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Alongside them are the Queen’s sister, Princess Margaret, plus Princess Alexandra and the Duchess of Kent, all holding their newborn babies. The Royal Family at Royal Lodge, 1943, conveying a reassuring sense of domesticity and calm during the war. Royal Collection TrustBeaton was the official photographer for Elizabeth’s coronation in 1953. Snowdon/Royal Collection TrustAnother highlight is the earliest surviving color print of a member of the royal family. Paolo Roversi/Royal Collection TrustGET OUR FREE ROYAL NEWSLETTER • Sign up to CNN’s Royal News, a weekly dispatch bringing you the inside track on the royal family, what they are up to in public and what’s happening behind palace walls.
Persons: Elizabeth II, Prince Edward, Princess Margaret, Princess Alexandra, Duchess, Kent, Princess Margaret’s, Antony Armstrong, Jones, Lord Snowdon, Princess Elizabeth, Cecil Beaton, , , King George VI, Queen Elizabeth, Elizabeth, Margaret, Windsor . King George VI, comfortingly, Queen Elizabeth II, Prince Philip, Collection Trust Beaton, Martin Charteris, Beaton, Charles, Princess Anne, Anne, Pippin, Norman Parkinson, Snowdon, Madame Yevonde, Princess Alice , Duchess of Gloucester, Edward VIII, Andy Warhol’s, Andy Warhol, Todd, Ben Fitzpatrick, Paolo Roversi’s, Princess, Catherine, Alexandra , Princess of Wales, Franz Xaver Winterhalter, Wales, Cambridge, Paolo Roversi, Alessandro Nasini, Dorothy Wilding, Annie Leibovitz, David Bailey, Rankin Organizations: CNN, Royal, Royal Archives, Collection Trust, CNN’s Royal Locations: Royal, Windsor ., Buckingham, Wales
CNN —Were dinosaurs warm-blooded like birds and mammals or cold-blooded like reptiles? Clues from dinosaur eggshells and bones have suggested that some dinosaurs were warm-blooded and others were not. These dinosaurs may have evolved endothermy, or the ability to internally generate body heat, according to the study. “Warm-blooded animals are generally more active, for example, cold-blooded animals usually don’t build nests,” said lead study author Dr. Alfio Alessandro Chiarenza, Royal Society Newton International Fellow at University College London’s department of Earth sciences. Her 2022 study suggested that ornithischians were more likely cold-blooded and sauropods were warm-blooded.
Persons: Big John, Sarah Meyssonnier, ornithischians, , Alfio Alessandro Chiarenza, Brontosaurus, ” Chiarenza, , Jasmina, ” Wiemann, Chiarenza, Anthony Fiorillo, ” Fiorillo, wasn’t Organizations: CNN, Royal Society Newton International, University College London’s, Field, UCL, Universidade de, New, New Mexico Museum, Southern Methodist University Locations: Paris, Chicago, Spain, New Mexico, Dallas
In the pitch-dark auditorium of Rome’s Teatro Costanzi, a high-pitched lament floated from the top galleries. Dozens of flashlights snapped on, their beams crisscrossing crazily, seeking the source of the sound. The shafts of light homed in on a spectral figure — a slim, dark-haired woman dressed in white, moving at a funereal pace and plaintively singing. In the audience, 130-odd children, ages 8 to 10, let loose squeals, some gasps, and one “it’s not real.” Several called out “Emma, Emma.”The children had just been told that the Costanzi, the capital’s opera house, had a resident phantom. This was said to be the spirit of Emma Carelli, an Italian soprano who managed the theater a century ago, and loved it so much that she was loath to leave it, even in death.
Persons: Emma, , Emma Carelli Locations: Italian
Packed bars with carousing revelers spilling onto clogged streets. Takeaway booze swigged by drunken tourists and students. Earsplitting volumes in once quiet residential neighborhoods long after midnight. It will go into effect next week and be in force until Nov. 11. Outdoor seating for restaurants and bars will also end at 12:30 a.m. on weekdays, and an hour later on weekends, so that people who want to party longer will have to do so indoors.
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Learn moreIt's time for UFC 301, which will see Brazilian Alexandre Pantoja defend his title against Australian Steve Erceg. ET / 3 a.m. BST (Sun) / 10 a.m. AWST (Sun)How to watch UFC 301 in the USAs usual, UFC 301's main event will stream tonight at 10 p.m. Shop at ESPNWhere to watch UFC 301 everywhere elseIf you're not in the US, you can catch the fights in the UK via TNT Sports. Canadian UFC fans can purchase the PPV fight through most major TV services, as well as through UFC Fight Pass for $65. UFC 301 Fight Card: Pantoja vs. ErcegMain card - 10 p.m.
