november of 2024 arthel now president biden is here at the white house ahead of the cor spoans dinner back to the banking crisis you mention and republicans are playing it up and in thes appear to be down playing it. >> fdic -- those reserves are about one and a quarter percent of the deposits so there's no way to keep doing this. we're seeing that come to fruition as whole thing shakes out it shows the fragility of our economy. >> banking system is not anywhere anywhere collapse firee way it was back if 2008 and under stress so silicon valley they are less than 1% of the u.s. gdp they could be completely annihilated in our economy would not crash. >> a new fox news poll shows eight in ten amer

jobina: this morning there are concerns about another bank, first republic bank, based here in san francisco. shares of first republic dropped nearly 50% earlier this week after a rumor emerged that the bank was looking for a deal to sell its assets. kumasi: thank you. abc 7 is looking into the state of real estate in downtown san francisco and the financial blow it could have on the city. 30% of all downtown office space is vacant. that includes 350 california street, a 22 story tower that once was some of the most valuable commercial real estate in the country. according to the wall street journal the building was around $300 million in 2019, and now it is up for sale. the bids are expected to come in at just around $60 million. that sale could set the rate for other commercial real estate in that area. >> there are two -- two geese that have laid the golden gates for the san francisco area. one was tourism, which is rebounding, and the other is the downtown office economy. that one is in trouble and it's going to come with profound financial impacts to government's tax base. kumasi: this

first republic headquartered in san francisco has seen its stock price plummet after admitting it lost nearly half its deposits over the last three months as investors continue to pull out. shares of stock are down 95% just in the last month and a half. it's important to note here that anyone with funds -- funds are protected up to $250,000 per account because of the fdic, the government. but if you have more than that in a single account, this is an uncertain time. >> the main difference is that for silicon valley, the government steps in and says, no matter, you're safe. but apparently this has not happened for first republic. so first republic is just as any company in difficulty. if you're invested in them, and as a depositor you are, you're hoping for the best. >> people are nervous. let's bring in our business and tech reporter scott budman. you've been following first republic, silicon valley bank. what happens now? if i have money in first republic, the government has yet to step in. am i nervous? >> you're nervous because since the government has yet to step in and investors h

another us bank appears to be in trouble. shares of the san francisco baseline, the 1st republic have plunged to a wreck. old low shap price dropped nearly 50 percent on use deposited, withdrew at least a $100000000000.00 in the 1st quarter of the year. last month's collapse of silicon valley bank and signature bank cause the biggest crisis of confidence in the banking sector. since the 2000 and the financial crisis. a multi national tobacco company is agreed to pay $635000000.00 to the us state department, the federal allegations of illegal trade with north korea. british american tobacco released a statement saying the settlement confirmed sales during a decade from 2007. such sales are in violation of economic sanctions against north korea. at least 57 people of di officer, 2 boats carrying migrants sank in the mediterranean. they were found off the libyan coast aid workers, se dates, but more bodies found in the coming days. the international organization for migrations says more than $400.00 migrants refugees of ground this year, trying to cross registering in north africa to eur

thank you. >> san francisco base first republic bank laying off a number of their employees. the bank has faced significant drops in revenue over the past year. kron four's amanda hari spoke to a finance expert breaking down. what's going on? >> first republic bank announced they will be minimizing their expenses and the biggest way they'll be doing that is by reducing their workforce by nearly a quarter, which is about 7,000 employees of the magnitude of the cuts. a surprise. >> but given the situation of office, republican is surely a >> approach. assistant professor of finance at san jose state university. julian vogel says he was confident cuts were coming to first republic bank, but he thought the cut to be closer to 15% of the workforce. he says he was positively surprised to see the cuts being made throughout the company. also, the executives are taking a a pay >e the shareholders they suspended. didn't overall. i think they're doing the best they can in the situation. the situation can be linked to the collapse of silicon valley bank last month. first republic deposit

