The bank, a linchpin of tech industry financing, is trying to persuade clients not to pull their money over concerns of a liquidity crisis.

A series of regulatory changes approved this week reflect the increasingly centralized control of Xi Jinping, newly confirmed for a third term as China?s president.

New energy sources to replace oil and natural gas have been easier to find than kicking the dependency on Rosatom, the state-owned nuclear superstore.

A reader has been offered a credit she is finding hard to use. Who should bear the financial burden in a case of force majeure? Our columnist weighs the competing claims.

Like the president?s previous budgets, his latest proposal made no mention of any tax or spending increases linked to the program, which he had promised to shore up during his 2020 campaign.

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At Bluebird Backcountry, you can feel the thrill of making fresh tracks without the constant fear of avalanches. And you can bring your dog.

GDP is likely to edge sideways in 2023 (if that) but the true impact of rising interest rates has yet to be feltUK economy staged modest recovery in JanuaryBusiness live ? UK GDP grows by 0.3%It is three years this month since the UK went into lockdown and the path of the economy over that period is now strikingly clear. There was an instant collapse in activity that reduced output by more than a quarter followed by a two-stage bounceback interrupted by a second lockdown.By the end of 2021, the economy ? as measured by gross domestic product (GDP) ? was pretty much back to where it was before the coronavirus pandemic struck. Over the past 12 months it has remained at that level rather than returning to its pre-lockdown growth path. Continue reading...

From May, loyalty card holders will collect 3p of points for every ?1 spent at health and beauty chain, down from 4pBoots is cutting the points per pound shoppers can earn on their loyalty card by a quarter, while offering discounts on its own-brand products.The health and beauty chain told customers via email that from May, holders of the Boots Advantage card would collect 3p worth of points for every ?1 spent, instead of 4p. They will keep the number of points they have already collected, which will still be worth the same amount. Continue reading...

President Biden and the European Commission president met to discuss how to effectively counter Russia and a potential trade deal for electric vehicles.

January GDP growth of 0.3% bigger than expected, driven by education, health and recreation sectorsAnalysis: Economic growth of sorts, but UK plc is going nowhereBusiness live updates: UK economy returns to growthThe UK economy rebounded more than expected in January, providing a modest boost to the chancellor as he puts the finishing touches to next week?s budget.Growth of 0.3% month on month was driven by a broad-based return of activity across the education, health and recreation sectors, including the return of football?s Premier League after the winter World Cup, the Office for National Statistics (ONS) said. Continue reading...

The economy added 311,000 jobs in February despite higher interest rates. But hourly earnings rose more slowly as the pool of available workers grew.

Retirees whose former employers offer health coverage are being shifted to privately run Medicare Advantage, often against their wishes. The change saves millions for employers.

Political editor Katharine Murphy speaks to economics writers Shane Wright and Greg Jericho about inflation and whether the reserve bank is doing its best to curb it, any prospects of a recession and the upcoming budgetRead more: Continue reading...

Shares in the bank, a go-to funder of tech start-ups, have fallen more than 60 percent in the past day as investors fear for its finances, and those of similarly sized lenders.

Chancellor likely to announce increase to ?40,000 pension annual limit and lifetime allowanceJeremy Hunt is considering a boost for the pensions of middle-class professionals and more help with childcare for parents in next week?s budget, as he tries to get more people into the workforce.The chancellor is likely to announce significant increases to pensions allowances in a bid to tackle the ?pension trap?, which has led many workers to take early retirement. Continue reading...

King Charles III named Edward, his youngest brother, the Duke of Edinburgh on his 59th birthday. The title was previously held by their father, Prince Philip.

UK economy has proved ?more resilient than many expected? says chancellor Jeremy Hunt, while problems at Silicon Valley Bank knock FTSE 100 down 2%Full story: UK economy staged modest recovery in January

Shutdown and takeover of bank by regulators can be traced to the Fed raising interest rates and risk-averse investorsUS regulators seize assets of Silicon Valley Bank amid institution?s failureThe shutdown and takeover of Silicon Valley Bank by regulators on Friday can be traced to the US Federal Reserve raising interest rates and souring the risk appetite of investors.Here is the sequence of events that led to the failure: Continue reading...

