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An automated teller machine (ATM) outside a Silicon Valley Bank branch in Santa Monica, Calif., on March 13, 2023.
An automated teller machine (ATM) outside a Silicon Valley Bank branch in Santa Monica, Calif., on March 13, 2023.Lauren Justice / Bloomberg via Getty Images

Tuesday’s Mini-Report, 3.14.23

Today’s edition of quick hits.


Today’s edition of quick hits.

* DOJ takes an interest in SVB: “The Justice Department has opened an investigation into last week’s collapse of Silicon Valley Bank, three sources familiar with the matter confirmed to NBC News on Tuesday. The department’s probe is in its early stages, and part of it will examine whether bank executives sold any stock prior to the collapse, two sources familiar with the matter said.”

* In international airspace: “A Russian fighter jet harassed and then collided with a U.S. drone over the Black Sea on Tuesday, forcing the U.S. to bring the MQ-9 Reaper drone down in international waters, the U.S. European Command said.”

* Inflation data: “Price growth cooled to an annual rate of 6% in February, according to data released Tuesday by the U.S. Bureau of Labor Statistics. The annual reading was lower than January’s 6.4% year-over-year level and in line with economists’ forecasts. On a monthly basis, prices rose 0.4% in February from January, down slightly from January’s 0.5% increase, the latest Consumer Price Index reading showed.”

* A lawsuit worth watching: “The Ohio Attorney General’s office filed a complaint against Norfolk Southern Railway in federal court on Tuesday, alleging that the company violated hazardous waste and water quality laws and was negligent for causing the train derailment and toxic chemical releases last month in East Palestine, Ohio.”

* The White House can credibly take some credit for news like this: “Novo Nordisk A/S is set to cut the U.S. list prices for several insulin drugs by up to 75%, the latest big drugmaker to make steep price reductions amid pressure to curb diabetes-treatment costs. Novo, one of the biggest sellers of insulin in the U.S. and around the world, said Tuesday it would cut the list price of its NovoLog insulin by 75% and the prices for Novolin and Levemir by 65% starting in January 2024.”

* The AUKUS partnership: “President Joe Biden and the leaders of Australia and the United Kingdom on Monday announced that Australia will purchase nuclear-powered attack submarines from the U.S. to modernize its fleet amid growing concern about China’s influence in the Indo-Pacific.”

* More discouraging news on hate crimes: “Hate crimes in the U.S. rose sharply in 2021, with victims most commonly targeted because of their race or ethnicity, the FBI said Monday after earlier incomplete data had suggested a decline.”

* The EPA’s move on PFAS chemicals: “The Environmental Protection Agency on Tuesday proposed the first federal limits on harmful ‘forever chemicals’ in drinking water, a long-awaited protection the agency said will save thousands of lives and prevent serious illnesses, including cancer.”

See you tomorrow.