i m boris sanchez. and i m paula reid. it is great to be with you. great to be with you as well. i was looking at amara walker s social media. looks like she is skiing somewhere with her family. great for her. and there is a lot to get to. here is some of what we re watching for this morning. wake up, wake up, your house is flooded. and i looked on the ground and there was a flood. he seems to be in a good food fo mood for a natural disaster. california was soaked with another storm and prompted evacuations. would we have the latest on where the severe weather is headed next. and overall we ve created more jobs in two years than any administration has created in their first four years. president biden takes a victory lap following a strong jobs report. where we re seeing those jobs. plus the stunning bank collapse that has some small business owners wondering how they will pay their employees. and in politics, testing the waters. presidential hopefuls swarming i
state of emergency as intense storms hammer the golden state. we can t live like this. atmospheric rivers washing out roads and bridges leaving people trapped in their mee joi management director from one of the hardest hit counties. the economy still red hot notching another strong jobs report. we ll tell you where the job gains are and why this complicates the fight to tame inflation. all the money is in the bank. i don t know what we re going to do now. reporter: a capital crisis, a stunning free fall leading to the second largest collapse of a financial institution in u.s. history. could there be a domino effect and what does this mean for those with accounts at svb? i think it was an overreaction to the destruction of property. large rocks, your only intent is to harm. police and protesters clashing over a controversial police training facility near atlanta. how things turned violent and why tensions remain high this weekend. can you feel that? it s the
that ensures bank deposits and overseas financial institutions. the agency says all insured depositors will have access to their deposits no later than monday morning. the fdic ensures deposits of up to $250,000. why did this bank fail so quickly? it is an old school bank run in a modern economy. you can point to two reasons. the first is that the fed has been increasing interest rates since 2022. that has an effect on thing bank s assets, which means its unrealized bonds were worthless money. those increased interest rates has had a devastating effect in the tech sector at large. the tech sector has seen layoffs and funds been sold off. that has led to panic. that s led to group chats of founders of vcs all abuzz with what to do with svp. that led to panic. nobody wants to be the last customer held at a bank. help break down all those affected. svb was the premier bank in silicon valley. we ve seen tech companies banking at svb as kind of a badge of honor. right now we
business reporter this morning is katie silver has been looking into the story for is and joins us on the programme. always going to get you on the show. what is your sense of the key things to look out for today? key things to look out for toda ? ,, ~ ., ., ., today? sure. we have heard from the a-rou today? sure. we have heard from the grow) and today? sure. we have heard from the group and the today? sure. we have heard from the group and the key today? sure. we have heard from the group and the key things - the group and the key things are the war in ukraine and then china, particularly when it comes to china is its relationship and how is it how it plays our going forward when it comes to taiwan. the meeting began at the end of last night, a working dinner between the foreign ministers. we also saw the eu s top foreign policy chief, josep borrell, addressed the group by video link. is said basically when it comes to china they have the decision was the relations