Sweden’s national pension cut investments in Apple, Tesla, Intel, and Nvidia. The tech stocks outperformed in the first quarter. Read More...
Reuters
PNC, JPM putting in final bids for First Republic in FDIC auction -sources
NEW YORK (Reuters) -PNC Financial Services Group and JPMorgan Chase & Co were among banks set to submit final bids for First Republic Bank by midday Sunday in an auction being run by U.S. regulators, sources familiar with the matter. The Federal Deposit Insurance Corp is expected to announce a deal on Sunday night before Asian markets open, with the regulator likely to say at the same time that it had seized the lender, three sources previously told Reuters. U.S. regulators have been trying to clinch a sale of First Republic over the weekend, with roughly half a dozen banks bidding, sources said on Saturday, in what is likely to be the third major U.S. bank to fail in two months.
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