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☆ Pakistan’s Lahore is the latest megacity to shut down as pollution chokes swathes of South Asia
▼ + stars: | 2023-11-10 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

CNN —Lahore has become the latest megacity to shut down as pollution chokes swathes of South Asia, where nearly 50 million people have been breathing toxic air for nearly a week. Commuters make their way through a busy street amid smoggy conditions in Lahore on November 7, 2023. The PM2.5 levels in all these cities far exceed the World Health Organization’s limit and illustrate a growing concern for South Asian countries as they experience rapid industrializations and population booms that are fueling pollution levels. Commuters make their way along the Signature Bridge amid heavy smog conditions in New Delhi on November 9, 2023. The study also found that every single one of India’s 1.4 billion residents endures annual average pollution levels that exceed guidelines set by the World Health Organization.

Persons: Mohsin Naqvi, Arif Ali, Arun Sankar Organizations: CNN, Authorities, Lahore –, Getty, Getty Images Dhaka, Energy, Institute, University of Chicago, World Health Organization, Doctors Locations: Lahore, South Asia, Swiss, Pakistan’s Punjab, Gujranwala, Hafizabad, AFP, Pakistan, India, New Delhi, Haryana, Punjab, Uttar Pradesh, India’s, Kolkata, Mumbai, Bangladesh, Delhi

☆ PNC Financial Services to cut jobs after quarterly profit drop
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 13 (Reuters) - PNC Financial Services Group (PNC.N) said on Friday it would reduce its workforce by about 4% as part of its cost reduction plans after it posted a drop in profit in the third quarter. Average deposits at Pittsburgh-based PNC were also down 3.8%, at $422.5 billion in the third quarter, compared to $439.2 billion for the same quarter last year. The lender earned a profit of $1.57 billion, or $3.60 per share, compared to $1.64 billion, or $3.78 per share, from a year earlier. The lender said it expects a drop of 1% to 2% for the fourth quarter in its net interest income (NII), compared to the current quarter this year. In the third quarter, it posted a drop of 1.6% in NII, to $3.4 billion, from the same quarter last year.

Persons: Brendan McDermid, Banks, Jaiveer Shekhawat, Pritam Biswas, Pooja Desai Organizations: PNC Financial Services Group Inc, New York Stock Exchange, REUTERS, PNC Financial Services, PNC, Analysts, Signature Bridge Bank, Federal Deposit Insurance Corp, Thomson Locations: New York City, U.S, Pittsburgh, NII, Bengaluru

☆ PNC Bank buys $16.6 bln capital commitment portfolio from Signature Bridge Bank
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO:The logo of PNC Bank, a subsidiary of PNC Financial Services Group, is seen on the window of a branch in Washington, U.S. April 30, 2023. REUTERS/Ashraf Fahim/File Photo Acquire Licensing RightsOct 3 (Reuters) - PNC Financial Services' (PNC.N) banking unit said on Tuesday that it had bought a portfolio of capital commitments from Signature Bridge Bank worth $16.6 billion in an agreement with the Federal Deposit Insurance Corp as receiver. "PNC has long participated in the capital commitments business and the acquired portfolio is highly complementary," the bank said in a statement. PNC Bank purchased these commitments and loans without any funding, guarantees or loss-sharing agreements from the FDIC, the company added. The FDIC closed Signature Bank in March amid an intensifying regional banking crisis and transferred all of its deposits and substantially all of its assets to Signature Bridge Bank, a full-service financial institution that is operating under a board appointed by the watchdog.

Persons: Ashraf Fahim, Jaiveer Singh, Anil D'Silva Organizations: PNC Bank, PNC Financial Services Group, REUTERS, PNC Financial Services, Signature Bridge, Federal Deposit Insurance Corp, PNC, FDIC, Bank, Thomson Locations: Washington , U.S, Bengaluru

☆ Here are stocks to own to take the debt ceiling, bond market out of your investing equation
▼ + stars: | 2023-05-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +18 min

Are the travails of the bond market, like Macbeth expounds, a "tale told by an idiot, full of sound and fury, signifying nothing?" The billionaire class — so incorrectly sought after by the media — so often seems to use the bond market as a sort of intellectual cudgel. That's why I always start my discussion on bonds with the simple query of "where are the layoffs, not forget about stocks, think fixed income." Here the bond market polices only those companies that haven't pivoted to making a profit. They, among all sectors, could be pummeled by the bond market freeze and by the consumers' paralysis.

