Following the news that Credit Suisse Group AG would be sold to UBS Group AG for $3.3 billion, the beleaguered bank issued two internal memos to staff — one signed by Chairman Axel Lehmann and CEO Ulrich Körner, and a Q&A addressing subjects including job security, pay, bonuses and pensions.
The yield on 10-year Treasuries will head “much lower” if it breaches the 3.37% level, according to DoubleLine Capital LP Chief Executive Officer Jeffrey Gundlach.
A direct stimulus of 4 trillion yuan ($580 billion) paid directly to Chinese households is an option to spur a recovery in consumer spending that has been slowed by weak wage growth during the pandemic, a central bank adviser said.
Former Taiwan President Ma Ying-jeou said he plans to visit China later this month — the first such visit by an ex-leader of the self-run island — an announcement that comes as Taipei hosts a flurry of foreign delegations in a sign of its rising profile on the world stage.
A key barometer of oil market health has slumped as strikes in France worsened sentiment amid turmoil in the banking sector.
The Bank of Japan indicated a cautious stance toward pivoting from massive easing before achieving its inflation target, helping cool market speculation over any big monetary policy shift at the start of incoming governor Kazuo Ueda’s term.
Blume Ventures, an Indian early stage startup-backer, will demand portfolio companies headquartered abroad hold well-capitalized bank accounts in the South Asian country after the failure of Silicon Valley Bank.
Asian economies are in a better position than their developed-world counterparts to absorb shocks from a banking crisis that has roiled global financial markets, according to analysts at Morgan Stanley.
HSBC Holdings Plc led declines among financial stocks listed in Hong Kong as worries over risky bond exposures related to Credit Suisse Group AG spurred further risk-off sentiment.
The Philippine central bank may increase its key rate by 25 basis points or leave it unchanged at its policy meeting on Thursday, Finance Secretary Benjamin Diokno said.
