Newsletter Mar 21, 2023
3 things you must know
  • FDIC opts to break up Silicon Valley Bank, auction off units

    The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week. FDIC will take bids for SVB until Wednesday and the bridge bank until Friday. Bank and non-bank financial firms will be allowed to bid on the asset portfolios.

    SEE WHICH INVESTORS ARE EXPECTED TO BID ON SVB

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Japan: Nikkei 225 26,945.67 -1.42%
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* As of market close

 
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US reports 'human rights issues' in India

The annual U.S. report on human rights practices released on Monday listed "significant human rights issues" and abuses in India, including reported targeting of religious minorities, dissidents and journalists, the U.S. State Department said. The findings come after the U.S. was monitoring a rise in human rights abuses in India by some government, police and prison officials, in a rare direct rebuke. U.S. criticism of India is rare due to close economic ties between the countries and India's increasing importance for Washington to counter China in the region.

SEE THE HUMAN RIGHTS ABUSES DETAILED IN THE US REPORT



GOP calls for canceling COVID relief funds

A Republican proposal to cancel unspent COVID-19 relief money could undercut healthcare for military veterans and pensions for blue-collar workers while doing little to improve the U.S. fiscal picture. The flood of COVID-relief aid -- $5.2 trillion in all -- that Congress approved under Republican President Donald Trump and his Democratic successor Joe Biden has emerged as an early target for House of Representatives Republicans as they search for ways to rein in federal spending.

SEE WHICH PROGRAMS WOULD END UNDER GOP PROPOSAL


States ask Kia, Hyundai to fight theft trend

A group of 22 U.S. state attorneys general on Monday urged Hyundai Motor and Kia Corp to do more to address millions of vehicles that are prone to theft in the U.S.. Last month, the Korean automakers said they would offer software upgrades to 8.3 million U.S. vehicles to help curb car thefts using a method popularized on TikTok and other social media channels. The post has seen a dramatic rise in thefts of those vehicles.

SEE HOW CAR THEFTS HAVE RISEN IN WAKE OF TIKTOK VIDEO

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Grand theft auto

What vehicle model was the most commonly stolen in the U.S. in 2022?

Tuesday's answer: The most commonly stolen vehicle in the U.S. in 2022 was the Ford Full-Size Pickup truck with a total of 44,014 thefts.

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