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Depositors had pulled $100 billion from accounts at the bank in the panic triggered by the SVB and Signature failures, imperiling its survival. Both SVB and Signature failed last month. Both SVB and Signature grew quickly in recent years, outpacing the ability of regulators to keep up, especially with shrinking resources. Regulators closed Signature two days after SVB was shuttered. Signature lost 20% of its total deposits in a matter of hours on the day that SVB failed, FDIC Chair Martin Gruenberg has said.

Both SVB and Signature failed last month. Regulators shut SVB on March 10, a day after customers withdrew $42 billion and queued requests for another $100 billion the following morning. Both SVB and Signature grew quickly in recent years, outpacing the ability of regulators to keep up, especially with shrinking resources. Regulators closed Signature two days after SVB was shuttered. Signature lost 20% of its total deposits in a matter of hours on the day that SVB failed, FDIC Chair Martin Gruenberg has said.

In what Fed Vice Chair for Supervision Michael Barr called an "unflinching" review of the U.S. central bank's supervision of SVB, the Fed said its oversight of the Santa Clara, California-based bank proved inadequate and that regulatory standards were too low. At the time of its failure, SVB had 31 unaddressed citations on its safety and soundness, triple what its peers in the banking sector had, the report said. Barr said as a consequence of the failure, the central bank will reexamine how it supervises and regulates liquidity risk, beginning with the risks of uninsured deposits. "Contagion from the failure of SVB threatened the ability of a broader range of banks to provide financial services and access to credit for individuals, families, and businesses," Barr said. The Fed is looking at linking executive compensation to fixing problems at banks designated as deficient on management so as to focus executives' attention on those problems, a senior Fed official said in a briefing.

The staff at the hospital have been working around the clock since the fighting started in Sudan. “The biggest challenge facing medical staff trying to reach hospitals is the lack of safe passages. One video shows a doctor stitching a wound cutting through the calf of a woman. In another, the medical staff are slumped over a patient with a gaping wound in the upper thigh. “Hospitals of Sudan are under fire, medical supplies have almost run out, medical staff is exhausted.

Signature Bank's failure took only marginally longer. "The number 36 has just been, you know, branded in my brain," Atlanta Fed President Raphael Bostic told Reuters earlier this month. "I think that any time you have a bank failure like this, bank management clearly failed, supervisors failed and our regulatory system failed," Barr told U.S. lawmakers in a hearing in March. "It's how do we allow a bank whose failure threatened the financial system to persist without being subject to more aggressive intervention?" "One thing for certain ... this was a very significant supervisory failure," Tarullo said at the Peterson Institute for International Economics event on Wednesday.

[1/4] A view of the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. FDIC regulators had raised the specter of systemic risk from the failure of large regional banks months before the SVB and Signature Bank collapses, records reviewed by Reuters show. SECRETS REVEALEDThe Fed will release its report on SVB at 11 a.m. EDT (1500 GMT) on Friday. FDIC Chair Martin Gruenberg has not provided much detail about the supervision of Signature, which like SVB had grown rapidly in recent years. The Fed's inspector general will have a report on each bank in the third quarter.

Apple mainly assembles iPhones in India through Taiwan contract manufacturers but plans to expand into iPads and AirPods, as it looks to cut reliance on China. His comments came after a meeting on Wednesday with Apple Chief Executive Tim Cook in the capital, New Delhi. He inaugurated an Apple store in New Delhi on Thursday two days after opening its first outlet in Mumbai, the commercial capital. "We've come here only to see Tim Cook," said Manika Mehta, 32, an Android phone user who queued at the Delhi store. I'm drawn to Tim Cook, seeing the man he is and the journey."

"The hospitals now serving the wounded are so few, with limited number of doctors, so there's overcrowding of wounded," said Esraa Abou Shama, a doctor at Sudan's health ministry. Over four days of fighting nine hospitals in Sudan have been hit by artillery and 16 forcibly evacuated, the Sudanese Doctors' Union said, with none still providing a full service inside the capital. His hospital's water and cooking gas tanks have been hit, many staff fled, and diesel fuel for the power generator is almost exhausted, he said. Staff cannot access the morgue because of the fighting, so dead bodies are stored in rooms with air conditioning turned up. "We all have the same problems - electricity, water, staff.

