Money Archives

US regulators say SVB customers will be made whole as second bank fails

March 12, 2023 2:23 PM CNN Newsource

By David Goldman, CNN In an extraordinary action to restore confidence in America’s banking system, the Biden administration on Sunday…

What’s the next Silicon Valley Bank — and how can the US prevent more chaos?

March 12, 2023 8:40 AM CNN Newsource

By David Goldman, CNN Silicon Valley Bank failed in rapid, stunning fashion Friday. This week, the tech and banking sector are growing skittish about…

SVB employees received bonuses hours before bank shutdown, reports say

March 12, 2023 7:37 AM CNN Newsource

By Ramishah Maruf, CNN The US Federal Deposit Insurance Corporation offered Silicon Valley Bank employees 45 days of employment and 1.5 times their…

As Twitter failures go from bad to worse, users wonder how long it can stay online

March 12, 2023 3:09 AM CNN Newsource

By Jennifer Korn, CNN Late last year, Dan Sinker found himself in a “Groundhog Day” situation. When he would check his notifications tab…

Norfolk Southern balks at compensating homeowners in East Palestine

March 12, 2023 1:03 AM CNN Newsource

By Anna Bahney and Chris Isidore, CNN Jim Stewart was getting ready to sell his home in East Palestine, Ohio, and retire. Then came the derailment of…

BTS agency HYBE ends takeover battle for K-pop pioneer SM Entertainment

March 11, 2023 9:10 PM CNN Newsource

By Juliana Liu and Gawon Bae, CNN BTS agency HYBE says it has called off a takeover bid for SM Entertainment, ending weeks of corporate mudslinging…

Stablecoin USDC breaks dollar peg after revealing $3.3 billion Silicon Valley Bank exposure

March 11, 2023 9:11 AM CNN Newsource

Reuters Stablecoin USD Coin (USDC) lost its dollar peg and slumped to an all-time low on Saturday after Circle, the US firm behind the coin, revealed…

SVB employees received bonuses hours before bank shutdown, reports say

March 11, 2023 9:11 AM CNN

By Ramishah Maruf, CNN The US Federal Deposit Insurance Corporation offered Silicon Valley Bank employees 45 days of employment and 1.5 times their…

US banks sitting on unrealized losses of $620 billion

March 11, 2023 7:01 AM CNN

By Nicole Goodkind, CNN Silicon Valley Bank’s collapse last week sent tingles of panic down investors’ spines as it highlighted a larger…

How does a bank collapse in 48 hours? A timeline of the SVB fall

March 11, 2023 7:01 AM CNN Newsource

By Ramishah Maruf and Allison Morrow, CNN This week, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and…

Takeaways from the February jobs report

March 11, 2023 6:02 AM CNN Newsource

By Alicia Wallace, CNN February’s jobs report had a little something for everyone. For workers, there were jobs; for employers, there were…

Takeaways from America’s second-largest bank failure

March 11, 2023 4:42 AM CNN

By Ramishah Maruf, CNN Silicon Valley Bank’s 48-hour collapse led to the second-largest failure of a financial institution in US history. SVB…

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds

March 11, 2023 4:42 AM CNN

By Ramishah Maruf, CNN Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken…

Takeaways from America’s second-largest bank failure

March 11, 2023 3:04 AM CNN Newsource

By Ramishah Maruf, CNN Silicon Valley Bank’s 48-hour collapse led to the second-largest failure of a financial institution in US history. SVB…

Asia’s richest man to relaunch iconic 1970s Indian soda that once rivaled Coca-Cola

March 10, 2023 8:29 PM CNN Newsource

By Rhea Mogul, CNN Asia’s richest man, Mukesh Ambani, has announced plans to relaunch an iconic 1970s soda brand that once rivaled Coca-Cola…

These companies held money at Silicon Valley Bank and aren’t sure if they’ll recover the funds

March 10, 2023 4:24 PM CNN Newsource

By Ramishah Maruf, CNN Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken…

Camp toy store pleads for help after Silicon Valley Bank collapse

March 10, 2023 3:28 PM CNN Newsource

By Nathaniel Meyersohn, CNN A toy company based in New York has gotten caught up in the collapse of Silicon Valley Bank and is pleading with…

