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World

Deutsche Bank, UBS hit as bank worries spark stress signals

European banking stocks fell sharply on Friday, with Deutsche Bank and UBS knocked by worries that actions by regulators and central banks

13 hours ago

Japan’s inflation off 41-year high but stays above BOJ goal

Japan’s core consumer inflation slowed in February but an index stripping away energy costs hit a four-decade high, data showed on Friday,

17 hours ago

ECB looking for signs of stress but banking crisis unlikely

The European Central Bank is watching for signs of stress in the bank sector from the ongoing financial turmoil but a full-blown crisis is unlikely for now, the ECB’s top brass said on Wednesday. Investors are pondering whether the ECB will be able to continue raising rates to fight inflation given turmoil in the banking sector that has seen two US lenders go

22 Mar 2023

UBS eyeing swoop for Credit Suisse amid fears of banking contagion

UBS AG was examining on Saturday a takeover of its embattled Swiss peer Credit Suisse, sources said, a move that could dampen fears the unfolding crisis

18 Mar 2023

India has well-regulated banking sector: RBI Governor Shaktikanta

Reserve Bank of India Governor Shaktikanta Das gave a thumbs up to the country’s banking system, while stressing how recent developments in the US have brought

18 Mar 2023

OECD raises global growth forecast but recovery fragile

The Organisation for Economic Co-operation and Development (OECD) raised its global economic growth forecast on Friday as inflation eases and China emerges from Covid restrictions,

17 Mar 2023

SVB Financial seeks bankruptcy protection

SVB Financial Group said on Friday it filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets,

17 Mar 2023

Credit Suisse’s $54b lifeline gives global banks tentative respite

Credit Suisse sought to shore up its liquidity and restore investor confidence on Thursday by borrowing up to $54 billion from Switzerland’s central bank,

16 Mar 2023

Stocks sink on Wall Street due to renewed fears about banks

Stocks are back to falling on Wall Street on Wednesday as worries worsen about the strength of banks on both sides of the Atlantic. The S&P 500 was 1.3% lower in midday trading, while markets in Europe fell more sharply as shares of Switzerland’s Credit Suisse tumbled to a record low. The Dow Jones Industrial Average was down 461 points,

15 Mar 2023