The assets and loans of collapsed US lender Silicon Valley Bank (SVB) are being bought by rival First Citizens BancShares. The failure of SVB earlier this month triggered fears about the stability of other lenders, sparking sharp falls in bank…
Multi-billion dollar rescue deal for First Republic bank
A group of big US banks has injected $30bn (£24.8bn) into a smaller regional bank, First Republic, which had been seen as at risk of failure. The move came as authorities in the US are trying to ease concerns about…
Stock markets hit again by banking worries
Banking shares have fallen sharply again as investors remain nervous following the collapse of Silicon Valley Bank (SVB) in the US last week. The failure of SVB has raised fears that other banks could also be facing problems. Shares in…
*Small businesses grounded as naira scarcity bites harder (DailyTrust)*CBN ends cash swap programme in rural areas (Punch)
Small businesses grounded as naira scarcity bites harder (DailyTrust) The continued naira scarcity in all parts of Nigeria has grounded countless small and medium businesses and pushed millions of families to increased poverty. Their troubles stem from the fact that…