Taiwan is set to name its top financial regulator as the main authority overseeing crypto as it steps up control over the industry following the market turmoil triggered by the collapse of the FTX crypto empire.
Credit Suisse Group AG will go ahead with a Hong Kong investment conference this week even after it was taken over by its fiercest Swiss rival after a turbulent week.
UBS Group AG Chief Executive Officer Ralph Hamers has warned staff not to talk about business matters with counterparts at Credit Suisse Group AG, following the announcement of their government-brokered combination.
Financial authorities in Singapore and Hong Kong gave assurances Credit Suisse Group AG will remain open for business and its fallout won’t affect their markets after UBS Group AG agreed to buy the troubled Swiss bank in a historic government-brokered deal.
Treasuries declined as the rescue of Credit Suisse Group AG and an offer of dollar liquidity damped demand for haven assets after a week-long rout in banking shares.
Among the biggest losers in the shotgun sale of Credit Suisse Group AG are investors in the firm’s riskiest bonds, known as AT1s, worth $17 billion.
China’s biggest high-tech companies, which have weathered their own volatility in the last few years, may be positioned to be the ones offering some relief to investors as market confidence has been shaken by the financial sector’s health from UBS Group AG’s take over of Credit Suisse Group AG to the collapse of Silicon Valley Bank.
The case for the Federal Reserve to forgo an interest-rate hike strengthened in the eyes of some central bank watchers on Sunday following a coordinated global move to ease growing financial strains.
China’s diesel exports surged more than tenfold at the start of the year — and gasoline shipments also climbed — as domestic demand eased during the Lunar New Year holiday and refiners used their export quotas.
Credit Suisse Group AG told staff that promised bonuses and pay increases will still be paid as the bank seeks to keep “business as usual” after a tumultuous week that ended in a takeover by its fiercest Swiss rival.
