LONDON (Reuters) – At an incredible end to the first quarter for financial markets, rattled by bank turmoil, some stability will be much hoped for in coming days. But don’t bet on it. Regional U.S. banking stocks remain near their lowest levels in two years, Europe is weighing up the fallout from the forced UBS-Credit…
BEIJING (Reuters) -Alibaba founder Jack Ma has returned to China, the South China Morning Post (SCMP) reported on Monday, ending a more than year-long sojourn overseas that was viewed by industry as reflecting the sober mood of China’s private businesses. Ma, one of China’s best known entrepreneurs, left mainland China in late 2021 and has…
(Reuters) -First Citizens BancShares Inc will acquire all of Silicon Valley Bank’s deposits and loans from the Federal Deposit Insurance Corporation (FDIC), according to the regulator. The acquisition by unit First–Citizens Bank & Trust Company includes the purchase of about $72 billion of Silicon Valley Bank’s assets at a discount of $16.5 billion, the FDIC…
(Reuters) – First Citizens Bank & Trust Co will buy all of Silicon Valley Bank’s deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D’Souza)
BEIJING (Reuters) -The slump in Chinese industrial firms’ profits deepened in the first two months of 2023, weighed by lacklustre demand and stubbornly high costs as the world’s second-largest economy struggled to fully shake the long-term effects of COVID. The sharp 22.9% contraction followed a 4.0% fall in industrial profits for the whole of 2022,…
By Ankur Banerjee SINGAPORE (Reuters) – 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…
By Florence Tan SINGAPORE (Reuters) – Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. Brent crude futures gained 33 cents, or 0.4%, to $75.32 a barrel at 0040 GMT. U.S….
(Reuters) -First Citizens BancShares Inc was in advanced talks to acquire Silicon Valley Bank, a person familiar with the matter told Reuters on Sunday. First Citizens could reach a deal as soon as Sunday to acquire Silicon Valley Bank from the Federal Deposit Insurance Corp (FDIC), according to Bloomberg News, which first reported the development….
STOCKHOLM (Reuters) – The Swedish central bank might have underestimated inflationary pressure and will likely have to stick to its forecasts of another interest rate hike in April, Riksbank Governor Erik Thedeen said on Sunday. The central bank has raised rates to 3% from 0% a year ago and has yet to curb 9.4% inflation,…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asia’s economic data and policy calendar this week is light, which is perhaps just as well because investors’ focus is firmly fixed elsewhere – the global banking crisis and what it means for growth, markets, and policy. Some…