MUMBAI, April 18 (Reuters) - About 300 people queued at Apple's (AAPL.O) store in Mumbai on Tuesday, as fans took selfies with Chief Executive Tim Cook, who inaugurated the first retail store run by the tech giant in India, underscoring the importance of its market. "We are so excited to open ... our first store in India." People flocked to the store from across India, hoping to be among the first to enter, in an opening event featuring local music and folk dancers. Some queued outside from the previous night to get their hands on Apple products, even though they are available online in India. [1/8] Apple CEO Tim Cook interacts with people as Deirdre O'Brien, Apple's senior vice president of Retail and People looks on, during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023.

☆ Cuba's fuel shortages due to supplier nations not delivering, says president
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] People wait in line for the arrival of a fuel tank truck in Havana, Cuba, April 14, 2023. REUTERS/Alexandre MeneghiniHAVANA, April 14 (Reuters) - Cuba's President Miguel Diaz-Canel said the island's ongoing gasoline shortages were caused by countries contracted to supply the fuel not complying with their requirements due to "a complex energy situation." Besides car owners, truckers, taxi drivers, tourists and public transport have all been hit by the shortages. Diaz-Canel underlined that the shortages were a result of "non-compliance" from the supplier nations, rather than inefficiencies or issues within the country's energy institutions. Venezuela, one of Havana's political allies, has for decades supplied Cuba with oil from its state oil firm PDVSA under a cooperation agreement signed in 2000.

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☆ Road block burns in French pension protests
▼ + stars: | 2023-03-23 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsRoad block burns in French pension protestsPostedDumpsters burned in the middle of a French road on Thursday (March 23) as protesters entered the ninth day of strikes against a deeply unpopular bill to raise the pension age. Video posted to social media showed the burning makeshift roadblock in Toulouse emitting a large plume of smoke while cars queued up behind it.

☆ Ukraine war: Russia tightens ties with China as West offers $16 bln lifeline to Kyiv
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +5 min

A joint statement included familiar accusations against the West - that the United States was undermining global stability and NATO barging into the Asia-Pacific region. Putin praised Xi for a peace plan for Ukraine that he proposed last month and blamed Kyiv and the West for rejecting it. But Xi, who was due to depart Moscow on Wednesday, barely mentioned the conflict, saying that China had an "impartial position" on it. The money would help shore up Ukraine, which has suffered extensive damage to its infrastructure and economy during Russia's year-long invasion. [1/16] Russian President Vladimir Putin and Chinese President Xi Jinping leave after a reception in honor of the Chinese leader's visit to Moscow, at the Kremlin in Moscow, Russia March 21, 2023.

☆ Ukraine 'Art Weapon' show draws crowds in Berlin
▼ + stars: | 2023-02-25 | by ( James Imam | ) www.reuters.com time to read: +2 min

[1/5] A person stands in front of a video installation at the Art Weapon Festival, which showcase contemporary Ukrainian culture and various performances, created during the Russian invasion of Ukraine at the "Alte Muenze" in Berlin, Germany February 25, 2023. REUTERS/Annegret HilseBERLIN, Feb 25 (Reuters) - In a converted former mint in Berlin on Saturday, crowds danced in a blaze of strobe light as a rapper hollered Ukrainian lyrics to punchy beats. The 'Art Weapon' event - which opened at Berlin's sprawling Alte Muenze complex on Saturday - also featured live painting by Ukrainian artists, Ukrainian-language theatre and the chance to sit for a Ukrainian tattoo artist. He decided to apply for funding through a German organisation supporting cultural initiatives, allowing him to organise "Art Weapon" in Berlin. "The invasion has definitely changed art in Ukraine," he added.