Persons: Alexandre Pantoja, Steve Erceg, Aldo, Jonathan Martinez, we've, ExpressVPN, José Aldo, Anthony Smith, Vitor Petrino, Michel Pereira, Ihor Potieria, Paul Craig, Caio Borralho, Brito, Jack Shore, Karolina Kowalkiewicz, Iasmin, Myktybek, Joaquim Silva, Drakkar Klose, Mauricio Ruffy, Jamie Mullarkey, Dione Barbosa, Ernesta, Ismael Bonfim, Vinc, Alessandro Costa, Kevin Borjas Organizations: Business, UFC, ESPN, TNT, US, TNT Sports Locations: Rio de Janeiro, Brazil, ExpressVPN, Canada
Musician Rosalía brings the straitjacket back into view
  + stars: | 2024-05-03 | by ( Leah Dolan | ) edition.cnn.com   time to read: +5 min
CNN —On Tuesday, 12-time Latin Grammy winner Rosalía stepped out in New York wearing an outfit that demanded a double-take. (Since the release of her third album, “Motomami,” Rosalía has been spotted in everything from biker-style shield sunglasses to Harley Davidson helmets). In 1994, the New York State’s Office of Mental Health proposed that straitjackets be discontinued after 18 patients died while restrained or in “unsupervised seclusion” between 1988 and 1992. But Rosalía isn’t the first to attempt to recontextualize the garment in the name of fashion. At the Gucci show in 2019, Ayesha Tan-Jones protested the label's straitjacket-inspired clothes by writing "Mental health is not fashion" on their hands.
Persons: Rosalía, Rick Owens, ” Rosalía, Harley Davidson, Gucci, Ayesha Tan, Jones, , Alessandro Michele’s, hasn’t, Julia Fox, we’ve, Ye’s, Bianca Censori, John Galliano —, Dior, , Maison, Dolce, Rosalia Organizations: CNN, York State’s, Mental Health, Fashion, Gucci, Penske Media, Maison Margiela, Dolce, Gabbana Locations: New York, Spanish, York, Gotham, Tan, Florence, Italy, Shanghai, China
The fall of Gucci was inevitable
  + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com   time to read: +13 min
"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.
Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia
Others took evening walks in the city and shared the bright orange scenes on social media. A low-pressure system over northern Africa swept dust over Cyprus several times in mid-April, “darkening skies and reducing air quality,” NASA said Tuesday. Dust was expected to continue to cross the Mediterranean, impacting both Cyprus and Greece over the next several days, NASA said. People cross a snow covered railway in Helsinki, Finland, on April 23, 2024, as an unusual weather system brought trams in the city to a halt. Photos showed Helsinki residents walking through thick snow and ice, carrying umbrellas under heavy snowfall, and tall clusters of snow piled up on sidewalks, cars and scooters.
Persons: Alessandro Rampazzo, Johannes Laitila, Finavia, ” Finavia, , Antti Vigelius Organizations: CNN, NASA, Anadolu Agency, Getty, YLE, Helsinki Airport, Johannes Locations: Greece, Africa, Athens, Cyprus, Helsinki, Finland, Europe
Some climate activists accuse the industry of simply investing in carbon capture as way to extend the use of oil and gas. The technology typically uses chemical absorption to capture carbon dioxide emitted from the chimney of an industrial plant. "The economic viability of carbon capture and sequestration is a challenge today because the cost of building most plants in order to capture carbon dioxide are very significant," the executive said. About two-thirds of the industry's carbon dioxide emissions come from chemical reactions that occur when breaking down limestone. SLB this month announced a nearly $400 million investment in Aker Carbon Capture, a pure-play carbon capture company based in Norway, in an effort to accelerate deployment of the technology at commercial scale.
