Survey: Americans’ faith in banks low after failures
The underwhelming assessment of America’s banks and bank regulation comes after a series of shocks brought back disturbing memories of the 2008-2009 financial crisis.
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Fed raises key rate by quarter-point despite bank turmoil
The Fed warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions” and “weigh on economic activity, hiring and inflation.”
UPDATE: Supreme Court chews on Jack Daniel’s dog toy dispute
The question for the court has to do with whether the manufacturer infringed on Jack Daniel’s trademarks with its bottle-shaped chew toy or whether the product is just a “playful dog-toy parody.”
Pence seeks ‘common sense’ Social Security, Medicare reform
As he mulls a 2024 presidential bid, former Vice President Mike Pence on Tuesday called for “common sense and compassionate solutions” to reform entitlement programs and the nation’s debt burden, suggesting changes to Social Security and Medicare programs.
Fed facing blurrier outlook as it meets to weigh rate hike
The Federal Reserve will have to decide whether to extend its year-long streak of rate hikes despite the jitters roiling the financial industry.
College hoops staffs specialize to meet roster, NIL demands
Coaches across college basketball are bolstering support staffs and looking at ways to evolve to deal with recruiting, roster management and athletes who can earn money.
Army of lobbyists helped water down banking regulations
Former Sen. Joe Donnelly of Indiana was among the top Senate recipients of money from the banking industry during the 2018 campaign season when he served on a group that successfully pushed for easing banking oversight.
NCAA upsets continue as top-seeded IU women fall on home court
The host Hoosiers (28-4) became the second No. 1 seed to be eliminated in two nights. It’s the first time since 1998 that two No. 1 seeds did not advance to the Sweet 16.
Biden issues first veto, taking on new Republican House
Biden sought to kill a Republican-authored measure that would ban the government from considering environmental impacts or potential lawsuits when making investment decisions for people’s retirement plans.
The maddest March ever? Underdogs head to the Sweet 16
Defending national champion the University of Kansas and fellow No. 1 seed Purdue University are gone—the Boilermakers with a slice of unwanted history. The Sweet 16 won’t have blue bloods Kentucky, Duke or North Carolina for only the second time since 1979.
Amazon cuts 9,000 more jobs, bringing 2023 total to 27,000
The job cuts would mark the second largest round of layoffs in the company’s history, adding to the 18,000 employees the tech giant said it would lay off in January.
New York Community Bank to buy failed Signature Bank
The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank’s subsidiaries. The deal will include the purchase of $38.4 billion in Signature Bank’s assets.
Miami storms past IU into Sweet 16
Indiana University Coach Mike Woodson gave all the credit to Miami, which held a 42-26 rebounding advantage.
Indiana women open NCAA tourney with rout of Tennessee Tech
Sydney Parrish scored 19 points and had eight rebounds to lead the top-seeded Indiana Hoosiers.
Jackson-Davis leads Indiana past Kent State in March Madness
The fourth-seeded Hoosiers (23-11) advanced to play fifth-seeded Miami on Sunday for a trip to Kansas City for the Midwest Region semifinals.
Purdue, Painter lament another early March Madness exit
For the third straight year, the Boilermakers were bounced by a double-digit seed, losing Friday night to No. 16 seed Fairleigh Dickinson.
Colts, QB Gardner Minshew agree on 1-year deal, source says
Minshew was 1-3 in four starts filling in for Jalen Hurts over the past two seasons with the Philadelphia Eagles. He reunites with Shane Steichen, the Colts’ new coach, who was Philadelphia’s offensive coordinator.
Parent company of Silicon Valley Bank files for bankruptcy
The filing from SVB Financial Group was widely expected, with much of the company now under the control of banking regulators. The bank was seized last week by the federal government.
COVID-19 pill Paxlovid moves closer to full FDA approval
The medication has been used by millions of Americans since the FDA granted it emergency use authorization in late 2021.
Big banks create $30B rescue package for First Republic
Eleven of the biggest U.S. banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third bank to fail in less than a week and head off a broader banking crisis.