JPMorgan’s quarterly profit surges 52% on robust consumer business

Regulators took control of Silicon Valley Bank and Signature Bank as depositors yanked their funds, marking the second and third largest collapses in U.S. history.

Revenue at the lender’s consumer and community banking unit rose 80 per cent to $5.2-billion. Its Wall Street investment banking business was weighed down by tepid markets for mergers, acquisitions and stock sales.Your Globe

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Warren Buffett says people should not panic about U.S. banking industry, safety of depositsThe chairman of Berkshire Hathaway said that while more banks will fail, the industry’s recent problems do not resemble those that helped trigger the 2008 global financial crisis
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