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☆ Environmental groups sue U.S. over SpaceX launch license for Texas
▼ + stars: | 2023-05-01 | by ( Steve Gorman | ) www.reuters.com time to read: +4 min

May 1, (Reuters) - Conservation groups sued the Federal Aviation Administration on Monday, challenging its approval of expanded rocket launch operations by Elon Musk's SpaceX next to a national wildlife refuge in South Texas without requiring greater environmental study. SpaceX had vigorously opposed subjecting its Starbase to an EIS review, a process that typically takes years, even decades. The FAA granted its license following a far less thorough environmental assessment and a finding that SpaceX activities at Boca Chica pose "no significant impact" on the environment. The lawsuit challenges that finding as a violation of the National Environmental Policy Act. The lawsuit highlights a history of tension between environmentalists, who have sought to limit development at Boca Chica, and Musk, a hard-charging entrepreneur known for risk taking.

☆ First Citizens in advanced talks to buy Silicon Valley Bank
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

March 26 (Reuters) - First Citizens BancShares Inc (FCNCA.O) was in advanced talks to acquire Silicon Valley Bank (SIVB.O), a person familiar with the matter told Reuters on Sunday. First Citizens could reach a deal as soon as Sunday to acquire Silicon Valley Bank from the Federal Deposit Insurance Corp (FDIC), according to Bloomberg News, which first reported the development. The FDIC, which now controls the Silicon Valley Bank assets, and First Citizens did not immediately respond to Reuters requests for comment. It has since asked for separate offers for SVB Private and Silicon Valley Bank by March 24. Valley National Bancorp (VLY.O) was also a bidder for Silicon Valley Bank, according to a separate Bloomberg report on Saturday.

☆ Here’s why the U.S. had to sweeten terms to get the SVB sale done
▼ + stars: | 2023-03-27 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

First Citizens BancShares is acquiring $72 billion in SVB assets at a discount of $16.5 billion, or 23%, according to a Sunday release from the Federal Deposit Insurance Corporation. But even after the deal closes, the FDIC remains on the hook to dispose of the majority of remaining SVB assets, about $90 billion, which are being kept in receivership. All told, the SVB failure will cost the FDIC's Deposit Insurance Fund about $20 billion, the agency said. The deal terms may be explained by tepid interest in SVB assets, according to Mark Williams, a former Federal Reserve examiner who lectures on finance at Boston University. The ongoing sales process for First Republic may have cooled interest in SVB assets, according to a person with knowledge of the process.

☆ First Citizens just bought Silicon Valley Bank – here's everything you need to know about the latest twist in the banking turmoil
▼ + stars: | 2023-03-27 | by ( George Glover | ) www.businessinsider.com time to read: +6 min

First Citizens Bank agreed to buy most of Silicon Valley Bank on Sunday. The Raleigh, NC-based bank has taken over 17 branches of SVB, $119 billion of its deposits and $72 billion worth of loans. Here's everything you need to know about the latest twist in the US's regional banking turmoil. First Citizens Bank has agreed to buy SVB, according to a statement released on Sunday by the Federal Deposit Insurance Corporation. It'll also receive benefits tied to First Citizens' share price, which it estimated could be worth around $500 million.

☆ Valley National bidding for Silicon Valley Bank, Bloomberg reports
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +1 min

March 25 (Reuters) - Valley National Bancorp (VLY.O) is vying to buy Silicon Valley Bank (SIVB.O), Bloomberg News reported on Saturday. The regional bank has submitted a bid to the Federal Deposit Insurance Corp (FDIC), the report said, citing people familiar with the matter. Valley National Bancorp did not immediately respond to a request for comment. First Citizens BancShares Inc (FCNCA.O), one of the biggest buyers of failed U.S. lenders, has also submitted a bid for all of Silicon Valley Bank, a source told Reuters earlier this week. read moreAfter failing to sell SVB's private banking business alongside Silicon Valley Bank over the last two weeks, the FDIC has asked for separate offers for the bank and its private arm by March 24.

☆ Insiders in the banking sector scoop up shares during spreading crisis
▼ + stars: | 2023-03-22 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Insiders in the banking sector snapped up shares of their own companies in what could be a show of faith as the unfolding crisis sent stocks sharply lower. The collapse of Silicon Valley Bank, Signature Bank and Silvergate Capital prompted regulators to provide emergency rescue actions that calmed immediate funding concerns. Stephens Bank said about 40% of banks in its coverage have disclosed insider purchases since March 6. A total of 11 insiders at Valley National Bancorp bought shares in the past two weeks, including purchases by its CEO and several directors. PacWest shares have rebounded 9% this week, but are still down 63% this month.

☆ Insiders were stepping up and buying this week at these regional banks and niche financials
▼ + stars: | 2023-03-17 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The banking crisis drove regional bank stocks sharply lower this week, but many insiders took advantage of the turmoil to scoop up shares of their own institutions in what may prove a vote of confidence. Shares of regional banks slumped as the collapse of Silicon Valley Bank left investors worried that other regional banks might face similar balance sheet issues, a possible mismatch between long-dated assets and short-dated liabilities. Regional banks had regained some ground Thursday in anticipation of a group of 11 banks stepping in to First Republic by depositing $30 billion for at least 120 days . Charles Schwab Notably, Charles Schwab CEO Walt Bettinger bought 50,000 shares Tuesday, worth nearly $3 million, for his personal account. Valley National Bancorp Ira Robbins (CEO) bought 5,000 shares Wednesday Jennifer Steans (Director) bought 150,000 shares Tuesday Eric Edelstein (Director) bought 20,000 shares Tuesday Melissa Schultz (Director) bought 15,000 shares Tuesday Jeffrey Wilks (Director) bought 8,000 shares Tuesday Marc Lenner (Director) bought 5,000 shares Tuesday Suresh Sani (Director) bought 5,000 shares Tuesday Valley National Bancorp saw a rush of insider buying this week, including purchases by its CEO and several directors.

☆ Elderly couple found dead in Death Valley National Park in apparent murder-suicide
▼ + stars: | 2023-01-26 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +1 min

An elderly Las Vegas couple were found dead in California's Death Valley National Park in what authorities said Wednesday was a murder-suicide. He told the 911 operator where to find the couple, the park service said. The husband left a note in the couple's car explaining that his wife was suffering from chronic health issues, according to the National Park Service. Law enforcement officials from the Inyo County Sheriff’s Office, the Inyo County Coroner’s Office, the National Park Service, California Highway Patrol and the Bureau of Land Management responded to the incident. You can also call the National Suicide Prevention Lifeline at 800-273-8255, text HOME to 741741 or visit SpeakingOfSuicide.com/resources for additional resources.

☆ More than 300 people live year-round in Death Valley, one of the hottest places on Earth. Here's what it's like.
▼ + stars: | 2020-08-19 | by ( Susie Neilson | Azmi Haroun | ) www.businessinsider.com time to read: +8 min

It takes time to get used to the heatTaylor's first summer in Death Valley was "pretty hard," he said. The Death Valley community stays closeCow Creek, Timbisha Shoshone Village, and Stovepipe Wells, Death Valley's three main year-round communities, are remote: The nearest town is an hour's drive. Yes, Death Valley residents go running. Climate change is making life in Death Valley even tougherThe coronavirus pandemic has made it harder for the small group of Death Valley residents to gather, but they're staying in touch via technology like everyone else. In Death Valley, six of the 10 hottest months on record have occurred in the last 20 years.

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