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☆ Jamie Dimon says in shareholder letter AI could be as consequential to the economy as electricity
▼ + stars: | 2024-04-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

JPMorgan, the world’s largest bank by market capitalization, is exploring the potential of generative AI within its own ecosystem, said Dimon. “Over time,” wrote Dimon, “we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition. First Republic purchaseJPMorgan acquired most of First Republic’s assets last May after the San Francisco-based regional bank was seized by the government. Dimon wrote those odds are far too optimistic. “Small changes in interest rates today may have less impact on inflation in the future than many people believe,” he said.

Persons: Jamie Dimon, ”, Dimon, JPMorgan Chase, ” Dimon, “ Organizations: New, New York CNN, JPMorgan Chase, International Monetary Fund, Industries, Nvidia, Microsoft, JPMorgan, Software, San, First Republic, Silicon Valley Bank, Signature Bank, Markets, Traders, Federal Reserve Locations: New York, Republic, San Francisco, Silicon

☆ Smaller climate startups face 'valley of death' as funding freezes up. This VC just raised $325 million to help
▼ + stars: | 2024-03-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Venture capital firm World Fund said Friday it's closed a 300 million euro ($325 million) fund to back startups tackling climate change. World Fund, a European climate technology investor incubated by the environment-conscious search engine Ecosia, said it had raised the cash despite a challenging environment for technology investing — and, in particular, climate technology investing. Investors have reeled from riskier tech-related bets after a jump in inflation and interest rates, which has surged dramatically since the Russia-Ukraine war in 2022. Central banks have hiked rates to stem inflation, which has in turn soured investor sentiment toward tech. "They've been like, sorry this is too much, you can't raise 300 million plus," Višević told CNBC.

Persons: Višević, They've Organizations: World, Silicon Valley Bank, CNBC, Private Locations: Russia, Ukraine, Central, Silicon

☆ Banks are in limbo without a crucial lifeline. Here's where cracks may appear next
▼ + stars: | 2024-03-19 | by ( Hugh Son | ) www.cnbc.com time to read: +8 min

Most of the banks deemed to be potentially challenged are community lenders with less than $10 billion in assets. These banks need to either raise capital, likely from private equity sources as NYCB did, or merge with stronger banks, Graham said. There are other signs of mounting stress among smaller banks. They ranged in size from $90 billion in assets to under $1 billion, according to Fitch. He predicts a surge in merger activity from lenders between $3 billion and $20 billion in assets as smaller firms look to scale up.

Persons: Klaros, Steven Mnuchin, Brian Graham, Graham, you've, PacWest, Banks, Jerome Powell, Powell, Fitch, Brendan Mcdermid, I've, Chris Caulfield, West, Spencer Stuart, You've, Frank Sorrentino, Stephens, It's, that's, Sorrentino Organizations: Silicon Valley Bank, Federal Reserve, Klaros Group, York Community Bank, ex, Fitch, Federal Deposit Insurance Corporation, Traders, New York Stock Exchange, Reuters, U.S, First Republic, Mercer Capital, Bank, Dominion Bank, Capital, Regulators Locations: Silicon, California, New York City, U.S, Toronto, West Monroe, FirstSun, Seattle

☆ Fintech Naro wants to take advantage of Europe's ETF boom. Check out the 10-slide pitch deck it used to raise $3 million.
▼ + stars: | 2024-03-14 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Naro, a German fintech startup, has raised $3 million in pre-seed funding. Cologne-based Naro, founded in 2022, wants to take advantage of the boom in exchange-traded funds — or ETF — products in Europe to offer white-label services to various banks, funds, and brokers. Naro's pre-seed funding round was led by Berlin's La Famiglia alongside Discovery Ventures, plus investment from Robin Capital, Angel Invest, and various angels. Funding will go towards expanding the startup's current team of 10 staff as it looks to partner with potential customers looking to build out products within their existing infrastructure. Naro's business plan subsequently changed from its original slides, you can see a version of its pre-seed pitch deck below:

Persons: Chris Püllen, Püllen, Naro's, Berlin's La Organizations: Business, Trade Republic, Discovery Ventures, Robin Capital, Angel Invest, Credit Suisse Locations: Naro, Cologne, Europe, Germany

☆ How a boutique bank that rode last year's healthcare M&A streak into the big leagues plans to continue to compete with the JPMorgan's of the world
▼ + stars: | 2024-03-13 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

It was more than double the value of the next-largest deal, a Japanese healthcare merger that clocked in at $22 billion. And, for its part, Seagen tapped advisors at two boutique firms: Centerview and MTS Health Partners. "We want to be the preeminent healthcare bank. Last year, during a healthcare M&A boom that's expected to continue this year, the bank onboarded 14 new staffers, including the partners, a company spokesperson said. Advertisement"We are absolutely in growth mode looking to have high-quality bankers who are capable of generating business off of this platform without all the accoutrements of a big bank," Weisenfeld continued.