Camp toy store pleads for help after Silicon Valley Bank collapse

March 10, 2023 2:34 PM CNN

By Nathaniel Meyersohn, CNN A toy company based in New York has gotten caught up in the collapse of Silicon Valley Bank and is pleading with…

Judge concerned Sam Bankman-Fried is too ‘technologically savvy,’ could find a way around tech restrictions

March 10, 2023 12:23 PM CNN Newsource

By Lauren del Valle, CNN United States District Judge Lewis Kaplan indicated at a hearing Friday he might modify FTX founder Sam…

More than 3.2 million Calico Critters toys recalled after deaths of two children

March 9, 2023 4:17 PM CNN Newsource

By Parija Kavilanz, CNN More than 3.2 million Calico Critters toys that were sold in a set with a baby bottle and pacifier accessories are being…

Twitter could have a new rival — a platform created by Meta

March 10, 2023 10:09 AM CNN Newsource

By Clare Duffy, CNN Facebook-parent Meta is exploring building a new, standalone platform for sharing text updates, the company confirmed to CNN on…

This nostalgic childhood drink is now a boozy beverage

March 10, 2023 7:53 AM CNN Newsource

By Jordan Valinsky, CNN Business SunnyD, the flavorful orange drink chugged from childhood by millennials, is embracing one of its more collegial…

The US economy added 311,000 jobs in February, outpacing expectations

March 10, 2023 4:09 AM CNN Newsource

By Alicia Wallace, CNN The US economy added 311,000 jobs in February, according to the latest monthly employment snapshot from the Bureau of Labor…

Global markets sink after sharp selloff in US bank stocks

March 10, 2023 4:36 AM CNN Newsource

By Anna Cooban and Laura He, CNN Markets in Europe and Asia tumbled Friday following a sharp selloff in banking stocks in the United States as a…

Silicon Valley Bank collapse sends tech startups scrambling

March 10, 2023 9:40 AM CNN Newsource

By Catherine Thorbecke, CNN The sudden collapse of a top Silicon Valley lender has pushed tech investors and startups to scramble to figure out their…

Businesses can e-file state, federal income taxes together

March 10, 2023 9:37 AM News Team

Businesses wanting to prepare and e-file both their federal and state income tax returns should visit the Idaho State Tax Commission website.…

Adidas has received over 500 offers for massive unsold Yeezy merchandise

March 10, 2023 9:22 AM CNN Newsource

By Parija Kavilanz, CNN Adidas has received hundreds of offers for the mountain of unsold Yeezy shoes designed by Ye, the artist formerly known as…

Silicon Valley Bank collapses after failing to raise capital

March 10, 2023 6:59 AM CNN Newsource

By Allison Morrow and Matt Egan, CNN Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis…

The Fed wants to limit wage growth. That’s particularly bad for women

March 10, 2023 5:32 AM CNN Newsource

By Nicole Goodkind, CNN The US labor market is remarkably strong — unemployment is sitting at five-decade lows even as the Federal Reserve does all…

London fears for its future as companies defect to Wall Street

March 10, 2023 3:35 AM CNN Newsource

By Hanna Ziady, CNN London is used to punching well above its weight in global financial markets. For years, the London Stock Exchange attracted an…

Disney boss Bob Iger talks about the future of Marvel, ‘Star Wars,’ ESPN, and Hulu

March 9, 2023 9:16 PM CNN Newsource

By Oliver Darcy, CNN Bob Iger’s vision for Disney is coming into greater focus. In his appearance at Morgan Stanley’s annual Technology,…

Markets close sharply lower as bank stocks take a beating

March 9, 2023 1:57 PM CNN Newsource

By Nicole Goodkind, CNN Fear overtook Wall Street Thursday after SVB Financial Group, a bank that lends primarily to tech companies, told investors…

Wall Street Journal: Elon Musk is planning to build his own town

March 9, 2023 4:06 PM CNN Newsource

By Clare Duffy, CNN What do you get for the billionaire who has everything? Perhaps his own town. Entities connected to Elon Musk and his companies…

Under legal threat from GOP lawmakers, Mastercard and Visa pause plan to track gun sales

