Latest from Nick Esposito

• Mar 14, 2023

  HSBC boss after SVB acquisition: You can bank on us

  

  From the BBC World Service: With global markets still reeling from the failure of Silicon Valley bank, we hear from the CEO of HSBC who bought the UK arm for £1 on Monday. BBC Beijing correspondent Stephen McDonnell reports from China where the doors to foreign visitors will open from next week. Plus, is there hidden Nazi gold in a Dutch town? The BBC’s Anna Holligan has been to find out.

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• Mar 13, 2023

  Biden: SVB deposits and banking system “safe”

  

  President Biden, in remarks delivered Monday morning, said that the U.S. banking system is “safe” and that depositors at the failed Silicon Valley and Signature banks would have full access to their deposits. The president’s messaging comes amid a wider campaign by federal officials to tame potential panic over this weekend’s banking debacle, according to Marketplace’s Sabri Ben-Achour. And, we got in touch with economist Julia Coronado to discuss how higher interest rates — which have come after a sustained period of near-zero rates — could have contributed to the crisis. 

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• Mar 13, 2023

  Three days later, what’s come of the SVB takeover?

  

  Since the collapse — and subsequent government takeover — of Silicon Valley Bank on Friday, the fallout on the wider financial system has led to a new federal lending program and the shutdown of Signature Bank. We talk with Karen Petrou, managing partner at Federal Financial Analytics, about what steps regulators have taken in the wake of the debacle — and what they may have missed in the leadup to the chaos. And, a word from the UK’s top financial official on HSBC’s acquisition of SVB’s operations in that country.

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• Mar 13, 2023

  HSBC buys SVB UK

  

  From the BBC World Service: After late night discussions SVB’s UK operation has been snapped up by HSBC, for one pound. Francis Coppola, an independent banking analyst explains what impact the failure of SVB has had in the UK. Plus, with Oscars handed out we look at the growth of the movie industry in Nigeria, which now produces more films every year than Hollywood.

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• Mar 10, 2023

  The jobs report is out, and it’s a hard one to parse

  

  The much-anticipated February jobs report is out, and it’s a harder one to dissect than last month’s — job gains exceeded expectations, but the unemployment rate ticked up. Christopher Low, chief economist at FHN Financial, gives us some insight. President Biden released his budget request yesterday, which could serve as a policy preview for a potential 2024 reelection campaign. And, we take a look at what big players in the energy industry are talking about at a big conference going on in Houston right now. 

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• Mar 10, 2023

  Inside the obscure lives of modern railcar-riding wanderers

  

  The image of a person jumping between railcars and transient living may evoke images of old 20th-century films like “The Outsiders,” but a subculture of modern rail riding is going strong today. We spoke with Danelle Morton, host of the new podcast “City of the Rails,” which delves into this unseen world. A look at why some bad news in the banking sector caused a stock selloff in that area. And, a preview of today’s much-anticipated jobs report. 

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• Mar 10, 2023

  Rishi Sunak meets Emmanuel Macron as a new post-Brexit era beckons

  

  From the BBC World Service: Could the UK/France summit signal future post-Brexit cooperation on issues like immigration and trade? We talked to two business owners — one British and one French — about what they thought about the talks. The United Nations is trying to avert an environmental disaster off the coast of Yemen. And, The Banshees of Inisherin could win some Oscars this weekend — but who’s behind the stunning knitwear?

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• Mar 9, 2023

  Pensions could be the latest retro comeback story

  

  The mythical retirement scheme that’s known as a pension — most of which went away in the last half-century — could be on its way back in, thanks to acute labor shortages in the economy. Chris Farrell, Marketplace’s senior economics contributor, takes us through how competition might inspire employers to resurrect pensions. As we wait for the big jobs report that’s due out tomorrow, we check in with Diane Swonk about what the markets are expecting. And, a look at consumer debt at a time when inflation and high spending are driving up borrowing all over the place. 

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• Mar 9, 2023

  JPMorgan sues former top exec linked to Jeffrey Epstein

  

  JPMorgan has opened a lawsuit against Jes Staley, a former top executive who was head of private banking at the company. We look into what’s behind the lawsuit, and how it revolves around Staley’s alleged ties to the late sexual predator Jeffrey Epstein. And, we speak to the owner of a Latin music-focused record shop in Los Angeles about his story and the broader vinyl revival, which has accelerated in recent years as new demographic groups hop on the trend.

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• Mar 9, 2023

  Honda applies the brakes in Pakistan

  

  From the BBC World Service: Amid Pakistan’s ongoing economic turmoil, Honda’s subsidiary in the country says it will shut down until the end of the month because it can’t source the parts it needs. Plus, the chip wars continue as the Netherlands – home to hi-tech supplier ASML – says it will impose new export controls on the grounds of national and international security. And, in Japan police are cracking down on a series of pranks that have caused shares at Japanese restaurants to plummet. It’s known as sushi terrorism – where pranksters tamper with food on conveyor belts found in sushi restaurants.

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