Credit Suisse, the collapsed Swiss bank taken over by UBS Group in a hastily arranged bailout earlier this month, may bring with it a fresh set of regulatory and legal problems for its new owner. For years, the bank has provided a safe haven for wealthy American clients to hideContinue Reading
Signage at the Alibaba Group Holding Ltd. offices in Beijing, China, on Tuesday, Jan. 17, 2023. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of Alibaba surged 15% at the open on Wednesday after the company announced a significant overhaul to split the tech giant into six business groups.Continue Reading
First Citizens BancShares will buy Silicon Valley Bank’s deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday, just over two weeks after the biggest U.S. banking collapse since the global financial crisis. First Citizens shares jumped more than 45% during Monday morning trading on Wall Street. The dealContinue Reading
First Republic Bank headquarters is seen on March 16, 2023 in San Francisco, California, United States. Tayfun Coskun | Anadolu Agency | Getty Images The surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo amid fears over the stability of regional lenders hasContinue Reading
A trader works on the floor of the New York Stock Exchange (NYSE) December 9, 2021. Brendan McDermid | Reuters Stock futures were little changed early Friday after investors pulled back from the market rebound earlier in the week and turned their focus to inflation data due later in theContinue Reading
Signage outside a Chase bank branch in San Francisco, California, on Monday, July 12, 2021. David Paul Morris | Bloomberg | Getty Images JPMorgan Chase is acquiring a data analytics provider for startup investors called Aumni, CNBC is first to report. The biggest U.S. bank by assets is buying theContinue Reading
U.S. stock index futures dipped early Thursday, after the major averages posted a third straight day of gains as traders bet that the omicron variant’s economic impacts won’t be as severe as initially thought. Futures contracts tied to the Dow Jones Industrial Average slid 148 points, or 0.4%. S&P 500Continue Reading
SINGAPORE — Asia-Pacific markets traded mixed Thursday as investors assessed risks surrounding the omicron Covid variant. The Nikkei 225 in Japan declined 0.47% to 28,725.47 while the Topix index fell 0.57% to 1,990.79. In Australia, the ASX 200 slipped 0.28% to 7,384.50, with most sectors closing lower. The energy andContinue Reading
The logos of Swiss banks Credit Suisse and UBS on March 16, 2023 in Zurich, Switzerland. Arnd Wiegmann | Getty Images News | Getty Images Shares of Credit Suisse and UBS led losses on the pan-European Stoxx 600 index on Monday morning, shortly after the latter secured a 3 billionContinue Reading
UBS Chairman Colm Kelleher (R) shakes hands with Credit Suisse chairman Axel Lehmann (L) after a press conference following talks over Credit Suisse in Bern on March 19, 2023. Fabrice Coffrini | Afp | Getty Images UBS agreed to buy its embattled rival Credit Suisse for 3 billion Swiss francsContinue Reading