Exclusive: EU plans plan to allow e-fuel combustion engine cars

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

Bank stocks rise after Credit Suisse bailout eases crisis

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

Safety rush subsides as markets digest Credit Suisse bailout

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

Critical moment for Credit Suisse talks as UBS seeks Swiss assurances

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

Credit Suisse meets to weigh options, under pressure to merge with UBS

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

ECB watchdog sees no European contagion after bailout of US and Swiss banks

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

European stocks rise as market sentiment recovers after banking turmoil

European stocks rise at the start of European trading The ECB raised by 50 basis points and lowered its forecast First Republic Bank receives $30 billion injection, concerns persist Fed data showed banks seeking record emergency liquidity LONDON, March 17 (Reuters) – European stock indices rose in early trading on Friday, extending the rally from … Read more

Senior US envoy to visit Honduras as he considers relations with China

TEGUCIGALPA, March 16 (Reuters) – A high-ranking envoy of President Joe Biden will visit Panama and Honduras this month, the U.S. State Department said on Thursday, days after Taiwan’s ally, the Honduras, announced that it would establish official diplomatic relations with China. Chris Dodd, the US president’s special adviser for the Americas, will visit the … Read more

US banking system sound but not all deposits guaranteed, says Yellen

WASHINGTON, March 16 (Reuters) – The U.S. banking system remains strong and Americans can be sure their deposits are safe, Treasury Secretary Janet Yellen said on Thursday, but she denied emergency measures after two major bank failures meant that a comprehensive government guarantee now existed for all deposits. In his first public remarks since the … Read more

US weekly jobless claims fall; find accommodation downstairs

Weekly jobless claims fall by 20,000 to 192,000 Continuing claims decrease by 29,000 to 1.684 million Single-family housing starts increase by 1.1% in February Import prices fall by 0.1%; down 1.1% year-on-year WASHINGTON, March 16 (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week, indicating continued … Read more