SVB Financial Files for Bankruptcy Protection 

The bankruptcy filing is the largest stemming from a bank failure since Washington Mutual in 2008. Silicon Valley Bank, now under the control of the Federal Deposit Insurance Corp., isn't part of the chapter 11 filing.

First Republic Shares Plunge, Erasing Thursday Gains 

First Republic Bank shares fell more than 30% Friday after a multibillion-dollar rescue deal orchestrated by the biggest U.S. banks failed to convince investors that the troubled lender is on solid footing.

Wall Street Casts Wary Eye on Credit Suisse 

The $50 billion-plus lifeline that Credit Suisse tapped this week was meant to assuage worries about the Swiss lender.

Facebook, Instagram Users in U.S. Can Pay for Verified Service 

The "Meta Verified" subscription service, noted by a blue check mark, also offers direct access to customer support.

GE Cancels Stock Awards for CEO, Cutting Pay $14 Million 

General Electric cites poor returns and earnings performance for the decision, though $146 million in shares could still come Larry Culp's way in 2024.

Illumina Should Heed Icahn, Give Up on Holy Grail 

Management should seek a settlement with the activist that paves the way for a speedier Grail exit

Corporate Bankruptcies Rise as Lofty Interest Rates, Inflation Sap Businesses 

Chapter 11 filings in the first two months of 2023 were up 76% over the same period last year, data show.

Amgen to cut about 450 jobs in second round of layoffs this year 

Amgen Inc. on Thursday said it would lay off about 450 employees, or less than 2% of its workforce, as it faces increasing pressure from drug prices and high inflation.

China Suspends Deloitte's Beijing Unit and Fines It 

The auditor was punished for its work with one of China's largest bad-debt managers

Big Oil Prepares for Upheaval at the Gas Station 

TotalEnergies sale of its European service stations shows a more cautious approach to the growth of electric vehicles than at peers Shell and BP.


(END) Dow Jones Newswires

March 17, 2023 19:15 ET (23:15 GMT)

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