Persons: Seagen, Andrew Weisenfeld, Goldman Sachs, Morgan Stanley, Dealogic, Weisenfeld, —, Curtis Lane, Bear, Daun Chung, Ryan Stewart, Reed Alexander Organizations: Service, Pfizer, Guggenheim, Centerview, MTS Health Partners, MTS, Goldman, JPMorgan, Bank of America, Partners, CTI, New, Bear Stearns, London Stock Exchange, Seagen, Medicines, Novartis, Chase Securities, Health Partners, Guggenheim Securities, Triple, SVB Securities, Solomon Partners, Citigroup Locations: Wall, New York City, Seattle

☆ It's been one year since SVB's collapse sent shockwaves through the banking sector. Here's where the industry and our financial names stand now
▼ + stars: | 2024-03-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

It's been a year this week since the collapse of Silicon Valley Bank sent shockwaves through the banking sector. Wells Fargo shares got a big boost after a key win with regulators in mid-February. It would allow Wells Fargo to finally grow its assets again and help rake in more profits. MS YTD mountain Morgan Stanley (MS) year-to-date performance Conversely, the Club's other bank stock, Morgan Stanley , has been lagging in 2024 — down 7% year to date. A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs.

Persons: It's, SVB, NYCB, Steven Mnuchin's, Wells Fargo, Wells, they've, Scott Siefers, Piper Sandler, we're, Charlie Scharf, Morgan Stanley, Morgan Stanley's underperformance, management's, Ted Pick, Jim Cramer, Morgan Stanley's, Morgan, Jim, Reddit, Jim Cramer's, JPMorgan, Goldman Sachs Organizations: Silicon Valley Bank, shockwaves, Bank, , New, , New York Community, Strategic Capital, Wells, Wells Fargo, Currency, Federal Reserve, CNBC, Club, Management, Morgan Stanley's IB, Citibank, JPMorgan Chase, Bank of America, Reuters Locations: Silicon, Wells, ,, , New York, Wells Fargo

☆ Regional banks were all ‘guilty until proven innocent’ after Silicon Valley Bank, Citizens CEO says
▼ + stars: | 2024-03-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +9 min

Other regional bank stocks got slammed: By the end of the day, most saw their stock down by double-digit percentages. Kori Suzuki/ReutersIt’s been exactly one year since that fateful day marked the start of a string of subsequent bank failures. Because of that, “there will be bank failures,” Federal Reserve Chair Jerome Powell warned senators in his semi-annual testimony last week. Bruce Van Saun: People like to call last year’s bank failures regional bank failures. Office real estate is just one component of commercial real estate, albeit the most worrisome to banks and economists.

Persons: Bruce Van Saun, NYCB, Kori Suzuki, Reuters It’s, it’s, Jerome Powell, Van Saun, Richard Drew, didn’t, Michael Nagle, Joseph Otting, Otting, CARLOS BARRIA, we’re, we’ve Organizations: New, New York CNN, Citizens Financial Group, New York Community Bank, NYCB, Reuters, CNN, Signature Bank, Silicon Valley Bank, Citizens Financial, Providence, Financial Group, Bloomberg, SVB, we’re, SoFi, Citizens, OneWest Bank, CIT Group, REUTERS Locations: New York, Silicon, San Francisco , California, Providence , Rhode Island, Covid

☆ How the collapse of SVB leaves a gap in tech
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the collapse of SVB leaves a gap in techCNBC's Deirdre Bosa joins 'The Exchange' to report on the banking gap for tech companies, startups, and the innovation economy following the Silicon Valley Bank collapse.