another us bank appears to be in trouble. shares of the san francisco based land 1st republic of plunged to a rec old lo, it shall price dropped nearly 50 percent on news. the pulses withdrew at least a $100000000000.00 in the 1st quarter of the year. last month collapse of silicon valley bank and signature bank calls the biggest crisis of confidence in the banking fact. since the 2008 banking crisis. a multinational tobacco company has agreed to pay $635000000.00 to the us state department to settle allegations of illegal trade with north korea. british american tobacco released a statement saying the settlement concerns fails during a decade from 2007 onwards. such styles are in violation of economic sanctions against north korea. still ahead on al jazeera, dozens of countries support the lifting of international sanctions on venezuela meeting in columbia. and will tell you about the russian dances looking to break into the paris then pigs next year. ah ah, a there well parts of western australia recorded not only their coldest, but also what a staple day him more than 30 years now tha

the shares of the san francisco based lender 1st republic have plunged to a record low. the banks share price dropped almost at 50 percent on use that depositors withdrew at least $100000000000.00 in the 1st quarter of the year. last month's collapse of silicon valley bank and signature bank cause the biggest crisis of confidence in the banking sector since the 2008 financial crisis. philippine president ferdinand marcus junior is over seeing is conscious, largest ever joint military drills with united states. more than $17000.00 troops are taking part in the land. aaron c exercises across several provinces. they include areas near waters contested by choice. the philippines and the u. s. have a decades long mutual defense treaty representatives of 20 countries have met in columbia and agreed to support the easing a sanctions against venezuela. international efforts is aimed at pressuring, but as well as opposition and person nicholas madeira, to turn to negotiations and hold elections. i found around peer to reports from the top. i was supposed to unlock venezuela's lon

s. bank appears to be in trouble. shares of the san francisco baseline, the 1st republic of plunge to a rec hold low. it's share price dropped nearly 50 percent on news. depositors withdrew at least a $100000000000.00 in the 1st quarter of the year. last month's collapse of silicon valley bank anne's signature bank calls, the biggest crisis of confidence in the banking sector since the 2008 financial crisis still had on al jazeera marching for their rights. find out why indigenous groups from across brazil are rallying in the capitol. we're seeing heightened levels of criminality. when related to the, to the people who come on by calling controversy, the u. k. home secretary. so allah, bradman comes on the fire. suggesting migrants on criminals. ah, those is in paris. why are electing a new president on april, the 30th foreign policy matters in the fight against corruption, have dominated campaign? the governing party has been in power for more than 60 years. could this be the moment your position had been waiting for? follow the paraguay election. this month on al jazeera. with cloud

another us bank appears to be in trouble. shares of the san francisco based land 1st republic have plunged to a wreck. old lo, it shall price dropped nearly 50 percent on news posters, withdrew at least a $100000000000.00 in the 1st quarter of the year. last month's collapse of silicon valley bank and signature bank calls the biggest crisis of confidence in the bank. in fact, since the 2008 financial crisis, singapore has executed a man for a drug offense, despise international please. for clemency tango, roger sophia, was hanged on wednesday. after being a victim of trafficking more than a kilogram of marijuana rights groups are questioning whether he received the fair trial the when human rights officers condemned the execution, saying the death penalty for drug offenses is incompatible with international law. at least 57 people have died after 2 boats carrying migrants sank in the mediterranean. they were found off the libyan coast. 8 workers say they expect more bodies to be found in the coming days. the international organization for migration says more than $400.00 migrants and refug

reuters is reporting that the f d i c may take over san francisco based first republic bank. the same week the bank disclosed that lost $100 billion in deposits. last quarter comes as a new report from the federal reserve on the collapse of silicon valley bank lays out the key factors behind that downfall . ktvu starve acre has a closer look on the health of small and medium sized banks. 2023 so far there have been three u. s bank failures, silicon valley bank signature bank and subra gate bank. reuters is now reporting that 1/4 1st republic bank whose stock is down 86% will be taken over by federal regulators friday night. the usual practice for regulators is to wait until the bank closes on a friday night. the immediately move in, take it over and have it ready for the opening of business on monday morning with a minimal disruption. that will be a terrible disappointment for most of its customers. i hate to see it go. uh and i'm really, you know, concerned about a lot of the staff in there what's going to happen, and i mean, as you can see, there's a line of people in there

