Credit Suisse headed into a make-or-break weekend after some rivals grew cautious in their dealings with the struggling Swiss lender, and its regulators urged it to merge with UBS AG. At least four major banks, including Societe Generale (OTC:SCGLY) and Deutsche Bank (ETR:DBKGn), are restricting new trades involving Credit Suisse or its securities, five sources […]
The U.S. dollar slipped lower in early European trade Friday and riskier currencies rallied on easing concerns about a global banking crisis. At 04:25 ET (08:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower at 103.715. The foreign exchange market has seen a relief rally […]
Oil prices crept higher on Friday on the prospect of supportive measures by the OPEC+, although fears of an economic slowdown stemming from a banking crisis kept gains limited and put prices on course for their worst week this year. Media reports said that Saudi Arabian and Russian ministers met this week to discuss potential […]
Asian stock markets rose on Friday, recovering from a series of sharp losses this week as government and institutional support to stem a potential banking crisis helped improve sentiment, while traders also priced in a less hawkish Federal Reserve. Chinese bourses were the best performers for the day, with the Shanghai Shenzhen CSI 300 and […]
Zara-owner Inditex (BME:ITX) posted a 29% jump in annual profit despite a slowdown in top-line returns in the final quarter, thanks to “historic” growth in sales both in its physical stores and online. The Spanish fast fashion retailer, now helmed by chair Marta Ortega, daughter of business magnate Amancio Ortega, said its collections throughout the […]
European Central Bank policymakers are still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters. Investors had begun to doubt the ECB’s commitment to another big rate hike this week after the collapse of Silicon […]
Most Asian stock markets rose on Wednesday, helped by a recovery in bank shares amid easing fears over a potential crisis in the U.S., while growing bets that the Federal Reserve will adopt a less hawkish stance also aided sentiment. Regional markets took positive cues from an overnight recovery on Wall Street, after consumer inflation […]
Volkswagen (ETR:VOWG_p) plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to fall from 2025. As it works toward a target of 50% electric vehicle (EV) sales globally by 2030, over two-thirds […]
Asia’s share markets slid on Tuesday, with financial stocks in Tokyo leading losses as fear of a U.S. banking crisis had investors fleeing the sector and slashing the interest rate outlook even ahead of U.S. inflation data due later in the day. Japan’s Nikkei dropped 2%. The Tokyo Stock Exchange banks index fell more than […]
Most Asian currencies rose on Monday, while the dollar tumbled to near three-week lows as a potential banking crisis in the U.S. saw markets drastically alter their expectations for more interest rate hikes by the Federal Reserve this year. Most regional currencies also sharply reversed losses from last week, with China’s yuan up 0.3% as […]