Bloomberg Markets European Open kick starts the trading day, breaking down what’s moving markets and why. Francine Lacqua and Tom Mackenzie live from London bring you an action-packed hour of news no investor in Europe can afford to miss.
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Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong’s multicultural history. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements.
First Republic Shares Inch Higher as Eyes Turn to Rescue Talks
European Stocks Were Muted as Traders Eye Fed Decision, UK CPI
Shock Jump in UK Inflation Pressures BOE Before Decision
Australia Growth Seen Weaker, Recession Risk Rises, Survey Shows
World Bank Chief Urges China to Restructure Poor Nation Debt
GameStop Surges After Reporting First Profit in Two Years
Iranian Activists Want Tech Companies to Ban the Ayatollah
Tencent Stems Revenue Drop as China Poised for Gaming Recovery
Jumia Pushes Into Small African Cities With French Retail Giant
Virgin Orbit Resumes Some Operations in Bid to Shake off Crisis
Ukraine Latest: Zelenskiy Condemns Latest Russian Drone Strikes
How India’s Hunt for a Separatist Preacher Cut Off the Internet for 27 Million People
How Asian Investors Can Navigate Bank Turmoil
SVB’s Loans to Insiders Tripled to $219 Million Before It Failed
Succession’s Brilliant Final Season Veers Into Uncharted Waters: Review
Swiss, Japanese Watch Collectors Outperform with 40% Returns
Quitting London Might Do Little for BAT Stock’s Health
Finally, a Serious Offer to Take Putin Off Russia’s Hands
No, Taxpayers Should Not Underwrite the Banking System
Iranian Activists Want Tech Companies to Ban the Ayatollah
A Visual Guide to How America Uses Freight Trains
Trump’s Tariffs Couldn’t Save the California Olive Industry
First Female Leader at India’s Refinery Builder Plots Big Change
Oklahoma Supreme Court Allows Abortion to Save a Mother’s Life
EU Plans to Give Some Parts of Aviation Industry a Green Label
Beijing Chokes on Dust as Sandstorms Return With a Vengeance
As Amazon’s HQ2 Stalls, Incentives Have, Too
California’s Newsom Scores Win in Bid to Curb Oil Profits
NYPD Blows Overtime Budget by Nearly $100 Million, On Pace for Record
Circle USDC Stablecoin Redemptions Rise to About $6 Billion
Miami and New York’s Crypto CityCoins Meet Quiet Demise
FTX’s LedgerX Attracts Bids From Firms Including Miami Exchange
One problem for Silicon Valley Bank is that its customers had too much cash, and now they don’t.
Matt Levine
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Programming note: Money Stuff was supposed to be off today, but: bank run!
The lesson might be that there are some industries that are bad to bank. Imagine that it was 2021, and someone was like “do you want to start the Bank of Crypto? What about the Bank of Venture-Backed Tech Startups?” You’d be tempted, right? Those industries had so much money! They seemed cool. If you were their bank — if you were the specialized bank that exclusively focused on those industries — influencers on Twitter would tweet nice things about you, and you’d get invited to fancy parties. Also, as their bank, you’d probably find a way to get a cut of growing industries with lots of potential. Provide banking services to tech startups, get warrants in those startups, get rich when they go public. Provide banking services to crypto exchanges, start some sort of blockchain-based payment network, get rich through the magic of saying “blockchain” a lot.