Small Deposits: Vanguard predicts recession and job losses in 2023; Pennsylvania tops U.S. in bank branch closures
A roundup of recent banking and finance news across Greater Philadelphia.
Lance Parker promoted to president of Alexander & Baldwin
Parker is currently the company's chief operating officer and has been appointed to the additional position of president, effective Jan. 1.
Philadelphia-area home sales plummet to lowest level since 2015 as market cooldown accelerates
Philadelphia's November numbers show perhaps the most pronounced signs yet that the local housing market is on the decline.
ImmunityBio gets financing from Patrick Soon-Shiong’s Nant
The biotech company is developing therapies and vaccines that aim to bolster the natural immune system to defeat cancers and infectious diseases.
Local medical device company inks five new international distribution agreements
A Birmingham-based medical device company is expanding its distribution throughout the Middle East, Asia, Europe and North America.
Report: Stanford Law professor parents of FTX founder Sam Bankman-Fried fear financial ruin
Sam Bankman-Fried's parents, both Stanford Law professors, have spent the past month in the Bahamas with him, reportedly worrying that his legal bills “will likely wipe them out financially.”
Wells Fargo holding job fair to court Bay Area tech talent
“We will hopefully benefit from people at least having a willingness to look around,” a senior tech executive said of the bank's job fair amid widespread tech layoffs.
Bit Mining, co-owner of Akron crypto mine, is planning a ‘reverse stock split’
The action would have the effect of a 10-for-1 reverse stock split.
Veritas plans to remake vacant Tenderloin retail building, parking lot into housing
The property was previously earmarked for redevelopment into group housing.
Clean energy startup Raven SR could launch first waste-to-hydrogen facility in East Bay
The facility would allow Raven SR to convert organic waste from a landfill in Richmond into hydrogen to be used as fuel for various renewable energy products, including hydrogen-powered vehicles.