46 minutes ago China leaves 1- and 5-year prime lending rates unchanged The People’s Bank of China left the prime rates for 1-year and 5-year loans unchanged, after cutting the reserve requirement ratio for almost all banks by 0.25 percentage points last week. The 1-year LPR remained at 3.65% while the 5-year LPR remained at … Read more
Talks on bailing out Credit Suisse continued on Sunday as UBS demanded $6 billion from the Swiss government to cover the costs. UBS is under pressure from Swiss authorities to take over its local competitor to bring the crisis under control, two people with knowledge of the matter said. Regulators want a resolution before markets … Read more
Cryptocurrencies stood out this week as bank stocks tumbled and the global liquidity crunch rocked the stock market. For the week ending March 17, bitcoin finished up 34%, making it the cryptocurrency’s best week since January 2021 – which marked the start of the institution-led bull run this that year. Coin Metrics measures a week … Read more
The index gurus are back. Some of the best-known stocks are reclassified on Friday, which means a lot of money will move. Have you ever wondered why Walmart is ranked as a consumer staple stock in the S&P 500, but similar retailers such as Target, Dollar General and Dollar Tree are ranked as consumer discretionary … Read more
An hour ago Tech stocks lead the rise in the Hong Kong index; Baidu jumps more than 10% The Hang Seng Index led the gains in the Asia-Pacific region on Friday, thanks in part to the surge in tech stocks. Baidu rose nearly 12% after its US-listed shares jumped overnight, following the launch of its … Read more
Here are the most important information investors need to start their trading day: Two more trading days in this chaotic week that has been driven by the turmoil in the banks. Credit Suisse, the current flag bearer of the upheaval, has accepted the Swiss central bank’s lifeline offer. Will this calm everyone down? That’s unclear, … Read more
Novo, one of the biggest sellers of insulin in the United States and around the world, announced on Tuesday that it will reduce the list price of its NovoLog insulin by 75% and the prices of Novolin and Levemir by 65% from from January 2024. In addition, Novo plans to reduce the prices of its … Read more
The failures of Silicon Valley Bank and Signature Bank weigh on the markets. The consumer price index for February is expected this morning. Uber and Lyft win major legal victory in California. Here are the most important information investors need to start their trading day: Investors are looking for clarity after a few days of … Read more
The struggling Swiss lender released its annual report, which was scheduled for release last Thursday but was ultimately delayed by an appeal from the U.S. Securities and Exchange Commission. After discussions with the US regulator were completed, Credit Suisse confirmed its 2022 results announced on February 9, which showed a net loss of 7.3 billion … Read more
29 minutes ago Oil prices fall as worries over SVB fallout fallout spread Oil prices have fallen as the collapse of Silicon Valley Bank continues to reverberate through global markets. Brent crude futures last traded down 0.49% at $80.32 a barrel, while US West Texas Intermediate futures fell 0.6% to settle at $80.32 a barrel. … Read more
