Tag: Markets

Credit Suisse Lost $68 Billion in Assets Last Quarter, Outflows Continue

April 24, 2023
Business & MarketsCompaniesCredit SuisseeconomyEuropeMarketsoutflowsresultsstocksWorld
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ZURICH—Credit Suisse said on Monday that 61 billion Swiss francs ($68 billion) in assets left the bank in the first quarter and that outflows were continuing, underscoring the challenge faced by UBS Group in rescuing its rival. Customer deposits declined by 67 billion francs in the quarter and the bank noted many matured time deposits…

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Dollar Gains, on Track for 2nd Straight Monthly Loss

April 24, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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SINGAPORE—The dollar began the last trading week of the month on a firmer footing, with traders awaiting a slew of central bank policy meetings that could signal how soon the steep increases in interest rates globally might come to an end. U.S. Federal Reserve policymakers are widely expected to raise rates by another 25 basis…

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Oil Prices Steady on Uncertain Global Outlook and Supply Concerns

April 24, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Monday as concern over rising interest rates, the global economy and the outlook for fuel demand were balanced by the prospect of tightening supplies. Brent crude slipped 22 cents, or 0.3 percent, to $81.44 a barrel by 0905 GMT. U.S. West Texas Intermediate crude was down 10 cents, or 0.1…

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Stock Markets Today: Global Stocks Lower Ahead of US Data

April 24, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BEIJING—Global stocks and Wall Street futures declined Monday ahead of a U.S. economic update that is expected to show growth slowing. London and Frankfurt opened lower. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices fell. Wall Street’s benchmark S&P 500 index gained 0.1 percent on Friday but ended with a small loss for…

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Fed Asks Americans for Feedback on a Central Bank Digital Currency—Here Are Some Responses

April 23, 2023
Business & MarketsCentral Bank Digital Currency (CBDC)economic policieseconomyFederal Reserve (Fed)MarketsPolicies & ImpactsUS
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Americans are worried that a U.S. Central Bank Digital Currency (CBDC) could end up compromising essential freedoms, further centralizing monetary policy, and making the country’s currency vulnerable to hacking, according to a recently published Fed survey. In January last year, the Fed published a white paper on what a CBDC could look like. It asked…

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Tesla Wins Bellwether Trial Over Autopilot Car Crash

April 22, 2023
autopilotBusiness & MarketsCaliforniaCompaniesMarketsRegional & State NewsSouthern CaliforniaState NewsstocksteslatrialUSUS News
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LOS ANGELES—A California state court jury on Friday handed Tesla Inc. a sweeping win, finding the electric vehicle maker’s Autopilot feature did not fail in what appeared to be the first trial related to a crash involving the partially automated driving software. Tesla has been testing and rolling out its Autopilot and more advanced “Full…

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Stock Market Today: Stocks Close Quiet Week With Small Gains

April 21, 2023
Business & MarketsMarketsstocksWall Street
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Stocks capped a listless day of trading Friday with slight gains for the major stock indexes, closing out a quiet week on Wall Street highlighted by a batch of mostly mixed corporate earnings reports. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all gained 0.1 percent after drifting between small gains and losses…

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Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 21)

April 21, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for June delivery rose 50 cents to $77.87 a barrel Friday. Brent crude for June delivery rose 56 cents to $81.66 a barrel. Wholesale gasoline for May delivery rose 1 cent $2.60 a gallon. May heating oil was unchanged at $2.49 a gallon. May natural gas fell 2 cents to $2.23…

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US Firms Positioned to Withstand Tougher Lending Conditions, Says Goldman Sachs

April 21, 2023
bank crisisBusiness & MarketsCompanieseconomic policieseconomyGoldman SachsinflationInvestmentlending sectorMarketsstocksUS
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Goldman Sachs Group still believes that American companies are positioned to withstand tougher lending conditions caused by the latest bank crisis. The investment bank said that U.S.-based firms are less reliant on banks for capital, compared with their peers overseas, reported Bloomberg. A tightening of loan conditions could have a smaller impact for the banking…

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What If the Dollar Falls?

April 21, 2023
Business & MarketsDollareconomyMarketsreserve currencyUSUS News
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Commentary During the past few weeks, major countries have been moving away from the U.S. dollar, raising doubts about the dollar’s long dominant role in the world. Eight weeks ago, it was just pariah nations like Iran or Russia trying to de-dollarize. Now it’s Brazil, France, even Saudi Arabia—the lynchpin of the decades-long “petrodollar” arrangement….

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