New York Community Bank recently announced a significant loss of 7% of its deposits in the month leading up to a capital injection of over $1 billion from investors, including former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital. This decline in deposits, from $83 billion to $77.2 billion, came just a day before Moody’s Investors
Finance
New York Community Bancorp, a struggling regional lender, recently announced a $1 billion capital raise and a leadership shake-up. Former Treasury Secretary Steven Mnuchin will be joining the bank’s board of directors along with three other new members. Additionally, Joseph Otting, former comptroller of the currency, will be taking over as CEO. This move led
Nigeria is currently facing a historic currency crisis and soaring inflation, with almost one in 10 people experiencing food insecurity, as noted by the International Monetary Fund. The country’s economy has been severely impacted by rising inflation and a plunging currency, prompting President Bola Tinubu’s government to implement a series of economic reforms aimed at
As the U.K. economy faces the challenges of a stagnant economy and fragile public finances, Finance Minister Jeremy Hunt is expected to deliver a modest package of tax cuts in the upcoming Spring Budget. Despite the pressures of a technical recession and trailing in the polls behind the Labour Party, the government is looking to
