News Briefings

Cheddar Afternoon News Briefings of May 15th

We enjoy. Hello everyone. This is your daily news briefing from Chatter news, the former chief executive of Silicon Valley Bank, Greg Becker, former chairman of Signature Bank, Scott Shea and Eric Howell, the former president of Signature Bank. All will testify before the Senate banking committee tomorrow. That hearing is expected to shed light on the circumstances surrounding the collapse of both those banks which sent shock waves through the US financial markets. Meanwhile, Vice media has filed for chapter 11 bankruptcy and noted in their filing, they now have assets and liabilities worth between 500 million and a billion dollars. The company is looking for a buyer. They say the sale process could conclude in the next 2 to 3 months and fanatics has agreed to buy the US assets of sports betting company points bet for $150 million. The deal will give fanatics access to at least 15 states operations immediately with a fanatic spokesperson saying that the company expects to have access to a majority of points bets operating states by the start of the NFL season. And that's your cheddar news update. I'm Baker Machado, coming to you from Cheddar Studios. In lower Manhattan.