Eleven of the biggest American banks have announced a US$30-billion rescue package for First Republic Bank, in an effort to stop the California-based bank from becoming the third to fail in less than a week. This comes after Silicon Valley Bank (SVB) and New York's Signature Bank.

Globa's Anne Gaviola, along with Brett Chang of the Peak podcast, discuss how widespread alarm over a bank crisis contagion and what other banks are at risk of failure.

Plus, Flair Airlines has filed a $50-million against a leasing firm that seized four of its planes this week, with the firm alleging the low-cost airline missed payments over several months.

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