Citi economists said, “We have long been discussing our view that China can be a major growth hedge this year – if anything, recent global banking stresses perhaps have strengthened this thesis.” The decision by the People’s Bank of China to cut its required reserved ratio showed “reassurance of policy support amid global volatilities,” Citi … Read more
The European Commission, the EU’s executive arm, recently published its so-called “Green Claims Directive.” The highly anticipated proposal seeks to establish an EU-wide methodology that will help to clean up the environmental claims marketplace. Campaigners have broadly welcomed the drive to curb the burgeoning corporate greenwashing trend. But they say that a months-long lobbying effort … Read more
Treasury Secretary Yellen says emergency actions to backstop banks could be used again if needed Treasury Secretary Janet Yellen said Thursday that the federal emergency actions used to backstop Silicon Valley Bank and Signature Bank customers could be used again if necessary. “We have used important tools to act quickly to prevent contagion. And they … Read more
Courtney Lee #5 and Chandler Parsons #25 of the Houston Rockets come together during their game at Staples Center on April 6, 2012 in Los Angeles, California. Andrew D. Bernstein | National Basketball Association | Getty Images Former Morgan Stanley advisor Darryl Cohen was arrested on Thursday morning for allegedly defrauding current and former NBA … Read more
“The AT1 instruments issued by Credit Suisse contractually provide that they will be completely written down in a ‘viability event,’ in particular if extraordinary government support is granted,” FINMA said in a statement Thursday. “As Credit Suisse received extraordinary liquidity assistance loans secured by a federal default guarantee on 19 March 2023, these contractual conditions … Read more
Regulators and officials across the European Union have been nervous about potential contagion to their banking sectors after the recent turmoil in the United States. However, they think the U.S. should learn from some of the regulatory works put in place in the euro area. Basel III is a set of reforms that strengthens the … Read more
Federal Reserve Board Chairman Jerome Powell holds a news conference following a Federal Open Market Committee meeting at the Federal Reserve on March 22, 2023 in Washington, DC. Alex Wong | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors … Read more
Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world’s biggest cryptocurrency could reach new heights. Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin. Part of the industry’s positive view on … Read more
The FDA’s independent panel of advisors voted against endorsing accelerated approval of Biogen’s investigational ALS drug for a rare and aggressive form of the disease. The vote is not binding on the FDA, though the agency often follows the panel’s guidance. It will make a final decision on April 25. The drug tofersen was developed … Read more
Dave Limp, senior vice president of devices & services for Amazon.com Inc., speaks during an unveiling event at the company’s headquarters in Seattle, Washington, on Wednesday, Sept. 25, 2019. Chloe Collyer | Bloomberg | Getty Images Since Amazon unveiled its Alexa voice assistant in 2014, the company has worked to embed the technology in as … Read more