Investments

Federal banking regulators should allow banks to receive Community Reinvestment Act credit for making loans to community news organizations.

SVB Financial Group shares extended their plunge before being halted in premarket trading for pending news as prominent venture capitalists recommended companies withdraw their money from the lender.

Shares in Silicon Valley Bank's parent company plunged 60% after executives announced they would sell a large bond portfolio at a big loss. The market "seems to be pricing in greater liquidity needs" than the bank currently anticipates, one analyst said.

The New York megabank unveiled the most complete accounting to date of its carbon footprint, and pledged to further reduce emissions from various high-emitting industries. Climate activists offered a mix of praise and concern.

In brief remarks about the Federal Reserve's handling of COVID-19 crises, the governor said the central bank's asset-buying program is taking longer to unwind than its emergency lending facilities.

The measure prohibits government contracts with companies deemed to be "boycotting" the fossil fuel, firearm, timber, mining, and agriculture industries.

President Joe Biden's nominee to lead the World Bank said there's sufficient scientific evidence that burning fossil fuels contributes to climate change, seeking to address criticism about the lender's commitment to the issue under its outgoing chief.

A Bloomberg report shows that the headway made to date isn't enough for the planet to reach the crucial goal of net-zero emissions by mid-century.

Banks with up to $225 billion of assets are making some progress in assessing climate-related financial risks, but they still lag behind bigger banks in taking action, according to a report from the consulting firm Baringa Partners US.