Persons: Chin Lee, Biden, SLB, Fred Majkut, Majkut, Adam Miklos, Miklos, Baker Hughes, Olivier Le Peuch, Alessandro Bresciani, Jeff Gustavson, Gustavson, steelmaker Nucor, Linde, Dan Ammann, Ammann, Fatih Birol, We're, SLB's Majkut Organizations: Chevron, Houston Chronicle, Hearst Newspapers, Department of Energy, RTI International, International Energy Agency, Exxon, Rystad Energy, Clean Investment Monitor, United Nations ., Gulf Coast, CF Industries, Talos Energy, Carbonvert, IEA Locations: Winnie, Mississippi, Vicksburg, Schlumberger, United States, Paris, Chevron, United Kingdom, U.S, Aker, Norway, Houston, Port Arthur , Texas, Gulf, Louisiana, Beaumont , Texas, Mississippi , Louisiana, Texas, Bayou, Port Arthur
Valentino Enters Its Alessandro Michele Era
  + stars: | 2024-03-28 | by ( Vanessa Friedman | ) www.nytimes.com   time to read: +1 min
The song has stopped in at least one game of fashion musical chairs. Valentino has a new creative director: Alessandro Michele, the former Gucci designer who left that brand in 2022. Mr. Michele, who was known for having transformed Gucci into a $10 billion powerhouse by making it a baroque treasure chest of inclusivity and magpie references, replaces Pierpaolo Piccioli, who parted ways with Valentino last week. The appointment, which was first reported by Vogue Business, brings Mr. Michele, 51, back to the heart of the fashion world. “It is a great honor for me to be welcomed in the Maison Valentino,” Mr. Michele wrote in the caption of an Instagram post shared on Thursday.
Persons: Valentino, Alessandro Michele, Gucci, Michele, Piccioli, Jared Leto, Harry Styles, Dakota Johnson, Maison Valentino, ” Mr, , Organizations: Vogue Business
Georgia lawmakers voted on Thursday to tighten the state’s already strict immigration laws in response to the killing of Laken Riley, a 22-year-old nursing student, whose death became ensnared in the broader fight over immigration policy after a man from Venezuela who entered the country illegally was charged with her murder. In the frenzied final hours of the legislative session, the state’s House of Representatives gave final approval to a measure that would require local law enforcement agencies to scrutinize the immigration status of people in their custody and to cooperate with federal immigration authorities. The legislation was the result of a vow from Republican lawmakers to crack down after Ms. Riley’s body was found last month in a wooded area on the University of Georgia campus in Athens. Her death rattled the community that is the home of the state’s flagship university, roughly 70 miles from Atlanta. The case quickly reverberated beyond Georgia, with Republicans arguing that her killing exemplified a failure by President Biden to adequately respond to an influx of migrants.
Persons: Laken Riley, Biden Organizations: University of Georgia Locations: Georgia, Venezuela, Athens, Atlanta
So were the page-long passages and the pressure to speed-read them. Optional, and only for taking notes. On Saturday, students in America took the newest version of the SAT, which was shorter, faster — and most notably, all online. Some exams were briefly mired by technical glitches, but even so, many test takers had positive views about the new format. “It’s here to stay,” said Harvey Joiner, 17, a junior at Maynard H. Jackson High School in Atlanta, referring to the digital format.
Persons: , , Harvey Joiner, Maynard H Organizations: Jackson High School Locations: America, Atlanta
New York CNN —Wall Street was taken aback by the US labor market’s resilience in January. Another unexpectedly hot report could shake things up again. The January jobs report showed that the US economy added a stunning 353,000 jobs that month and the unemployment rate stayed at 3.7%. The new EU regulations force sweeping changes on some of the world’s most widely used tech products, including Apple’s app store, Google search and messaging platforms, including Meta’s WhatsApp. The broad obligations apply only to the EU, which could leave tech users in the United States and other markets looking longingly at some of the features Big Tech is rolling out in response to the European directive.
Persons: Jerome Powell, he’s, , ” Powell, Bonnie Cash, , ’ ”, BeiChen Lin, It’s, Loretta Mester, , José Torres, Meta’s, Brian Fung, Apple, Bing, Read, Elisabeth Buchwald, NYCB, Steven Mnuchin’s, Alessandro DiNello, ” Read Organizations: CNN Business, Bell, New York CNN, Federal, Financial, Capitol, Reuters, Traders, Russell Investments, ” Cleveland Federal, CNBC, Market, Interactive Brokers, Apple, Google, Union citizens, Big Tech, New York Community Bank, Silicon Valley Bank, Liberty Strategic Capital Locations: New York, Washington ,, United States, NYCB, Silicon
New York CNN —Customers of New York Community Bank (NYCB) pulled $6 billion worth of deposits between February 5 and March 5, leaving the bank’s deposit base 7% lower, at $77 billion. However, the pattern is not indicative of a bank run, which these days can drain a lender of funds in mere hours. Shortly ahead of its demise, depositors at Silicon Valley Bank tried withdrawing $42 billion in one day over fears they wouldn’t be able to access their funds if the bank failed. On Thursday’s call, NYCB also announced it’s slashing its dividend to one penny a share. Increasing both means the bank has fewer funds available to lend, which as a result would limit its profitability.
