Jeremy Hunt says "the UK banking system is extremely secure" as its revealed that HSBC has bought the now-collapsed Silicon Valley Bank UK. The chancellor reveals that a "number of our most promising and important technology and life science companies" had their money in the bank.
To get a deal done, government regulators agreed to a series of concessions.
Fallen crypto-tycoon Sam Bankman Fried has been accused by US authorities of paying a $40m bribe to Chinese government officials.
Alibaba announced Tuesday that it would split into six business groups in one of the most significant overhauls of a leading Chinese tech firm to date.The Hangzhou-based firm is one of China's most prominent tech giants, with business operations spanning cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence.
S&P now expects a the UK economy to contract by only 0.5% in 2023.
Home prices continue to moderate in the U.S. with prices falling month-over-month nationwide to start 2023, while some key markets are still seeing prices drop against last year.
Bitcoin (BTC-USD) dipped below the $27,000 mark after news emerged that Binance, the world’s largest cryptocurrency exchange, is facing a US ban.
Asian stocks were mixed Monday in a cautious start to what could be another rocky week for global markets, after a rout in banking shares renewed fears for the sector.After markets closed on Friday, Biden said banks are "in pretty good shape" following the recent financial sector turmoil.
Alibaba is splitting itself into into six business groups as the Chinese e-commerce company attempts to become more nimble in reacting to changes in the market and increase the value of those units. Alibaba Group Holding Ltd. said in a regulatory filing Tuesday that the six new groups will be made up of the Cloud Intelligence Group, Taobao Tmall Business Group, Local Services Group, Global Digital Business Group, Cainiao Smart Logistics and Digital Media and Entertainment Group.
Silicon Valley Bank collapse 'fastest since Barings' says Andrew Bailey.
A bank crisis has pressured financial markets and made it hard for investors to know where to turn for signs of stability or worry. A few key readings on volatility, the bond market, and the currency market offer some guidance.
CSTM, ATKR, CAR, BLMN and ICFI have been added to the Zacks Rank #1 (Strong Buy) List on March 28, 2023.
With natural gas prices having depreciated significantly in 2023, we advise focusing on fundamentally sound companies like SBOW and LNG.
The UK Treasury has abandoned its proposal for the Royal Mint to develop its own non-fungible token (NFT).
The share of home loans taken out by low-income borrowers falls by 16% when interest rates rise by one percentage point.
CFTC is accusing the world's largest crypto exchange of selling digital assets to U.S. customers despite not being registered to do so.
Bank shares rebounded sharply on Monday after First Citizens BancShares Inc said it would acquire the deposits and loans of Silicon Valley Bank, whose collapse earlier this month sparked a selloff in the sector. The KBW regional banking index slipped 0.1%, while the big U.S. banks including JP Morgan Chase & Co, Bank of America and Citigroup were up marginally. "The fact that we've got answers on Silicon Valley Bank, Signature Bank and Credit Suisse means that we have more answers than questions," said Art Hogan, chief market strategist at B Riley Wealth in Boston.
The Geneva watch fair opened Monday buoyed by booming growth in the watchmaking industry, but insiders warily eyed the banking sector turmoil, evoking painful memories of the 2008 financial crisis.But optimism at the Geneva fair was somewhat dampened by the angst surrounding the turbulence currently lashing the banking sector.
The term ‘credit default swap’ (also known as CDS) is back in the news on the heels of the Silicon Valley Bank (SIVB) fallout and the crisis at Credit Suisse (CS). Credit default swaps have historically played a major role in how financial institutions attempt to mitigate risk. A CDS is an insurance contract on a bond or a loan in which one party or entity purchases protection from another to protect against the risk of default. Yahoo Finance’s Jared Blikre breaks it all down in layman's terms.
The skyrocketing of inflation and mortgage rates has made the Help to Buy equity loan harder to pay off but there are things you can do to manage it.
In the latest trading session, Applied Materials (AMAT) closed at $118.87, marking a -0.55% move from the previous day.
