* House Republicans pass debt-ceiling and spending-cuts plan, but…
* The GOP debt-ceiling bill is expected to be dead on arrival in the Senate
* Weak tax collections suggest US may default on its debt as soon as early June
* US and S. Korea unveil landmark deal to counter N. Korean nuclear threat.
* The risk from ‘shadow banks’ has increased in wake of SVB collapse
* US durable goods orders rebound sharply but business investment falls again
* Atlanta Fed’s GDPNow model sharply downgrades Q1 growth estimate:
First Republic Bank is on the verge of collapse, says an analyst. If true, the news will provide another shock to the banking industry, which has weathered several bank implosions since March. “It’s becoming clearer each day” that First Republic is “toast,” notes Don Bilson at Gordon Haskett, a researcher firm, in a note Wednesday. “The only question that really needs to be answered is whether the [Federal Deposit Insurance Corporation] moves in before the weekend or during the weekend, which is when it usually does its thing,” CNN reports.