Goldman Sachs

The Fed has unleashed a rapid series of rate hikes to combat inflation, which has prompted banks to pay higher interest on traditional savings products like money market funds, certificates of deposit and regular savings accounts

The effort seeks to stop the California-based bank from becoming the third bank to fail in less than a week. Shares of First Republic had fallen sharply this week, dropping 60% on Monday alone

Even though prices are rising much faster than the Fed wants, some economists expect the central bank to suspend its year-long streak of interest rate hikes when it meets next week

With bank share prices cratering Monday and fears of further financial instability roiling markets, most economists now expect the Fed to pause its rate hikes next week

Roger Ng looted a Malaysian development fund of billions of dollars used to finance lavish parties, a superyacht and even the 2013 film ‘The Wolf of Wall Street’

Several factors likely helped propel last month’s spending

The electric car company has lost more than 70% of its value on the stock market and analysts doubt that it can maintain its market share in the long term

Management said it will enforce its ‘Saturday rule’ forbidding work on that day, and blamed high client volumes and the Covid-19 pandemic for added stress levels at the investment bank

Investment bank purchased $865m worth of bonds in state oil company PDVSA at a steep discount

The sale of state-owned homes to private firms has left hundreds of families facing eviction