Tag: TOPNWS
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Nvidia announces technology to accelerate chip design at AI conference
March 21 (Reuters) – Nvidia Corp. (NVDA.O) Chief Executive Jensen Huang unveiled a new product on Tuesday to accelerate semiconductor design as it rolled out a range of new artificial intelligence technologies based on its chips and software. Huang made the remarks at GTC, the company’s annual conference for software developers. Analysts look forward to […]
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Exclusive: EU drafts plan to allow electric cars with combustion engine
Brussels proposes an exception for electric fuel cars from 2035 Germany is still examining EU draft proposal Berlin sees the technological state as problematic Goal to make a decision by Thursday BERLIN/BRUSSELS, March 21 (Reuters) – The European Commission has drawn up a plan to allow the sale of new combustion engine cars after 2035 […]
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Hardline US Republicans Oppose Bank Deposit Guarantees Above $250,000 Limit
WASHINGTON, March 20 (Reuters) – Hardline Republicans in the House of Representatives vowed Monday to oppose any universal federal guarantee on bank deposits above the current limit of $250,000. while financial confidence wavers. The Republican House Freedom Caucus said in a statement that the Federal Reserve should wind down its extraordinary funding facility created March […]
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PIMCO lost $340 million on the write-down of Credit Suisse AT1 bonds – source
NEW YORK, March 20 (Reuters) – Bond giant PIMCO lost about $340m on a class of Credit Suisse bonds wiped out by its takeover by UBS (UBSG.S), with the US investment manager’s overall exposure to the Swiss lender running low in billions, said a source familiar with the situation. Swiss authorities on Sunday decided to […]
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FDIC to break up SVB, aim for separate private unit sales
March 20 (Reuters) – The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposit division and its private bank after failing to find a buyer for the failed bank last week found a lender. It will bid for Silicon Valley Private […]
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The quest for safety is easing as markets process Credit Suisse’s bailout
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 […]
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UBS is in talks to acquire Credit Suisse-FT
17 March (Reuters) – Banking giant UBS (UBSG.S) is in talks to acquire all or part of Credit Suisse (CSGN.S). Times reported Friday. The Swiss National Bank and regulator FINMA are organizing the talks in an effort to build confidence in the country’s banking sector, the report said, citing people familiar with the matter. On […]
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Wall Street slides on fears of contagion from banking crisis
First Republic Bank tumbles over dividend suspension SVB Financieel seeks bankruptcy protection FedEx jumps on full-year profit forecast Indexes down: Dow 1.31%, S&P 1.17%, Nasdaq 0.80% NEW YORK, March 17 (Reuters) – Wall Street fell on Friday at the end of a tumultuous week marked by the unfolding banking sector crisis and the gathering storm […]
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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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The US banking system is sound, but not all deposits are guaranteed, Yellen tells senators
WASHINGTON, March 16 (Reuters) – The US banking system remains sound and Americans can be confident that their deposits will be there when they are needed, Treasury Secretary Janet Yellen said on Thursday, though she denied that recent bailouts following two major bank failures mean there is there was now a general government guarantee for […]