Tag: MCE
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China’s industrial earnings slump is deepening amid weak demand and high costs
China Jan-Feb Industrial Profit -22.9% y/y vs -4.0% for 2022 Recovery far from solid, demand and cost issues persist BEIJING, March 27 (Reuters) – The slump in earnings for Chinese industrial companies deepened in the first two months of 2023, weighed down by weak demand and stubbornly high costs as the world’s second-largest economy struggled […]
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Morning offer: Banks leak money
A look at the day ahead at Wayne Cole’s European and global markets It’s been a quiet Monday so far with mixed Asian stock markets, but US and European stock futures higher, perhaps because they made it through a weekend without another bank failure. There is some relief that First Citizens BancShares Inc (FCNCA.O) is […]
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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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US Considers Bank Support, Gives First Republic Time – Bloomberg News
March 25 (Reuters) – US authorities are considering expanding an emergency credit facility that would provide more support to banks, in a bid to give First Republic Bank (FRC.N) more time to strengthen its balance sheet, Bloomberg News reported. on Saturday. All deliberations are in the early stages and an expansion of the Federal Reserve’s […]
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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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Rivian Moves Workers to Illinois EV Plant to Speed ​​Up Production – WSJ
March 24 (Reuters) – Rivian Automotive Inc (RIVN.O) is moving parts of its manufacturing engineering team to Illinois to speed up production, the Wall Street Journal reported on Friday, citing a person familiar with the matter. The reorganization, which is expected to be announced soon, would mean those working on manufacturing engineering would be asked […]
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Wall Street ends volatile week higher as Fed officials ease banking fears
The KBW Regional Bank index is recovering US-listed shares of Deutsche Bank slide Actvision surges as regulators drop concerns over Microsoft deal Indexes up: Dow 0.41%, S&P 0.56%, Nasdaq 0.31% NEW YORK, March 24 (Reuters) – US stocks closed higher on Friday, marking the end of a tumultuous week in which Federal Reserve officials calmed […]
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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 […]