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Dollar steady as banking crisis fears keep investors jittery The dollar was firm on Monday, while the yen hovered near its seven-week peak as investors assessed moves made by authorities and regulators to rein in worries over the global banking system. The dollar index, which measures the currency against six rivals, was up 0.078% at 103.060, having gained 0.5% on Friday amid banking jitters, with shares of Deutsche Bank sliding nearly 9%. Global banking stocks have been battered through the month in the wake of the sudden collapse of two U.S. le...
Dollar steady as banking crisis fears keep investors jittery
Dollar steady as banking crisis fears keep investors jittery
Source: Reuters
27/03/2023 8:42:59 AM
Uncertainty, volatility to dominate last week of financial year's trading It was an extremely tough and volatile week at the bourses. Markets were all over the place and the small net change at the end of the week, does not convey the overall movement or the sentiment that prevailed. Markets gained on two of the five sessions and lost on three. BSESENSEX lost 462.80 points or 0.80 per cent to close at 57,527.10 points while NIFTY lost 155 points or 0.91 per cent to close at 16,945.05 points. The broader indices saw BSE100, BSE200 and BSE500 lose 0.97 per cent, 0...
Uncertainty, volatility to dominate last week of financial year's trading
Uncertainty, volatility to dominate last week of financial year's trading
Source: IANS
26/03/2023 3:11:06 PM
Swiss giant UBS in talks to take over all or part of Credit Suisse Swiss banking giant UBS is in discussions to take over all or part of Credit Suisse, after a day in which the troubled banking giant continued to see its share price fall despite a $ 54 billion cash injection, The Guardian reported. The Financial Times reported that the boards of the two banks are set to meet separately over the weekend in talks initiated by the Swiss National Bank, which provided Credit Suisse a lifeline, and regulator Swiss Finma. The expected talks come as a senior C...
Swiss giant UBS in talks to take over all or part of Credit Suisse
Swiss giant UBS in talks to take over all or part of Credit Suisse
Source: IANS
19/03/2023 9:31:18 AM
US investors in Credit Suisse file legal action US investors in Credit Suisse have hit the beleaguered Swiss bank with legal action, claiming that it overstated its prospects before this week's shares crash, The Guardian reported. The lender suffered a rapid sell-off with shares plunging as much as 30 per cent on Wednesday after comments from Credit Suisse's largest shareholder, Saudi National Bank (SNB), which said it was unable to pump in more cash because of regulatory restrictions limiting its holding to below 10 per cent. ...
US investors in Credit Suisse file legal action
US investors in Credit Suisse file legal action
Source: IANS
17/03/2023 4:26:43 PM
Oil steadies as investors take stock of banking crisis  Oil prices were little changed on Friday after a meeting between Saudi Arabia and Russia calmed markets, but crude benchmarks were still headed for a second weekly fall after a banking crisis sparked a sell-off in global financial markets this week. Brent crude futures edged up 2 cents to $74.72 a barrel by 0133 GMT, having snapped three days of losses to settle 1.4% higher on Thursday. U.S. West Texas Intermediate crude was at $68.33 a barrel, down 2 cents after closing 1.1% high...
Oil steadies as investors take stock of banking crisis
Oil steadies as investors take stock of banking crisis
Source: Reuters
17/03/2023 8:59:27 AM
Jefferies sees softer impact of Credit Suisse crisis on India  India's banking sector will likely have a softer impact from the troubles at Credit Suisse, given the Swiss lender's relatively small presence in the country, equity analysts at Jefferies said on Thursday. Credit Suisse has a 1.5% share among foreign banks' assets in India and a 'small' 0.1% share of overall banking assets in the country, Jefferies estimated. It has only 1 branch in India and total assets of over 200 billion rupees ($2.42 billion), it said. &qu...
Jefferies sees softer impact of Credit Suisse crisis on India
Jefferies sees softer impact of Credit Suisse crisis on India
Source: Reuters
16/03/2023 5:13:07 PM
Credit Suisse thrown $54 billion lifeline in rush to ward off global bank crisis Credit Suisse said on Thursday it would borrow up to $54 billion from Switzerland's central bank to shore up liquidity and investor confidence, after a slump in its shares had intensified fears about a global banking crisis. The bank's announcement, which came in the middle of the night in Zurich, prompted a 24% rise in Credit Suisse shares and helped reverse some of the heavy losses on stock markets driven by investor fears over potential bank runs across the world. Credit Suis...
Credit Suisse thrown $54 billion lifeline in rush to ward off global bank crisis
Credit Suisse thrown $54 billion lifeline in rush to ward off global bank crisis
Source: Reuters
16/03/2023 5:06:27 PM
Credit Suisse secures $54 billion lifeline as authorities rush to avert global bank crisis Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a global banking crisis. The Zurich-based bank's announcement helped reverse some of the heavy share market losses and restored confidence in wider financial markets, which were battered on Wednesday and into Asia trade on Thursday as investors fretted about potential runs on global bank deposits. ...
