Brussels proposes an exception for electric fuel cars from 2035 Germany still considering draft EU proposal Berlin sees the state of technology as problematic Objective to make a decision by Thursday BERLIN/BRUSSELS, March 21 (Reuters) – The European Commission has drawn up a plan to allow the sale of new cars with internal combustion engines … Read more
March 21 (Reuters) – As crisis grips the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency looks positively buoyant, much like a banking meltdown pushes markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 lost 1.4% … Read more
WASHINGTON, March 20 (Reuters) – Hard-line Republicans in the House of Representatives vowed on Monday to oppose any universal federal guarantee on bank deposits above the current limit of $250,000, throwing a major hurdle to a key tool regulators could deploy if banks rush again. as financial confidence falters. The Republican House Freedom Caucus said … Read more
March 20 (Reuters) – U.S. banking stocks rose on Monday and European lenders rebounded from a strong early sell-off after the state-backed takeover of Credit Suisse by UBS Group appeared to wipe out a source of concern for the global banking sector. In a package designed by Swiss regulators on Sunday, UBS Group AG (UBSG.S) … Read more
Credit Suisse tumbles more than 60% after emergency weekend takeover European banks recover ground after initial 5% drop Government bonds and gold rally as investors seek safety Wall Street opens flat, First Republic Bank collapses LONDON, March 20 (Reuters) – European bank stocks retaliated on Monday after an early slump and the interactive rush for … Read more
March 19 (Reuters) – Talks to rescue Credit Suisse (CSGN.S) continued on Sunday as UBS AG (UBSG.S) demanded $6 billion from the Swiss government to cover costs if it were to buy his struggling rival, a person with knowledge of the talks said. Authorities are scrambling to resolve a crisis of confidence in the 167-year-old … Read more
March 18 (Reuters) – Credit Suisse Group AG (CSGN.S) entered a breakthrough weekend after some rivals grew cautious about their dealings with the bank as regulators urged it to strike a deal with its Swiss rival UBS AG (UBSG.S). Dixit Joshi, chief financial officer of Credit Suisse, and his teams will meet this weekend to … Read more
NEW YORK, March 17 (Reuters) – Misguided U.S. stocks have gained an unexpected ally in recent days: a historic plunge in bond yields. Yields on US government bonds fell sharply this week, with some durations marking their biggest declines in decades, as investors bet the Federal Reserve would likely rein in its aggressive rate hike … Read more
First Republic Bank tumbles by suspending its dividend SVB Financial files for bankruptcy protection FedEx jumps on boost to full-year earnings forecast Indices down: Dow 1.19%, S&P 1.10%, Nasdaq 0.74% NEW YORK, March 17 (Reuters) – Wall Street closed lower on Friday, marking the end of a tumultuous week dominated by an ongoing crisis in … Read more
March 17 (Reuters) – European Central Bank supervisors see no contagion for eurozone banks following recent turmoil, a source said on Friday, after U.S. lenders threw First Republic Bank (FRC. N) a $30 billion lifeline and levied record amounts from the federal government. Reserve. Major US banks stepped in on Thursday to rescue the San … Read more