March 9, 2023 2:47 PM CNN Newsource

By Nathaniel Meyersohn and Matt Egan, CNN Visa, Mastercard and Discover announced they will pause a plan to implement a new merchant category code…

The US economy added 311,000 jobs in February, outpacing expectations

March 9, 2023 10:13 AM CNN

By Alicia Wallace, CNN The US economy added 311,000 jobs in February, according to the latest monthly employment snapshot from the Bureau of Labor…

Fox CEO Lachlan Murdoch dismisses $1.6 billion defamation case revelations as ‘noise’

March 9, 2023 11:30 AM CNN Newsource

By Oliver Darcy, CNN Fox Corporation CEO Lachlan Murdoch on Thursday dismissed the revelations from Dominion Voting Systems’ $1.6 billion…

Russia could weaponize metal exports next, Citi warns

March 9, 2023 10:42 AM CNN

By Julia Horowitz, CNN Russia has restricted exports of natural gas to Europe and announced it will temporarily slash oil output this month in…

Russia could weaponize metal exports next, Citi warns

March 9, 2023 10:42 AM CNN Newsource

By Julia Horowitz, CNN Russia has restricted exports of natural gas to Europe and announced it will temporarily slash oil output this month in…

Lithium-ion battery fires are happening more often. Here’s how to prevent them

March 9, 2023 7:58 AM CNN

By Samantha Murphy Kelly, CNN Business Lithium-ion batteries, found in many popular consumer products, are under scrutiny again following a massive…

Mortgage rates rise for the fifth-straight week

March 9, 2023 10:13 AM CNN Newsource

By Anna Bahney, CNN Mortgage rates edged further toward 7%, rising for the fifth consecutive week, as the Federal Reserve suggests rate increases…

Claim your grocery credit refund, even if you don’t earn enough to file income taxes

March 9, 2023 9:49 AM News Team

Idahoans who don’t make enough money to file an income tax return can get a refund of some of the sales tax they paid on groceries.…

Europe’s defense industry is booming as governments stand by Ukraine

March 9, 2023 9:27 AM CNN Newsource

By Anna Cooban, CNN After months of soaring stock prices, Europe’s defense companies hardly needed another boost. But a tentative €2 billion…

GM employees are ‘strongly encouraged’ to consider its voluntary separation program

March 9, 2023 8:19 AM CNN Newsource

By Jordan Valinsky, CNN Business General Motors said in January it would save $2 billion without planning any layoffs. But on Thursday it said it was…

Lithium-ion battery fires are happening more often. Here’s how to prevent them

March 9, 2023 7:58 AM CNN Newsource

By Samantha Murphy Kelly, CNN Business Lithium-ion batteries, found in many popular consumer products, are under scrutiny again following a massive…

February jobs preview: What to expect after January’s blowout report

March 9, 2023 5:48 AM CNN Newsource

By Alicia Wallace, CNN January’s jobs report delivered a heck of a surprise when it showed the US economy had added more than half a million…

Now even the ‘smart money’ traders are using Reddit for stock tips

March 9, 2023 5:40 AM CNN Newsource

By Nicole Goodkind, CNN Reddit investors have been the butt of many jokes over the last few years, but could these much-maligned meme traders have…

Federal safety regulator probing fatal Tesla crash

March 9, 2023 5:37 AM CNN Newsource

By Reuters The National Highway Traffic Safety Administration on Wednesday said it is opening a new special investigation into a February fatal crash…

Europe joins the US in its chip war with China

March 9, 2023 5:11 AM CNN Newsource

By Juliana Liu and Wayne Chang, CNN Europe’s biggest producer of advanced chipmaking technology has joined the United States in its escalating…

Europe joins the US in its chip war with China

March 9, 2023 5:11 AM CNN

By Juliana Liu and Wayne Chang, CNN Europe’s biggest producer of advanced chipmaking technology has joined the United States in its escalating…

White House calls Tucker Carlson ‘shameful’ in extraordinary rebuke

March 9, 2023 4:39 AM CNN

By David Goldman, CNN The White House lashed out at Fox News host Tucker Carlson Wednesday in an extraordinary rebuke of the late-night commentator…

