China’s imports are declining alongside domestic demand and a poor economy, which has dragged. Auto sales in China have started a price war but several Chinese state media outlets have recently continued to claimed that China will bring development opportunities to the entire world. On March 9, Chinese state media cited Eduardo Regalado, a China…
Demand Plunges in China, Contradicting CCP’s Official Narrative About Economy
March 16, 2023
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Asia & PacificBusiness & MarketsChinaChina Business & EconomyChina economic downturnchina imports plungeeconomyMarketsWorld
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Euro, Swiss Franc Recover a Touch as Market Mood Improves, Traders Await ECB Meet
SINGAPORE/LONDON—The euro and Swiss franc regained some lost ground on Thursday, as markets reacted positively to the Swiss central bank’s support for Credit Suisse, ahead of a difficult meeting for ECB rate setters. The euro was up 0.4 percent at $1.06225 having lost 1.4 percent a day earlier, its biggest percentage fall in six months,…
Oil Regains Some Ground After Credit Suisse Handed a Lifeline
Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But, battered by fears of growing stress on banks worldwide, market sentiment remained fragile with both benchmarks giving up some early Thursday gains…
ECB Rate Hike Expected After Switzerland Backs Credit Suisse
March 16, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—European markets rebounded on Thursday, as a 50 billion Swiss franc ($53.94 billion) lifeline for beleaguered lender Credit Suisse teed traders up for an European Central Bank interest rate decision later. Credit Suisse’s shares leapt more than 20 percent and the main European indexes and Swiss franc all rose around 1 percent in early trading,…
T-Mobile Acquiring Ryan Reynolds’s Mint Mobile in $1.35 Billion Deal
March 16, 2023
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Business & MarketsCompanieseconomyEntertainmentEntertainment NewsInvestmentMarketsMint MobileRyan Reynoldst-mobileUSUS News
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Telecom giant T-Mobile is set to buy Ka’ena Corporation, the owner of budget prepaid wireless provider Mint Mobile, in which actor Ryan Reynolds currently holds a minority ownership stake. The mobile giant announced in a March 15 statement that it had entered into a definitive agreement to acquire Ka’ena Corp. and its subsidiaries and brands including Mint Mobile, for up to $1.35…
Credit Suisse Borrows $53 Billion From Swiss Central Bank After Shares Pummelled
Credit Suisse has taken Switzerland’s central bank up on its offer to borrow up to 50 billion Swiss Francs ($53.7 billion) after the Swiss National Bank (SNB) vowed to grant it a liquidity lifeline “if necessary.” In a statement, Credit Suisse said it was taking “decisive action to pre-emptively strengthen liquidity” after shares of the Swiss lender plunged by…
FDIC Returned $40 Billion in US Treasury Funds, Reversing Withdrawal After SVB Takeover
WASHINGTON—The Federal Deposit Insurance Corp. (FDIC) deposited $40 billion back into the U.S. Treasury General Account on Tuesday, reversing a $40 billion withdrawal on Friday as the regulator took control of the failed Silicon Valley Bank, Treasury financial data released on Wednesday showed. A Treasury spokesperson referred questions about the fund transfers to the FDIC,…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 15)
March 15, 2023
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Benchmark U.S. crude oil for April delivery fell $3.72 to $67.61 a barrel Wednesday. Brent crude for May delivery fell $3.76 to $73.69 a barrel. Wholesale gasoline for April delivery fell 11 cents to $2.44 a gallon. April heating oil fell 11 cents to $2.60 a gallon. April natural gas fell 13 cents to $2.44…
Did the Government Bail Out Silicon Valley Bank?
March 15, 2023
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bailoutBusiness & MarketseconomyEpochTVInvestmentMarketsNTD BusinessSilicon Valley BankSVB CollapseUSVideo
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In the fallout of Silicon Valley Bank’s collapse, debate surrounds whether the government is bailing out the bank. Lance Roberts, chief investment strategist at RIA advisors, argues that ultimately, all the money used to support or to guarantee depositors or to support banks will come from taxpayers. He also says that we should let the…
Wall Street Falls on New Bank Fears, Bond Yields Plunge
NEW YORK—Markets shuddered Wednesday on worries about a spreading banking crisis and how badly it will hit the economy, and stocks and bond yields fell on both sides of the Atlantic. The S&P 500 sank as much as 2.1 percent before ending the day with a loss of 0.7 percent, while markets in Europe fell…
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