NJ Spotlight News
Business Report: Banking protections
Clip: 3/17/2023 | 2m 28sVideo has Closed Captions
Silicon Valley Bank officially filed for bankruptcy protection on Friday
Nervousness over events in the banking sector persists even after the regional bank First Republic got an infusion of cash after a difficult week. The failed Silicon Valley Bank officially filed for bankruptcy protection on Friday. While federal officials have taken steps to contain the issues with banks, Parul Jain of Rutgers Business School says it’s hard to predict what happens next.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
Business Report: Banking protections
Clip: 3/17/2023 | 2m 28sVideo has Closed Captions
Nervousness over events in the banking sector persists even after the regional bank First Republic got an infusion of cash after a difficult week. The failed Silicon Valley Bank officially filed for bankruptcy protection on Friday. While federal officials have taken steps to contain the issues with banks, Parul Jain of Rutgers Business School says it’s hard to predict what happens next.
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Learn Moreabout PBS online sponsorshipthe nervousness over the banking sector continued again today even after the Regional Bank First Republic got an infusion of cash after a difficult week meantime the failed Silicon Valley Bank officially filed for bankruptcy protection earlier today while Federal officials have taken steps to contain the issues with banks Rutgers business school associate professor peralt Jane says it's hard to predict what happens next it remains to be seen in terms of how many more Banks crumble but in general I would say that you know the policy makers are taking prompt action it may cause some contagion that means that you know a lot of banks are going to come under more heavier scrutiny and the sector is going to suffer as a result but in general we don't expect that this is a major going to be a major financial crisis New Jersey's total gambling Revenue increased more than 10 percent in February much of the increase these came from betting online in-person gambling at the casinos was only up just over one percent compared to a year earlier and only three casinos Borgata Hard Rock and ocean one more from in-person gamblers last month than they did in February 2019 before the pandemic hit meantime there was also a decline in sports betting Revenue residents in Newark South Ward will eventually have easier access to Newark International Airport the Port Authority has approved 12 million dollars in initial funding for a project that would provide access to an existing pedestrian bridge the project will cost 125 million dollars in all and is estimated to be completed in 2025. the project will also provide quicker access to Newark Penn Station now here's a look at the closing numbers from Wall Street I'm Rhonda Schaffler and those were your top business stories Deport for the business report provided by the Chamber of Commerce Southern New Jersey working for economic Prosperity by uniting business and Community leaders for 150 years membership and event information online at chamber snj.com
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS