LONDON/NEW YORK (Reuters) -UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. Meanwhile, global central banks said they would open daily dollar taps to their banks. Here are comments from market analysts: CITI FOREIGN EXCHANGE STRATEGISTS: “To …
UBS to take over Credit Suisse, central banks act on liquidity Read More »
(Reuters) -Ecuadorian and Peruvian authorities worked on Sunday to address the damage caused by the strong earthquake that shook the region the previous day, leaving at least 15 dead and hundreds injured. The 6.8 magnitude quake struck the Ecuadorian coastal province of Guayas at midday on Saturday, with residents reporting shaking in much of the …
Ecuador, Peru authorities assess damage after earthquake that killed at least 15 Read More »
By David Lawder, David French and Lananh Nguyen WASHINGTON/NEW YORK (Reuters) – A U.S. official said on Sunday that the deposit outflows that left many regional banks reeling in the wake of Silicon Valley Bank’s failure had slowed and in some cases reversed, as investors tried to ascertain whether the crisis was contained. Shares of …
U.S. sees deposits stabilizing as some regional banks reel Read More »
WASHINGTON/JERUSALEM (Reuters) -U.S. President Joe Biden on Sunday told Israeli Prime Minister Benjamin Netanyahu that democratic values were a hallmark of U.S.-Israeli ties and said he supported finding a compromise over a highly-contested judicial overhaul. Netanyahu, according to his office, assured Biden that Israel’s democracy was healthy. Since being reelected late last year to head …
Biden tells Netanyahu he backs compromise on Israel judicial overhaul Read More »
By Dietrich Knauth (Reuters) – SVB Financial, the bankrupt parent company of Silicon Valley Bank, has lost access to its financial records after the bank was placed into receivership by the Federal Deposit Insurance Corporation (FDIC), according to court documents filed in Manhattan on Sunday. SVB Financial is exploring options, including a potential bankruptcy sale, …
Silicon Valley Bank’s parent company cut off from bank’s records Read More »
By Dhara Ranasinghe, Amanda Cooper and Davide Barbuscia LONDON (Reuters) – Financial markets were poised for relief on Monday after UBS Group AG agreed to buy Credit Suisse Group AG in a rescue orchestrated by the state, while major central banks announced a co-ordinated move to shore up liquidity in the financial system. In an …
World markets set for relief after Credit Suisse buyout, central banks action Read More »
LONDON (Reuters) – Britain on Monday said it would extend its zero-tariff arrangement on products from Ukraine until March 2024 as part of its measures to support the economy there after the Russian invasion last year. Britain initially cut tariffs on all goods from Ukraine to zero last May, and agreed in principle a digital …
UK to extend zero tariffs on Ukrainian products to March 2024 Read More »
By Suban Abdulla LONDON (Reuters) – The average price of homes coming on the market in Britain stabilised in March and activity is picking up towards more normal pre-pandemic levels after last year’s “mini-budget” upheaval, a survey showed on Monday. Property portal Rightmove said asking prices for homes rose by a monthly 0.8% in March …
UK housing market stabilises after “mini-budget” rates spike-Rightmove Read More »
By Suban Abdulla LONDON (Reuters) – Britain’s manufacturing output bounced back in the first three months of 2023, chiming with other measures of the economy that improved, but firms expect the sector to contract as inflationary pressures persist, a survey showed on Monday. Trade body Make UK and accountants BDO said their quarterly gauge of …
British manufacturing output rebounds, outlook remains bleak: survey Read More »
By Francesco Canepa and Howard Schneider FRANKFURT/WASHINGTON (Reuters) – Top central banks, faced with the risk of a fast-moving loss of confidence in the stability of the financial system, moved on Sunday to bolster the flow of cash around the world. In coordination with central banks elsewhere, the U.S. Federal Reserve offered daily currency swaps …
Global central banks open daily dollar taps to help banks Read More »
