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
NEW YORK, March 17 (Reuters) – Misguided U.S. stocks have gained an unexpected ally in recent days: a historic plunge in bond yields. Yields on US government bonds fell sharply this week, with some durations marking their biggest declines in decades, as investors bet the Federal Reserve would likely rein in its aggressive rate hike … 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
February Retail Sales, Lower Producer Inflation Credit Suisse US shares hit all-time low Shares of regional banks fall Indices down: Dow 1.82%, S&P 1.55%, Nasdaq 0.88% NEW YORK, March 15 (Reuters) – U.S. stocks fell sharply on Wednesday as turmoil at Credit Suisse rekindled fears of a banking crisis, eclipsing bets of a smaller rise … Read more
NEW YORK, March 15 (Reuters) – First Republic Bank (FRC.N) has spoken to at least one private equity firm about raising capital ahead of securing funding from JPMorgan Chase & Co ( JPM.N) and US authorities have stepped in to support the industry, two sources familiar with the matter said. The conversations, which have not … Read more
NEW YORK, March 14 (Reuters) – Charles Schwab (SCHW.N) has ample cash, the chief executive of the bank and brokerage firm said on Tuesday, to allay concerns about a “doomsday scenario” that has weighed heavily on bank stocks after the bankruptcy of two US lenders since Friday. “We haven’t raised any capital and we’re not … Read more
March 14 (Reuters) – Shares of U.S. banks jumped on Tuesday, recovering some ground after the failures of Silicon Valley Bank and Signature Bank triggered strong selling from investors already worried about the impact on lenders from rising interest rates. Concerns about possible contagion had also sent bank stocks in Asia and Europe tumbling as … Read more
March 14 (Reuters) – Facebook parent company Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs, the first major tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares jumped 6% on the news. The widely anticipated job cuts are part of … Read more
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