SVB Financial's Bankruptcy Filing and First Republic Bank's $30B Lifeline: Top Stories Today.

SVB Financial Group has filed for Chapter 11 bankruptcy to preserve value, while First Republic Bank received a $30 billion lifeline from Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell, and JPMorgan Chase CEO Jamie Dimon. Playboy reported a $4.9 million loss on its Ethereum holdings from NFT collection, and Tesla has reportedly submitted applications to expand production at Gigafactory Berlin-Brandenburg to one million vehicles annually. Sanofi has followed Lilly and Novo Nordisk to lower the price of its best-selling insulin product, Lantus, by 78%. Pfizer is working to develop new packaging for migraine drug over child safety and poisoning concerns. Norwegian company Loke Marine Minerals has acquired deep sea mineral business UK Seabed Resources from Lockheed Martin Corp. Baidu has received a permit to provide fully driverless robotaxi services in Beijing, becoming the first provider of fully driverless robotaxi services in the capital city of any country worldwide. Astra Space Inc intends to avoid Nasdaq delisting and seeks a 180-day extended compliance period. Private equity firm Motive Partners is in talks to snap payments software provider ACI Worldwide. Meta Platforms Inc initiated job cuts as planned, starting with 1,500 recruiting and human resources employees.