Even as fewer people use paper checks, there have been more reports of criminals stealing them from mailboxes and changing the dollar amount and name of the recipient, officials say.

US regulators seize SVB?s assets after a run on the bank, as global institutions monitor situation closelyWhy did Silicon Valley Bank fail?US regulators rushed to seize the assets of top tech lender Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of such an institution since the height of the financial crisis more than a decade ago.Silicon Valley Bank (SVB), the nation?s 16th largest bank, failed after depositors ? mostly technology workers and venture capital-backed companies ? hurried to withdraw their money this week as anxiety over the bank?s situation spread. Continue reading...

Vacancies are high, but pay is not rising. Nor will the Bank of England allow it to. That means something else has to giveSome of Britain?s biggest industries need to shrink and they need to start thinking about how to do it now.Hospitality is one. Manufacturing could be another. These sectors are among many to say they cannot find the workers they need at the price they have traditionally paid. Continue reading...

The Federal Reserve is anxiously parsing incoming data as it decides between a small or a large rate move this month.

Industry leaders expected to call for state intervention to avoid failure of hundreds of UK firmsThe UK government is coordinating an emergency meeting with tech firms, who are expected to call for state intervention to avoid the failure of hundreds of firms following the collapse of Silicon Valley Bank UK (SVB UK).The chancellor, Jeremy Hunt, also spoke with the Bank of England governor, Andrew Bailey, on Saturday morning, just hours after the collapse of SVB UK?s parent company, which marked the largest failure by a bank since the 2008 financial crisis. Continue reading...

The company, which will begin operating in May, plans to have around 550 journalists covering entertainment, politics and sports within a year.

The chancellor has room for giveaways in this week?s budget, but business and consumer groups fear he will hold them back for the electionJeremy Hunt is under pressure to be generous when he delivers his first budget speech since he became chancellor last October.The public finances have improved dramatically from the chaotic days that followed Liz Truss?s mini-budget in September, which rocked international money markets and sent interest rates on government debt soaring. The cost of financing Britain?s debt has fallen in recent months and the cost of gas on wholesale markets has tumbled. Continue reading...

Tories can take heart that the over 65s won?t punish poor GDP, research finds. Just don?t hit them in the pocketBritain is a stagnation nation, with next to no productivity growth and zero real wage growth post-financial crisis. And that?s before inflation hit 40-year highs. Can British politics chart a course out of this low-growth mess?The demographics won?t help. That is the takeaway from an interesting recent paper by Oxford?s Tim Vlandas. Britain is getting older (we?ll have around 2.5 million more people aged over 65 in 2030 v 2020). Some of the growth effects are obvious (fewer workers means lower GDP), but the indirect impacts on growth via politics are Vlandas?s focus. He raises two concerns. Continue reading...

The Federal Deposit Insurance Corporation took control of the bank?s assets on Friday. The failure raised concerns that other banks could face problems, too.

Wednesday?s announcement will not change big picture for UK economyThe only way was up for Jeremy Hunt when he took over at the Treasury last October. Appointed by Liz Truss in an attempt to save her job, he was the fourth chancellor of 2022 and the Conservatives were at rock bottom.The economic legacy handed to Hunt was dire. Inflation was above 10%, living standards were falling, and house prices were going down while interest rates were going up. In the aftermath of Truss?s departure from Downing Street, the Bank of England said the economy was already in recession and would remain that way for the whole of 2023. Opinion polls were pointing to a landslide victory for Labour at the next election. Continue reading...

The Feb. 3 derailment in East Palestine of a Norfolk Southern train carrying toxic chemicals set off an emergency response as residents worried about long-term health effects.

Analysis by UK union shows large corporations have improved profits with price rises in cost of living crisisLarge corporations have fuelled inflation with price increases that go beyond rising costs of raw materials and wages, pushing shopping bills to record highs, according to an analysis of hundreds of company accounts.Highlighting a trend dubbed ?greedflation?, the research indicates that supermarkets, food manufacturers and shipping companies are among hundreds of major firms who have improved their profits and protected shareholder dividends, giving an extra lift to prices, while the cost of living crisis has meant workers face the biggest fall in living standards in a century. Continue reading...

