SYDNEY, March 19 (Reuters) – Australia has “absolutely” made no promise to support the United States in a military dispute over Taiwan in exchange for a deal to acquire nuclear submarines from attack, Australian Defense Minister Richard Marles said on Sunday. Australia, the United States and Britain unveiled the multi-decade AUKUS project on Monday. Canberra … Read more
March 19 (Reuters) – Talks to rescue Credit Suisse (CSGN.S) continued on Sunday as UBS AG (UBSG.S) demanded $6 billion from the Swiss government to cover costs if it were to buy his struggling rival, a person with knowledge of the talks said. Authorities are scrambling to resolve a crisis of confidence in the 167-year-old … Read more
March 18 (Reuters) – BlackRock Inc (BLK.N) Vice Chairman Philipp Hildebrand takes part in talks as Swiss officials try to hammer out a deal for UBS Group (UBSG.S) to take over Credit Suisse Group AG (CSGN.S), Bloomberg News reported on Saturday, citing unidentified sources. Asked about the report, BlackRock spokesman Ryan O’Keeffe said in a … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
March 18 (Reuters) – Credit Suisse Group AG (CSGN.S) entered a breakthrough weekend after some rivals grew cautious about their dealings with the bank as regulators urged it to strike a deal with its Swiss rival UBS AG (UBSG.S). Dixit Joshi, chief financial officer of Credit Suisse, and his teams will meet this weekend to … Read more
First Republic Bank tumbles by suspending its dividend SVB Financial files for bankruptcy protection FedEx jumps on boost to full-year earnings forecast Indices down: Dow 1.31%, S&P 1.17%, Nasdaq 0.80% NEW YORK, March 17 (Reuters) – Wall Street fell on Friday at the end of a tumultuous week marked by the unfolding crisis in the … Read more
Shares of regional banks fell on Friday even after the nation’s biggest lenders agreed to inject $30 billion in uninsured deposits into First Republic Bank . The bailout, involving several of the largest US banks, including Bank of America (ticker: BAC), Citigroup (C) and JPMorgan Chase (JPM), initially brought some relief to regional bank stocks, … Read more
WASHINGTON, March 16 (Reuters) – The U.S. banking system remains strong and Americans can be confident their deposits will be there when needed, Treasury Secretary Janet Yellen said on Thursday, although she denied that recent moves emergency following two major bank failures meant that a general government guarantee now existed for all deposits. In his … Read more
March 16 (Reuters) – Credit Suisse (CSGN.S) said on Thursday it would borrow up to $54 billion from the Swiss central bank to bolster liquidity and investor confidence, after a slump in its equities has intensified fears of a global banking crisis. The bank’s announcement, which came in the middle of the night in Zurich, … Read more
WASHINGTON, March 15 (Reuters) – The Biden administration has demanded that Chinese owners of TikTok divest their shares in the popular video app or face a possible U.S. ban, the company told Reuters on Wednesday. The move, first reported by The Wall Street Journal, is the most dramatic in a string of recent moves by … Read more
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