STORY: Said Gilbert, "[rising] interest rates haven't affected the consumer that much," particularly when it comes to purchasing automobiles. "Because the auto manufacturers have been subsidizing the rates and offering incentives... that's keeping consumers still buying autos. But even in the autos," Gilbert added, "we're seeing a slowdown."
Could isolated failures herald another global banking crisis?
The INEOS chief executive and his team held talks with the club last Friday.
Sea Ltd. has made the changes it needs to deliver profits over the long haul, billionaire founder Forrest Li said in a memo to staff.
KUALA LUMPUR, March 21 — Khazanah Nasional Berhad has limited exposure to the problems currently faced by United States-...
The current environment is the perfect setting for the decentralized financial system to stand out as an alternative to traditional banking, the report said.
A shotgun marriage between two Swiss rivals.
Shares of First Republic Bank closed 47% lower on Monday, adding to recent losses as concerns about its liquidity continued to worry investors despite a $30 billion influx of deposits last week. The bank's stock fell as much as 50% and closed at $12.18 after the New York Stock Exchange halted it several times due to volatility. S&P Global downgraded First Republic deeper into junk status on Sunday and said the recent cash infusion from 11 large U.S. banks last week may not solve its liquidity problems.
U.S. stock futures are higher ahead of the open on Tuesday following the U.S. and European efforts to stabilize the banking system.
On Sunday, it was revealed that Switzerland's largest bank, UBS, agreed to buy Credit Suisse. Valued at roughly $3.25 billion, the purchase price is a significant discount relative to the bank's value last Friday after markets closed.
The tech trade comes back.
Yahoo Finance Live anchors Julie Hyman and Brad Smith discuss the rise in gold.
Bitcoin is in the spotlight as cracks emerge in the traditional banking system, one observer said, explaining the negative spread between ether and bitcoin implied volatility metrics.
Time to add Credit Suisse (CS) to the list of bank failures we’ve seen so far in 2023. Over the weekend UBS agreed to buy Credit Suisse for what equates to about $3.25 billion of UBS stock complete with the Swiss government helping absorb some of the coming writedowns of CS’s loan book. UBS had to step in to save CS after last Wednesday's 50 billion Swiss franc liquidity injection from the Swiss National Bank proved insufficient to buoy the bank’s operations once the Saudi National Bank (CS’s largest shareholder) said it wouldn’t provide any more assistance.
Financial authorities in Singapore and Hong Kong gave assurances Credit Suisse will remain open for business.
LONDON/HONG KONG (Reuters) -Bitcoin climbed to a nine-month high on Monday as turmoil in the banking sector drives some investors to turn to digital assets, as the cryptocurrency built on its best week in four years. The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes. Bitcoin rose 26% last week, its best weekly gain since April 2019, and has soared some 40% in 10 days as turmoil in the banking sector rippled around the globe - culminating, so far, in UBS Group's takeover of rival Credit Suisse Group AG over the weekend.
The Federal Reserve's latest policy decision will come Wednesday afternoon as investors have endured what have been two of the most turbulent weeks for the financial sector since the 2008 crisis.
Bitcoin dipped into the red ahead of this week's Federal Reserve interest rate meeting.
New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday. The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank's subsidiaries.
Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.
Yahoo Finance Live’s Julie Hyman reports that Laxman Narasimhan has replaced Howard Schultz as the CEO of Starbucks
