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silicon valley bank collapsed on friday, and the government of the state of new york shut down signature bank last night, claiming signature was on the verge of collapse. the federal government has since taken over that bank. president biden rushed out to the cameras this morning before the markets could open to try to calm the american people. he insisted there s no need for the public to worry, that their money is safe and the economy will not suffer. america can have confidence that the banking system is safe. your deposits will be there when you need them. every american should feel confident their deposits will be there if and when they need them. let me also assure you we will not stop at this. we ll do whatever is needed. the concern now is whether this was just the first part of a larger financial crisis and whether other banks or the markets will take a major hit in the coming days and the move by the biden administration to guarantee that the funds in thos ....
The programme. Turning back time on a family business. Later in the programme well speak to the young entrepreneur whos hoping to revive the watch making company set up my his ancestors. And according to the trade union congress, todays the day that an average Chief Executive in the uk has earned as much as an average worker in a whole year, so we want to know, are they worth it . Just use the hashtag bbcbizlive. Welcome to the programme. In a few hours well receive the latest Inflation Figures for the Eurozone Economy. The block managed growth of 0. 3 in the Third Quarter of last year and a sustained rise in prices could lead to the scaling back of the European Central banks de facto money printing prog ....
Fully insured by the fdic. at the same time, jake, i want to point your attention to the broader markets. the nasdaq closed up. the s&p was up about five minutes before we closed and closed lower fractionally. the reason is all of this news we re getting about the fragility of the banking market making some investors feel like maybe this will help the fed cool it on the rate hikes when we hear from the fed next week. rahel solomon, thanks so much. president biden said customers and small businesses who had money in those two banks should be able to access their money today. he also said investors in those two banks will not be protected. they will likely lose their money. president biden also blamed this banking crisis on a move by his predecessor, donald trump, to loosen requirements of those banks. we asked cnn s phil mattingly to ....
We re finally getting really heavy rain as hurricane ida barrels toward us. i m on iconic bourbon street. normally this would be full of people walking about. this place never shuts down except for now because of a hurricane. all of these shops are boarded up, closed up. you can see the sand bags lining these different taverns, bars and restaurants getting ready for the storm. especially when people had you heard this could be worse than hurricane katrina, katrina was a category 3. hurricane ida a category 4 and could go up to category 5. the storm was 80 miles per hour yesterday. now 150. that s how quickly the storm is intensifying. we met people who were plan nin a vacation and decided to come anyways, not really sure if the storm would materialize, deciding to roll the dice. they did. and listen to how one family, a group of family members and ....
Reported. global markets are mostly higher. shanghai and hong kong closed up. a mixed performance really in europe. right now on wall street, i d call this barely higher in the futures market. we ll see what happens when the opening bell rings. the dow closed 171 higher on wednesday, the s&p 500 and nasdaq closed up slightly as well. ibm closed up 8.5% on a strong earnings report. it surprised investors with profits that actually grew. netflix getting more expensive, but hulu becomes cheaper. hulu has dropped the price of its cheapest package by two bucks just after netflix raised prices. hulu s basic plan which includes ads will cost $6 a month starting february 26. hulu spent the last year focusing on domestic subscription growth and added 8 million sub skriscribers last y. a night to remember for ....