Central banks keep hiking rates amid banking turmoil

Central banks keep hiking rates amid banking turmoil

March 23 (Reuters) – The Bank of England on Thursday followed the Federal Reserve and the Swiss National Bank in hiking interest rates, as policymakers ploughed on with their fight against inflation in the face of the instability that rippled through the global banking system this month. Investors had questioned whether the central banks could … Read more

First Republic shares drop 11% as Yellen says Treasury won’t insure all deposits

First Republic shares drop 11% as Yellen says Treasury won't insure all deposits

NEW YORK, March 22 (Reuters) – As beleaguered First Republic Bank (FRC.N) considers its options, Treasury Secretary Janet Yellen said on Wednesday there is no discussion on insurance for all deposits, making a “bull case” scenario more difficult for the stock. First Republic, whose shares have lost much of their value since the banking crisis … Read more

SVB Financial Group seeks cooperation with FDIC after $2 bln frozen

SVB Financial Group seeks cooperation with FDIC after $2 bln frozen

March 21 (Reuters) – An attorney for SVB Financial Group (SIVB.O) told a judge on Tuesday it was seeking cooperation from regulators who seized its Silicon Valley Bank unit and removed $2 billion of its cash, which was needed to sustain operations. SVB Financial, which filed for bankruptcy on Friday, had said in court papers … Read more

Bank shares rise after Credit Suisse rescue eases crisis

Bank shares rise after Credit Suisse rescue eases crisis

March 20 (Reuters) – U.S. banking stocks rose on Monday and Europe’s lenders recovered from a sharp early sell-off after UBS Group’s state-backed takeover of Credit Suisse appeared to close off one source of worry for the global banking sector. In a package engineered by Swiss regulators on Sunday, UBS Group AG (UBSG.S) will pay … Read more

UBS mulls takeover of Credit Suisse with possible Swiss government guarantees

UBS mulls takeover of Credit Suisse with possible Swiss government guarantees

FRANKFURT, March 18 (Reuters) – UBS (UBSG.S) is examining a takeover of Credit Suisse (CSGN.S) that could see the Swiss government offer a guarantee against the risks involved, said two people with knowledge of the matter on Saturday. The people said that UBS was coming under pressure from the Swiss authorities to carry out a … Read more

TikTok says US threatens ban if Chinese owners don’t sell stakes

TikTok says US threatens ban if Chinese owners don't sell stakes

WASHINGTON, March 15 (Reuters) – The Biden administration has demanded that TikTok‚Äôs Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters on Wednesday. The move, first reported by the Wall Street Journal, is the most dramatic in a series of recent steps by U.S. … Read more

First Republic spoke to private equity before securing financing -sources

First Republic spoke to private equity before securing financing -sources

NEW YORK, March 15 (Reuters) – First Republic Bank (FRC.N) spoke to at least one private equity firm about raising capital before it secured financing from JPMorgan Chase & Co (JPM.N) and U.S. authorities intervened with support for the industry, two sources familiar with the matter said. The conversations, which have not been previously reported, … Read more