By Stefania Spezzati, Oliver Hirt and John O’Donnell (Reuters) -UBS agreed to buy rival Credit Suisse on Sunday, in an eleventh-hour merger engineered by Swiss authorities, and some of the world’s top central banks tried to reassure investors about the health of the banking system. UBS will pay for 3 billion Swiss francs ($3.23 billion) …
UBS agrees to buy Credit Suisse as global regulators reassure markets Read More »
(Reuters) -Aircraft engineering company Virgin Orbit Holdings Inc has begun drawing up detailed contingency plans for its insolvency days after halting its operations and furloughing its workforce, Sky News reported on Sunday. Richard Branson’s Virgin Group is working with restructuring firms Alvarez & Marsal and Ducera about fallback plans if they cannot secure new funding, …
Virgin Orbit starts to plan for insolvency amid rescue talks-Sky News Read More »
LONDON (Reuters) – UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. The Swiss central bank will supply substantial liquidity to the merged bank, it said at a news conference in the Swiss capital, Bern. It said …
UBS to take over Credit Suisse to stem global crisis of confidence Read More »
(Reuters) – Bitcoin rose 5.19% to $28,380 at 20:01 GMT on Sunday, adding $1,400 to its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 72% from the year’s low of $16,496 on Jan. 1. Ether, the coin linked to the ethereum blockchain network, rose 3.58% to $1,827.2 on Sunday, adding $63.1 to …
LONDON (Reuters) – The Bank of England welcomed moves by the Swiss authorities to broker a take-over by UBS of Credit Suisse on Sunday, indicating it would support approval of the deal, and it said the British banking system was well funded. UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss …
Bank of England welcomes Credit Suisse deal, says UK banks are safe Read More »
FRANKFURT (Reuters) – The European Central Bank remains ready to support euro zone banks with loans if needed, ECB President Christine Lagarde said on Sunday, adding that the Swiss-brokered rescue of Credit Suisse was “instrumental” for restoring calm to the markets. Investors have been concerned about the impact of Credit Suisse’s debacle on euro zone …
ECB ready to help banks even as it hopes for calm after Swiss deal Read More »
LONDON (Reuters) – Britain’s Financial Conduct Authority said on Sunday it was minded to approve Swiss bank UBS’ takeover of Credit Suisse bank, both of which have operations in London, to support financial stability. “Earlier today, the Swiss authorities announced a wide range of actions to support financial stability. The FCA has been in contact …
UK’s FCA says minded to back Swiss moves to support financial stability Read More »
By Tim Hepher (Reuters) – Airbus is better prepared for the challenge of securing enough people to handle jet production increases than it was before the pandemic, a senior executive said. The European planemaker plans a two-thirds increase in production of best-selling A320neo-family single-aisle jets to 75 a month in 2026 from 45 now. In …
Airbus on hiring spree for factory ramp-up, digital projects Read More »
(Reuters) -British retailer John Lewis, which has been 100% owned by its staff, is considering diluting its partnership structure, The Sunday Times reported on Saturday. The report said that the company would consider selling only a minority stake and its priority would be to maintain majority employee ownership. Chairperson Sharon White is in the early …
UK’s John Lewis eyes end of 100% staff ownership – The Sunday Times Read More »
(Reuters) -First Citizens BancShares Inc is evaluating an offer for Silicon Valley Bank, Bloomberg News reported on Saturday, citing people familiar with the matter. At least one other suitor is making a serious consideration for the collapsed lender, the report said. SVB and First Citizens did not immediately respond to Reuters’ request for comment outside …
First Citizens in talks to acquire Silicon Valley Bank – Bloomberg News Read More »
