Major U.S. banks inject $30 billion to rescue First Republic Bank

America's largest banks have moved to shore up the country's fourteenth largest bank to ease fears that the regional lender could be the next to fall after the collapse of Silicon Valley Bank. The European Central Bank remains focused on battling sky-high inflation despite market turmoil over fears of a widening banking crisis. Tropical Cyclone Freddy has caused over 300 deaths in Malawi.