Shares on Wall Street have been falling for some banks - trading in PacWest, seen as one of the weakest of the midsized regional banks, was briefly halted for volatility and was down 25 per cent by noon in New York. Western Alliance was down more than 20 per cent.
Thousands of Hollywood TV and movie screenwriters are today downing tools after last minute ... Show More
Today
Trade, not aid, for Africa
As the UK government targets developing nations with new trade measures, we hear from trade minister Douglas Alexander on whether it can prove to be a workable lifeline for African countries affected by western states cutting their international aid budgets. David Harper speaks t ... Show More
26m 27s
Yesterday
Trump plans to impose 50% tariffs on Brazil
The US president, Donald Trump, has made public the tariffs he intends to slap on imports from another group of countries, including Brazil, from the start of August. The chipmaker Nvidia has become the first company in the world to reach a market value of $4tn on Wednesday. Davi ... Show More
27m 12s
Mar 2023
Why the Banking Crisis Isn’t Over Yet
In the past week, as spooked customers frantically withdrew $42 billion from Silicon Valley Bank, the U.S. government stepped in to craft a rescue operation for the failed lender.But efforts to contain the crisis have met resistance, and the fallout of the collapse has already sp ... Show More
29m 4s
Mar 2023
A Great Recession bank takeover
Earlier this month, we saw the largest bank collapse since the 2008 financial crisis. For many of us, seeing Silicon Valley Bank's meltdown brought us right back to that time 15 years ago, at the beginning of what would become the Great Recession. In early 2009, one or two banks ... Show More
18m 42s
Apr 2023
Here Are the Signs of a Slow-Moving Credit Crunch
The big headlines from March's banking crisis have receded and balances at some of the Federal Reserve's emergency lending facilities, like the discount window, are starting to fall. But if you look closely, there are still signs of strain in the depths of the financial system. A ... Show More
45m 51s
Mar 2023
The Huge Significance of Small Banks
Torsten Slok had been firmly in the “no landing” camp of economists. More positive than a “soft landing,” its adherents say the Federal Reserve will tame inflation without triggering a recession at all. But for Slok, chief economist of Apollo Global Management, that all changed w ... Show More
39m 43s
Feb 2023
UK endures biggest strikes in a decade
The European Central Bank and the Bank of England have raised interest rates again, one day after a similar move by the US Federal Reserve. But amid those big players, Britain seems in particular trouble, with the International Monetary Fund warning it will be the only major econ ... Show More
54m 44s
Oct 2020
Bank profits in a recession
The market volatility of the past few months has been a boon for the trading divisions of many Wall Street banks, including Morgan Stanley. Laura Noonan, the FT’s US banking editor, explains how success in trading, and a focus on wealth management has positioned Morgan Stanley to ... Show More
18m 54s
Mar 2023
The Death of Silicon Valley Bank
On 7th March, Silicon Valley Bank tweeted, “Proud to be on @Forbes’ annual ranking of America’s Best Banks…”
By 10th March, SVB’s stock price had tanked by 60% and the bank was taken over by an arm of the US government.
What on earth happened?
In today’s episode for 13th March 20 ... Show More
10m 12s