Global markets are bracing for what looks set to be another tumultuous week with a focus on the Federal Reserve’s policy response to the US bank turmoil and the fate of Credit Suisse Group AG in Switzerland as rescue talks continued over the weekend.
Mohamed El-Erian said it is “unwise” for Credit Suisse Group AG to push back on the $1 billion offer from UBS Group AG to take over the troubled lender.
A coalition of midsize US banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.
Brazilian President Luiz Inácio Lula da Silva’s approval ratings beat that of his predecessor Jair Bolsonaro but were smaller than those in his first two terms, according to a poll comparing the initial months of each administration.
Former Goldman Sachs chief executive Lloyd Blankfein said the Federal Reserve can take a pause hiking interest rates this week as the unfolding bank crisis will effectively tighten lending standards in the economy.
Iranian President Ebrahim Raisi has been invited by Saudi Arabia’s King Salman bin Abdulaziz to visit the kingdom’s capital, state-run Islamic Republic News Agency reported.
Swiss authorities are weighing unprecedented steps to force through a UBS Group AG takeover of Credit Suisse Group AG, with the risk of some form of nationalization rising by the minute before markets open on Monday.
US regulators are moving toward a breakup solution for Silicon Valley Bank after failing to line up a suitable buyer for the entire company, according to people familiar with the matter.
The world’s most indebted developer has reached an agreement with a group of major creditors for a plan to restructure its offshore debt, just ahead of a key winding-up petition hearing Monday, people familiar with the matter said.
Swiss authorities are considering a full or partial nationalization of Credit Suisse Group AG as the only other viable option outside a UBS Group AG takeover, according to people with knowledge of the matter.
