Tag: United States
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Asian currencies subdued as investors await Fed decision
A customer buys vegetables at a wet market in Pattaya of Chon Buri province on March 5, 2023. (Photo: Bloomberg) SYDNEY: Most Asian currencies were tepid on Wednesday, with the Philippine peso falling most, as investors await the conclusion of the Federal Reserve’s (Fed) policy meeting for clarity on the future United States rate path. ... -
Gold price could hit high amid SVB, Credit Suisse, bank problems
Gold prices have more room to rise and could go as high as $2,600 per ounce. Investors have been turning to gold and Treasurys after the collapse of Silicon Valley Bank and Credit Suisse’s struggles. Gold’s all-time high was $2,075 in August 2020, according to Refinitiv data. Investors have been flocking to gold and Treasurys ... -
Japan stocks higher around 2%, leading gains in Asia ahead of Fed’s key rate decision
2 Hours Ago Healthcare and consumer cyclicals lead Hang Seng higher The Hang Seng index led gains in the Asia-Pacific region on Wednesday, powered by health-care and consumer cyclical stocks. Shares of Geely saw the biggest moves, up 7.16% after the automaker posted a 45.6% year on year gain in revenue for the whole of ... -
How Not to Win in Great Power Competitions
Bank failures in the United States happen more often than one might think. According to the Federal Deposit Insurance Corporation, there have been 563 bank failures in the United States between 2001-March 2023, or about 25 per year. The fall of the sixteenth largest bank, the Silicon Valley Bank (SVB), is another piece of evidence ... -
Asia-Pacific markets rise after Wall Street sees bank stocks rebound
17 Mins Ago Oil prices rise following OPEC sees improved Chinese oil demand Oil prices rose more than a dollar after OPEC lifted its forecast for China’s oil demand growth in 2023. “China’s reopening, following the lifting of the strict zero-Covid policy, will add considerable momentum to global economic growth,” stated the oil report. Brent crude ... -
global markets fall after SVB collapse
11 Mins Ago European banks are ‘fundamentally different’ from SVB, consultancy says Seb Walker, partner at Tricumen, says the challenge that Silicon Valley Bank faced was a “mismatch between their lending and their deposits, and that’s just not the case with most of the European banks.” An Hour Ago How the SVB collapse affected the ... -
HSBC buys Silicon Valley Bank UK
16 Mins Ago Stocks on the move: Balder up 4.8%, Wise down 12% Swedish real estate company Fastighets AB Balder topped European stocks in late afternoon trade, up 4.8% amid a broadly downbeat Stoxx 600 index. Fintech foreign exchange platform Wise plunged 12% after announcing it had funds in collapsed Silicon Valley Bank, despite a ... -
Biden to announce Australia submarine deal in San Diego
WASHINGTON (AP) — President Joe Biden is set to meet with two of America’s closest allies to announce that Australia will purchase U.S.-manufactured, nuclear-powered attack submarines to modernize its fleet, amid growing concerns about China’s influence in the Indo-Pacific region. Biden is traveling Monday to San Diego, where he will meet Australian Prime Minister Anthony ... -
United States Plans to Invest $6 Billion to Protect World’s Oceans
Biden is making moves to protect our oceans. Photo: Matt Hardy/Unsplash The United States is making big moves to protect the world’s oceans. During the Our Ocean Conference in Panama the United States announced that it plans to invest $6 million to restore and protect the oceans from pollution, climate change, and other threats. This number ... -
Will it take market crash for Congress to raise debt limit?
WASHINGTON (AP) — There’s one way to force President Joe Biden and Congress to solve the looming crisis over the debt limit: a financial market crash. That’s a view held by several economists and a former White House official, mindful that Congress rarely acts unless an emergency forces lawmakers to. “For that drama not ending ...
