By Stephanie Kelly NEW YORK (Reuters) -Oil prices bounced up on Monday in volatile trade after diving to their lowest levels in 15 months as the market worried that risks in the global banking sector could spark a recession that would sap fuel demand. Brent crude futures for May edged higher 3 cents to $73.00…
By Dietrich Knauth (Reuters) -Bankrupt crypto exchange FTX has sued the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, accusing them of wrongly claiming ownership of the exchange’s assets. FTX Trading, led by new CEO John Ray, on Sunday asked a U.S. bankruptcy judge in Delaware to rule that FTX Digital Markets…
(Reuters) – BlackRock Investment Institute said on Monday it was downgrading credit and preferred short-term bonds for income, with strategists pointing to financial cracks from rapid interest rate hikes. “We stay risk-off: underweight developed market (DM) stocks and trim credit to neutral. But we are ready to seize opportunities as macro damage gets priced in….
NEW YORK (Reuters) – A former top executive at proxy solicitor Kingsdale Advisors on Monday said he launched a new firm amid growing demand for advice on engaging with shareholders as corporate agitators push for more changes at companies. Michael Fein, who headed Canadian firm Kingsdale’s U.S. operations as president, U.S., until the start of…
(Reuters) -Amazon.com Inc on Monday said it would axe another 9,000 roles totaling 27,000 job cuts in recent months, trimming from its long-profitable cloud unit that’s facing new headwinds and making it the latest tech company to announce a second layoff round in the face of a possible recession. In a note to staff posted…
(Refiles to remove extraneous comment from paragraph 11) By Nell Mackenzie LONDON (Reuters) -Hedge fund manager Boaz Weinstein pinned hopes on Credit Suisse’s survival, but also money on its demise. His derivatives trade which bet both on the success and failure of the bank now looks set to pay off, according to data from IHS…
By John Revill ZURICH (Reuters) – Switzerland’s two biggest political parties sharply criticized UBS’s takeover of Credit Suisse saying multi-billion state support for the deal created enormous risks for the country. Swiss authorities announced on Sunday that UBS had agreed to buy rival Swiss bank Credit Suisse in a shotgun merger aimed at containing a…
By Shubham Batra and Amruta Khandekar (Reuters) – U.S. stock index futures struggled for direction on Monday as investors weighed a state-backed takeover of Credit Suisse aimed at averting a banking crisis and odds of the Federal Reserve keeping interest rates unchanged at its next meeting. Traders have raised bets of the Fed likely hitting…
By Tom Westbrook SINGAPORE (Reuters) – The rudest shock in the rushed deal to save embattled Swiss lender Credit Suisse Group AG was reserved for the holders of the bank’s riskiest tranche of bonds. Not only did investors discover they are the only investors not getting any compensation but that the long-established practice of giving…
FRANKFURT (Reuters) – A Swiss orchestrated rescue of Credit Suisse by rival UBS has failed to calm nerves as investors worry which banks could be next in line. Here’s a look at the European Central Bank’s “toolbox”, which has been expanded over the past 15 years in response to the global financial crisis of 2008,…
