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ABC Business

Treasury Secretary Yellen testifies 'banking system is sound'

March 16, 2023 Radio Pacific, Inc ABC Business
Chip Somodevilla/Getty Images (WASHINGTON) — Treasury Secretary Janet Yellen told Congress on Thursday the U.S. “banking system is sound” after two bank failures stirred economic fears. Yellen, testifying before the Senate Finance Committee, began her remarks by
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A bailout or not? Did the federal government bailout Silicon Valley Bank and Signature Bank?

March 16, 2023 Radio Pacific, Inc ABC Business
IronHeart/Getty Images (NEW YORK) — The word “bailout” is sure to make anyone who remembers the 2008 financial crisis nostalgic in all the worst ways. At the time, the government used taxpayer money to keep some of
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Why most bank deposits are safe, despite the Silicon Valley Bank collapse

March 15, 2023 Radio Pacific, Inc ABC Business
Andrea Ronchini/NurPhoto via Getty Images (NEW YORK) — The failure of Silicon Valley Bank, the second-biggest bank collapse in U.S. history, called into doubt the fate of roughly $175 billion in customer deposits. Days later, the U.S. government
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Experts call cryptocurrency a 'bystander' in SVB, Signature Bank collapses

March 15, 2023 Radio Pacific, Inc ABC Business
lvcandy/Getty Images (NEW YORK) — In the wake of last year’s collapse of cryptocurrency exchange FTX, the collapse this week of Silicon Valley Bank and Signature Bank — representing the second and third largest bank failures in
Read More

Credit Suisse, Citi and more bank stocks tumble amid Silicon Valley Bank turmoil

March 15, 2023 Radio Pacific, Inc ABC Business
Javier Ghersi/Getty Images (NEW YORK) — Bank stocks in the U.S. and Europe tumbled on Wednesday as the global financial system continued to reckon with the Silicon Valley Bank collapse, the largest bank failure since 2008. Shares
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After the fall of Silicon Valley Bank and Signature Bank, here are tips to keep your money safe

March 15, 2023 Radio Pacific, Inc ABC Business
Catherine McQueen/Getty Images (NEW YORK) — The closures of two of the nation’s largest banks over the past week have put many consumers on edge. Silicon Valley Bank, the nation’s 16th largest bank, struggled as the sharp
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OpenAI releases GPT-4, claims its chatbot significantly smarter than previous versions

March 15, 2023 Radio Pacific, Inc ABC Business
Jakub Porzycki/NurPhoto via Getty Images (NEW YORK) — OpenAI released the latest version of ChatGPT, the artificial intelligence language model making significant waves in the tech industry, on Tuesday. GPT-4, the latest model, can understand images as
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Two Lunchables approved for National School Lunch Program to be served at cafeterias next year

March 15, 2023 Radio Pacific, Inc ABC Business
Kraft Heinz (NEW YORK) — Lunchables are ready for their first day of school. In tandem with the National School Lunch Program, the ready-to-eat packaged Lunchables kits, made by Kraft Heinz, have been approved to be served
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