LONDON/HONG KONG, March 20 (Reuters) – Bitcoin hit its highest level in nine months on Monday as turmoil in the banking sector pushes some investors to turn to digital assets, as the cryptocurrency has had its best week in four years. The biggest cryptocurrency rose as high as $28,567, its highest level since mid-June, and … Read more
San Francisco-based First Republic Bank (NYSE: FRC) seems to be sinking further into the abyss with more downgrades coming from rating agencies. On Sunday, March 19, S&P Global (NYSE: SPGI) further downgraded FRC’s credit rating to “B-plus” from “BB-plus”, by a CNBC report. The rating agency also downgraded other ratings for FRC and raised the … Read more
34 minutes ago European banking stocks slide 31 minutes ago European stocks open lower European stocks were down at the start of trade as investors valued a news-rich weekend that culminated in UBS’s takeover of Credit Suisse. The Stoxx 600 index was down 1.4% at 8.30am London time, with losses across major exchanges and across … Read more
The global automotive industry is in transition as consumers increasingly shun internal combustion engine vehicles for electric vehicles. That means electric vehicles are grabbing a bigger share of the global car market, according to French investment bank Societe Generale, with a third of cars sold in China now electric. The “sharp acceleration” in EV adoption … Read more
By David Lawder, David French and Lananh Nguyen WASHINGTON/NEW YORK (Reuters) – A U.S. official said on Sunday the deposit outflows that had left many regional banks reeling from the Silicon Valley Bank failure had slowed and, in some cases, reversed as investors tried to determine whether the crisis was contained. . Shares of regional … Read more
The US Federal Reserve announced a coordinated effort with five other central banks to keep the US dollar in circulation amid a series of banking blasts in the US and Europe. The Fed’s March 19 announcement comes just hours after Swiss bank Credit Suisse was acquired by UBS for $3.25 billion as part of a … Read more
Posted: March 19, 2023 7:05 PM ET Senator Elizabeth Warren is calling for an independent investigation into the Federal Reserve and “the entire regulatory system” after the worst banking sector crisis in more than a decade. Speaking on ABC News’ “This Week” on Sunday, the Massachusetts Democrat said the chaos of the past two weeks … Read more
Asian regulators issued reassuring statements on Monday that their banking systems have remained robust and stable after Swiss banking giant UBS agreed to buy rival Credit Suisse. Swiss regulators played a key role in orchestrating the forced takeover, to stem a wider banking crisis that would threaten the global system. From Hong Kong to Australia … Read more
Markets: European investors will be on the lookout for turbulence caused by UBS’s government-brokered takeover of Credit Suisse. Asian stocks fell on Monday as big banks like HSBC were hit hard after the deal erased Credit Suisse’s $17 billion in additional Tier 1 debt, casting doubt on the hierarchy of claims in the event of … Read more
Business By Emma Colton, Fox Business March 19, 2023 | 9:13 p.m. Dollar Tree has decided to stop selling eggs due to soaring prices. REUTERS/Mario Anzuoni/File Photo Dollar Tree pulled eggs from store shelves as prices soared, the company said. Egg prices have risen 60% over the past year, prompting the popular discount store to … Read more
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