MSCI All-World index up 0.3%, dollar falls UBS rehires Ermotti as head of the merged unit Alibaba up 13%, other Chinese tech stocks up Oil rises, gold falls LONDON, March 29 (Reuters) – Global stocks rose on Wednesday as investors took heart from greater levels of stability in the banking sector, but the sense of … Read more
CFTC accuses Binance of ‘deliberate evasion’ of federal law Binance’s compliance was ‘ineffective’ under CEO – CFTC CFTC cites practices first reported by Reuters last year March 27 (Reuters) – The world’s largest crypto exchange Binance and its CEO and founder Changpeng Zhao were charged on Monday by the US Commodity Futures Trading Commission (CFTC) … Read more
ZURICH, March 28 (Reuters) – Nestle (NESN.S) will examine its banking relationships following the planned acquisition of Credit Suisse (CSGN.S) by UBS (UBSG.S), the food group’s CEO Mark Schneider said on Tuesday. The world’s largest food group was a customer of Credit Suisse, Schneider told broadcaster TeleZueri in an interview to be shown Tuesday evening, … Read more
WASHINGTON/FRANKFURT, March 26 (Reuters) – Stress in the banking sector is under close scrutiny due to its potential to trigger a credit crunch, a US Federal Reserve policymaker said on Sunday, while a European Central Bank official also suggested a possible credit tightening. . Authorities around the world are on high alert about the fallout … Read more
ZURICH, March 25 (Reuters) – Credit Suisse (CSGN.S) tapped the Swiss National Bank for “a large multibillion-dollar sum” over the weekend to safeguard its liquidity, the country’s finance minister Karin Keller-Sutter told me. Saturday to the Swiss broadcaster SRF. . The troubled Swiss bank had said last week it planned to borrow up to 50 … Read more
OTTAWA, March 24 (Reuters) – President Joe Biden said on Friday that federal deposit insurance could be tapped for deposits over $250,000 if other US banks fail, expressing confidence that medium-sized US banks would ease industry tensions. to survive. Biden said U.S. banks are in “quite” good shape, people’s savings were safe and he didn’t … Read more
WASHINGTON, March 24 (Reuters) – The multi-regulator US Financial Stability Oversight Council agreed on Friday that the US banking system remains “sound and resilient” despite pressure on some institutions, the US Treasury Department said in its latest statement to calm jittery markets and bank depositors. Speaking to a private meeting chaired by Treasury Secretary Janet … Read more
March 23 (Reuters) – The Bank of England followed the Federal Reserve and the Swiss National Bank on Thursday in continuing rate hikes, saying the UK banking sector was strong enough to withstand the instability that rippled through markets this month. Relentless rate hikes to contain inflation are among the factors responsible for the worst … Read more
March 22 (Reuters) – Jane Fraser, CEO of Citigroup Inc (CN), expressed confidence in US banks on Wednesday after a series of closures upset investors and fueled turmoil in global financial markets. “The banking system is pretty healthy,” and major and regional banks are well capitalized, Fraser told the Economic Club of Washington DC on … Read more
ZURICH, March 22 (Reuters) – The fall of Credit Suisse (CSGN.S) has seriously damaged Switzerland’s credibility as the world’s leading wealth management center, experts warn, damaging Switzerland’s reputation for stability, regulation and corporate governance is questioned. Plagued by years of scandals and losses, Credit Suisse had been battling a crisis of confidence for months before … Read more