Persons: Deirdre Bosa

☆ Why private equity has been involved in every recent bank deal
▼ + stars: | 2024-03-06 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Greg Nash | ReutersThe $1 billion-plus injection that New York Community Bank announced Wednesday is the latest example of private equity players coming to the need of a wounded American lender. Led by $450 million from ex-Treasury Secretary Steven Mnuchin's Liberty Strategic Capital, a group of private investors are plowing fresh funds into NYCB. That happened to Silicon Valley Bank, whose failure to raise funding last year was effectively its death knell. On Wednesday, headlines around noon that NYCB was seeking capital sent its shares down by 42% before trading was halted. "With private deals, you can talk for a while, and we almost got to the finish line before there was any publicity."

Persons: Jerome Powell, Steven Mnuchin, Greg Nash, Steven Mnuchin's, Warburg Pincus, HomeStreet, Steven Kelly, NYCB Organizations: Financial, Treasury, Reuters, York Community Bank, Strategic Capital, Centerbridge Partners, FirstSun, Wellington Management, Yale Program, Silicon Valley Bank Locations: Rayburn, Washington , U.S, NYCB, PacWest, Banc, California, it's, Silicon

☆ Fed Chair Powell: Compensation incentives a 'tertiary factor' in SVB collapse
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: Compensation incentives a 'tertiary factor' in SVB collapseFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Investors understand their banks are stronger than ever before, says Jim Cramer
▼ + stars: | 2024-03-04 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Investors understand their banks are stronger than ever before, says Jim Cramer'Mad Money' host Jim Cramer takes stock of the state of regional banks one year after the collapse of SVB.

Persons: Jim Cramer Locations: SVB

☆ An under-the-radar recession indicator in the bond market is sounding the alarm for a hard landing
▼ + stars: | 2024-02-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

An under-the-radar recession indicator in the bond market is raising alarm that the economy could be heading for a hard landing, according to ING Economics. Strategists at the analytics firm pointed to a tight correlation between US Treasury yields and Bund yields in Europe, with both yields slipping in recent weeks as markets reprice their interest rate expectations over the short-run. That was the case in the Silicon Valley Bank crisis in early 2023, when a sell-off fueled by the collapse of SVB led Treasury yields and Bund yields to tumble in tandem. "The correlation between UST and Bund yields is significantly elevated, which usually points to a hard-landing narrative," strategists said in a note on Wednesday. New York Fed economists, meanwhile, are pricing in a 61% chance the economy could tip into recession by January of next year.

Persons: SVB Organizations: ING Economics, Treasury, Business, European Central Bank, ING, Bank, UST, Bund, ECB, New York Fed Locations: Europe, Silicon

☆ Why do people keep uninsured money in banks?
▼ + stars: | 2024-02-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Somehow, the same issue plaguing last year’s failed banks is back in focus at the latest bank in crisis: massive loads of uninsured deposits. To be sure, the risk isn’t anywhere close to that of the banks that failed last year: About 94% of domestic deposits at Silicon Valley Bank were uninsured and 90% of Signature Bank’s deposits were uninsured, according to the Federal Reserve. The money is guaranteed by the Federal Deposit Insurance Corporation, which is funded by fees paid by major US banks. About 40% of all money in the US, or $8 trillion, sitting in banks is uninsured, said Lawrence White, a professor at New York University’s Stern School of Business. “It also risks violating the FDIC’s statutory requirement to resolve failed banks and protect insured depositors in the least expensive way possible.”Sometimes, he said, rescuing those uninsured depositors may be the cheapest way to protect insured depositors at banks.

Persons: NYCB, Brian Snyder, James Lee, David Wessel, Lawrence White, University’s, Banks, Ting Shen, ”, Kori Suzuki, JPMorgan Chase, Michael Ohlrogge, Maxine Waters, Elizabeth Warren, “ Organizations: New, New York CNN, New York Community Bancorp, Investors, Silicon Valley Bank, Federal Reserve, Bank, Xinhua, Federal Deposit Insurance Corporation, FDIC, Reuters, Brookings Institution, International Monetary Fund, University’s Stern School of Business, US Treasury, Bloomberg, Getty, Securities and Exchange Commission, Valley Bank, Signature Bank, JPMorgan, Bank of America, Citigroup, First Republic Bank, New York University’s School of Law, Financial Services, Banking Committee, CBS, Bank Coalition of America Locations: New York, Silicon, United States, New, ”, Washington , DC, San Francisco , California, Sen

