(Reuters) -The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week. It will seek bids for Silicon Valley Private Bank until March 22 and …
FDIC to break up SVB, seeks separate sale of private unit Read More »
ATHENS (Reuters) – The European banking system is well-equipped with capital and the probability of contagion due “very small”, ECB’s policymaker Yannis Stournaras said in an interview with CNBC on Monday. “We don’t see substantial vulnerabilities. So, the probability of contagion is very small today. The banks are well capitalised,” Greek central bank chief Stournaras …
ECB’s Stournaras: Chance of contagion to EU banks “very small” Read More »
By Khalil Ashawi JANDARIS, Syria (Reuters) – The simple gravestone of a girl killed in last month’s earthquake in Syria bears no name, but notes she was wearing a green sweater at the time of her burial, a description left in the hope it may help someone identify her. The bodies of up to 70 …
At graveyard of unknown quake victims, Syrians seek news of the missing Read More »
COPENHAGEN (Reuters) – Finland’s Valmet Automotive will lay off 940 employees in its vehicle contract manufacturing business line at the Uusikaupunki car plant, of which about half are dismissed while the rest are laid off until further notice, the company said on Monday. The measures will be implemented between late April and early May, the …
KYIV (Reuters) – Ukraine said on Monday the eastern town of Avdiivka could soon become a “second Bakhmut”, a small city where its forces have held out against Russian invaders for eight months but risk being fully encircled. The battle for Bakhmut in the industrial Donbas has been one of the fiercest of the nearly …
Ukraine says eastern town of Avdiivka could become ‘second Bakhmut’ Read More »
BRUSSELS (Reuters) -The European Union on Monday imposed a new package of sanctions against Iran, its sixth, in response to human rights violations, adding eight individuals and one entity to its list. “In particular, the Council is sanctioning members of the judiciary responsible for handing down death sentences in unfair trials, and for the torturing …
EU imposes further sanctions on Iran for human rights violations Read More »
By Yoruk Bahceli and Lucy Raitano LONDON (Reuters) -European bank bonds slumped on Monday following the state-backed rescue of Credit Suisse by UBS as a wipeout of some bondholders raised concerns around broader bank capital and also hammered bank shares. The Swiss authorities’ handling of the Credit Suisse rescue has upended the understanding in the …
Europe’s bank bonds battered after Credit Suisse debt wipeout Read More »
By Stefania Spezzati LONDON (Reuters) – UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it seeks to reassure key staff following the takeover, a person with knowledge of the matter told Reuters on Monday. In a town hall for Credit Suisse’s employees in wealth management in …
UBS mulls sweeteners to keep Credit Suisse wealth bankers – source Read More »
By Gleb Stolyarov (Reuters) -A Russian court on Monday froze all Volkswagen assets in Russia, in the latest obstacle to the German carmaker’s year-long efforts to wind down its Russian operations. Volkswagen, along with other foreign carmakers, suspended operations in Russia last year after western countries imposed unprecedented sanctions on Moscow over the conflict in …
Russian court freezes Volkswagen assets in Russia Read More »
LONDON (Reuters) – The Bank of England joined other European regulators on Monday in saying that shareholders of failed banks should bear losses ahead of holders of Additional Tier 1 bonds after the structure of Credit Suisse’s rescue in Switzerland angered bondholders. Some 16 billion Swiss francs ($17.24 billion) of Credit Suisse’s AT1 debt will …
Bank of England says shares should be wiped out ahead of bonds Read More »
