Economy Archives - Slay News

Biden Urges Congress to Ban Executives of Collapsed Banks from Industry

President Joe Biden has called on Congress to toughen penalties against the executive of collapsed banks. Biden recommended that executives of failed banks should be banned from working in the banking sector again. The White House released a plan to hold senior management more accountable when their financial institutions collapse…

ChatGPT Inspires Matchmaking Service Focused on Traditional Values

ChatGPT-3’s debut in late 2022 shook up tech–and online dating was no exception. Within weeks, Tinder users were reportedly penning bios with the AI tool’s chatbot interface. In February, Mashable reported that OkCupid has used ChatGPT to generate questions for its users. Some have voiced skepticism about the prospects of AI-enabled…

Banks Are Borrowing Billions to Maintain Liquidity amid Banking Crisis, Fed Data Shows

U.S. banks are borrowing billions of dollars to maintain liquidity following the recent collapse of Silicon Valley Bank (SVB), data published by the Federal Reserve shows. Banks have borrowed a combined total of $164.9 billion from the central bank in recent weeks amid the banking crisis, according to Fed statistics released…

Sen John Kennedy: Silicon Valley Bank Crisis Could Have Been Avoided

Sen. John Kennedy (R-LA) has argued that the Silicon Vally Bank (SVB) collapse, and the resulting banking crisis, could have been avoided. The senator stated during a speech on the Senate floor Wednesday that the bank’s executives and federal regulators should have done their job on risk management. Kennedy emphasized…

BlackRock CEO Warns Corporate America: ‘Climate Change’ Is a ‘Risk’ to Investments

BlackRock CEO Larry Fink has issued a warning to corporate America about the alleged threat to investments that "climate change" poses. Speaking to investors on Wednesday, Fink warned that his asset management company views climate change as a "risk" to portfolio companies. Alongside rival asset management firms State Street and…

Top Audit Firm Gave SVB, Signature Bank Clean Bill of Health Just Days before Collapse

One of America's leading audit firms, KPMG, is defending giving both Silicon Valley Bank (SVB) and Signature Bank a clean bill of health just days before they collapsed last weekend. The banks imploded when customers rushed to withdraw their savings in panic-fueled bank runs. The two banks collapsed shortly after…

GOP 2024 Candidate Ramaswamy: Feds Should Let Silicon Valley Bank ‘Fully Fail’

Republican 2024 presidential candidate Vivek Ramaswamy has called for the federal government to step back and allow the collapsed Silicon Valley Bank (SVB) to "fully fail." Ramaswamy is calling for restraint by the feds in its response to the swift collapse of tech-sector darling SVB over the weekend. His comments…

Biden: Silicon Valley Bank Investors Will ‘Lose Their Money’

President Joe Biden has said that investors in the collapsed Silicon Valley Bank will "lose their money" because "that's how capitalism works." In a prepared address, Biden assured the American people that he has confidence that the U.S. banking system is safe. The president outlined his administration’s plan surrounding Silicon…

New York’s Signature Bank Closed Down by Regulators over ‘Systemic Risk’

Regulators have shut down New York's cryptocurrency-focused Signature Bank in an effort to prevent the banking crisis from spreading. The banking regulators cited "systemic risk" in a statement announcing the move on Sunday evening. "We are also announcing a similar systemic risk exception for Signature Bank, New York, New York,…

Taxpayer Funding for Ford’s New Battery Plant Rejected by Michigan State Legislators

A plan to use taxpayer money to help fund the new Ford electric vehicle battery plant in Michigan has been rejected by state legislators. On Saturday, the Michigan House Freedom Caucus held a press conference to object to using tax dollars to fund the plant. The construction of the new…