Persons: NYCB, Steven Mnuchin’s, Alessandro DiNello, , ” DiNello Organizations: New, New York CNN, New York Community Bank, Silicon Valley Bank, Liberty Strategic Capital, NYCB, Wall, Moody’s Investors Service, Fitch Locations: New York, Silicon
New York CNN —Nvidia isn’t the only stock capturing the attention of AI enthusiasts these days. Nvidia closed above a $2 trillion market cap on March 1, joining an elite cohort including Apple and Microsoft. Supermicro’s stock gained even more momentum in January, after the company reported second-quarter results that blew past expectations and raised its full-year revenue forecast. Supermicro’s stock was one of the most popular names bought by Charles Schwab clients in February, according to the firm’s latest trading activity index. New York Community Bank gets $1 billion ‘lifeline’Beleaguered regional lender New York Community Bank is receiving a more than $1 billion equity investment, reports my colleague Elisabeth Buchwald.
Persons: Charles Schwab, ChatGPT, , , Supermicro, Wells Fargo, Goldman Sachs, Elisabeth Buchwald, Steven Mnuchin’s, NYCB, ” David Chiaverini, Joseph Otting, Alessandro DiNello, DiNello, Read, Jeremy Hunt, Hanna Ziady, Hunt, ” Hunt, Rishi Sunak’s Organizations: CNN Business, Bell, New York CNN, Nvidia, Apple, Microsoft, Micro, Devices, Federal Reserve, Victoria Bills, Banrion Capital Management, Bank of America, Goldman, New York Community Bank, New, Community Bank, Liberty Strategic Capital, Citadel Global, Street Journal, Wedbush Securities, CNN, Bank of England, International Monetary Fund, Hunt’s Conservative Party, Labour Party Locations: New York, San Jose, United States, Hudson Bay, NYCB
Read previewNetflix's latest biopic "Supersex" is a fictional re-telling of the life of Italian porn star Rocco Siffredi. Siffredi, whose real name is Rocco Antonio Tano, told The Independent that the new series is roughly 70% accurate. AdvertisementAlthough Siffredi is still alive, the series ends with his first retirement from the porn industry in 2004. Lorenzo Tano, Rocco Siffredi, Rosa Caracciolo and Leonardo Tano attend the red carpet for the screening of "Supersex" at Berlinale 2024 on February 22, 2024 in Berlin. Rocco Siffredi attends the Premiere of "Rocco."
Persons: , Rocco Siffredi, Siffredi, Rocco Antonio Tano, Rosa Caracciolo, Ernesto Ruscio, Alessandro Borghi, Rosza Tassi, Tassi, Rosza, Lorenzo, Leonardo, Leonardo Tano, Lorenzo Tano, Andreas Rentz, I've, XBiz, Natale, Rocco, Pierre Suu Organizations: Service, Independent, Business, Cannes, Netflix, AVN, Academy, Venice Film, Daily Locations: Ortona, Italy, Paris, Hungarian, Cannes, France, Spanish, El, Budapest, Hungary, Berlin, Venice
Pascal Le Segretain/Getty ImagesEqually at Rabanne, tartan blazers were given a grungier edge with leather-trimmed sleeves and fasteners. The rise of ‘Les People’Traditionally, showing interest in celebrities (“Les people” in Parisian slang) was a big no-no amongst the proudly snobby French fashion press. For busy women, multitasking women, women who can. Pascal Le Segretain/Getty ImagesStockman-style coats in colored, patent and soft leather were everywhere at Chloé, as were thigh-high boots and wafting, chiffon dresses. Pascal Le Segretain/Getty ImagesTraditional preppy skirt suits were given an edge with "Miss Dior" emblazoned in a graffiti style scrawling.
