Allison Morrow

The former chief executive of Silicon Valley Bank plans to apologize before a Senate committee Tuesday, writing in prepared testimony that he believes no bank could have survived the run that gutted SVB in early March.

The Senate Banking Committee is set to grill executives from failed banks Silicon Valley Bank and Signature Bank. Markets will also be paying close attention to the latest retail sales and housing data for any signs that the economy is slowing.

Wall Street has a busy day on Thursday, with a slew of housing data, the latest jobless claims, another banking hearing and ongoing discussions over the debt ceiling crisis.

Disney is scrapping plans to build a new campus that would have brought thousands of employees to Florida, citing “changing business conditions,” according to a memo provided by a Disney spokesperson.

Disney’s battle with Florida’s Republican governor and soon-to-be presidential contender, Ron DeSantis, is playing out like a reality TV show. And while Disney’s tactical maneuvering — most recently, abandoning a $1 billion office project near Orlando — has dominated headlines, that partly overshadows a less-cinematic reality: Disney’s business is struggling.

Big Tobacco is reportedly positioning itself as a socially conscious investment.

Republican Sen. Lindsey Graham blasted the debt limit deal cut by House Speaker Kevin McCarthy and the White House, pointing to the level of defense spending in the proposal that he says will be detrimental to the Pentagon.

Dollar General’s stock just had one of its worst days ever on Wall Street. And that spells trouble for Main Street.

The US Securities and Exchange Commission sued Binance, world’s largest crypto exchange, accusing the company of commingling billions of dollars’ worth of customer funds while misleading investors and evading regulation.

“Through 13 charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure."