US retail sales post second straight monthly drop; factory output falls – Times of India

[ad_1] WASHINGTON: US retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big-ticket items, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates.Ebbing demand for goods is undercutting production at factories, with other data on … Read more

First Citizens Bank Acquires Deposits And Loans Of Failed Silicon Valley Bank

[ad_1] New Delhi: The Federal Deposit Insurance Corporation (FDIC) has entered into a purchase and assumption agreement for all deposits and loans of recently failed US-based Silicon Valley Bridge Bank by First-Citizens Bank and Trust Company, Raleigh, North Carolina. The FDIC created Silicon Valley Bridge Bank, National Association, following the closure of Silicon Valley Bank … Read more