EU Gathers €7 Billion Pledges of Quake Aid to Turkey, Syria
The European Union and international donors pledged €7 billion ($7.5 billion) for reconstruction after last month’s deadly earthquakes that killed over 55,000 people in Turkey and Syria.
Bloomberg Business
First Republic Rescue Proposal Would Convert Deposits to Capital
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has hatched a new plan to aid First Republic Bank that would convert some or all of the $30 billion in deposits that a group US banks injected into a capital infusion for the struggling California lender, according to people familiar with the situation.
First Citizens Said to Continue Pursuit of Silicon Valley Bank
First Citizens BancShares Inc., one of the biggest buyers of failed US lenders, is still hoping to strike a deal for all of Silicon Valley Bank, according to people familiar with the matter.
Credit Suisse’s Collapse Reveals Some Ugly Truths About Switzerland for Investors
For decades, Switzerland has sold itself as a haven of legal certainty for bond and equity investors. The collapse of Credit Suisse Group AG revealed some unpleasant home truths.
Bank Crisis Survivors Remember How Fast Dominoes Can Fall
Steve Chiavarone doesn’t want to scare anyone, but what he remembers most from the last banking crisis was how sure most people were that it wouldn’t happen.
Key Oil Gauge Collapses as Bank Turmoil Shatters Bullish Nerve
A favored trade of the world’s hedge funds sunk as oil held close to 15-month lows with banking turmoil shaking confidence that a recovery in China will be enough to reinvigorate global demand.
Central Banks Signal No Dash for Dollars in New Swap Lines
(Bloomberg) — Global central banks witnessed no dash for dollars after uniting with the Federal Reserve to ease access to supplies of the US currency, an indication the latest bout of banking turmoil may not be causing undue stress to the financial system.
Pimco, Invesco Face Losses in Credit Suisse AT1 Debt Writedown
Pacific Investment Management Co. and Invesco Ltd. are among the largest holders of Credit Suisse’s so-called Additional Tier 1 bonds that have been wiped out after the bank’s takeover by UBS Group AG.
Ukraine Latest: US Offers More Ammunition; Xi Begins Putin Visit
The US announced $350 million in ammunition, river boats and other equipment for Ukraine’s military, while the European Union agreed on plans to jointly procure 1 million rounds to support Kyiv.
Texas Adds HSBC to Energy-Boycotters Blacklist in ESG Crackdown
Texas added HSBC Holdings Plc to its list of financial firms that “boycott” the fossil-fuel industry, potentially limiting what business the bank can conduct with the nation’s second-most-populous state.