Month: May 2023

US bank First Republic’s assets will be taken over by JP Morgan after it became the third American lender to fail in two months. JP Morgan has agreed a deal with regulators to acquire the “substantial majority” of First Republic’s assets, including $173 billion (£138bn) of loans. The California Department of Financial Protection and Innovation
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The World Food Programme (WFP) will continue its operations in Sudan after they were suspended following the deaths of three of its team members in the conflict. The UN organisation’s executive director Cindy McCain has said it is “rapidly resuming our programs to provide the life-saving assistance that many so desperately need right now”. The
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