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Argentina ramps interest rate to 97% as inflation soars
Argentina ramps interest rate to 97% as inflation soars
by  AFP

Argentina's central bank hiked its base interest rate Monday by six points to 97 percent as the government prepares to announce a spate of measures to tackle soaring inflation ahead of October's general election.

Ex SVB head says social media 'fueled' run on doomed bank
Ex SVB head says social media 'fueled' run on doomed bank
by  AFP

The former head of Silicon Valley Bank blamed the lender's sudden collapse on a "social media fueled run" on it, according to congressional testimony released Monday. "Silvergate's failure and the link to SVB caused rumors and misconceptions to spread quickly online, leading to the start of what would become an unprecedented bank run," Becker said in his testimony.

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