Tag: INVM1
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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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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 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 […]
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Central banks continue to raise interest rates amid banking turmoil
March 23 (Reuters) – The Bank of England followed the Federal Reserve and Swiss National Bank in raising interest rates on Thursday as policymakers continued their battle against inflation in the face of the instability that rippled through the global banking system this month . Investors had wondered whether central banks could continue tightening policies […]
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Citigroup CEO declares ‘this is not a credit crisis’ after US bank failures
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 […]
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US authorities focused on stability, First Republic as Fed meets
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 […]