Credit Suisse secures $54 billion lifeline as authorities rush to avert global bank crisis
Credit Suisse secures $54 billion lifeline as authorities rush to avert global bank crisis
Source: Reuters
16/03/2023 3:34:36 PM
Rupee weakens against US dollar on Thursday Indian rupee weakened against the US dollar on Thursday amidst continued outflow of foreign funds from the capital market, while investors are cautious ahead of next week´s Federal Open Market Committee meeting. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,271.25 crore, exchange data showed. Meanwhile, India's February exports contracted for the third consecutive month, falling 8.8% to $33.88 billion ...
Rupee weakens against US dollar on Thursday
Rupee weakens against US dollar on Thursday
Source: Accord Fintech
16/03/2023 1:01:44 PM
Troubled bank Credit Suisse to borrow up to $54bn from Swiss central bank Troubled banking giant Credit Suisse says it will borrow up to $54 billion from the Swiss central bank to shore up its finances. The lender said it was taking decisive action to strengthen its liquidity as it looked to become a simpler bank, the BBC reported. Shares in Credit Suisse fell 24 per cent on Wednesday after it said it had found "weakness" in its financial reporting. This prompted a general sell off on European markets, and fears of a wider financial crisis. Cr...
Troubled bank Credit Suisse to borrow up to $54bn from Swiss central bank
Troubled bank Credit Suisse to borrow up to $54bn from Swiss central bank
Source: IANS
16/03/2023 12:52:59 PM
Credit Suisse shares plunge to record low Shares of embattled Swiss bank Credit Suisse fell to a record low on Tuesday after a report that regulators are reviewing comments the lenders chairman made about the health of its finances, according to a media report. The bank's stock plunged as much as 9 per cent to trade at 2.52 Swiss francs ($2.73), before recovering slightly, CNN reported. The latest cloud to emerge over Credit Suisse follows news earlier this month that the bank had suffered its biggest annual loss since the ...
Credit Suisse shares plunge to record low
Credit Suisse shares plunge to record low
Source: IANS
22/02/2023 9:25:23 AM
Credit Suisse fighting for its survival  Speculation surrounding the future of the Swiss banking giant, Credit Suisse has been going on for several months in the markets, in business and political circles, as well as on social networks, The Street reported. The second Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the US bank Lehman Brothers in September 2008. This ev...
Credit Suisse fighting for its survival
Credit Suisse fighting for its survival
Source: IANS
3/10/2022 9:29:40 AM
Yen tumbles from two-week high into BOJ decision, dollar bounces TOKYO - The yen retreated sharply from its highest point in nearly two weeks on Friday, with the Bank of Japan likely to keep its ultra-easy policy, defying pressure from aggressive tightening at peers including the Federal Reserve and Swiss National Bank. The dollar clawed its way back from a one-week low against major peers, following a two-day slide after the Federal Reserve's mid-week rate increase that, although the biggest since 1995, didn't exceed market expectations. The...
Yen tumbles from two-week high into BOJ decision, dollar bounces
Yen tumbles from two-week high into BOJ decision, dollar bounces
Source: Reuters
17/06/2022 8:05:08 AM
Shock Swiss rate hike sets markets on edge ahead of BOJ SINGAPORE - World stocks on Friday headed for their worst week since markets' pandemic meltdown in March 2020, as investors feared sharp rate hikes tipping economies into recession, while growth fears and a soaring Swiss franc whacked the U.S. dollar. A shock 50 basis point rate hike from the Swiss National Bank overnight sent the franc on its sharpest rise in seven years, forced an unwind of carry trades and set off a new round of worry that rising global rates will snuff out gro...
Shock Swiss rate hike sets markets on edge ahead of BOJ
Shock Swiss rate hike sets markets on edge ahead of BOJ
Source: Reuters
17/06/2022 8:01:17 AM
Shares resume slide on growth fears as Swiss, UK hike rates NEW YORK  -World stocks resumed their slide on Thursday and government bonds hovered at multi-year highs after a series of rate rises from global central banks rekindled fears that aggressive policy tightening could drag economies into recession. Following a relief rally on Wednesday when investors cheered the Federal Reserve's aggressive move to raise rates by 75 basis points - its biggest rate hike since 1994 - by scooping up shares, two other spates of policy tightening in Brit...
Shares resume slide on growth fears as Swiss, UK hike rates
Shares resume slide on growth fears as Swiss, UK hike rates
Source: Reuters
16/06/2022 8:58:32 PM
Central banks opt for shock and awe to tame inflation LONDON  - The Federal Reserve has just delivered its biggest interest rate rise in over a quarter of a century and even the hitherto dovish Swiss National Bank has taken markets by surprise with an aggressive rate hike. Here's a look at where policymakers stand in the race to contain red-hot inflation. Graphic: Rate hike checklist Rate hike checklist - https://graphics.reuters.com/GLOBAL-CENTRALBANKS/zdvxowbjbpx/chart.png   1) NORWAY Norway's Norges Bank was t...
Central banks opt for shock and awe to tame inflation
Central banks opt for shock and awe to tame inflation
Source: Reuters
16/06/2022 8:36:28 PM