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
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
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 13 (Reuters) – Pfizer Inc (PFE.N) has reached a $43 billion deal with Seagen Inc (SGEN.O) to add innovative targeted therapies to its cancer treatment portfolio as it prepares to a sharp drop in sales of COVID-19 products and fierce competition for some top sellers. Monday’s deal, the largest in a series of Pfizer … Read more
Deposits fall faster than expected – SVB Capital raise, private equity injection, asset restructuring to help Stock drops more than 50% in afternoon trading March 9 (Reuters) – Shares of SVB Financial Group (SIVB.O) plunged more than 62% on Thursday, a day after the lender launched a $1.75 billion share sale to shore up its … Read more
The SEC has raised questions about the bank’s past financial statements SEC questions relate to consolidated cash flow statements, related controls Bank says 2022 financial results ‘have no impact’ Analyst describes bank as ‘major construction site’ ZURICH, March 9 (Reuters) – Credit Suisse has postponed publication of its annual report after a last-minute call from … Read more
Feb 25 (Reuters) – Billionaire investor Warren Buffett said on Saturday he had lost none of his enduring confidence in the U.S. economy and his company Berkshire Hathaway Inc (BRKa.N). In his annual letter to Berkshire shareholders, Buffett, 92, urged investors to focus on the bigger picture over the long term, rather than higher inflation … Read more
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