Credit Suisse delays annual report after ‘late call’ from the SEC

March 9, 2023 2:01 AM CNN Newsource

By Hanna Ziady, CNN Credit Suisse can’t catch a break. In the latest piece of troubling news, the beleaguered Swiss bank has delayed the…

JPMorgan Chase sues former executive Jes Staley over Jeffrey Epstein relationship

March 8, 2023 5:51 PM CNN Newsource

By David Goldman, CNN JPMorgan Chase sued former executive James Edward “Jes” Staley, who was largely responsible for JPMorgan’s…

Fox News and Dominion spar in new legal filings

March 8, 2023 3:49 PM CNN Newsource

By Oliver Darcy, CNN Dominion Voting Systems and Fox News traded barbs in new court filings Wednesday, with the election technology company accusing…

Crypto-friendly lender Silvergate collapses

March 8, 2023 2:57 PM CNN Newsource

By Allison Morrow, CNN Crypto-focused lender Silvergate said it is winding down operations and will liquidate the bank after being financially…

White House calls Tucker Carlson ‘shameful’ in extraordinary rebuke

March 8, 2023 2:49 PM CNN

By David Goldman, CNN The White House lashed out at Fox News host Tucker Carlson Wednesday in an extraordinary rebuke of the late-night commentator…

White House calls Tucker Carlson ‘shameful’ in extraordinary rebuke

March 8, 2023 2:49 PM CNN Newsource

By David Goldman, CNN The White House lashed out at Fox News host Tucker Carlson Wednesday in an extraordinary rebuke of the late-night commentator…

The cost of food is down, but grocery bills are still up. Here’s why

March 8, 2023 1:42 PM CNN Newsource

By Danielle Wiener-Bronner, CNN Why aren’t prices falling at the grocery store? When food producers started raising prices a few years ago,…

Senators warn Big Tech on Section 230: ‘Reform is coming’

March 8, 2023 1:13 PM CNN Newsource

By Brian Fung, CNN US senators said Wednesday that bipartisan support is growing for revising a federal immunity law for tech platforms and websites…

The US housing market is short 6.5 million homes

March 8, 2023 6:57 AM CNN Newsource

By Anna Bahney, CNN The United States is not building enough homes to account for the number of people setting up their own households. As a result,…

TikTok could be a valuable tool for China if it invades Taiwan, FBI director says

March 8, 2023 10:44 AM CNN Newsource

By Sean Lyngaas, CNN The Chinese government could use TikTok to control data on millions of people and harness the short-form video app to shape…

TikTok could be a valuable tool for China if it invades Taiwan, FBI director says

March 8, 2023 10:44 AM CNN

By Sean Lyngaas, CNN The Chinese government could use TikTok to control data on millions of people and harness the short-form video app to shape…

The number of available jobs in the US shrank in January

March 8, 2023 8:16 AM CNN Newsource

By Alicia Wallace, CNN There’s a slight chill running through the US labor market, but the temperature is still too high for the Federal…

Buying bank stocks before a recession used to be madness. Not anymore

March 8, 2023 3:18 AM CNN Newsource

By Anna Cooban, CNN Investors are bucking tradition this year by piling into big bank stocks just as major economies are expected to either slow down…

FTC says it’s conducting an investigation into Twitter’s privacy practices

March 8, 2023 9:19 AM CNN Newsource

By Brian Fung, CNN The Federal Trade Commission has acknowledged a wide-ranging investigation into Twitter’s privacy practices after a House…

Takeaways from the February jobs report

March 8, 2023 8:16 AM CNN

By Alicia Wallace, CNN February’s jobs report had a little something for everyone. For workers, there were jobs; for employers, there were…

Fox CEO Lachlan Murdoch dismisses $1.6 billion defamation case revelations as ‘noise’

March 8, 2023 6:41 AM CNN

By Oliver Darcy, CNN Fox Corporation CEO Lachlan Murdoch on Thursday dismissed the revelations from Dominion Voting Systems’ $1.6 billion…

Fox Chairman Rupert Murdoch rejected election conspiracy theories, Dominion lawsuit documents show

March 8, 2023 6:41 AM CNN

By Oliver Darcy, Jon Passantino, Marshall Cohen, Nicki Brown, Kate Trafecante, Anna Bahney and Jeanne Sahadi, CNN A trove of text messages, emails,…

