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…
SHANGHAI (Reuters) – China kept its benchmark lending rates unchanged for the seventh straight month in March, as expected, after the central bank surprised markets last week by moving to lower the amount of cash banks must set aside as reserves. Market watchers widely believe the need for more imminent monetary easing was reduced after…
LONDON/NEW YORK (Reuters) – UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. Meanwhile, global central banks said they would open daily dollar taps to their banks. Here are comments from market analysts: JEFFERIES’ EUROPEAN ANALYSTS: “It’s…
By Florence Tan SINGAPORE (Reuters) – Oil prices rose on Monday after suffering their biggest weekly loss in months as UBS struck a deal to buy Credit Suisse and some of the world’s largest central banks sought to reassure and stabilise global financial markets. Brent crude futures rose 35 cents, or 0.5%, to $73.32 a…
By Tom Westbrook SINGAPORE (Reuters) – U.S. stock futures rose in Asian trade on Monday in relief at a weekend rescue deal for Credit Suisse, though the mood was nervous and financial shares remained under pressure from contagion fears, even with support from global central banks. S&P 500 futures rose 0.5% in bumpy early trade….
By Pablo Mayo Cerqueiro, Chiara Elisei and Davide Barbuscia LONDON/NEW YORK (Reuters) – Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders on Sunday. FINMA, the…
By Dhara Ranasinghe and Amanda Cooper LONDON (Reuters) – Financial markets are poised for relief on Monday after UBS Group AG agreed to buy Credit Suisse Group AG in a rescue orchestrated by the state and major central banks announced a co-ordinated move to shore up liquidity in the financial system. In an early sign…
By Pablo Mayo Cerqueiro and Chiara Elisei LONDON (Reuters) – Credit Suisse has written down its Additional Tier 1 bonds to zero as part of its takeover by UBS, angering some bondholders who thought they would be better protected in a rescue deal announced on Sunday. The Swiss regulator and Credit Suisse said that the…
