Jonathan Wong
The Latest
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JPMorgan Acquires Majority of First Republic Bank's Assets for $10.6 Billion
JPMorgan Chase & Co (JPM.N) announced on Monday that it will purchase the majority of First Republic Bank's (FRC.N) assets for $10.6 billion after the troubled lender was seized by regulators over the weekend. This marks the third major U.S. bank failure in two months and the largest since Washington Mutual in 2008. 
JPMorgan Chase & Co (JPM.N) announced on Monday that it will purchase the majority of First Republic Bank's (FRC.N) assets for $10.6 billion after the troubled lender was seized by regulators over the weekend. This marks the third major U.S. bank failure in two months and the largest since Washington Mutual in 2008. -
US Seizes Iranian Oil Cargo, Prompting Retaliatory Action Amid Growing Tensions
In a recent move to enforce sanctions, the US seized Iranian oil from a tanker at sea, according to three sources. In retaliation, Iran confiscated another oil-laden tanker just days later, as reported by maritime security firm Ambrey. This latest incident has heightened the ongoing tensions between Washington and Tehran, which stem from US sanctions imposed due to Iran's nuclear program. 
In a recent move to enforce sanctions, the US seized Iranian oil from a tanker at sea, according to three sources. In retaliation, Iran confiscated another oil-laden tanker just days later, as reported by maritime security firm Ambrey. This latest incident has heightened the ongoing tensions between Washington and Tehran, which stem from US sanctions imposed due to Iran's nuclear program. -
Texas Tragedy: Five Killed, Including Child, in Shooting Rampage by Armed Suspect
A deadly shooting in southeast Texas has left five people dead, including an 8-year-old, after an alleged drunk man opened fire with an AR-15 style rifle, according to authorities. The incident took place late Friday night when the San Jacinto County Sheriff's Office received a call about a harassment situation in Cleveland, Texas, as reported by ABC News. 
A deadly shooting in southeast Texas has left five people dead, including an 8-year-old, after an alleged drunk man opened fire with an AR-15 style rifle, according to authorities. The incident took place late Friday night when the San Jacinto County Sheriff's Office received a call about a harassment situation in Cleveland, Texas, as reported by ABC News. -
First Republic Bank Nears Receivership as FDIC Steps In
First Republic Bank (FRC.N) is on the brink of being placed under receivership by the U.S. Federal Deposit Insurance Corporation (FDIC), causing shares of the lender to plummet almost 50% in extended trading, according to an anonymous source familiar with the matter. 
First Republic Bank (FRC.N) is on the brink of being placed under receivership by the U.S. Federal Deposit Insurance Corporation (FDIC), causing shares of the lender to plummet almost 50% in extended trading, according to an anonymous source familiar with the matter. -
First Republic's Stock Plummets Amid Possible FDIC Receivership
First Republic Bank (FRC.N) saw its shares plummet following a CNBC report suggesting that the bank is likely to face receivership under the U.S. Federal Deposit Insurance Corporation (FDIC). This development has intensified a stock decline that has already erased 75% of the bank's value this week. 
First Republic Bank (FRC.N) saw its shares plummet following a CNBC report suggesting that the bank is likely to face receivership under the U.S. Federal Deposit Insurance Corporation (FDIC). This development has intensified a stock decline that has already erased 75% of the bank's value this week. -
U.S. Core PCE Inflation Remains Stubborn at 4.6% in March
Stubborn inflation persists as U.S. core PCE for March comes in line with expectations, indicating that the issue is not easing. 
Stubborn inflation persists as U.S. core PCE for March comes in line with expectations, indicating that the issue is not easing. -
US Dollar Gains as Inflation Data Supports Fed Rate Hike Expectations
The U.S. dollar strengthened on Friday after inflation data for March revealed growth, albeit at a slower pace, bolstering expectations that the Federal Reserve will increase interest rates at its upcoming monetary policy meeting next week. 
The U.S. dollar strengthened on Friday after inflation data for March revealed growth, albeit at a slower pace, bolstering expectations that the Federal Reserve will increase interest rates at its upcoming monetary policy meeting next week. -
Iran Detains Marshall Islands-Flagged Oil Tanker in Gulf of Oman, US Navy Reports
The US Navy confirmed that Iran seized a Marshall Islands-flagged oil tanker, the Advantage Sweet, in international waters in the Gulf of Oman on Thursday. This event marks the latest in a series of seizures or attacks on commercial vessels in the Gulf since 2019. 
The US Navy confirmed that Iran seized a Marshall Islands-flagged oil tanker, the Advantage Sweet, in international waters in the Gulf of Oman on Thursday. This event marks the latest in a series of seizures or attacks on commercial vessels in the Gulf since 2019. -
US Economy Maintains Growth in Q1, Consumer Spending Fuels Expansion
The US economy maintained steady growth in the first quarter of the year, primarily driven by robust consumer spending. However, the momentum seems to have slowed down recently as the impact of higher interest rates takes hold. The Commerce Department's forthcoming GDP report is expected to reveal that the economy is not near a recession, but the landscape has transformed significantly. 
The US economy maintained steady growth in the first quarter of the year, primarily driven by robust consumer spending. However, the momentum seems to have slowed down recently as the impact of higher interest rates takes hold. The Commerce Department's forthcoming GDP report is expected to reveal that the economy is not near a recession, but the landscape has transformed significantly. -
US-South Korea Nuclear Cooperation Intensifies to Counter North Korean Threat
The United States pledged on Wednesday to provide South Korea with greater access to its nuclear planning in case of a conflict with North Korea, in response to concerns over Pyongyang's expanding missile and bomb arsenal. 
The United States pledged on Wednesday to provide South Korea with greater access to its nuclear planning in case of a conflict with North Korea, in response to concerns over Pyongyang's expanding missile and bomb arsenal.