republic. one option is for the fdic to take over the bank and then quickly sell it to another bigger bank. at the end of last year, sanncisco-based first republic was the 14th biggest commercial bank in the country. how did we get here? the company's stock tumbled 75% last week after it revealed that nervous customers withdrew more than $100 billion in deposits during last month's banking crisis. in march, 11 major banks, including jpmorgan, tried to rescue first republic with $30 billion in cash. that was not enough to reassure investors that the company's finances are sound. so if first republic is taken over, it would be the third u.s. bank failure since march 10th when silicon valley bank's collapse sparked fears of a broader financial crisis, but top officials insist that the overall banking system is safe and resilient. >> elizabeth, thank you so much. we're staying in washington now where it was a big night last night. the nation's media gathering for the annual white house correspondents' dinner. ^we have the highlights. good morning. >> good morning, janai. it was a fun-filled night with celebrities and thous

san francisco based first republic bank announced today it will be laying off a number of their employeesthe bank has faced significant drops in revenue over that just the past year. but first, amanda hari spoke to a finance expert to help explain what's happening. >> first republic bank announced they will be minimizing their expenses and the biggest way they'll be doing that is by reducing their workforce by nearly a quarter, which is about 7,000 employees of the magnitude of the cuts. a surprise. >> but given the situation of office, republican is surely a >> approach. assistant professor of finance at san jose state university. julian vogel says he was confident cuts were coming to first republic bank, but he thought the cuts would be closer to 15% of the workforce. he says he was positively surprised to see the cuts being made throughout the company. also, the executives are taking a a pay the shareholders. they suspended didn't overall. i think they're doing the best they can do in this situation. the situation can be linked to the collapse of silicon valley bank last month. >> firs

. >> san francisco bay's first republic bank is about to get smaller. the bank announced major staff cuts today. first republic, nearly defaulted last month after a run on accounts following the collapse of the silicon valley bank. well, force grant lotus joins us now to explain what's happened and what these issues at the financial institutions may for the economy going forward. grant ken pam tonight, we're learning 7200 employees about a quarter of first republic staff will be laid off by the end of the year. and in a way, as you alluded to, you can trace this back to the collapse of silicon valley bank earlier this year. first republic had more than 173 billion dollars in deposits before silicon valley bank failed in march during the collapse of that. and then signature bank depositors at first republic pulled more than 100 billion dollars out of their accounts. fearing for some public would be the 3rd financial institution to fail a large group of banks stepped in to say first, republic depositing and uninsured 30 million dollars since then, deposit

part of the reason for first republic's struggles, the san francisco based bank reported a significantrop in deposits. there are concerns after receiving two multibillion-dollar bailouts the bank will not survive. rob hayes with our sister station in los angeles has a look at what is next. the ropes. shares worth more than $150 a year ago today closed slightly higher than five dollars. or than 50% of its value wiped out this week after the bank said customers withdrew 40% of its deposits so far this year. >> they have low profit margins. they made a lot of loans out at low interest rates. >> president of la-based financial he says investors are keeping a close eye on first republic after the collapse of silicon valley bank and signature bank last month. first republic officials say it has been able to survive because a group of large stepped in and deposited $30 billion. first republic is known for its outstanding customer service now many of those customers are fleeing. the fdic, federal deposit insurance corporation guarantees 250 thousand dollars per depositor per bank meaning joint

another us bank appears to be in trouble. shares of the san francisco based lender 1st republic have plunged to record low share price dropped nearly 50 percent on news. the depositors withdrew at least a $100000000000.00 in the 1st quarter. last month's collapse of silicon valley bank and signature bank cause the biggest crisis, a crisis of confidence in the banking sector. since 2008. the u. s. federal reserve has previously said its prepared to provide support to struggling banks. as patty co have reports from washington dc, the argument is give us money now or risk a broader contagion to the banking system and we have seen money pouring out of regional bank into the bigger bank, the 100 $1000000000.00 outflow from the bank. now they made that up with loans from the federal reserve, but obviously deposits are much better thing for the bank to have them pretty heavy load. so there are reports that yes, once again, they're going to go back to the big bank that had already given them $30000000000.00 to try and sure of its balance sheet. so they're going to go back to the big banks an

