2023

By Laura Sanicola and Muyu Xu -Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But battered by fears of a deepening crisis for banks worldwide, market sentiment remained fragile with both…

By Munsif Vengattil, Aditya Kalra and Saurabh Sharma NEW DELHI/LUCKNOW (Reuters) – Xiaomi Corp is overhauling its India strategy after misjudging consumer tastes in mobile phones, a costly lapse that has allowed Samsung Electronics to pip the Chinese company to the top spot in the world’s second biggest market for the devices. While Xiaomi remained…

By Laura Sanicola and Muyu Xu -Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But battered by fears of a deepening crisis for banks worldwide, market sentiment remained fragile with both…

By Echo Wang and David Shepardson WASHINGTON (Reuters) -The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters on Wednesday. The move is the most dramatic in a series of recent steps by U.S. officials and legislators who…

SINGAPORE (Reuters) – Credit Suisse said on Thursday it was taking “decisive action” to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its shares intensified fears about a broader bank deposit crisis. Efforts by regulators and financial executives to ease contagion fears sparked by last…

By David French and Pete Schroeder (Reuters) -Regulators at the U.S. Federal Deposit Insurance Corp (FDIC) have asked banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank to submit bids by March 17, people familiar with the matter said on Wednesday. The new auctions show how the FDIC is making a concerted…

By Aishwarya Nair and Tim Hepher (Reuters) -Boeing Co predicted a surge in worldwide aircraft financing towards pre-pandemic levels this year, highlighting a rebound in demand for air travel just as aviation was swept up in a stock market rout over banking sector woes on Wednesday. The availability of finance for the 1,000 or more…

By Lananh Nguyen, Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) – Large U.S. banks have managed their exposure to Credit Suisse in recent months and view risks from the lender as contained so far, according to three industry sources on Wednesday who declined to be identified because of the sensitivity of the situation. The…

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. There’s no doubting it now – Credit Suisse has made the banking crisis global and, in classic financial crisis mode, investors are rushing for the global safe havens of the U.S. dollar, U.S. Treasuries and Japanese yen. There…