Initial filings for unemployment insurance ticked higher last week but remained generally low in a tight labor market. Jobless claims for the week ended March 25 totaled 198,000, up 7,000 from the previous period and a bit higher than the 195,000 estimate, the Labor Department reported Thursday. related investing newsContinue Reading
China’s Premier Li Qiang addressed an international audience at Boao Asia forum in Boao, Hainan on March 30, 2023. Lintao Zhang | Getty Images News | Getty Images BO’AO, China — Chinese Premier Li Qiang sought to rally Asian countries behind China in his first public address to an internationalContinue Reading
Traders work during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021. Brendan McDermid | Reuters Although Didi’s situation is plagued by company-specific factors, the fallout around the listing comes as political pressure inContinue Reading
Bitcoin is up 50% so far in 2023, beating major commodities and stock indexes. Industry insiders said the bank collapses have sent investors looking for alternatives to the traditional banking system and there is also anticipation of a slowdown in interest rate rises, which is helping bitcoin. Filip Radwanski |Continue Reading
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
An exterior view of First Citizens Bank headquarters on March 27, 2023 in Raleigh, North Carolina. Melissa Sue Gerrits | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything theyContinue Reading
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Bobby Yip | Reuters BEIJING — Indebted property developer China Evergrande defaulted this week with hardly a ripple in markets as most institutions remained silent. Late Thursday, Fitch Ratings said Evergrande had not confirmed payment ofContinue 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
Federal Reserve Chairman Jerome Powell attends the House Financial Services Committee hearing on Capitol Hill in Washington, U.S., September 30, 2021. Al Drago | Reuters In the coming week, the Federal Reserve could decide to speed up the end of its bond-buying program and signal that it expects to startContinue Reading
Pfizer CEO Albert Bourla speaks during the China Development Forum in Beijing on March 25, 2023. Lintao Zhang | Getty Images News | Getty Images BEIJING — U.S. pharma giant Pfizer has signed an agreement with China to cooperate on improving the country’s health coverage, according to the company. “WeContinue Reading