>>U.S. Banks Rescue First Republic Bank

(New York, NY) -- America's biggest banks are coming to the rescue of First Republic Bank. Eleven banks deposited a total of 30-billion dollars into First Republic after depositors pulled billions of dollars out of the bank. The deal was put together by Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome Powell and other U.S. power brokers. In a joint statement Thursday, the financial leaders said, "This show of support by a group of large banks" demonstrates "the resilience of the banking system." Two banks collapsed in the past week, Silicon Valley Bank and Signature Bank.

 

>>Goldman Sachs Says 35-Percent Chance Of Recession

(New York, NY) -- Turmoil in the banking industry is prompting concern about the odds of a recession. Goldman Sachs economists predict there's a 35-percent chance the U.S. will experience a recession in the next 12 months. The prediction by Goldman increased by ten percentage points following the fall of Silicon Valley Bank earlier this month. Recession fears have remained prevalent as the Federal Reserve continues to hike interest rates to tame inflation.

 

>>Building Permits, Housing Starts Rise In February

(Washington, DC) -- The nation's housing sector was strong in February. There were just over one-and-a-half million permits last month, which was a nearly 14-percent jump from January. That's according to new reports about building permits and housing starts. Meantime, housing starts saw a nearly ten-percent jump to one-point-four-five million.

 

>>Ford Recalls Over 1M Cars Over Brake Hose Issue

(Dearborn, MI) -- Ford is recalling more than a million cars over a brake hose issue. The National Highway Traffic Safety Administration says Ford Fusions and Lincoln MKZs sold between 2013 and 2018 are affected. It has to do with front brake hoses that may rupture and leak brake fluid. The agency says owners will be notified by letter and dealers will replace the front brake hoses for free.