European stocks dropped as investors turned their focus toward a rates decision by the European Central Bank after a quarter-point hike by the Federal Reserve. US regional lenders slumped on renewed worries about financial stability.
PacWest Bancorp has become the latest focal point of investor concern about the health of US regional banks, shedding nearly half its value in premarket trading, a day after Federal Reserve Chair Jerome Powell said authorities were closer to containing the turmoil that’s claimed four lenders this year.
The European Union is discussing a new sanctions mechanism to target third countries it believes aren’t doing enough to prevent Russia from evading sanctions, particularly those that can’t explain spikes in trade of key goods or technologies, according to people familiar with the matter.
Taiwan’s spy chief warned that Chinese President Xi Jinping’s moves to surround himself with a coterie of like-minded officials increases the risk of conflict over the island at the heart of US-China tensions.
Hong Kong’s retail sales growth accelerated in March at the fastest pace on record as the economy bounced back and welcomed tourists after years of pandemic isolation.
Turkey’s central bank unexpectedly didn’t change its inflation projections for this year and next, reiterating an outlook that’s far more optimistic than the views in the market.
UK mortgage lending ground to a halt in March for the first time since the pandemic was raging in mid-2021, but approvals for new loans picked up.
The chief executive officer of the London Stock Exchange has said that UK executives should be paid more to encourage individuals and companies to remain in Britain.
BMW AG’s first-quarter earnings beat expectations on strong sales of its most expensive cars, though the company left its 2023 outlook unchanged as the softening global demand threatens to erode orders across the industry.
The UK’s antitrust watchdog launched a wide-ranging market review into the development of AI as authorities grapple with how they can regulate the rapidly evolving technology.