☆ Here are Tuesday's biggest analyst calls: Apple, Meta, Harley-Davidson, Exxon, Amazon, Roblox & more
▼ + stars: | 2023-03-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley upgrades Meta to overweight from equal weight Morgan Stanley said it sees a more "structurally" disciplined company. " Morgan Stanley upgrades Emerson Electric to overweight from neutral Morgan Stanley said shares of the multinational tech company are too attractive to ignore. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Microsoft is a long-term threat to Apple that's worth watching. Morgan Stanley upgrades Harley-Davidson to overweight from equal weight Morgan Stanley said the stock is attractive at current levels. Morgan Stanley reiterates Exxon as overweight Morgan Stanley said it likes the oil and gas giant's robust "competitive positioning."

☆ Picking up the pieces in the wake of SVB's collapse
▼ + stars: | 2023-03-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

It's just over a week from Federal regulators announcing they would be bailing out depositors of Silicon Valley Bank and Signature Bank. Now, the FDIC said Sunday that New York Community Bancorp's Flagstar Bank will take on nearly all of Signature Bridge Bank's deposits. Credit Suisse, whose problems long preceded SVB's downfall, to be fair, is getting acquired by Swiss rival UBS. Silicon Valley Bank was the bank for tech. The people backing venture capitalists, known as limited partners, share their thoughts on how VCs handled the crisis at Silicon Valley Bank.

☆ Fitch downgrades and withdraws Signature Bank's ratings
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

March 13 (Reuters) - Rating agency Fitch on Monday downgraded Signature Bank's (SBNY.O) long-term corporate ratings to 'D' from 'BBB+' after state regulators closed the New York-based bank on Sunday. Signature Bank's short-term corporate ratings were also downgraded to 'D' from 'F2', Fitch said, adding that all assets and deposits have transferred to Signature Bridge Bank, a successor bank operated by the FDIC. "Fitch Ratings is subsequently withdrawing the ratings of Signature Bank as the bank is under regulatory supervision," it said in a statement on Monday. Reporting by Akriti Sharma in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

If a bank fails, insured deposits will be moved to another FDIC-insured bank or paid out. Checking accounts, savings accounts, money market accounts, and certificates of deposit are examples of FDIC-insured bank accounts. Single bank accounts and joint bank accounts are examples of different ownership categories. If you want to keep more money in the bank than the FDIC will insure, you could open another bank account at a separate bank. Aside from Silicon Valley Bank and Signature Bank, the last bank failure happened in October 2020.

☆ U.S. to provide Ukraine with more weapons as Putin signals end to unpopular mobilization drive
▼ + stars: | 2022-10-15 | by ( Hyder Abbasi | ) www.nbcnews.com time to read: +3 min

Missiles, rockets and anti-tank weapons will form part of a new security assistance package for Ukraine, the Defense Department said Friday, hours after Russian President Vladimir Putin signaled an end to his unpopular mobilization drive. “The United States has delivered unprecedented security assistance to Ukraine and will continue to work with allies and partners to ensure Ukraine has the support it needs,” the statement said. The U.S. has contributed approximately $17.6 billion in security assistance “since the beginning of Russia’s unprovoked and brutal invasion on February 24,” it added. The Pentagon's announcement came after Putin indicated that his controversial military mobilization drive was coming to an end. His said the strikes came after four Russian drones destroyed buildings and caused fires to break out in the region late Friday.

☆ Why the Crimea bridge blast was such a blow to Putin
▼ + stars: | 2022-10-11 | by ( Mithil Aggarwal | ) www.nbcnews.com time to read: +2 min

But when he boasted of his military’s Monday morning assault, Putin sought to frame the attacks as revenge for the blast that damaged his signature bridge connecting Russia with the annexed Crimean Peninsula. “This was the first attack on critical Russian infrastructure,” Frank Ledwidge, senior lecturer of law and strategy at University of Portsmouth, told NBC News. which was directed by her husband, a sign of the prominence Kremlin allies sought to give the bridge in Russian popular culture. Simonyan was one of many hawkish voices who expressed fury in the wake of the bridge blast and delight at Monday's apparent retaliation. While it was unclear whether the bridge blast and Monday’s assault were tied, what was clear is the value of the bridge to both sides.

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