The case for the Federal Reserve to forgo an interest-rate hike strengthened in the eyes of some central bank watchers following a coordinated global move to ease growing financial strains.
Even before Credit Suisse Group AG’s government-brokered takeover, the Swiss lender was in the process of cutting 9,000 jobs in an effort to save itself.
Indonesia said Perry Warjiyo, who steered the Southeast Asian economy’s monetary policy through the pandemic years, will continue as central bank governor for a second term.
Here’s the full text of a memo to UBS Group AG staff from Chief Executive Officer Ralph Hamers, following the news that the bank would acquire Credit Suisse:
The world’s most indebted developer said it expects that a restructuring support agreement will be ready by the end of March, after it won preliminary support from a group of major creditors.
The early calm in Asian markets on Monday quickly gave way to fresh jitters about the outlook for the global financial system, and investors and strategists are bracing for further tumult.
Signature Bank’s deposits and some of its loans have been taken over by a unit of New York Community Bancorp, a move that could help calm some of the turmoil that has engulfed US regional banks.
Following the news that Credit Suisse Group AG would be sold to UBS Group AG for $3.3 billion, the beleaguered bank issued two internal memos to staff — one signed by Chairman Axel Lehmann and CEO Ulrich Körner, and a Q&A addressing subjects including job security, pay, bonuses and pensions.
The yield on 10-year Treasuries will head “much lower” if it breaches the 3.37% level, according to DoubleLine Capital LP Chief Executive Officer Jeffrey Gundlach.
Former Taiwan President Ma Ying-jeou said he plans to visit China later this month — the first such visit by an ex-leader of the self-run island — an announcement that comes as Taipei hosts a flurry of foreign delegations in a sign of its rising profile on the world stage.
