The search for solutions is refocusing attention on a 2018 federal law that rolled back tough bank regulations put in place after the 2008-2009 financial crisis.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News, Uncategorized
Big banks create $30 billion rescue package for First Republic
Sources familiar with the matter said that JPMorgan Chase, Citigroup, Wells Fargo, and Goldman Sachs are part of the group of banks pulling together the package.
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Posted inBusiness, Nation & World, News
Treasury Secretary Yellen tells Congress U.S. banking system ‘remains sound’
In less than a week, Silicon Valley Bank, based in Santa Clara, California, failed after depositors rushed to withdraw money amid anxiety over the bank’s health.
Posted inArts & Entertainment, Business
T-Mobile acquires Mint, partly owned by Ryan Reynolds
The cash-and-stock deal worth as much as $1.35 billion.
Posted inBusiness, Nation & World, Sports
Bally Sports owner files for Chapter 11 bankruptcy
Diamond Sports Group owns 19 networks, which have the rights to 42 pro teams.
Posted inBusiness, Nation & World
EPA ‘good neighbor’ rule will cut downwind pollution by power plants
Nearly two dozen states will have to reduce industrial emissions to improve air quality for millions.
Posted inBusiness, Nation & World
Exiled Chinese tycoon arrested in $1 billion fraud conspiracy
Guo Wengui is charged in court papers in New York under the name Ho Wan Kwok.
Posted inBusiness, Maine, News
Ripples from the Silicon Valley Bank crisis touch Maine, but leave it unscathed
The second-largest bank failure in U.S. history affected technology companies, financial institutions and the public throughout the country.
Posted inBusiness, Lewiston-Auburn
Bid for a union at Bates College remains stalled in Washington
National Labor Relations Board has yet to rule on Bates’ contention that support staff and faculty should not be in the same union.
Posted inBusiness, Nation & World, News, Politics
Biden says he’s focused ‘intensely’ on lowering drug costs
The president – gearing up for an expected reelection announcement – aims to make the effort central to his policy and political agenda.