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☆ Why hundreds of U.S. banks may be at risk of failure
▼ + stars: | 2024-05-01 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +1 min

Hundreds of small and regional banks across the U.S. are feeling stressed. "You could see some banks either fail or at least, you know, dip below their minimum capital requirements," Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and found 282 banks face the dual threat of commercial real estate loans and potential losses tied to higher interest rates. "That means there'll be fewer bank failures. For individuals, the consequences of small bank failures are more indirect.

Persons: Christopher Wolfe, They're, Brian Graham, Graham, Sheila Bair Organizations: Fitch, CNBC, Consulting, Klaros, U.S . Federal Deposit Insurance Corp, FDIC Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the Fed expects more bank failuresOf about 4,000 U.S. banks analyzed by the Klaros Group, 282 banks face stress from commercial real estate exposure and higher interest rates. The majority of those banks are categorized as small banks with less than $10 billion in assets. "Most of these banks aren't insolvent or even close to insolvent. They're just stressed," Brian Graham, Klaros co-founder and partner at Klaros. "That means there'll be fewer bank failures.

Persons: They're, Brian Graham, Klaros Organizations: Fed, Klaros

☆ Google DeepMind wants to make AI a part of soccer
▼ + stars: | 2024-04-13 | by ( George Glover | ) www.businessinsider.com time to read: +6 min

Google DeepMind launched a prototype AI soccer tactics tool last month. DeepMind developed the tool with Liverpool FC, known for its data-driven approach to soccer. AdvertisementGoogle DeepMind is bidding to bring artificial intelligence (AI) into soccer by launching a new tool to help coaches make better tactical decisions. DeepMind researchers published their findings in the scientific journal Nature Communications. Google DeepMindHaving that knowledge on hand helped the collaboration between DeepMind and Liverpool to run smoothly, according to Veličković.

Persons: Google DeepMind, DeepMind, —, Zhe Wang, Didier Drogba, Divock, Chelsea's Didier Drogba, Ian MacNicol, Petar Veličković, Billy Beane, Ian Graham, they've, Liverpool —, Monterrey's Sergio Canales, Yuri Cortez, We're, Wang, it'll Organizations: Google, Liverpool FC, Service, English Premier League soccer, Nature Communications, Soccer, Former Ivory Coast, Chelsea, Liverpool, FC Barcelona, UEFA, Boston Red Sox, Fenway Sports Group, Liverpool FC's, Ph.D.s, Harvard, Inter Miami, Getty Locations: London, Cambridge, Anfield, DeepMind, Liverpool, AFP

☆ 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

☆ Searching for your Irish ancestry? Guinness’ archives could help you reconnect with your roots
▼ + stars: | 2024-03-08 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +6 min

“It’s, unfortunately, one of the biggest barriers to Irish family history research,” says Crista Cowan, corporate genealogist for Ancestry. The 1.6 million records come from what might sound like a surprising source: the archives of Ireland’s famed Guinness brewery. The Guinness brewery has a storied pastResearchers combing through the newly released files might stumble upon some celebrity connections, too. Courtesy Guinness Archive, Diegeo IrelandArthur Guinness signed a 9,000-year lease on a Dublin brewery in 1759. Courtesy Guinness Archive, Diageo IrelandWorkers generally entered the Guinness workforce at age 14, according to a description of the records on the company’s website.

Persons: “ It’s, ”, Crista Cowan, they’ll, Patrick’s, Cowan, ” Cowan, “, who’s, John O’Brien, Liam Neeson, Graham Norton, Bono, Arthur Purcell, who's, Purcell, Arthur Guinness, “ Guinness, …, Eibhlin Colgan, ” Guinness, Guinness, ‘ Organizations: CNN, Public Records, Ireland’s, Guinness, Diegeo, Records, Brewery, Diageo, Diageo Ireland Workers Locations: Dublin, St, Ireland, Diegeo Ireland, United Kingdom, United States, Diageo Ireland, James’s, James's

☆ The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
▼ + stars: | 2023-07-10 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

But even as the dust settles from a string of government seizures of failed midsized banks, the forces that sparked the regional banking crisis in March are still at play. What is coming will likely be the most significant shift in the American banking landscape since the 2008 financial crisis. JPMorgan shares are up 7.6% this year, while the KBW Regional Banking Index is down more than 20%. Some of those pressures will be visible as regional banks disclose second-quarter results this month. "The fundamental issue with the regional banking system is the underlying business model is under stress," said incoming Lazard CEO Peter Orszag.

Persons: Jamie Dimon, Brian Graham, Banks, KeyCorp, Matt O'Connor, Peter Orszag, SVB, Chris Wolfe, Wolfe, you've, You've, Goldman Sachs, Lazard's Orszag, Orszag, Janet Yellen, Sen, Elizabeth Warren, Klaros, Graham Organizations: First, JPMorgan, Silicon Valley Bank, CNBC, Klaros, Deutsche Bank, Federal Reserve Bank of New, Justice Department Locations: First Republic, Silicon Valley, SVB, KBW, Federal Reserve Bank of New York, Republic

☆ All They Want For Christmas Is to Stop That Mariah Carey Song
▼ + stars: | 2022-12-12 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

Christian Graham doesn’t want a lot for Christmas. In fact, there is just one thing he needs. “Enough is enough,” says Mr. Graham about Mariah Carey‘s mega hit, “All I Want for Christmas is You,” which plays incessantly at the Chicago deli where he works. “Past a certain point, I might go crazy,” he says.

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