Small and regional U.S. banks hold about 80 percent of all commercial real estate loans in the country, totaling around $2.3 trillion, according to data service Trepp.
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SPECIAL UPDATE: THE BIG BANKSTER BUST
While the European Central Bank and the U.S. Federal Reserve have vowed to do all it takes to prevent a banking crisis, there are fears of a bad situation becoming much worse.
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LAGARDE WARNS OF WAGE-PRICE “TIT-FOR-TAT DYNAMIC”
Europe risks a “tit-for-tat dynamic” between workers and employers as each pushes for higher incomes to escape inflation’s bite, Christine Lagarde, president of the European Central Bank (ECB) warned at a German financial conference last week.
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BUNDESBANK BOSS SAYS ECB MUST KEEP RAISING INTEREST RATES
The European Central Bank (ECB) must remain “stubborn” and continue to raise its interest rates to bring inflation to heel, Joachim Nagel, president of Germany’s Bundesbank and Europe’s chief rate hawk, said in a public statement after the bank bumped its rate by a half-point on 16 March.
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INFLATION UP IN U.K., LIVING STANDARDS DECLINE
According to “experts,” it wasn’t going to happen. Inflation in Great Britain ticked up in February to 10.4 percent after finishing January at 10.1 percent, according to the Office for National Statistics reported.
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AMERICAN CONFIDENCE IN BANKS TAKES HIT
The recent failures of Silicon Valley Bank and Signature have made more Americans lose faith in the country’s banks with just 10 percent of those polled saying they have a high confidence in the nation’s banks. The poll was conducted by the Associated Press-NORC Center for Public Affairs Research and showed a steep decline from......
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CHIPMAKERS: WE NEED ‘FOREVER CHEMICALS’ FOREVER. WE DON’T CARE IF THEY KILL YOU
Major companies lashed out at lawmakers in Minnesota last week over a bill that would ban certain products that contain perfluoroalkyl and polyfluoroalkyl substances—known as PFAS, or “forever chemicals.”
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MEDVEDEV CALLS ON ‘PROPER PIRATES’ TO STEAL WESTERN ENTERTAINMENT CONTENT AS PAYBACK
Dmitry Medvedev, the deputy chairman of Russia’s national security council and former president, has called on Russians to attempt to “pirate” streaming entertainment content from the West to help retaliate against the U.S.’s decision to seize assets over the Ukraine War. Medvedev told TASS that Russians should obtain and distribute these films that are no......
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IMF REACHES AGREEMENT $15.6B LOAN FOR UKRAINE WITH SPECIAL DEAL
The International Monetary Fund, the international lender of last resort, announced last week that it reached a staff-level agreement to provide Ukraine with a $15.6 billion loan to make sure the country can continue its fight with Russia for years to come.
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COVID-19 SCARED AMERICANS THIN?
A recent study found that more Americans grew concerned about their waistlines as COVID-19 spread as research showed overweight individuals were at greater risk of hospitalization and death from the virus.