Tag: PVE
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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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Factbox: Warren Buffett’s Investments in Financial Firms
NEW YORK, March 23 (Reuters) – Berkshire Hathaway’s Warren Buffett has been in talks with senior officials in the Biden administration about the banking crisis, leading some to speculate that Buffett might consider investing in the sector following the collapse of Silicon Valley Bank . Buffett is known to invest during tough times for the […]
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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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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 […]
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SVB Financial Group accuses FDIC of cutting off the money
March 21 (Reuters) – SVB Financial Group (SIVB.O) said on Tuesday that the US Federal Deposit Insurance Corporation had taken “improper actions” to close it off from cash held at its former subsidiary Silicon Valley Bank, which has been banned by regulators seized to stop a run on the national bank. SVB Financial made the […]
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US sees deposits stabilize while some regional banks falter
WASHINGTON/NEW YORK, March 19 (Reuters) – A US official said on Sunday that the deposit outflows that rocked many regional banks in the wake of Silicon Valley Bank’s failure had slowed, and in some cases reversed, as investors sought to secure whether the crisis had been contained. Shares of regional banks such as First Republic […]
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ECB watchdog sees no contagion of Europe after US and Swiss bank rescues
March 17 (Reuters) – European Central Bank regulators see no contagion for eurozone banks from the recent turmoil, a source said Friday, after US lenders First Republic Bank (FRC.N) tossed a $30bn lifeline and record amounts from the Federal Reserve. To book. Major US banks stepped in on Thursday to bail out the San Francisco-based […]
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Credit Suisse secures $54 billion lifeline as authorities scramble to prevent global banking crisis
March 16 (Reuters) – Credit Suisse (CSGN.S) said on Thursday it would borrow up to $54 billion from the Swiss central bank to bolster liquidity and investor confidence after a slump in its shares raised fears of a global banking crisis . The Swiss bank’s announcement on Thursday helped counter heavy selling in financial markets […]
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First Republic spoke with private equity before securing funding sources
NEW YORK, March 15 (Reuters) – First Republic Bank (FRC.N) spoke to at least one private equity firm about raising capital before it secured funding from JPMorgan Chase & Co (JPM.N) and US authorities intervened with support for the industry, said two sources familiar with the matter. The talks, previously unreported, shed new light on […]
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Bank stocks are falling again as turmoil in the SVB market continues
LONDON/SINGAPORE, March 13 (Reuters) – Bank stocks in Europe and Asia plummeted Monday as the United States bailed out deposits from collapsed tech-focused lender Silicon Valley Bank, failing to reassure investors that other banks remain financially sound. The European STOXX banking index (.SX7P) fell 4.3%, after losing 3.78% on Friday, putting it on track for […]