Nearly $100 billion in deposits pulled from banks; officials call system ‘sound and resilient’
Regulators again assured the public that the system is safe, as data showed customers pulled nearly $100 billion in deposits.
Financial News
Deutsche Bank shares slide 14% after sudden spike in the cost of insuring against its default
Deutsche Bank shares fell 14% on Friday after a spike in credit default swaps on Thursday night, as concerns about the stability of Europe’s banks persisted.
Bank of England hikes interest rates by 25 basis points after inflation surprises
The Bank of England on Thursday hiked interest rates to their highest level since 2008 as it grapples with persistent high inflation.
UK inflation rate breaks 3-month stretch of declines with surprise rise to 10.4%
U.K. inflation unexpectedly jumped in February as food and energy bills continued to soar, placing further pressure on households.
‘A financial banana republic’: UBS-Credit Suisse deal puts Switzerland’s reputation on the line
The demise of banking giant Credit Suisse sent shockwaves through financial markets and appears to have dealt a blow to Switzerland’s reputation for stability.
‘Shotgun wedding’: What the UBS rescue of Credit Suisse means for global markets
Despite bold proclamations about a return to stability, the sale of Credit Suisse to UBS does not appear to have laid to rest contagion concerns.
BlackRock denies report that it’s preparing a takeover bid for Credit Suisse
“BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so,” a company spokesperson told CNBC.
Fail or sale? What could be next for stricken Credit Suisse
JPMorgan’s Kian Abouhossein described a Credit Suisse takeover by UBS as “the more likely scenario.”
Credit Suisse sheds another 10% as traders digest emergency liquidity
Credit Suisse shares fell 10% Friday morning after soaring over the previous session.
Credit Suisse shares soar over 20% on Swiss National Bank loan announcement
Credit Suisse shares rose over 30% at the market open after the bank said that it will borrow up to $54 billion from the Swiss National Bank.