Pfizer?s treatment applies an approach that is different from some other products, which doctors say may make it safer for people at risk of heart attacks or stroke.

Regulators shut down Silicon Valley Bank on Friday, in the largest U.S. bank failure since the 2008 financial crisis.

She opened Murder Ink, believed to be the nation?s first mystery bookstore, and brought fans together through interactive whodunits and other events.

Higher growth should mean stable employment and wages, with low- and middle-income countries seeing biggest improvementsThe end of extreme poverty may finally be achieved by 2050, spurred by economic growth in low-income countries, according to a new economic forecast.Though the Covid pandemic began to reverse progress in eradicating extreme poverty, and additional challenges will emerge, the damage may have a very limited impact on the overall trajectory of economic growth, according to a Center for Global Development (CGD) report. Continue reading...

Young companies raced to get their money out of the bank, which was central to the start-up industry. Some said they could not make payroll.

Soaring profits are a bonanza for executives and shareholders, but all that?s on offer for workers are real-terms pay cutsThese days there is a lot of talk about a ?cost of living crisis?, but as Unite?s most recent research confirms, we should actually be talking about a cost of profiteering crisis. From rising supermarket prices, to energy bills, to transport costs, we are all paying the price.Take UK Power Networks, the National Grid power distributor. Last financial year, according to Companies House, it made a staggering ?1.3bn pre-tax profit. Billions in profit, bonanzas for the executives and shareholders, while there are only real pay cuts on offer for workers. Continue reading...

The Social Security numbers and personal information of thousands of people, including some lawmakers, were stolen in a hack of a D.C. health marketplace disclosed this week.

Financial deregulation lead to the crash in 2008 and it could again in 2023. It?s time to make banking boring againOn Friday, bank regulators closed Silicon Valley Bank, based in Santa Clara, California. Its failure was the second largest in US history and the largest since the financial crisis of 2008.Will other banks fail? On Sunday, regulators closed New York-based Signature Bank. Continue reading...

Moha Alshawamreh is among the few Palestinians who work in Israel?s tech industry. His commute shows both the inequities of life in the?West Bank?and an exception to them.

The collapse of SVB highlights deep failures in the conduct of regulatory and monetary policyLive coverage of Silicon Valley Bank collapseGlobal banking shares slide as SVB fallout spreadsWhy did it collapse and is this the start of a banking crisis?The run on Silicon Valley Bank ? on which almost half of all venture-backed tech startups in the US depend ? is in part a rerun of a familiar story, but it?s more than that. Once again, economic policy and financial regulation have proven inadequate.The news about the second-biggest bank failure in US history came only days after the Federal Reserve chair, Jerome Powell, assured Congress that the financial condition of US banks was sound. But the timing should not be surprising. Given the large and rapid increases in interest rates Powell engineered ? probably the most significant since the former Fed chair Paul Volcker?s interest-rate hikes of 40 years ago ? it was predicted that dramatic movements in the prices of financial assets would cause trauma somewhere in the financial system. Continue reading...

Some who till the breadbaskets of Ukraine have already lost three seasons of planting to war. With mines and cluster bombs widely scattered, normal harvests seem far in the future.

Sale of SVB?s British subsidiary to HSBC is a satisfactory fix but Fed emerges with less of a worthy haloLive coverage of Silicon Valley Bank collapseWhy did it collapse and is this the start of a banking crisis?Comment: SVB?s failure is predictable ? what can it teach us?The good news is that it took only a long weekend to find a fix ? a good one ? for the UK end of the doomed Silicon Valley Bank. Our tech executives can stop writing emotional pleas to the chancellor about their unique importance to the nation?s prosperity. The bad news is that US regulators? solution for the very much larger parent bank raised more questions than it answered. The fallout from the failure of SVB, plus the closure of Signature Bank, could get a lot worse yet.Let?s start with the positive, though. The sale of SVB?s UK subsidiary to HSBC for ?1 is satisfactory from almost every angle. The customers will pass to Europe?s biggest bank, a haven they might have chosen before their cash was trapped at the end of last week. They now have immediate access to their money. The Treasury will be delighted that it has avoided putting public funds at risk. The likely plan B, involving lines of credit to the SVB UK?s customers, sounded horribly messy. Continue reading...