area bank has announced it's going to be laying off large numbers of its employees san francisco bay's first republic bank says it needs to let nearly a quarter of its staff go. >> which comes to about 7,000 employees. bank officials say the collapse of silicon valley bank last month triggered their depositors to withdraw more than 100 billion dollars. >> from their it's a problem. those deposits have since stabilized. but first, republic says it still needs to cut costs. we spoke with julian vogel, an assistant professor of finance at san jose state university to give us an inside look at what's happening. >> so the executives are taking a a pay >> the shareholders they suspended. didn't overall. i think they're doing the best they can in the situation. focus currently is on these banks. nobody wants to was a repeat of 2008 of potential ripple and chain reactions. >> you know, vogel says that if you have less than $250,000 in the bank, you have nothing to worry about. the fdic insures that full amount. >> under the uc berkeley students are taking over the school's anthropology library. the students

first republic bank, headquartered in san francisco has seen its stock price plummet, down by 95% in the last month and a half. the bank admitted it has lost nearly half its deposit over the last three months as investors continue to pull out. last month silicon valley bank based in santa clara collapsed. it was taken over by the federal government and sold to first citizens bank. >> the main difference is that for silicon valley, the government steps in front of the mics and said no matter, you're safe. but apparently this has not happened for first republic, and so first republic is just as any company in difficulties, if you're invested in them and as a depositor you are, you're just hoping for the best. >> if you read the tea leaves here, first republic could collapse as soon as next week even. it's important to note if you bank there, your funds are protected up to $250,000 per account by the fdic. >>> well, for the second time this year, yosemite is closing. first it was because of all the snow we got, and now flooding. the snow in the sierra is melting so fast, it's expected t

. >>> san francisco-based first republic bank is facing a financial earthquake.he federal regulators are hoping to resolve it before markets open monday. the bank's stock has falling 97% since march 1. it fell to as low as $3 a share after revealing that depositors withdrew $100 billion in the first quarter. some the nation's banks tried to throw first republic a $30 billion lifeline. jps morningen chase and pnc financial are in the pruocess o bidding to buy first republic. justin would first says a deal could benefit both parties. >> a real problem arises for a very small number of banks. silicon valley bank was among them. of course, first republic was as well. these are banks that are mostly catering tour very wealthy ghosters. deposit insurance only covers the first $250,000 of your deposit. so these are banks not covered by the usual deposit insurance. that means as people get nervous they start to pull money out and they cow be caught without enough cash in the vault. it's not that it doesn't have assets, it's that it doesn't have much cash in the vault. th

we are focusing on first republic bank. san francisco california based bank.er the collapse of silicon valley bank, the chart says it all. earnings, deposit of flight is a huge concern. shares down 90% year to date. strategic options is the word they are using. >> the year to date chart is painful. all of this, the fact they missed analyst expectations for consumer deposits, they plunged 41%, worse than expected. even after the rescue attempts of the big banks in the u.s., billions of their own cash. the fact we are hearing that will have to cut people, it doesn't seem to put an end to its own idiosyncratic issues. ed: particularly, the injection of capital that was supposed to be an injection of confidence. venture capitalists, startups were banking with them. on twitter, so many people talking about how we got here. how it got even worse. caroline: the fact they are focused on big mortgages to be wealthy people, and moved else well. -- elsewhere. moving from the world of wall street to the world of key tech, apple. we are talking legal. won an appeals court

