Before Collapse of Silicon Valley Bank, the Fed Spotted Big Problems
Silicon Valley Bank’s risky practices were on the Federal Reserve’s...
Silicon Valley Bank’s risky practices were on the Federal Reserve’s radar for more than a year — an awareness that proved insufficient to stop the bank’s demise. The Fed repeatedly warned the bank that it had problems,according to a person familiar with the matter.
In 2021, a Fed review of the growing bank found serious weaknesses in how it was handling key risks. Supervisors at the Federal Reserve Bank of San Francisco, which oversaw Silicon Valley Bank, issued six citations. Those warnings, known as “matters requiring attention” and “matters requiring immediate attention,” flagged that the firm was doing a bad job of ensuring that it would have enough easy-to-tap cash on hand in the event of trouble.
U.S. energy firms this week added the most natural gas rigs in a week in over four years, leading to a rise in the combined oil and gas rig count for the first time in five weeks.
Meanwhile, Oklahoma’s count grew by one to reach 62, significantly more than the 49 reported one year ago.
The TOTAL oil and gas rig countrose eight to 754 in the week of March 17. That puts the total rig count up 91 rigs, or 13.7%, over this time last year.
Oil rigsfell one to 589 this week, while gas rigsrose nine to 162.
A viral TikTok that exposed a vulnerability in certain Kia and Hyundai models — and sparked the theft...
A viral TikTok that exposed a vulnerability in certain Kia and Hyundai models — and sparked the theft of hundreds of thousands of cars. The trend has become a financial burden for consumers and a legal nightmare for Kia and Hyundai. More here.
Benchmark U.S. crudeoil for April delivery fell $1.61 to $66.74 a barrel Friday. Brent crude for May delivery fell $1.73 to $72.97 a barrel.
Wholesale gasoline for April delivery was unchanged at $2.50 a gallon. April heating oilrose 4 cents to $2.68 a gallon. April natural gasfell 17 cents to $2.34 per 1,000 cubic feet.
Silicon Valley billionaires have long been experimenting with ways to extend the human life span. But...
Silicon Valley billionaires have long been experimenting with ways to extend the human life span. But the quest for longevity has gone mainstream. From cold plunges to hormone therapy, here are some of the most popular trends people are trying to turn back the aging clock.
