The German lender’s shares retreated for a third consecutive day and have now lost more than a fifth of their value so far this month. The emergency rescue of Credit Suisse by UBS, in the wake of the collapse of U.S.-based Silicon Valley Bank, triggered contagion concern among investors, which was deepened by further monetary … Read more
The global automotive industry is in transition, as consumers increasingly shun internal-combustion-engine vehicles for electric ones. It means EVs are grabbing a bigger slice of the global auto market, according to French investment bank Societe Generale , with one-third of cars sold in China now electric. The “sharp acceleration” in EV take-up in Europe has … Read more
Talks over rescuing Credit Suisse rolled into Sunday as UBS sought $6 billion from the Swiss government to cover costs. UBS is under pressure from the Swiss authorities to take over its local rival to get the crisis under control, two people with knowledge of the matter said. Regulators want a resolution before markets reopen on Monday, but … Read more