san francisco bay's first republic bank says it needs to let nearly a quarter of its staff go which comes to about 7,000 employees. bank officials say the collapse of silicon valley bank last month triggered their depositors to withdraw more than 100 billion dollars from their since then, those to positive stabilized. but first, republic says it still needs to cut costs. >> we spoke with julian vogel, an assistant professor of finance at san jose state university about what's going on. >> so the executives are taking a a pay >> the shareholders they suspended. didn't overall. i think they're doing the best they can in the situation. focus currently is on these banks. nobody wants to repeat of 2008 of potential ripple and chain reactions. >> and now we don't want that. vogel says anyone with less than $250,000 in any bank has nothing to worry about because that is insured by the fdic. >> some sad breaking news to report this morning. legendary singer, actor and activist harry belafonte has died. he passed away in his manhattan home. he began his career in the 1950's and quickly became one

. ♪ >>> san francisco-based first republic bank is facing a financial earthquake.lve it this weekend. first republic's stock has fallen 97% since march 1st. on friday, $3 a share after it revealed depositors withdrew $100 billion during the first quarter. that lifeline from the nation's largest banks winter enough to stop the free fall. reports say jpmorgan chase and pnc financial are in the works to buy first republic. saying a deal could benefit both parties. justin wilford. >> the deal arrives for a small number of banks, silicon valley bank was among them and of course, first republic as well. these are banks catering to very wealthy depositors. deposit insurance covers $250,000 of your deposit. these are banks that aren't covered by our usual bank insurance. that means if people get nervous, they can pull money out, and that means they can get caught without enough money in the vault. it's not that this is not a profitable bank, not that it doesn't have assets, it's that it doesn't have enough cash in the vault. one of the best ways to resolve that the worst w

. >>> san francisco bay's first republic bank is on the verge of collapse according to multiple reports. the fdic gave potential buyers until tomorrow to submit bids. there are several interested buyers. federal regulators want to reach a deal before the markets open on monday, keeping the fdic from having to potentially seize first republic. first republic bank stock plunged yesterday, sinking to $3.51 a share. that's a 95% drop from earlier this year. the troubles first began with the failure of silicon valley bank, and then continued with customers taking their money out of mid-sized and smaller banks. that panic forced banks to quickly liquidate assets. the concern now is that first republic could become a bell weather for hundreds of similar banks. >> these banks impacted also had an issue with management. they didn't diversify enough. they invested a large amount of assets in risk-free treasury securities, and that is never ideal. >>> on friday, the federal reserve acknowledged that just about nobody was doing a good job with the spectacular cent bank failures, including themselve

regulators are preparing to take over san francisco-based first republic bank.scue deal that could keep the bank afloat. sources said it's likely the fdic would take over. the fdic is already asking other banks for potential bids on first republic if regulators do, indeed, seize the bank. the bank's future became precarious after investors lost confidence in it following the failure of two other regional lenders including silicon valley bank in march. >>> the bay area has a new 49er. during the second day of the nfl draft last night t 49ers finally got their first pick of the draft with the 87th overall pick. they selected. >>> year brown as safety from penn state. >>> and in just a few hours the san francisco giants will be making history as they take on the san diego padres in the mexico city series. this weekend we'll see the first regular season games to be played in mexico city. the first pitch is at 3:05. the giants left for mexico city yesterday and had a packed day full of fun. the teams had the day off. they still went to the field to practice. they wil

right now a source telling cnn at this hour that san francisco-based first republic bank is being auctioned by the fdic. final bids were due just an hour ago. half a dozen banks are reportedly interested, and a deal is expected to be announced tonight. this follows a staggering 97% drop in first republic's stock price since march 1st and comes despite a $30 billion lifeline that apparently was not enough to save it. joining us now to talk about this is cnn's matt egan. matt, you know, these are some tense moments. what do you think? do you think a resolution will be coming by tomorrow morning because obviously there are going to be some jittery investors on wall street. they don't want to see this kind of a deal fall through. they want to see this happen tonight. >> jim, we do expect something to get announced tonight. you know, in the past, u.s. officials have tried to come up with solutions during crises before asian markets open, and that's happening next hour, certainly before u.s. markets open tomorrow morning. the best case scenario here would be a white knight emerges, a big bank com