Trading in both firms triggered multiple volatility halts after PacWest fell as much as 42 per cent while Western Alliance plunged 27 per cent.: “I continue to expect the FOMC to raise rates one more time after this week, reaching a peak funds rate of 5 3/8 per cent in June, though admittedly that final move is a close call and will depend on how the economy evolves.
The markets have taken notice of warnings from Treasury Secretary Janet Yellen and the non-partisan Congressional Budget Office.Close to 100 leading Australian scientists and experts have called on the Northern Territory to ban gas fracking as a decision looms on the controversial Beetaloo Basin project.
The letter said fracking in the NT could result in up to 1.4 billion tonnes of emissions and argued the science against its use had not changed for years.COP28 president Sultan Al Jaber said climate diplomacy should focus on phasing out emissions from oil and gas, leaving the door open for the continued use of fossil fuels while ramping up technologies to capture the carbon pollution produced from burning them.