E-bikes, home security cameras and frozen berries added to ONS list in sign of changing shopping habitsTwo ubiquitous consumer items of the 1990s ? alcopops and CDs ? will no longer count towards the monthly update of Britain?s cost of living after the latest shake-up of the shopping basket used to measure price changes.In a sign it is no longer fashionable to order a fruit drink laced with booze in a pub and that the age of the compact disc is over, the Office for National Statistics said both products had fallen foul of its annual audit of the UK?s spending habits. Continue reading...

DealBook unpacks what caused the biggest U.S. bank failure since the 2008 financial crisis ? and what might come next.

A substantial share of fathers who took on more domestic work during lockdowns have kept it up, new data shows, and rearranged their work lives to do so.

Saudi Arabia?s national oil company earned $161 billion last year, a nearly 50 percent jump over 2021, and said demand for oil would continue.

President Biden offers a proposed budget. Jobs numbers once again soared past analysts? forecasts. And we?ll get a new inflation figure this week.

While multiple layers of protection surround the radioactive material, and levels of radiation outside the camera are not dangerous, it should be handled with care, state officials said.

The futuristic film from the studio A24 won seven awards, including for best picture, directing and in three of the four acting categories.

Officials in Japan, South Korea and India, some of Asia?s largest economies, assuaged concerns of a global ripple effect coming from the United States.

The president has met Republican demands for debt reduction with a plan to trim deficits by taxing companies and the rich.

An agreement between attorneys general and major drug distributors increased scrutiny on medications for A.D.H.D., addiction, anxiety and pain.

Prime Minister Rishi Sunak said the country?s financial system was in good health and would not suffer from the demise of Silicon Valley Bank.

Chris McMillan, creator of ?The Rachel,? and Bryce Scarlett, who styles Margot Robbie among others, on what it takes to stand out when you?re trying to make hair look natural.

According to one recent analysis, over half of teachers surveyed are considering quitting. Here are five that already have.

The failed bank had said it provided services to nearly half of all venture-backed technology and life-science companies in the United States.

Li Qiang?s business-friendly reputation could bolster confidence in China?s economy. But he is stepping into a role with diminished power under Xi Jinping.

Shares in regional lenders were under pressure, even after regulators unveiled a vast backstop for U.S. banks after Silicon Valley Bank?s collapse

Nazara Technologies, a mobile gaming company, said two of its subsidiaries had together more than $7.7 million in balances at the failed bank.

In a televised statement before the markets opened, the president said that deposits would still be available after the collapse of two major institutions and insisted that taxpayers would not bear the cost of any bailout.

The volatile conditions led to trading in a dozen banks being halted after triggering so-called circuit breakers, established in part to prevent runaway crashes.

Mr. Cohen, Donald Trump?s onetime fixer, is a key piece of the puzzle as prosecutors move toward an indictment of the former president.

Here?s one takeaway: The bank?s extremely online clientele may have contributed to its downfall.

Regulators said keeping open the 24-year-old institution, which held deposits from law firms and real estate companies, could threaten the financial system?s stability.

The implosion of the Silicon Valley bank led to finger-pointing, as executives and investors jumped on the crisis for their own messaging.

Li Qiang, the country?s No. 2 leader, sought to reassure entrepreneurs who have been wary of making new investments.

The Treasury, Federal Reserve and Federal Deposit Insurance Corporation unveiled a plan to contain fallout from Silicon Valley Bank?s collapse, and said taxpayers would not bear the costs.

Using A.I. tools in hiring is one of the most promising and contentious uses of the technology. The experience of a company called Eightfold AI shows the challenges.

Declining student enrollment is hitting the rural areas that rely on universities. They?re trying to adapt to survive.

Markets wobbled as regulators tried to contain the damage from Silicon Valley Bank?s collapse, closing another bank ? Signature Bank in New York ? and opening an emergency lending program. Regional bank stocks tumbled in early trading.

The Federal Reserve has been rapidly raising interest rates to fight inflation. But making big moves could be trickier amid instability.