Various US Republicans have come out to opposite increasing bank deposit guarantees beyond the current $250,000 limit.
The US House Speaker McCarthy has stated the lack of US fiscal debt solving talks could jeopardize the US economy.
The government of Switzerland and the Swiss National Bank could increase its total bail out of Credit Suisse up to 260 billion CHF, which is a third of the country's GDP.
The People's Bank of China has announced that it would reduce its bank reserve requirements in an effort to boost lending and economic recovery.
The ECB banking supervisors have stated that they observe no contagion into the Euro Zone bank sector from the ongoing US and Swiss bank failures.
The Federal Deposit Insurance Corporation has deposited $40 billion in the US Treasury, reversing a previous $40 billion withdrawal, which was done during the takeover of the failed Silicon Valley Bank.
Volkswagen has announced plans to invest in mining in an effort to bring down the costs of battery cells. The company intends to meet half of the company's own demand and sell to others.
SpaceX, Boeing and Netflix are set to join the biggest US business mission to Vietnam, as the United States are set to discuss investment and trade among the two countries.
The Swiss banking group Credit Suisse has revealed that the 50 billion CHF received from the Swiss National Bank would allow the bank to continue its ongoing reforms.
The stock price of First Republic Bank has continued to decline despite the rescue deal done by JPMorgan Chase, the Federal Reserve and the US Treasury for 11 firms to deposit $30 billion at the failing bank.
Reuters has reported that the European Central Bank confidently hiked its base interest rate by 0.50% due to the Swiss National Bank bailing out Credit Suisse.
Tyson Foods has announced that it would close two chicken processing plants in the US. By doing so the company would fire 1,700 workers.
The US head of KPMG Paul Knopp has stated that the accounting company would stand by its audits of the Silicon Valley Bank and Signature Bank.
US Senator Elizabeth Warren has stated that Jerome Powell should recuse himself from the review of the recent bank failures. The Senator stated that the Fed Chairman's actions had directly contributed to the situation.
The stock price of Credit Suisse has reached a new low level, as the biggest backer of the bank has announced that he can no longer increase its stake in the bank.
Reuters reported before the European Central Bank rate announcement that the news agency's sources expect the central bank to stick to big base interest rate increases.
The Crypto exchange Binance has revealed that it would halt deposits and withdrawals in GBP starting from May 22.
The Facebook parent company has continued to lay off employees, as it has fired additional 10,000 workers.
The recent stock index surge has been attributed to the US inflation data hitting market expectations, despite the US CPI revealing an increase of the rate of inflation.
The rating agency Moody's has downgraded Signature Bank to junk status. Moreover, the agency has started a review of six US banks.
Bloomberg has reported that the US Federal Reserve and Federal Deposit Insurance Corp are considering the creation of a new fund that would backstop bank deposits.
The Saudi Arabian state oil company Saudi Aramco has revealed record 2022 profit of $161.1 billion.
The Governor of the People's Bank of China Yi Gang has been reappointed to his post for another term.
In the aftermath of the success in Ukraine, Lockheed Martin has received orders for HIMARS systems, which should be met by the company's factory capacity.