The FTSE 100 closed down slightly today. Among the companies with reports and trading updates today are HSBC, Whitbread, Metro Bank, St. James’s Place and Hargreaves Lansdown. Read the Tuesday 30 April Business Live blog below.
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Some Wells Fargo customers checked their bank accounts this week to discover that their recent deposits had disappeared, causing them to express concern over where the money had gone and, in some cases, to report being late on their bills.
The missing funds were caused by “a technical issue,” leaving some customers’ deposits in limbo, Wells Fargo said on social media in response to customer complaints.
However, the bank did not say on Saturday how many accounts had been affected
On January 18, a prominent financial newsletter noted that if Silicon Valley Bank were liquidated that day, “it would be functionally underwater.” Months before the nation’s 16th-largest bank collapsed, incomplete information provided to regulators indicated that the bank was stable, whereas public signals—such as SVB’s overreliance on longer-term securities hammered by rising interest rates—told a very different story. So why didn’t anyone do something?
To help answer this question, I turned to Natasha Sarin, a lawyer and an economist teaching
