Bloomberg Business

First Republic Rescue May Rely on US Backing to Reach a Deal

Wall Street leaders and US officials discussing an intervention at First Republic Bank are exploring the possibility of government backing to encourage a deal that would shore up the lender, people with knowledge of the situation said. The shares rose in early trading.

Stocks Waver as Traders Await the Fed; Pound Rises: Markets Wrap

European stocks fluctuated in a narrow range and US equity futures edged lower as investors prepared for the Federal Reserve’s much-anticipated interest-rate decision. The pound strengthened after a surprise rise in UK inflation increased pressure for action from the Bank of England.