SHANGHAI (Reuters) – China’s central bank made a “timely” move by pumping liquidity into the banking system to respond to rising pressures in the domestic banking industry and growing risks abroad, a state-owned Chinese newspaper said on Saturday. The central bank on Friday reduced the amount of cash banks must hold as reserves for the…
(Reuters) – Pacific Western Bank, a unit of PacWest Bankcorp, said on Friday it had witnessed ‘elevated’ withdrawals following the collapses of Silicon Valley Bank and Signature Bank, but deposit movements had stabilized since Monday. The Los Angeles-based bank gave no details on the sum of the withdrawals but said they were mainly from its…
By Stephen Nellis and Krystal Hu (Reuters) -Huawei Technologies Co Ltd has replaced more than 13,000 parts in its products that were hit by U.S. trade sanctions, the Chinese tech giant’s founder said, according to a speech transcript posted on Friday by a Chinese university. According to the transcript of the February speech posted by…
By Stefania Spezzati and Oliver Hirt (Reuters) -Credit Suisse Group AG headed into a make-or-break weekend after some rivals grew cautious in their dealings with the struggling Swiss lender, and its regulators urged it to pursue a deal with UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over…
By Jeff Mason and Kanishka Singh WASHINGTON (Reuters) -U.S. President Joe Biden said on Friday the banking crisis after the recent collapse of the Silicon Valley Bank (SVB) and Signature Bank has calmed down. “Yes,” Biden told reporters when asked if the banking crisis had calmed down. Biden has sought to reassure investors and depositors…
(Reuters) -Former U.S. President Donald Trump posted to YouTube and Facebook on Friday, in a return to the tech platforms he used to power his political rise until he was cut off following the Jan. 6, 2021, attack on Congress by his followers. The posts on his Facebook page and YouTube channel, which were titled…
(Reuters) -Former U.S. President Donald Trump posted to YouTube and Facebook on Friday, in a return to social media platforms that he used to power his political rise until he was cut off following the Jan. 6, 2021, attack on Congress by his followers. Trump shared a video that appeared to be from one of…
(Reuters) – The Texas agency that regulates the state’s power utilities overstepped its bounds and kept power prices too high in the wake of a deadly 2021 deep freeze that led to widespread electricity outages, according to a Texas appeals court ruling on Friday. The Public Utility Commission of Texas (PUCT) exceeded “limits on its power”…
(Reuters) – U.S. regulators are willing to consider the prospect of the government backstopping losses at Silicon Valley Bank and Signature Bank if it helps push through a sale, the Financial Times reported on Friday, citing people briefed on the matter. Sources told Reuters on Wednesday that regulators at the U.S. Federal Deposit Insurance Corp…
(Reuters) -Alphabet Inc-owned YouTube said on Friday it lifted restrictions on former U.S. President Donald Trump’s channel, following a more than two-year suspension after the deadly Capitol Hill riot on Jan. 6, 2021. Trump now has access to key vehicles for political fundraising and the ability to reach his combined 146 million followers across three…
