By Echo Wang and David Shepardson WASHINGTON (Reuters) -The Biden administration has demanded that TikTok’s 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 is the most dramatic in a series of recent steps by U.S. officials and legislators who…
SINGAPORE (Reuters) – Credit Suisse said on Thursday it was taking “decisive action” to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its shares intensified fears about a broader bank deposit crisis. Efforts by regulators and financial executives to ease contagion fears sparked by last…
By David French and Pete Schroeder (Reuters) -Regulators at the U.S. Federal Deposit Insurance Corp (FDIC) have asked banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank to submit bids by March 17, people familiar with the matter said on Wednesday. The new auctions show how the FDIC is making a concerted…
By Aishwarya Nair and Tim Hepher (Reuters) -Boeing Co predicted a surge in worldwide aircraft financing towards pre-pandemic levels this year, highlighting a rebound in demand for air travel just as aviation was swept up in a stock market rout over banking sector woes on Wednesday. The availability of finance for the 1,000 or more…
By Lananh Nguyen, Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) – Large U.S. banks have managed their exposure to Credit Suisse in recent months and view risks from the lender as contained so far, according to three industry sources on Wednesday who declined to be identified because of the sensitivity of the situation. The…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. There’s no doubting it now – Credit Suisse has made the banking crisis global and, in classic financial crisis mode, investors are rushing for the global safe havens of the U.S. dollar, U.S. Treasuries and Japanese yen. There…
By Noele Illien, John Revill and Tom Sims (Reuters) – Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender’s shares tumbled as much as 30% on Wednesday. In a joint statement, the Swiss financial regulator FINMA and the nation’s central bank sought…
By Hannah Lang (Reuters) – The U.S. consumer finance watchdog launched an inquiry on Wednesday to examine companies that track and collect personal data, requesting public feedback about the business models and practices data brokers use. The U.S. Consumer Financial Protection Bureau’s request for information marks the latest move from the regulator to explore how…
By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) -The dollar rose on Wednesday on safe-haven buying after Credit Suisse’s stock tumbled following the disclosure of “weaknesses” in its financial reporting that renewed investor concerns that a full-blown global banking crisis may be brewing. European currencies fell sharply against the dollar, with Credit Suisse shares…
By Noele Illien, John Revill and Tom Sims ZURICH/FRANKFURT (Reuters) -Swiss financial regulator FINMA and the nation’s central bank said on Wednesday that the Swiss National Bank would provide Credit Suisse liquidity “if necessary”, a first for a global bank since the financial crisis. The two institutions said in a joint statement that Credit Suisse…
