By Tetsushi Kajimoto TOKYO (Reuters) – Japan and Germany agreed on Saturday to coordinate closely on financial jitters stemming from problems among Western banks while carefully monitoring global markets and economy, a Japanese finance ministry official told Reuters. The agreement came in a 45-minute meeting between Japanese Finance Minister Shunichi Suzuki and German Finance Minister…
(Reuters) – A senior official at the People’s Bank of China said on Saturday the collapse of Silicon Valley Bank (SVB) showed how rapid monetary policy shifts were having spillover effects, state-owned newspaper Shanghai Securities News reported. Xuan Changneng, a deputy governor at the People’s Bank of China told the Global Asset Management Forum in…
By Stefania Spezzati and Oliver Hirt (Reuters) – Credit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank as regulators urged it to pursue a deal with Swiss rival UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the…
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…