Persons: Saint Laurent, , Wim Wenders, , ” Balmain’s, Ester Manas, Nina Ricci, Kate Moss, Denise Ohnona, Serre, Arnel Dela, Alessandro Vigilante, , Coco, Kroes, Pascal Le Segretain, Chemena, Sienna Miller, Gaby Aghion, preppy Kristin Scott Thomas, Miu Miu, Farida Khelfa, Carine, Julia Roitfeld, Victoria Beckham, Anna, Pat Cleveland, Jerry Hall, Georgia Jagger, Kiernan Shipka, Georgia May Jagger, Julien de Rosa, ’ ’, Charles de Vilmorin, Aldama, Loewe, Dior ” —, Jackie O, Salma Hayek, Kim Kardashian, Naomi Campbell, Penelope Cruz, Hari Nef, Emily Ratajkowski, Victor Aubry, Sipa, JM Haedrich, Alexandre Maras, Louise Trotter, Sophie Abriat, Valentino, Givenchy, Laurent, Demna, BFRND, scupltor, Jaanisoo, Rémy Brière, Nicolas Di Felice, Louis Sullivan, Justin Shin, McQueen, Seán, Ib Kamara’s, Nicolas Ghesquière, Louis Vuitton, Stockman, Jonas Gustavsson, Coco Chanel, Casey Cadwallader's, Albert York, Dior, Victor Virgile, Kristin Scott Thomas, Miu, Olivier Rousteing, Ik Aldama, Chloe —, Miller's, Arnold Jerocki, Filippo Fior, Gonzalo Fuentes, Thierry Chesnot, Ester Manas's Organizations: CNN, Paris, Paris CNN —, Eiffel, Saint Laurent Museum, Chloé, Victoria, Getty, Loewe, Dior, Monde, Saint Laurent, The Washington Post Locations: Paris, Trocadero, British, Deauville, Normandy, Mugler, Chloé, Georgia, AFP, Balenciaga, Chanel, Estonian, Courrèges, Dior
New York CNN —Shares of New York Community Bank (NYCB) plunged more than 40% Wednesday afternoon after The Wall Street Journal reported that the beleaguered regional lender is seeking a major cash infusion. Then last week, the bank said in a filing it had identified “material weakness” in the company’s controls. The issues caused a $2.4 billion loss to shareholders last quarter, NYCB said. The delay draws eerie parallels to First Republic Bank, which postponed reporting its quarterly earnings shortly before it failed last year. First Republic Bank similarly needed an emergency cash infusions not long before it collapsed.
Persons: NYCB, NYCB didn’t, Alessandro DiNello Organizations: New, New York CNN, New York Community Bank, Street Journal, , First Republic Bank, US Treasury Department Locations: New York
Reuters and the Wall Street Journal reported Wednesday that the bank was looking to outside investors for cash to shore up its balance sheet. fell more than 40% on Wednesday amid reports that the regional bank is seeking a cash infusion. A cash infusion would be the latest development in a turbulent start to the year for NYCB. The bank disclosed in late January that it was dramatically raising the allowance for potential loan losses on its balance sheet. The questions surrounding NYCB are reminiscent of those that swirled around Silicon Valley Bank, Signature Bank and First Republic before all three failed in the spring of 2023.
Persons: Alessandro DiNello, NYCB, DiNello Organizations: Reuters, Wall Street, CNBC, New York Community Bancorp, NYCB, Moody's, Silicon Valley Bank, Signature Bank, First Locations: Silicon, NYCB
You're going to go on these trips. You're going to enjoy them, you're going to go on the school ones, you're going to go on the vacation ones.'" Milan may be fast-paced by Italian standards, but it's much slower than NYCAccording to Monto, Milan is considered Italy's "hectic" city. Milan, Italy. "It seemed like my generation and, honestly, maybe even some of the millennials, are more awakened to the idea that not everything has to revolve around work," Monto said.
Persons: , wasn't, Monto, Alessandro, Numbeo, Italy Monto, didn't, It's, they're, Gary Yeowell, aren't, Zer Organizations: Service, Business, New, Yorker Locations: New York City, San Diego, Italy, New York, Milan, France, Monto, Italian
NYCB stock tumbles to lowest level since 1996
  + stars: | 2024-03-04 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +2 min
New York CNN —Shares of New York Community Bank (NYCB) fell 23% Monday, hitting their lowest level since 1996. The issues caused a $2.4 billion loss to shareholders last quarter, NYCB said. That caused the stock to plunge, bringing it to its lowest level since 1997. NYCB’s troubles are having a mixed effect on other regional bank stocks. Shares of Valley National Bank (VLY) closed 5.6% lower on Monday, while Zions Bancorporation (ZION) closed 1% higher.
