(Reuters) -Valley National Bancorp is vying to buy Silicon Valley Bank, Bloomberg News reported on Saturday. The regional bank has submitted a bid to the Federal Deposit Insurance Corp (FDIC), the report said, citing people familiar with the matter. The FDIC which now controls the Silicon Valley Bank assets, when asked for a comment on …
Valley National bidding for Silicon Valley Bank- Bloomberg News Read More »
ZURICH (Reuters) – Credit Suisse tapped the Swiss National Bank for “a large multi-billion amount” last weekend to secure its liquidity, the country’s finance minister Karin Keller-Sutter told Swiss broadcaster SRF on Saturday. The troubled Swiss bank had said last week it intended to borrow up to 50 billion Swiss francs from the country’s central …
Credit Suisse accessed billions in liquidity last weekend – finance minister Read More »
By Carolina Mandl NEW YORK (Reuters) – London-based hedge fund Rokos Capital Management told investors in a letter on Saturday that it has decided to de-risk, following double-digit losses this month. “We have de-risked following this month’s market price action,” the hedge fund said in the letter which was seen by Reuters. It added that …
Hedge fund Rokos cuts risk after losses – letter Read More »
By Valentina Za and Giuseppe Fonte MILAN (Reuters) – Italy’s Treasury said it would confirm Luigi Lovaglio as chief executive of Monte dei Paschi di Siena, keeping the veteran banker in charge of the bank as turmoil shakes the industry. Monte dei Paschi (MPS) is due to appoint a new board of directors on April …
Italy to hand Monte dei Paschi CEO Lovaglio new mandate Read More »
(Reuters) – Markets have experienced massive upheaval in the last month, prompted in part by two of the three largest banking failures in U.S. history while Swiss lender Credit Suisse was bought by rival UBS Group AG in a merger engineered by Swiss regulators. Fears of banking contagion remain, and investors are worried that global …
Factbox: The biggest financial crises of the last four decades Read More »
LONDON (Reuters) – More than 3,000 bus drivers at a central England division of National Express have ended strike action after voting to accept a 16.2% pay rise, the Unite union said on Saturday. Britain has had waves of disruptive strikes in recent months as hundreds of thousands of transport, health, education and public-sector workers …
Bus drivers at UK’s National Express accept 16.2% pay deal Read More »
By Pete Schroeder and Saeed Azhar WASHINGTON/NEW YORK (Reuters) – The banking crisis set off by the swift collapse of Silicon Valley Bank has exposed a sharp disconnect between Washington and Wall Street. Bankers want faster, more aggressive action to shore up the industry, while the Biden White House and regulators argue they’ve done what …
Analysis: Wall Street push for bank rescues clashes with Washington realities Read More »
By Tom Sims and Kate Abnett FRANKFURT/BRUSSELS (Reuters) -The European Union and Germany have reached a deal on the future use of combustion engines, officials said on Saturday, an issue that has been closely followed by the auto industry. The agreement will allow some combustion engines beyond 2035 and was quickly condemned by a prominent …
Germany reaches deal with EU on future use of combustion engines Read More »
DUESSELDORF (Reuters) – ThyssenKrupp Chief Executive Martina Merz has defended efforts to spin off the German company’s steel business ahead of a board meeting next week. “The future lies in the business becoming specialized and managing without the help of the parent company,” Merz was cited as saying by the weekly magazine Der Spiegel. A …
ThyssenKrupp CEO defends steel spin-off ahead of board meeting – Spiegel Read More »
ZURICH (Reuters) – The integration team tasked with merging Switzerland’s two largest banks is to be headed by UBS’s chief technology officer and Credit Suisse’s chief operating officer, the Tages-Anzeiger newspaper reported on Saturday. Mike Dargan, who has been with UBS for 7 years, and Francesca McDonagh, who joined Credit Suisse last September, will be …
UBS’s Dargan and Credit Suisse’s McDonagh to lead merger: newspaper Read More »
