US Credit Crunch Raises Risk of Fed Slamming Brakes Too Hard
A banking crisis in a matter of days has emerged to potentially choke off a red-hot economy, raising the odds of a recession that the Federal Reserve has been working to avoid.
A banking crisis in a matter of days has emerged to potentially choke off a red-hot economy, raising the odds of a recession that the Federal Reserve has been working to avoid.
Canadian taxpayers may end up taking a loss of C$20 billion (nearly $15 billion) on the government-owned Trans Mountain Pipeline after costs to expand it skyrocketed, according to Morningstar Inc.
On Sunday, one of Switzerland’s biggest newspapers featured a drawing of Credit Suisse Group AG’s headquarters in flames. The image, meant to evoke what the headline said were the bank’s “last days,” was also a metaphor for the embarrassment and consternation the lender’s swift unraveling has caused in its home country.
As many as 43,000 people are estimated to have died in Somalia last year as a result of the east African nation’s worst drought in more than four decades, according to the government and United Nations agencies.
Switzerland’s banking association said the takeover of Credit Suisse Group AG by UBS Group AG and the measures taken by the Swiss National Bank and Swiss federal authorities to shore up the banking sector “make good sense” in a statement published on their website Monday.
GoTo Group reported a narrower adjusted loss for the fourth quarter, helped by extensive cost cuts at the Indonesian ride-hailing and e-commerce provider.
The Qatar Investment Authority’s stake in Credit Suisse Group AG isn’t the sovereign wealth fund’s only source of pain following UBS Group AG’s cut-price acquisition. It is also the bank’s major landlord in London.
The turmoil striking the banking sector will add to a long list of headwinds causing the UK economy to flatline in 2023, Goldman Sachs has warned, as the crisis threatens to curtail lending.
The Federal Deposit Insurance Corp. extended the bidding process for Silicon Valley Bank after receiving “substantial interest” from multiple potential buyers.
A simple prompt can generate a three-second video on a new AI tool from the startup Runway, hinting at a future of AI-created films and videos