Persons: NYCB, Alessandro DiNello, Zions Organizations: New, New York CNN, New York Community Bank, Fitch, Moody’s Investors Service, First Republic Bank, Silicon Valley Bank, Signature Bank, National Bank Locations: New York, Silicon, NYCB, ZION
Bianca was in the harbor of Riomaggiore, the southernmost of the five picturesque fishing villages that make up the Italian Cinque Terre region. “Then, three days before I was leaving to go home, my friend said, ‘Let’s go to the Cinque Terre. After three days with Alessandro, Bianca didn’t want to leave, but she figured she had no choice. She fed me, of course.”Alessandro also took Bianca on the back of his scooter for hilltop rides around the Cinque Terre. The couple would take their daughter along too, and spend time with their Italian family.
Persons: Bianca Gignac, Bianca, ” Bianca, It’s, she’d, Florence –, , , ‘ Let’s, , Alessandro Morelli, ” Alessandro, , Alessandro, I’d, Bianca –, Artie, “ I’m, skeptically, let’s, She’d, Bianca Gignac Bianca, Bianca didn’t, “ Bianca, don’t, Paola, ‘ I’m, they’d, “ I’ve, I’m, ’ ” Bianca, Riomaggiore –, Alessandro’s, Italy Bianca, ” “ Patience, Bianca’s, ’ ”, Stefano Butturini Bianca, – we’re, ‘ Don’t, we’ve, “ She’s, Italy –, “ It’s, we’re Organizations: CNN, CNN Travel, Italian Cultural Institute of Vancouver, Terre, La Spezia, Getty Locations: Riomaggiore, Italian, Terre, Canadian, Italy, Europe, Florence, La, Cinque Terre, Rome, Canada, Terre wasn’t, La Spezia, Vancouver, Bianca’s, Costa Rica, Bianca
A New York bank is under severe pressure Friday close to one year after absorbing a large chunk of another bank 30 miles away that had failed. That pressure has been compounded at the Hicksville, New York, bank because it grew massively almost overnight after absorbing the failed Signature Bank. That put New York Community Bancorp at a new level that requires higher regulatory scrutiny, a transition that has been rocky. One of those failed banks, Signature, was acquired by New York Community Bancorp, pushing it above $100 billion in assets, which by law puts it under more scrutiny from regulators. DiNello was CEO of Flagstar Bank, which New York Community Bancorp acquired in late 2022.
Persons: Thomas Cangemi, , Joe Biden, ” Citi’s Keith Horowitz, Horowitz, Cangemi, Alessandro DiNello, DiNello Organizations: New York Community Bancorp, Moody’s, U.S . Securities, Exchange Commission, Bank, Industry, Flagstar Bank, New, Community Bancorp Locations: York, New, , New York
Mike Segar | ReutersRegional lender New York Community Bank finds itself in an apparently worsening predicament just as the anniversary of last year's banking turmoil nears. "The disclosures add to our concern about NYCB's interest-only multi-family portfolio, which may require a long workout period unless interest rates decline." Days later, ratings agency Moody's cut the bank's credit ratings two notches to junk on concerns over the bank's risk management capabilities after the departure of NYCB's chief risk officer and chief audit executive. The bank's stock was briefly buoyed by a flurry of insider purchases indicating executives' confidence in the bank. Most of those deposits were insured, and it had ample resources to tap if uninsured deposits left the bank, it said.
Persons: Mike Segar, NYCB, Raymond James, Steve Moss, Moody's, Alessandro DiNello, DiNello, D.A, Davidson, Peter Winter Organizations: New York Community Bank, Reuters Regional, New, Community Bank, Silicon Valley Bank, Signature Bank Locations: Yonkers , New York, U.S, NYCB
The turmoil at New York Community Bancorp continued Thursday with a string of announcements that sent shares down over 20%. It appointed a new CEO and disclosed "material weaknesses" relating to how it reviews loans. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe turmoil at New York Community Bancorp, or NYCB, is getting worse. More worryingly, it added in regulatory filings that its management "identified material weaknesses in the Company's internal controls related to internal loan review."
Persons: , NYCB, Alessandro DiNello, Thomas Cangemi Organizations: New York Community Bancorp, NYCB, Signature Bank, Service, Business
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