Let's get right into today's need to know. Headlines.
Big banks are swooping in to rescue First Republic Bank,
jpmorgan Morgan Stanley and other banks are trying
to save this struggling bank from collapse together.
They're depositing a total of $30 billion. Now, in a joint statement,
the group says what they're doing shows that they
are confident not only in First Republic but also banks
of all sizes amid broad contagion fears after two other
regional banks collapsed in just the past two weeks.
Kristin shoulder is going to be explaining what this means
for you and the banking sector later in the show.
And shortly after former police officer,
Derek Chauvin killed George Floyd back in 2020.
The Minneapolis Department of Revenue got a tip about suspicious tax documents
that he and his then wife filed today.
Chauvin pled guilty to two counts of tax evasion.
Prosecutors say Chauvin and his then wife failed
to pay taxes on almost $465,000 of joint income
from 2014
through 2019, including
$95,000 that he earned as an off duty security officer.
He was sentenced to 13 months in prison for tax evasion,
which he'll serve concurrently with the more than 22 years he is now serving
after he was convicted of killing Floyd.
And we don't have enough money for you to retire.
So you don't need to think about retiring for a few more years.
That's what French President Emmanuel Macron is telling his people and now
thousands of them are in the streets protesting his proposal
to raise the national retirement age from 62 to 64.
The French president is using special constitutional powers to
enact the proposed pension reform bill without a vote.
A government spokesperson says the aim here is
to balance the accounts without raising taxes or cutting pensions.
Various options are on the table,
but all of them include raising the retirement age.
Another drug maker is cutting the price of insulin.
Sanofi just announced it's dropping the price of one of its insulin drugs by 78%.
Lantos is the company's most widely prescribed insulin in the US.
The company also says it's setting a $35
a month cap for patients with private insurance.
Now you may remember Eli Lilly and Novo
Nordisk also lowered their prices this month.
Sad news out of Hollywood actor Lance Reddick was
found dead in his studio city home today.
He died of natural causes.
According to variety,
he starred in the John Wick franchise and was a series regular on the wire.
If you go see John Wick chapter four, you will see Reddick playing Karen again.
This movie hits theaters next week.
Hollywood star was also supposed to appear in the upcoming ballerina spin off
was just 60 years old.
Ford is issuing a safety recall for Fusion and Lincoln M K Z sedans,
they apparently could have faulty brake fluid hoses.
The automaker says these hoses can rupture and therefore your vehicle may require
more distance to stop The National
Highway Traffic Safety Administration says that dif
increases the risk of a crash.
This recall covers about 1.2 million Ford Fusions made between 2013 and
2018 and roughly 113,000 Lincoln MK Zs from the same years.
Now, if you have one of these cars,
take it to a dealer and get that hose fixed.
March madness is here.
The N C double A men's basketball tournament
kicked off on Thursday in the first round.
The Maryland
Terrapins took down the West Virginia Mountaineers.
Number 13 seed Furman University's stunned.
Number four seed U V A with the last SECA bucket.
All eyes were on Princeton though it scored
a big victory against Arizona.
This is the third straight N C double A tournament where a number 15 seed
upset a number two seed.
The first round continues today. The second round
kicks off tomorrow.