It’s been one year since regional banks melted down
Yesterday marked the first anniversary of Silicon Valley Bank’s collapse,...
Yesterday marked the first anniversary of Silicon Valley Bank’s collapse, which sparked regional banking jitters that brought down two other lenders last spring. One year later, regulation to shore up confidence in the sector has been slow to materialize, and the big US banks have grown even bigger after scooping up the remains of their collapsed challengers. Silicon Valley Bank, for its part, argues it’s on stronger footing after its sale: The company’s president told Axios that 81% of its clients are still banking with it. However, concerns about regional banks’ health remain after teetering New York Community Bancorp received a $1+ billion lifeline last week.
SpaceX hopes the third time’s the charm for Starship: A...
SpaceX hopes the third time’s the charm for Starship: A third launch of the most powerful rocket ever built is tentatively scheduled for Thursday, and SpaceX hopes its megarocket accomplishes a lot more than prior versions did during the first two test launches. In the first launch last April, the rocket was intentionally detonated four minutes into its flight. The second mission in November was more successful, although the rocket (again) was intentionally destroyed eight minutes into its flight following a mishap. NASA is relying on Starship to get humans back to the moon, so it’ll be eagerly looking for signs of progress.
Key lawmakers said they were undecided on whether they’d support a bill that would ban or force a sale of TikTok. A full House vote could come on Wednesday.
The DOJ has opened a criminal investigation into the January door-panel blowout on an Alaskan Airlines Boeing 737 Max 9.
President Biden’s reelection campaign said it raised $10 million in the 24 hours following his State of the Union address—nearly a quarter of his total January fundraising haul.
Twelve fans who attended a Dolphins-Chiefs game with subzero temperatures in January had to undergo amputations, according to Research Medical Center in Kansas City.
Kate Middleton, the Princess of Wales, appeared in an official photo for the first time since her abdominal surgery in January. The photo appeared intended to tamp down speculation over her whereabouts, but it only escalated the rumor mill: Photo agencies including AP and Reuters have pulled the image over concerns it may have been “manipulated.”
Indonesia is investigating a flight that veered off course after two pilots fell asleep at the same time.
US drillers cut oil and gas rigs for first time in three weeks
(Reuters) U.S. energy firms this week cut the number...
(Reuters) U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, Baker Hughes said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, fell by seven to 622 in the week to March 8, the lowest since Feb. 16. putting the total rig count down 124 rigs, or 16.6%, below this time last year.
Baker Hughes said U.S. oil rigsfell two to 504 this week, their lowest since Feb. 23, while gas rigs fell four to 115, their biggest drop since November.
IEA: Global oil market appears set for a stable year
Increased production from the Americas, combined with slower demand growth, will likely keep the global...
Increased production from the Americas, combined with slower demand growth, will likely keep the global oil market "relatively calm" and adequately supplied this year, according to International Energy Agency Head of Oil Industry and Markets Division Toril Bosoni. Demand growth is seen decelerating from around 2.3 million barrels per day in 2023 to a range of 1.2-1.3 million bpd this year, while non-OPEC+ nations are expected to drive supply to a record of approximately 103.8 million bpd, Bosoni said.
The US added 275,000 jobs in February, according to the government’s...
The US added 275,000 jobs in February, according to the government’s latest jobs report, which dropped yesterday. That’s more than was expected, signaling a still-hot labor market. But elsewhere, there were signs of cooling: The unemployment rate rose to 3.9%, and wage growth slowed down. This makes the report something of a choose-your-own-adventure tale for those hoping to use it to guess what Jerome Powell might be thinking about cutting interest rates.
