Small banks, in particular, are losing deposits to money-market funds at an alarming pace. The month of March 2023 witnessed the fastest withdrawal of funds from commercial banks in U.S. history. According to data released by the Federal Reserve, a staggering $360 billion was withdrawn from banks across the country in the last month alone. To…
Swiss Prosecutors Probe Credit Suisse Ahead of UBS Takeover
April 3, 2023
admin
Business & MarketsCompaniesCredit Suisseeconomic policieseconomyEuropeMarketsprobeSwitzerlandUBSWorld
0 Comment
GENEVA—The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS. Switzerland’s government and financial regulators helped engineer the hastily arranged, $3.25 billion agreement that was aimed in part to help calm worries about the global financial system…
Tesla Recalls Its Electric Semi Trucks Over Parking Brake Issue
Tesla has issued a voluntary recall for its Class 8 all-electric semi trucks, according to a notice by the National Highway Traffic Safety Administration (NHTSA) posted on March 24. The recall is due to faulty parking brake valve modules manufactured by one of the electric vehicle maker’s suppliers. The 35 semi trucks potentially affected by…
Wall Street Opens Lower as Oil Output Cut Reignites Inflation Worries
Wall Street’s main indexes opened lower on Monday after a surge in oil prices brought back inflation worries, bolstering bets that the U.S. Federal Reserve will deliver another interest rate hike at its next meeting. The Dow Jones Industrial Average fell 28.37 points, or 0.09 percent, at the open to 33,245.78. The S&P 500 opened…
America’s Biggest Banks Experience Massive Withdrawals
America’s 25 biggest banks saw a huge $90 billion outflow of deposits last week, a sharp reversal from the prior week where larger financial institutions absorbed some of the deposits being withdrawn at a record pace from smaller banks in the wake of the Silicon Valley Bank (SVB) collapse. Between the collapse of SVB over…
America’s Biggest Banks Experience Massive Deposit Withdrawals
America’s 25 biggest banks saw a huge $90 billion outflow of deposits last week, a sharp reversal from the prior week where larger financial institutions absorbed some of the deposits being withdrawn at a record pace from smaller banks in the wake of the Silicon Valley Bank (SVB) collapse. Between the collapse of SVB over…
America’s Biggest Banks See Surge in Deposit Withdrawals
America’s 25 biggest banks saw a huge $90 billion outflow of deposits last week, a sharp reversal from the prior week where larger financial institutions absorbed some of the deposits being withdrawn at a record pace from smaller banks in the wake of the Silicon Valley Bank (SVB) collapse. Between the collapse of SVB over…
Oil Prices Surge, Fed Rate Path in Question Again
April 3, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
SYDNEY/LONDON—Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets and boosted the dollar due to reinvigorated fears about the stickiness of global inflation. Brent oil futures looked set for its biggest daily percentage gain in around a…
US Court Sanctions Google for Deleting Evidence in Antitrust Cases
Alphabet Inc.’s Google LLC intentionally destroyed employee “chat” evidence in antitrust litigation in California and must pay sanctions and face a possible penalty at trial, a U.S. judge ruled. U.S. District Judge James Donato in San Francisco said in his order on Tuesday that Google “fell strikingly short” in its duties to preserve records. The…
UK to Examine Broadcom’s $61 Billion VMware Deal in Depth
Britain said it would investigate Broadcom’s acquisition of VMware in depth after the U.S. chipmaker offered no immediate undertakings in response to its concerns about the impact of the $61 billion deal on the server market. Britain’s Competition and Markets Authority said earlier this month that Broadcom’s acquisition of the cloud computing and virtualization company…
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta