Tag: INVM
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Shares gain because bank support encourages investors
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 […]
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Nestle to investigate banking relationships after Credit Suisse collapse
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, […]
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Saudi Aramco inks $12.2 billion Chinese oil refinery, petchem complex deal
SINGAPORE, March 27 (Reuters) – Saudi Aramco (2222.SE) on Sunday signed an agreement with Chinese partners for an oil refining and petrochemical project in northeastern China expected to open in 2026 to meet growing demand from the land to fuel and chemicals. The project in the city of Panjin in Liaoning Province will be Aramco’s […]
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As confidence in the banking sector faltered, central banks called for more
NEW YORK, March 26 (Reuters) – Some investors and analysts are calling for more coordinated interventions by central banks to restore financial stability as they fear the turmoil in the global banking sector will continue amid rising interest rates. After the collapse of two US lenders this month and the Swiss government-orchestrated takeover of troubled […]
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Bank stress is pushing the US closer to recession, says Kashkari
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 […]
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Credit Suisse risks disciplinary action, says the Swiss regulator
ZURICH, March 26 (Reuters) – Swiss financial regulator FINMA said it was considering disciplinary action against managers at Credit Suisse (CSGN.S) after Switzerland’s second largest bank had to be bailed out by UBS (UBSG) last week .S). FINMA president Marlene Amstad told Swiss newspaper NZZ am Sonntag that it was “still open” whether new procedures […]
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Credit Suisse gained access to billions in liquidity over the weekend, says the Swiss finance minister
ZURICH, March 25 (Reuters) – Credit Suisse (CSGN.S) tapped the Swiss National Bank for “a large multibillion-dollar sum” over the weekend to secure 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 […]
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Biden said federal deposit insurance could be tapped further if banks fail
OTTAWA, March 24 (Reuters) – President Joe Biden said 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 US banks are in “quite” good shape, people’s savings were safe and he didn’t see […]
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US regulators say banking system ‘sound and resilient’
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 […]