MOSCOW (Reuters) -The Kremlin told officials involved in preparations for Russia’s 2024 presidential election to stop using Apple iPhones because of concerns that the devices are vulnerable to Western intelligence agencies, the Kommersant newspaper reported. At a Kremlin-organised seminar for officials involved in domestic politics, Sergei Kiriyenko, first deputy head of the presidential administration, told…
By Amanda Cooper, Scott Murdoch and Tom Westbrook (Reuters) -Banking stocks and bonds plummeted on Monday after UBS Group sealed a state-backed takeover of troubled peer Credit Suisse Group AG, a deal that was orchestrated in an attempt to restore confidence in a battered sector. In a package engineered by Swiss regulators on Sunday, UBS…
(Reuters) – UBS agreed to buy rival bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) and assume up to $5.4 billion in losses, in a shotgun merger engineered by Swiss authorities. But banking stocks and bonds plummeted on Monday as confidence in the sector remained fragile. DEVELOPMENTS * In a global response not…
By Yantoultra Ngui, Summer Zhen and Selena Li SINGAPORE/HONG KONG (Reuters) – Credit Suisse staff arriving to work in Hong Kong and Singapore on Monday morning fretted about retrenchments and retaining business after larger Swiss rival UBS agreed to swallow the 167-year-old bank in a state-backed rescue. Late on Sunday, Swiss authorities capped a tense…
By Stefania Spezzati, Scott Murdoch and Tom Westbrook (Reuters) -Banking stocks tumbled on Monday as initial relief over a historic state-backed rescue of troubled lender Credit Suisse by Swiss rival UBS Group gave way to new worries about the risks of high-yield debt issued by big banks. In a package orchestrated by Swiss regulators on…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s top government spokesperson said on Monday the banking system was stable, seeking to reassure markets the country won’t see a contagion from U.S. and European banking sector woes. Chief Cabinet Secretary Hirokazu Matsuno also welcomed Sunday’s decision by top central banks, including the Bank of Japan…
By Chris Taylor NEW YORK (Reuters) – There are a lot of guilty pleasures out there, but here is one common to plenty of movers and shakers on Wall Street: Watching “Succession.” The fourth season of the popular HBO series premieres on March 26, tracking the dysfunctional Roy family as they continue to gobble up…
By Svea Herbst-Bayliss and Lawrence Delevingne NEW YORK/BOSTON (Reuters) – Hedge funds managers and other large investors believe it is far too soon to call an all-clear on turmoil in the global financial sector even after more than a week of financial lifelines, central bank assurances and a massive banking rescue deal. In the past…