☆ Stablecoin expansion is bringing liquidity to crypto, but JPMorgan warns of challenges ahead
▼ + stars: | 2024-02-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The stablecoin market cap is growing again, which is a good sign for crypto market liquidity, but it hasn't fully recovered and could face regulatory challenges this year, according to JPMorgan. Stablecoins expanded by $60 billion between their May 2022 peak and their October 2023 low of $122 billion. But as investors anticipated the Securities and Exchange Commission's approval of spot bitcoin ETFs in the U.S., the market expanded by $9 billion between October 2023 and January 2024. This is generally a "positive sign" for crypto, according to JPMorgan analyst Nikolaos Panigirtzoglou. Despite bitcoin's stellar 157% gain in 2023 and nearly ideal setup for 2024, the crypto market has been struggling with low liquidity since last year.

Persons: Nikolaos Panigirtzoglou, Panigirtzoglou, Panigirtzaoglou, confidentially, — CNBC's Michael Bloom Organizations: JPMorgan, Securities, Exchange, U.S ., Bank, U.S Locations: U.S, Silicon, SVB, Europe, Crypto, USDC

☆ A commercial real estate crash is unfolding, and regional banks are feeling the pain
▼ + stars: | 2024-02-01 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

Regional bank stocks are feeling the bite of the unfurling commercial property crisis in a rout that's giving SVB-collapse flashbacks. Commercial real estate loans are going sour with huge defaults on the horizon, pummeling banks from New York to Tokyo. Regional banks are a lot more exposed and vulnerable to commercial real estate loans. AdvertisementPlummeting regional bank stocks are giving investors déjà vu, but the underlying problem this time around is the commercial property crisis. The decline was led by New York Bancorp, which tumbled nearly 40% on Wednesday after posting a fourth-quarter loss of $260 million due to of sour commercial real estate loans.

Persons: —, déjà Organizations: Service, Nasdaq, Silicon Valley Bank, New York Bancorp, Business Locations: New York, Tokyo, Silicon

☆ Oppenheimer says bank stocks are ‘significantly undervalued’ and gives its top picks
▼ + stars: | 2024-01-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

It's time for investors to shake off the fear of bank stocks created by last year's deposit outflows and regional bank failures, according to Oppenheimer. Analyst Chris Kotowski said in a report to clients on Tuesday that bank stocks are "significantly undervalued," highlighting that the KBW Bank Index finished 2023 down 4.8% for the year, or 29 percentage points behind the S & P 500. That gap is too large to justify even with the collapse of a few regional banks such as Silicon Valley Bank, Kotowski said. The firm's top two bank stocks are Goldman Sachs and Jefferies , both of which can serve as a bet on a rebound in the capital markets business. Kotowski also recommended several other large bank stocks, including Bank of America , JPMorgan Chase and U.S. Bancorp .

Persons: Oppenheimer, Chris Kotowski, Kotowski, Goldman Sachs, David Solomon, Jefferies, Goldman, JPMorgan Chase, —, CNBC's Michael Bloom Organizations: KBW, Silicon Valley Bank, Jefferies, Goldman, LSEG, Bank of America, JPMorgan Chase, U.S . Bancorp, JPMorgan Locations: Silicon, LSEG

Applying for a business credit card using an EIN keeps your personal and business finances separate. Advantages of using an EIN for business cardsUsing an EIN for business credit cards offers several advantages for business owners. SVB Innovators Card: The SVB Innovators Card earns 2x points on all business spending, making it a rewarding choice for business owners who want a business credit card using only an EIN. The SVB Innovators Card earns 2x points on all business spending, making it a rewarding choice for business owners who want a business credit card using only an EIN. How to obtain an EIN for business card applicationsIf you want to get a business credit card using your EIN, you might need to start by obtaining the EIN itself.

Persons: —, EIN, Holly Johnson, it's, Julia Menez, BILL, Keogh Organizations: Service, Internal Revenue Service, IRS, Card, EIN Locations: United States, Chevron

☆ We're raising our Morgan Stanley price target despite the stock's post-earnings decline
▼ + stars: | 2024-01-16 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Morgan Stanley on Tuesday morning reported an adjusted earnings-per-share beat. MS 1Y mountain Morgan Stanley 1 year Shares of Morgan Stanley were on a five-session losing streak with Tuesday's post-earnings 5% decline. However, Morgan Stanley — and for that matter, Wells Fargo — saw their stocks surge into the end of 2023. Asset management revenue increased 6% from last year, reflecting higher asset levels and the impact of positive fee-based asset flows. Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023.

