JPMorgan jumps to the rescue at First Republic – for a price

First Republic’s mortgages are mainly for expensive homes bought by very wealthy people. (Image: Getty)

Tue, 02 May 2023

By Paul J DaviesThe slow collapse of First Republic Bank has a resolution and it’s Jamie Dimon, acting much like the original John Pierpont Morgan, to the rescue again. The chief executive officer of JPMorgan Chase won an auction run at the US weekend to take on most of the assets and liabilities of the failed bank.But this is no act of altruism. Game of chickenAfter what seemed like an extended game of chicken between the Federal Deposit Insurance Corp (FDIC) and private sector banks over the past week or so, this deal only hap...

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Property

Developer Kurt Gibbons buys Ryman’s Newtown site

The land was formerly the site of Wellington's Tip Top bread factory.

Gregor Thompson 10:30am

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QuiznessDesk: Thursday, Oct 31

One Night in Bangkok was a hit song from what musical?By inserting an extra letter, what word meaning a small group of trees can be changed to one meaning a dead body?State Highway 2 between Gisborne and Opotiki passes through what gorge?What was the nickname of a 1940s Hollywood...

The Quizmaster 9:15am