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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
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HONG KONG, March 28 (Reuters) – Global stocks and US bond yields rose on Tuesday, as a US regulator-backed deal by First Citizens BancShares to buy the failed Silicon Valley Bank allayed wider concerns about problems in the sector. MSCI’s broadest index of Asia-Pacific stocks outside Japan (.MIAPJ0000PUS) was up 0.3% by early morning in … Read more
Asian Fairs: Nikkei up 0.3%, S&P 500 and European futures up Eyes on Deutsche Bank, credit default swaps Deposits flow from banks to money market funds SYDNEY, March 27 (Reuters) – Asian stocks struggled on Monday as US and European stock futures rose higher on hopes authorities sought to shield stress in the global banking … 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
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
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
NEW YORK, March 22 (Reuters) – As the beleaguered First Republic Bank (FRC.N) weighs its options, Treasury Secretary Janet Yellen said on Wednesday there is no discussion on insurance for all deposits, creating a “bull case” scenario becomes more difficult for the stock. First Republic, whose shares have lost much of their value since the … Read more
March 22 (Reuters) – US authorities will consider moves on Wednesday to further strengthen financial stability, along with scenarios to address the problems regional lender First Republic Bank continues to face. While the recent market turmoil has eased, the Federal Reserve meeting is now at the center of attention, with traders arguing over whether the … Read more
March 21 (Reuters) – Nvidia Corp (NVDA.O) Chief Executive Jensen Huang unveiled new cloud computing services on Tuesday with Oracle Corp (ORCL.N) and others as it rolled out a range of new artificial intelligence technologies based on its chips and software. “AI’s iPhone moment has begun,” Huang said in the virtual keynote address at GTC, … Read more
Credit Suisse plunges more than 60% after an emergency takeover over the weekend European Banks Backtrack Some Ground After Initial 5% Drop Treasury bonds and gold rise as investors seek safety Wall Street opens flat, First Republic Bank collapses LONDON, March 20 (Reuters) – European banking stocks fought back from an early slump on Monday … Read more