☆ Coffee trumps economic crisis as Tim Hortons opens in Pakistan
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

LAHORE, Pakistan Feb 14 (Reuters) - Pakistanis are queuing for hours to grab coffee and pastries from Canadian chain Tim Hortons, which opened its first outlet in the South Asian country this week just as its economic crisis took a turn for the worse. Tim Hortons is owned by Restaurant Brands International Inc (RBI) (QSR.TO), , a Toronto-based company that also owns other fast food brands including Burger King and Popeyes. McDonald's (MCD.N), Retail Food Group (RFG.AX)-owned Gloria Jean's Coffee and Yum Brands Inc (YUM.N)-owned Pizza Hut are among the international brands with outlets in Pakistan. Tim Hortons is set to open another two outlets in Lahore, RBI said in a statement. For students such as Pareeshay Khan, the brand's social media traction trumps the cost of the coffee.

☆ A Mexico soccer icon entered politics. Prosecutors say narcos followed
▼ + stars: | 2023-02-03 | by ( Cuernavaca | ) www.reuters.com time to read: +27 min

Regional politicians, officials and military officers gathered in the Morelos state capital of Cuernavaca for breakfast in February 2022 to mark Mexico’s annual Army day. Mexican drug lords have a long tradition of buying off politicians in exchange for government protection of their illicit trade. Attempts to reach two of the alleged drug traffickers in the photo – Figueroa and Irving Solano Vera – were unsuccessful. Prosecutors in April asked the Morelos state congress to impeach Blanco so that he could be stripped of that shield. “He likes me very much because I’m not a politician,” Blanco told Reuters, in reference to the president.

REUTERS/StringerLONDON, Jan 24 (Reuters) - China’s exports of refined petroleum products, especially diesel, surged in the final two months of 2022, relieving some of the global shortage caused by unusually low exports since the middle of 2021. China’s exports were below normal for 16 months from July 2021 through October 2022 with a cumulative shortfall relative to the previous trend of 21 million tonnes or 167 million barrels. The downturn was concentrated in diesel with a cumulative shortfall of around 17 million tonnes or 128 million barrels (“Monthly bulletin”, GAC, January 18). Diesel exports accelerated to a near-record 2.8 million tonnes in December, from just 1.1 million tonnes in October, narrowing the deficit since mid-2021 to less than 16 million tonnes or 117 million barrels. Related columns:- China’s diesel exports recover but not enough to reverse global shortage (Reuters, November 9)- Diesel’s gloomy message for the global economy (Reuters, October 14)John Kemp is a Reuters market analyst.

☆ Europe's royals, in Athens, bids farewell to Greece's last king
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +3 min

[1/7] A person holds a flag as people queue to pay respects to former King of Greece Constantine II at Saint Eleftherios chapel, where he lies at rest before the funeral service, in Athens, Greece, January 16, 2023. REUTERS/Louiza VradiATHENS, Jan 16 (Reuters) - European royalty gathered in Athens on Monday for the funeral of former King Constantine of Greece, born a prince but spurned by his country which abolished the monarchy in 1974. He died at the age of 82 last week in an Athens hospital. Royals from Europe, including Britain's Princess Anne, sister of King Charles, and her husband and Spain's King Felipe and Queen Letizia, were expected to attend the funeral, at the Metropolitan Cathedral in central Athens, under tight security. In a referendum after the fall of the junta in 1974, Greece rejected monarchy again.

☆ At 3 a.m., Mourners Were Still Waiting Hours to See Pelé
▼ + stars: | 2023-01-03 | by ( Jack Nicas | Dado Galdieri | ) www.nytimes.com time to read: +1 min

The streets were empty, the shops were closed and a dog howled in the distance. Then, a few blocks from the soccer stadium that put this port city on the map, there were signs of life. The soccer star Pelé’s 24-hour wake was in its 17th hour, and by the looks of the crowd, one day might not have been enough. The Santos soccer club estimated that 230,000 mourners had been through the stadium. “This is no sacrifice,” said Walter Henrique, 35, a tax analyst who traveled three hours to the wake and had to be at work in five hours, yet had another few hours before he would be through the line.

