US banks feel the heat

Available for over a year

Banks in the United States have been under pressure since Monday’s rescue of First Republic. Shares on Wall Street have been falling for some - trading in PacWest, seen as one of the weakest of the mid-sized regional banks, was briefly halted for volatility and was down 25 per cent by noon in New York. Western Alliance was down more than 20 per cent. Thousands of Hollywood TV and movie screenwriters are downing tools after last minute talks broke down over pay. The Writers Guild of America (WGA) strike, the first in 15 years, has seen more than 11,000 writers walking out. Tuesday’s late-night chat shows are expected to be the first to shut down. Forthcoming films could face delays. And we report on the desperate measures people are taking in Sri Lanka - one of the hardest hit economies in the world at the moment. It's economy has collapsed by nearly a fifth in the last three years, and the latest central bank report has suggested further recession is inevitable this year too. (Picture: Courtesy Getty Images)