US safety regulators to investigate Tesla for steering wheels that can fall off

March 8, 2023 6:35 AM CNN Newsource

By Chris Isidore, CNN Federal safety regulators are investigating Tesla’s Model Y SUV after at least two instances in which owners said their…

Yeezy fallout could push Adidas into its first annual loss in 31 years

March 8, 2023 5:43 AM CNN Newsource

By Anna Cooban, CNN Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it…

The Biden administration is shifting its approach to TikTok

March 8, 2023 5:32 AM CNN Newsource

By Jeremy Diamond and Brian Fung, CNN The White House’s endorsement of a bill that would give the Biden administration new powers to restrict…

The Biden administration is shifting its approach to TikTok

March 8, 2023 5:32 AM CNN

By Jeremy Diamond and Brian Fung, CNN The White House’s endorsement of a bill that would give the Biden administration new powers to restrict…

Jerome Powell’s testimony sent markets reeling. That may be a good thing

March 8, 2023 5:30 AM CNN Newsource

By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s…

The cost of food is down, but grocery bills are still up. Here’s why

March 8, 2023 5:27 AM CNN

By Danielle Wiener-Bronner, CNN Why aren’t prices falling at the grocery store? When food producers started raising prices a few years ago,…

China censors women modeling lingerie on livestream shopping — so men are doing it

March 8, 2023 4:00 AM CNN

By Chris Lau and Kathleen Magramo, CNN Donning a sassy piece of silk lingerie, a male model grooves to the beat and forms a heart shape with his…

IMF chief: Ukraine war will have ‘devastating’ consequences for Russia’s economy

March 8, 2023 1:36 AM CNN Newsource

By Julia Horowitz, CNN The International Monetary Fund has drawn criticism for forecasting that Russia will see stronger economic growth this year…

China censors women modeling lingerie on livestream shopping — so men are doing it

March 7, 2023 7:22 PM CNN Newsource

By Chris Lau and Kathleen Magramo, CNN Donning a sassy piece of silk lingerie, a male model grooves to the beat and forms a heart shape with his…

Elon Musk thinks he can fix Twitter’s advertising business after derailing it

March 7, 2023 4:19 PM CNN Newsource

By Catherine Thorbecke, CNN Elon Musk on Tuesday offered an optimistic picture for how Twitter can improve the advertising business he helped derail…

Fox Chairman Rupert Murdoch rejected election conspiracy theories, Dominion lawsuit documents show

March 7, 2023 4:15 PM CNN Newsource

By Oliver Darcy, Jon Passantino, Marshall Cohen, Nicki Brown, Kate Trafecante, Anna Bahney and Jeanne Sahadi, CNN A trove of text messages, emails,…

NTSB launches special safety culture investigation of Norfolk Southern

March 7, 2023 2:20 PM CNN Newsource

By Gregory Wallace Citing the “number and significance of recent Norfolk Southern accidents,” federal investigators said Tuesday they…

US senators unveil bipartisan bill empowering Biden to ban TikTok and other services

March 7, 2023 1:38 PM CNN Newsource

By Brian Fung, CNN A dozen US senators unveiled bipartisan legislation Tuesday expanding President Joe Biden’s legal authority to ban TikTok…

NSA chief warns TikTok could censor videos as part of Chinese influence operations

March 7, 2023 1:31 PM CNN Newsource

By Sean Lyngaas, CNN US national security officials are concerned that TikTok could use its vast global reach to shape public opinion by either…

ChatGPT is coming to Slack

March 7, 2023 1:24 PM CNN Newsource

By Jennifer Korn Next time you’re wondering how to respond to a colleague on Slack, you may be able to ask ChatGPT for help. Salesforce, the…

Howard Schultz will testify before senate committee on Starbucks’ labor practices

March 7, 2023 11:38 AM CNN Newsource

By Danielle Wiener-Bronner, CNN Starbucks interim CEO Howard Schultz will testify before a Senate committee about the company’s labor practices…

Elon Musk publicly mocks Twitter worker with disability who is unsure whether he’s been laid off

March 7, 2023 11:11 AM CNN Newsource

By Clare Duffy, CNN Elon Musk has apologized after publicly scoffing at a Twitter employee’s uncertainty about whether he had been laid off in…

