CNBC reports that Silicon Valley Bank (SVB)
announced on March 8 that it was trying to raise over
$2 billion in capital after losing $1.8 billion on asset sales.
CNBC reports that Silicon Valley Bank (SVB)
announced on March 8 that it was trying to raise over
$2 billion in capital after losing $1.8 billion on asset sales.
It was not able to raise the funds.
Shares of parent
company SVB Financial Group dropped 60% on March 9
and another 60% in premarket trading on March 10.
It was not able to raise the funds.
Shares of parent
company SVB Financial Group dropped 60% on March 9
and another 60% in premarket trading on March 10.
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Boeing CEO Dave Calhoun , to Step Down.
Calhoun will resign at the
end of the year, CNBC reports.
His departure comes amid a broad management shakeup at Boeing following a Jan. 5 incident in which a door flew off an Alaska Airlines flight.
His departure comes amid a broad management shakeup at Boeing following a Jan. 5 incident in which a door flew off an Alaska Airlines flight.
As you all know, the Alaska Airlines
Flight 1282 accident was a
watershed moment for Boeing, Boeing CEO Dave Calhoun, via note to employees.
We must continue to respond to
this accident with humility and
complete transparency. , Boeing CEO Dave Calhoun, via note to employees.
We also must inculcate a total
commitment to safety and quality
at every level of our company, Boeing CEO Dave Calhoun, via note to employees.
Calhoun went on to say that
"the eyes of the world are on us.".
Calhoun went on to say that
"the eyes of the world are on us.".
I know we will come through this moment a
better company, building on all the learnings
we accumulated as we worked together to
rebuild Boeing over the last number of years, Boeing CEO Dave Calhoun, via note to employees.
Larry Kellner, chairman of the board,
will also step down in May.
Boeing director Steve Mollenkopf
will become the new chairman.
Boeing director Steve Mollenkopf
will become the new chairman.
Stan Deal, president and CEO of Boeing Commercial
Airplanes, will step down immediately.
Stephanie Pope, Boeing's Chief
Operating Officer, will take his place
Credit: Wibbitz Top Stories Duration: 01:30Published
Trump Canât Obtain Appeal Bond , in New York Fraud Case.
According to a New York court filing
on March 18, Trump isn't able to secure a
$454 million bond as he appeals a civil business
fraud judgement against him, CNBC reports. .
Trump's attorneys said that getting the bond is "impossible" since it would "effectively" require "cash reserves approaching $1 billion.".
Defendantsâ ongoing diligent
efforts have proven that a bond
in the judgmentâs full amount
is âa practical impossibility.â, Donald Trump's lawyers, via CNBC.
Gary Giulietti, president of the
Northeast division of the Lockton Companies, was hired to help Trump obtain a bond.
Despite scouring the market, we have
been unsuccessful in our effort ... for the
simple reason that obtaining an appeal bond
for $464 million is a practical impossibility
under the circumstances presented, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Simply put, a bond of this
size is rarely, if ever, seen, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
In the unusual circumstance that a bond of
this size is issued, it is provided to the largest
public companies in the world, not to
individuals or privately held businesses, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Giulietti went on to say that a private company would need about $1 billion to put up as collateral to receive a bond of that size. .
While it is my understanding that
the Trump Organization is in a strong
liquidity position, it does not have
$1 billion in cash or cash equivalents, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case
brought against him by writer E. Jean Carroll. .
Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case
brought against him by writer E. Jean Carroll.
Credit: Wibbitz Top Stories Duration: 01:31Published
Former Treasury Secretary , Looking to Form Investor Group , to Purchase TikTok.
NBC reports that former Treasury Secretary
Steven Mnuchin is looking to put together an
investor group to acquire ByteDance's TikTok.
NBC reports that former Treasury Secretary
Steven Mnuchin is looking to put together an
investor group to acquire ByteDance's TikTok.
The news comes as a bipartisan bill works its
way through Congress that threatens to bring an
end to the platform's existence in the United States.
The news comes as a bipartisan bill works its
way through Congress that threatens to bring an
end to the platform's existence in the United States.
On March 13, the House of Representatives passed
the bill, which would force ByteDance to divest
the platform or face a ban on the app in the U.S.
I think the legislation should
pass and I think it should be sold.
Itâs a great business and Iâm going
to put together a group to buy TikTok, Steven Mnuchin, Former Treasury Secretary, via CNBCâs âSquawk Boxâ.
This should be owned by
U.S. businesses. Thereâs no
way that the Chinese would
ever let a U.S. company own
something like this in China, Steven Mnuchin, Former Treasury Secretary, via CNBCâs âSquawk Boxâ.
NBC points out that the bill still requires Senate approval
before it heads to President Joe Biden, who has indicated
that he would support the bill if it passes through Congress.
NBC points out that the bill still requires Senate approval
before it heads to President Joe Biden, who has indicated
that he would support the bill if it passes through Congress.
However, TikTok CEO Shou Zi Chew has said
that selling TikTok is not a viable option. .
According to PitchBook data, , ByteDance was valued at , $220 billion in 2023. .
Mnuchin has yet to specify the potential valuation
of a deal to acquire the social media platform
or which investors may be interested in the deal.
At the same time, the 'Wall Street Journal' reported that
former Activision Blizzard CEO Bobby Kotick has also
expressed interest in a deal to purchase TikTok.
At the same time, the 'Wall Street Journal' reported that
former Activision Blizzard CEO Bobby Kotick has also
expressed interest in a deal to purchase TikTok
Credit: Wibbitz Top Stories Duration: 01:31Published
Biden and Trump Clash , Over Cuts to Medicare and Social Security.
Biden and Trump Clash , Over Cuts to Medicare and Social Security.
In a telephone interview
with CNBC host Joe Kernen, .
former President Donald Trump was asked how he'd "handle entitlements" like Medicare and Social Security when it comes to addressing concerns about long-term debt.
So first of all, there is a lot you can do in
terms of entitlements, in terms of cutting, Donald Trump, via CNBC.
And in terms of, also, the theft and the
bad management of entitlements â
tremendous bad management of entitlements
â thereâs tremendous amounts of things
and numbers of things you can do, Donald Trump, via CNBC.
Biden, who pledged during his State of the Union address to stop those who âwant to
put Social Security on the chopping block,â.
took to social media to say,
âNot on my watch.â.
The president addressed the issue again
in New Hampshire on March 11.
If anyone tries to cut Social Security
or Medicare, or raise the retirement
age again, I will stop them, President Joe Biden, via statement.
This morning, Donald Trump
said cuts to Social Security and
Medicare are on the table again, President Joe Biden, via statement.
Trump campaign spokeswoman
Karoline Leavitt issued a statement.
President Trump delivered on his
promise to protect Social Security and
Medicare in his first term, and President
Trump will continue to strongly protect Social
Security and Medicare in his second term. , Karoline Leavitt, Trump campaign spokeswoman, via statement.
The only candidate who poses a threat
to Social Security and Medicare is Joe Biden â
whose mass invasion of countless millions
of illegal aliens will, if they are allowed to
stay, cause Social Security and Medicare
to buckle and collapse, Karoline Leavitt, Trump campaign spokeswoman, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
New York Community Bank , to Buy Portion of Signature Bank.
NPR reports that the agreement
was revealed on March 19.
New York Community Bank will by a large chunk of Signature Bank for $2.7..
Credit: Wibbitz Top Stories Duration: 01:30Published
Silicon Valley Bank was shut down by regulators last week, marking the biggest bank failure since the 2008 collapse. So what happened? And what does this mean for YOUR finances? In this clip, Glenn..