By Paritosh Bansal and Ira Iosebashvili (Reuters) – With the U.S. and European banking crisis wreaking havoc in global markets, some financial industry executives are calling on the Federal Reserve to pause its monetary policy tightening for now but be ready to resume raising rates later. Investors are currently pricing a 60% probability that the …
Analysis-Financial or price stability? Fed faces calls to pause Read More »
LONDON (Reuters) -British finance minister Jeremy Hunt and Bank of England Governor Andrew Bailey are in regular contact this weekend over the fate of Credit Suisse Group AG, according to a source with knowledge of the matter. UBS Group AG is mulling a takeover of its embattled Swiss rival Credit Suisse, other sources told Reuters …
UK finance minister, Bank of England governor in contact over Credit Suisse – source Read More »
By Pete Schroeder and Saeed Azhar WASHINGTON (Reuters) – The lightning speed at which the banking industry descended into turmoil has shaken global markets and governments, reviving eerie memories of the financial crisis. Like 2008, the effects may be long lasting. In the space of a week, two U.S. banks have collapsed, Credit Suisse Group …
Analysis-Bank panic raises specter of 2008, may bring lasting change Read More »
(Reuters) – U.S. authorities are working with Swiss counterparts to broker a deal for UBS AG to buy all or part of Credit Suisse Group AG, Bloomberg News reported on Saturday citing people familiar with the matter. U.S. officials might seek to weigh in on matters which can impact the finals terms of the deal …
U.S. authorities weighing in on possible Credit Suisse-UBS deal: Bloomberg News Read More »
By Sabine Siebold and Paul Carrel (Reuters) – The European Central Bank (ECB) will likely need to raise interest rates further to tame persistent inflation, two leading hawks on the bank’s policymaking Governing Council said on Saturday, while playing down the risk of repeat of the 2008 financial crisis. The comments from the central bank …
ECB hawks press case for more rate hikes to fight dogged inflation Read More »
PARIS (Reuters) -Some 37% of operational staff at TotalEnergies’ refineries and depots were on strike on Saturday amid persisting protests in France against the government’s move to raise the retirement age by two years to 64. French fuel supplies could be put at risk again next week following union calls to extend 10 days of …
French protests: 37% of operational staff at TotalEnergies’ refineries on strike Read More »
By Medha Singh and Joice Alves (Reuters) – Shares of First Republic Bank tumbled nearly 33% on Friday, leaving them down more than 80% in the past 10 sessions, despite a rescue package with $30 billion in deposits injected by large U.S. banks. The beleaguered lender was in talks to raise money from other banks …
First Republic shares tank almost 33% despite $30 billion support Read More »
FRANKFURT (Reuters) – Germany’s energy regulator has ruled out a gas supply emergency for the current winter but cannot give the all clear for the 2023/24 season, its president told a German newspaper. “We cannot rule out a gas shortage for the next winter. Risk factors are that the winter of 2023/24 could be very …
German energy regulator cannot rule out gas emergency for 2023/24 winter Read More »
By David Lawder WASHINGTON (Reuters) -The International Monetary Fund said its executive board on Friday approved rule changes that would allow the IMF to approve new loan programs for countries facing “exceptionally high uncertainty” – a move expected to pave the way for a new Ukraine loan program. The changes to the IMF’s financing assurances …
IMF approves rule change that would allow new Ukraine loan program Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Tech giants will likely challenge a new European Union law aimed at reining in their power with the first cases in a potential wave of litigation expected by year-end, one of the EU’s top judges said on Friday. The Digital Markets Act (DMA), which came into force in …
Top EU judge expects a wave of litigation from tech giants against new tech law Read More »
