by Ken Chase | Apr 25, 2023 | Banks, News
First Republic Bank shares plummeted to record lows on Tuesday, on the heels of the company’s recently released earnings report. That report confirmed that the bank’s deposits declined by more than 40% in the first quarter of 2023. Tens of billions of dollars in...
by Ken Chase | Apr 22, 2023 | Banks, News
In a news report released on April 21, Moody’s Investors Service downgraded the ratings of 11 regional banks. The company noted in its most recent assessment of the banking industry that the sector is continuing to experience instability due to high inflation and bank...
by Ken Chase | Apr 19, 2023 | Banks, News, Uncategorized
Despite their history of resistance to adopting open source software, banks are now increasingly embracing open source technology as they seek to counter the emerging challenge posed by fintech. Though many banks are still slow to adopt these innovations, most experts...
by Ken Chase | Apr 14, 2023 | News
The latest inflation report from the Labor Department estimated that the rate of consumer price increases slowed in March. The data released on Wednesday confirms that the Consumer Price Index increased by 5% in March, on a year-on-year basis. The February...
by Ken Chase | Apr 13, 2023 | Banks, News
International Monetary Fund (IMF) Chief Economist Pierre-Olivier Gourinchas recently told CNBC that the global economy continues to face severe challenges to growth. Despite an array of downside risks, however, he urged policy makers to continue to use the tools they...
by Ken Chase | Apr 8, 2023 | News
The U.S. labor market continued to show its resilience in March, as employers added an estimated 236,000 jobs to the economy. That job growth was enough to reduce the unemployment rate to 3.5%, according to the Labor Department’s newest employment report released on...
