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
Brussels proposes an exception for electric fuel cars from 2035 Germany still considering draft EU proposal Berlin sees the state of technology as problematic Objective to make a decision by Thursday BERLIN/BRUSSELS, March 21 (Reuters) – The European Commission has drawn up a plan to allow the sale of new cars with internal combustion engines … Read more
March 21 (Reuters) – As crisis grips the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency looks positively buoyant, much like a banking meltdown pushes markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 lost 1.4% … 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
Stocks rise as Switzerland provides lifeline to Credit Suisse Bond yields rise, ECB expected to hike rates up to 50bps Oil rises from a 15-month low Graphic: world exchange rates LONDON, March 16 (Reuters) – European markets rebounded on Thursday as a 50 billion Swiss franc ($53.94 billion) lifeline for embattled lender Credit Suisse prepared … 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
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
BBC forced to cut much of Saturday sports coverage Several presenters refuse to work in support of Lineker Dispute over migration comments sparks debate over neutrality LONDON, March 11 (Reuters) – Britain’s BBC was forced to cut much of its sports coverage on Saturday after presenters refused to work in a show of solidarity with … Read more
California regulator closes SVB and appoints FDIC receiver SVB focused on loans to start-ups; branches will reopen on Monday FDIC to sell bank assets; ‘chaos’ reported amid withdrawals Bank stocks fall in the United States and Europe, but far from the lows Crisis exposes bank ‘vulnerabilities’ amid rising rates March 10 (Reuters) – Startup-focused lender … Read more