Persons: Morgan Stanley, Wells Fargo, Morgan Stanley's, Morgan Stanley —, Ted Pick, Morgan Staley, ROTCE, it's, Morgan, Morgan Stanley repurchased, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, Bloomberg, Federal Deposit Insurance Corporation, Silicon Valley Bank, Morgan, Wealth Management, Investment Banking, FDIC, Institutional Securities, Investment, Equity, Morgan Stanley's Wealth Management, Investment Management, Asset, Capital, CNBC, Bloomberg Television, Getty Locations: Silicon, Wells Fargo —, U.S, New York

☆ Marc Andreessen says student loan forgiveness is a 'bailout.' Ben Horowitz thinks college is mostly 'a scam.'
▼ + stars: | 2024-01-16 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Marc Andreessen thinks student loan borrowers who received loan forgiveness are akin to companies and banks that got government bailouts rescuing them from bankruptcy. In a two-hour podcast titled "Crisis in Higher Ed & Why Universities Still Matter," published by his firm Andreessen Horowitz, Andreessen took issue with people having some or all of their outstanding student debt erased in actions by the Biden administration. Andreessen Horowitz is a major SVB customer, and the bank also invested billions in the firm's funds. The Biden Administration also had a broader student debt relief plan struck down by the US Supreme Court last year, and it has moved forward with targeted relief programs based on specific borrower criteria. In response to Andreessen's issue with student loan forgiveness, A16z cofounder Ben Horowitz responded with the argument that, although the action provides relief for some, it does not address "the real issue."

Persons: Marc Andreessen, Andreessen Horowitz, Andreessen, Biden, they've, wouldn't, Ben Horowitz, Horowitz, they'll, That's, A16z Organizations: Service, Business, Legal, Bank, Federal Deposit Insurance Corporation, Biden Administration, US

☆ Women's health is gaining traction — and a top VC predicts a blockbuster IPO for Maven could pave the way for more transactions
▼ + stars: | 2023-12-26 | by ( Blake Dodge | ) www.businessinsider.com time to read: +4 min

Investors rely on "exits" such as initial public offerings when assigning valuations to similar companies, Farr said. So the lack of attractive data on this front is helping to hold back the women's health category as a whole, she said. "Depressed valuations are keeping the IPO window latched," the authors of the SVB report wrote. Maven ClinicWomen's health, long neglected by VCs, is gaining tractionHistorically, investment in women's health has lagged behind other parts of healthcare. More than 76% of women's health startups have at least one female cofounder, the SVB report said.

Persons: Chrissy Farr, Farr, Maven, Kate Ryder, SVB, Gina Bartasi Organizations: OMERS Ventures, Silicon Valley Bank, Business, Maven

☆ Norway sovereign wealth fund to co-lead class action in SVB bankruptcy
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

Silicon Valley Bank (SVB) logo is seen through broken glass in this picture illustration taken March 16, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOSLO, Dec 1 (Reuters) - Norway's $1.5 trillion sovereign wealth fund, the world's largest, said on Friday it has been appointed by a U.S. court to co-lead an ongoing U.S. securities class action relating to the now-bankrupt Silicon Valley Bank (SVB). The Norwegian fund said the SVB case raised significant concerns regarding the integrity of the public markets, the governance of large financial institutions and the interests of the investor community more broadly. It held a 1% stake in SVB at the end of 2022, valued at $137.9 million, according to data on the fund's website. The other co-lead plaintiff in the class action is Swedish pension fund Sjunde AP-fonden (AP7), the Norwegian fund said.

Persons: Dado Ruvic, Nicolai Tangen, Nerijus Adomaitis, Jane Merriman, Kirsten Donovan Organizations: Bank, REUTERS, Rights, fund's, Thomson Locations: Rights OSLO, U.S, SVB, Swedish

☆ Private-asset binge exposes insurance to new risks
▼ + stars: | 2023-11-30 | by ( John Foley | ) www.reuters.com time to read: +7 min

The concept is not new: Warren Buffett’s Berkshire Hathaway (BRKa.N) has used its insurance premiums to help fund everything from railways to cowboy-boot makers. The prospect of insurance companies buying risky loans or private equity investments has raised eyebrows. Many private credit assets, for example, rely on so-called private letter ratings based on confidential data. Given the private nature of private credit, it’s hard to see from the outside how big these risks are, or where they lurk. Besides, even if the share of life insurance assets that are mis-rated or undercapitalized is tiny, smaller insurers could carry more concentrated risk.

