March 21 (Reuters) – SVB Financial Group and the federal regulator that shuttered its Silicon Valley Bank unit said at a hearing in bankruptcy court on Tuesday that a fight looms over more $2 billion of the money from the former parent company that was seized with the lender. SVB Financial, which filed for bankruptcy … Read more
March 20 (Reuters) – U.S. banking stocks rose on Monday and European lenders rebounded from a strong early sell-off after the state-backed takeover of Credit Suisse by UBS Group appeared to wipe out a source of concern for the global banking sector. In a package designed by Swiss regulators on Sunday, UBS Group AG (UBSG.S) … Read more
Credit Suisse tumbles more than 60% after emergency weekend takeover European banks recover ground after initial 5% drop Government bonds and gold rally as investors seek safety Wall Street opens flat, First Republic Bank collapses LONDON, March 20 (Reuters) – European bank stocks retaliated on Monday after an early slump and the interactive rush for … Read more
LONDON, March 20 (Reuters) – Some of the world’s leading flu vaccine makers say they could make hundreds of millions of bird flu vaccines for humans within months if a new strain of bird flu crosses the division. some change. A current outbreak of bird flu known as H5N1 clade 2.3.4.4b has killed record numbers … Read more
First Republic Bank tumbles by suspending its dividend SVB Financial files for bankruptcy protection FedEx jumps on boost to full-year earnings forecast Indices down: Dow 1.31%, S&P 1.17%, Nasdaq 0.80% NEW YORK, March 17 (Reuters) – Wall Street fell on Friday at the end of a tumultuous week marked by the unfolding crisis in the … Read more
March 16 (Reuters) – Credit Suisse (CSGN.S) said on Thursday it would borrow up to $54 billion from the Swiss central bank to bolster liquidity and investor confidence, after a slump in its equities has intensified fears of a global banking crisis. The bank’s announcement, which came in the middle of the night in Zurich, … Read more
February Retail Sales, Lower Producer Inflation Credit Suisse US shares hit all-time low Shares of regional banks fall NEW YORK, March 15 (Reuters) – U.S. stocks pared losses on Wednesday evening but the Dow Jones and S&P 500 still closed lower as Credit Suisse problems rekindled fears of a banking crisis, eclipsing bets on a … Read more
CHICAGO, March 14 (Reuters) – Tyson Foods Inc (TSN.N) will close two U.S. chicken plants with nearly 1,700 employees on May 12, the company said on Tuesday. The closures show that America’s biggest meat company by sales is still trying to figure out how to improve its chicken business which has struggled for years. Tyson … Read more
March 14 (Reuters) – Shockwaves from the collapse of Silicon Valley Bank (SIVB.O) hit global banking stocks again on Tuesday, with assurances from President Joe Biden and other policymakers having little calmed the markets and prompted a rethink of the outlook for interest rates. Biden’s efforts to reassure markets and depositors came after emergency U.S. … Read more
LONDON/SINGAPORE, March 13 (Reuters) – Banking stocks in Europe and Asia plunged on Monday as the U.S. decision to guarantee deposits at collapsed tech lender Silicon Valley Bank failed to reassure investors of financial strength from other banks. Europe’s STOXX banking index (.SX7P) fell 4.3%, after losing 3.78% on Friday, leaving it on track for … Read more