☆ Chinese state media seek to reassure public over COVID-19
▼ + stars: | 2023-01-01 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +4 min

WUHAN, Jan 1 (Reuters) - Thousands of Chinese took to the streets to mark the New Year as authorities and state media sought to reassure the public that the COVID-19 outbreak sweeping across the country was under control and nearing its peak. China reported one new COVID-19 death in the mainland for Dec. 31, the same as a day earlier, the Chinese Center for Disease Control and Prevention said on Sunday. State media in the city of Guangzhou in southeastern China said on Sunday that daily cases peaked at around 60,000 recently, and now stand at around 19,000. On Sunday, Australia and Canada joined the United States and others in requiring travellers from China to provide negative COVID-19 tests when they arrive. Taiwan President Tsai Ing-wen offered on Sunday to provide China with "necessary assistance" to help it deal with the surge in COVID-19 cases.

☆ Chinese state media seek to reassure public over Covid-19
▼ + stars: | 2023-01-01 | by ( ) www.cnbc.com time to read: +1 min

Revelers prepare to release balloons to celebrate the New Year on pedestrian street Jianghan Road on December 31, 2022 in Wuhan, China. Thousands of Chinese took to the streets to mark the New Year as authorities and state media sought to reassure the public that the Covid-19 outbreak sweeping across the country was under control and nearing its peak. "Basically, now my friends and I feel relatively positive and optimistic," said a 29-year old tutor surnamed Wu. "We all know that especially for the middle-aged and the elderly, especially those over 60 years old, especially those with underlying diseases, they will be affected by this virus," he said. I had X-rays to check my lungs… This hospital is a lot of trouble, you have to wait a long time," she said.

☆ Rituals for Benedict's passing could be template for future ex popes
▼ + stars: | 2022-12-30 | by ( Philip Pullella | ) www.reuters.com time to read: +4 min

[1/2] Emeritus Pope Benedict XVI waves as he arrives to attend a mass for the beatification of former pope Paul VI in St. Peter's square at the Vatican October 19, 2014. The Vatican has painstakingly elaborate rituals for what happens after a reigning pope dies but no publicly known ones for a former pope. They could be a template for other popes who choose to resign instead of ruling for life, including Pope Francis himself someday, Vatican sources say. The last pope to die, John Paul II, was buried on April 8, 2005, six days after he died. Benedict, as Cardinal Joseph Ratzinger, presided at John Paul's funeral in 2005 in St. Peter's Square and Francis is expected to preside at Benedict's.

Dec 21 (Reuters) - China may be struggling to keep a tally of COVID-19 infections as the country experiences a big spike in cases, a senior World Health Organization official said on Wednesday, amid concerns about a lack of data from the country. "In China, what's been reported is relatively low numbers of cases in ICUs, but anecdotally ICUs are filling up," WHO's emergencies director Mike Ryan said. "I wouldn't like to say that China is actively not telling us what's going on. REUTERS/Denis BalibouseThe WHO said it was ready to work with China to improve the way the country collects data around critical factors such as hospitalisation and death. China has nine domestically developed COVID-19 vaccines approved for use, more than any other country, but they have not been updated to target the highly infectious Omicron variant.

☆ India boosts facilities at Delhi airport to ease year-end travel congestion
▼ + stars: | 2022-12-15 | by ( Tanvi Mehta | ) www.reuters.com time to read: +2 min

Passengers queued for hours to pass through check-in and security at the main domestic and international terminal of Indira Gandhi International Airport in Delhi, leading to some flight delays. "In the last 24 to 36 hours, all agencies have swung into action to mitigate congestion at every checkpoint at all major airports. Congestion at entry points and check-in counters at T3 has eased," Scindia said in a post on LinkedIn. Like in other countries, air travel in India has picked up as COVID-19 restrictions have eased. The congestion at Delhi airport prompted India's biggest airline IndiGo (INGL.NS) to ask passengers to arrive at Delhi airport for check-in at least 3-1/2 hours before their flight, instead of the usual two hours.

[1/4] Women wearing face masks and face shields talk on a street, as coronavirus disease (COVID-19) outbreaks continue in Shanghai, China, December 12, 2022. Reuters witnessed similar queues outside clinics in the central city of Wuhan, where COVID-19 first emerged three years ago. But the figures reflect the dropping of testing requirements, say analysts, while Chinese health expects have warned of an imminent surge. Yet China is pushing ahead with efforts to free up nationwide travel, even if foreign trips may still be a while off. The number of domestic flights available across China exceeded 7,400, nearly double from a week ago, flight tracker app VariFlight showed.

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