Persons: Blackstone, Warren Buffett’s Berkshire Hathaway, Fitch, Kroll, Egan, Jones, DBRS Morningstar, Banks, SVB, Jonathan Guilford, Neil Unmack, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Apollo Global Management, KKR, Global Atlantic, Investments, National Association of Insurance, England’s Everton FC, Rivals, Reuters Graphics Reuters, Federal Reserve, Federal Deposit Insurance Corp, Athene, P Global, Insurance, SVB, Thomson Locations: Global, Delaware , New York, Iowa, New York, London

☆ Sam Altman suddenly looks less powerful. The panic caused by OpenAI's near-death experience is to blame.
▼ + stars: | 2023-11-30 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

VCs threatened to sue OpenAI's board, and some jockeyed to get in on whatever new situation might replace the fizzled startup. And in OpenAI's case, Altman was brought back as CEO and all the employees stayed. AdvertisementUntil this moment, the consensus was that Altman came through this crisis looking even more powerful and crucial to OpenAI's future. 'The company will be totally fine without me'Silicon Valley just realized that the fate of the world's most important AI company rested in the hands of just one person. The startup's near-death experience unsettled the companies and developers that have come to rely on OpenAI's artificial intelligence platform.

Persons: OpenAI, Altman, —, Sam Altman, VCs, OpenAI's, Wesley Chan, Claude, Guillermo Rauch, Rauch, pinged Rauch, –, Bret Taylor, Madeline Renbarger Organizations: Service, Microsoft, FDIC, FPV Ventures, Google, Services Locations: Silicon Valley, It's

☆ Rate cuts are likely coming next year, but investors shouldn't bank on them saving the market
▼ + stars: | 2023-11-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at why the rate cuts investors have been praying for might not be the godsend they imagined. But rate cuts won't necessarily be the win markets are hoping for, Business Insider's Jennifer Sor writes. Still, some interest rate traders are predicting rate cuts coming as soon as this March, according to CME's FedWatch Tool. Another key piece of the economy facing headwinds complicates the case for rate cuts being a boon for investors.

Persons: —, I've, we're, Patrick Semansky, Jennifer Sor, CME's, Jennifer, Insider's Dominick Reuter, Miles Goodloe, Domenic, Robert Oszust Jr, Domenic Boresta, Alice Brooks, Jennifer Campbell, Sean Jacobsohn, he's, Jacobsohn, Chelsea Jia Feng, They're, it's, Gen, Bradley Cooper, Ben Affleck, Greta Gerwig, Bill, Bill —, Bill Nye, Science Guy, Manolo Blahnik, Jimi Hendrix, Steve Bannon, Bruce Lee, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, Business, Federal Reserve, Fed, UBS, Big Tech, Retail, Walmart, Target, Financial Times, Echo, Khosla Ventures, Science Locations: Washington, Miles, Chelsea, New York City, San Diego, London, New York

☆ How SVB is helping clients sell wine, diamond jewelry, and wearable tech this holiday season
▼ + stars: | 2023-11-24 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

But despite SVB Private's elite clientele, the holiday gift guide isn't intended to make headlines for boasting extravagant items like the Neiman Marcus luxury wish list. Instead, the list highlights SVB clients, which is organized by vendor rather than category and includes quotes from each founder. SVB Private's gift guide includes Flanagan Wines, owned by client Eric Flanagan, pictured with his wife, Kit. During the pandemic, Gregory's 400-plus winery clients were struggling with restaurants closed and wine tastings off-limits. Flanagan has sold wine through SVB's monthly specials and appreciated getting brand awareness with SVB's rich tech clients.

Persons: SVB, Marcus, Eric Flanagan, Flanagan, They're, Greg Gregory, SVB's, Gregory, Jes Wolfe, Rebel, Jeanette Epps, Aileen Lee, Milo, Peter Celinski, Celinski, They've, I'd, I've Organizations: Bank, SVB, Business, First Citizens Bank, Silicon Valley Bank, Valley Bank Locations: Tahoe, Silicon, That's, Milo

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