Six small things you can do this year to improve your financial future

March 6, 2023 2:35 PM CNN Newsource

By Jeanne Sahadi, CNN You know very well you could do a million things to improve your financial situation. The problem, though, is that changing a…

Uber is making it easier to find your ride at the airport

March 7, 2023 5:01 AM CNN Newsource

By Catherine Thorbecke, CNN Uber on Tuesday unveiled some new product features that aim to make it easier for you to find your ride at the airport.…

Takeaways from Powell’s congressional testimony

March 7, 2023 6:37 AM CNN Newsource

By Alicia Wallace, CNN Federal Reserve Chairman Jerome Powell was on Capitol Hill Tuesday for the first part of his two-day semiannual monetary…

There’s a new Reese’s in town, hold the dairy

March 7, 2023 7:03 AM CNN Newsource

By Danielle Wiener-Bronner, CNN Vegan Reese’s are happening. Hershey, which makes Reese’s along with Hershey bars, Kisses and other…

Ticketmaster goes down again as Eurovision fans rush to snag tickets

March 7, 2023 7:03 AM CNN Newsource

By Jessie Gretener and Anna Cooban, CNN Some fans of the Eurovision Song Contest were unable to access Ticketmaster’s website Tuesday, almost…

WeightWatchers jumps into the prescription weight loss drug business

March 7, 2023 8:05 AM CNN

By Nathaniel Meyersohn, CNN WeightWatchers is getting into the booming prescription weight loss drug business. The company, now known as WW…

Google’s 16th employee is getting her own Barbie

March 6, 2023 10:01 PM CNN Newsource

By Parija Kavilanz, CNN Barbie isn’t one to be pigeonholed into a profession just because she’s a woman. She’s had an impressive…

Snap stock surges as Congress renews efforts to ban TikTok

March 7, 2023 9:48 AM CNN Newsource

By Catherine Thorbecke, CNN Investors are betting that Washington’s mounting scrutiny on TikTok could be good news for rival Snapchat. Shares…

US Justice Department sues to block JetBlue’s purchase of Spirit Airlines

March 7, 2023 9:31 AM CNN Newsource

By Chris Isidore, CNN The US Justice Department is suing to stop JetBlue’s proposed $3.8 billion deal to buy discount carrier Spirit Airlines,…

Facebook tests bringing back in-app messaging features as it competes with TikTok

March 7, 2023 8:20 AM CNN Newsource

By Clare Duffy, CNN Nearly a decade after Facebook angered some users by splitting off messaging features from its flagship social networking…

Toyota’s new Prius may be the best argument yet for hybrids

March 7, 2023 8:04 AM CNN Newsource

By Peter Valdes-Dapena, CNN Business After I parked a new 2023 Toyota Prius and walked away, I turned around to look at it. Not because I was…

Debt default would be ‘catastrophic’ event that could kill millions of American jobs, Moody’s warns

March 7, 2023 8:02 AM CNN Newsource

By Matt Egan, CNN A breach of the US debt ceiling risks sparking a 2008-style economic catastrophe that wipes out millions of jobs and sets America…

WeightWatchers jumps into the prescription weight loss drug business

March 7, 2023 7:38 AM CNN Newsource

By Nathaniel Meyersohn, CNN WeightWatchers is getting into the booming prescription weight loss drug business. The company, now known as WW…

Bud Light Seltzer used to run ads joking that people thought it was beer. It’s not a joke anymore

March 7, 2023 7:04 AM CNN Newsource

By Jordan Valinsky, CNN Business Bud Light Seltzer has a problem: People still think there’s beer in the spiked seltzer. More than half of the…

What to watch as Fed Chair Powell testifies before Congress

March 7, 2023 5:37 AM CNN Newsource

By Nicole Goodkind, CNN Federal Reserve Chair Jerome Powell is on the hot seat this week as he testifies before Congress. Investors will be watching…

Sri Lanka expects approval of $2.9 billion IMF deal after China support

March 7, 2023 3:33 AM CNN Newsource

Reuters Sri Lanka expects final approval from the International Monetary Fund for a $2.9 billion loan in the third or fourth week of this month, the…