Tag: CH
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UBS set for talks with Michael Klein to terminate Credit Suisse investment bank deal – FT
March 21 (Reuters) – UBS (UBSG.S) is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse’s (CSGN.S) investment bank, the Financial Times reported on Tuesday. UBS on Sunday agreed to buy rival Swiss bank Credit Suisse for 3 ... -
Banking turmoil pounding investor confidence, surveys show
LONDON, March 21 (Reuters) – This month’s U.S. banking system turmoil and renewed recession worries have left global investor confidence at one of the lowest levels in the last 20 years, and that does not even account for this week’s demise of Credit Suisse. A monthly survey carried out by investment bank BofA following the ... -
Banking stocks steady after Credit Suisse rescue as focus turns to Fed
March 21 (Reuters) – Investors stepped cautiously into bank stocks on Tuesday, emboldened by the rescue of Credit Suisse, with share prices tentatively rising in Europe and Asia amid lingering concerns about further damage to credit markets and smaller U.S. lenders. After a tumultuous 10 days which culminated in the 3 billion Swiss franc ($3.2 ... -
PIMCO lost $340 mln with Credit Suisse AT1 bonds write-off – source
NEW YORK, March 20 (Reuters) – Bond giant PIMCO lost about $340 million on a category of Credit Suisse bonds that were wiped out by the takeover by UBS (UBSG.S), with the American investment manager’s overall exposure to the Swiss lender running into billions, a source familiar with the situation said. Swiss authorities on Sunday ... -
Oil prices stabilize as banking deal eases some worries about crude appetite
March 21 (Reuters) – Oil prices stabilised on Tuesday after falling early in the previous session on investor worries that recent banking-sector problems would weigh on the global economy and limit demand for crude. Brent crude futures for May settlement gained 5 cents and traded at $73.84 per barrel by 0049 GMT. U.S. West Texas ... -
Gold prices ease as market focus turns to US Fed meeting
March 21 (Reuters) – Gold prices edged down on Tuesday, with investors looking forward to the Federal Reserve policy meeting as expectations grew that the U.S. central bank could pause raising its interest rates given the upheaval among banks. FUNDAMENTALS * Spot gold was down 0.1% at $1,977.69 per ounce, as of 0044 GMT. U.S. ... -
Toronto market rallies as energy, financials gain
TSX ends up 131.71 points, or 0.7%, at 19,519.43 Energy rises 2.9%; oil settles 1.4% higher Financials add 0.5% March 20 (Reuters) – Canada’s main stock index rose on Monday, helped by gains for resource and financial shares, as some calm returned to financial markets after recent turmoil in the banking sector. The Toronto Stock ... -
Oil prices rebound after hitting lowest since 2021 on banking fears
Brent, WTI hit lowest in 15 months Uncertainty reigns as Fed considers interest rate hike U.S. Fed begins two-day meeting on Tuesday G7 to hold off revising Russian oil price cap – EU officials NEW YORK, March 20 (Reuters) – Oil prices rebounded and rose over 1% on Monday after diving to their lowest levels ... -
Commodities trader Vitol’s turnover jumps over 80% in 2022
March 20 (Reuters) – Global commodities trader Vitol said on Monday its 2022 revenues shot up to $505 billion, a jump of 80% from a year earlier, as energy prices surged on the back on the Ukraine-Russia war. The Swiss firm said it delivered 7.4 million barrels a day (bpd) of crude oil and products ... -
Morning Bid: Fed halt being priced as bank blaze smoulders
A look at the day ahead in U.S. and global markets from Mike Dolan Another weekend of financial firefighting has doused the whole interest rate horizon as the banking blaze smoulders. Central banks face a battle to separate serial financial rescues from underlying monetary policy. But world markets now bet their interest rate rise campaigns ...
