Wall Street equities gained and U.S. Treasury yields rose on Monday as investor concerns about the financial system were calmed after First Citizens BancShares said it would take on the deposits and loans of failed Silicon Valley Bank. The deal offered a respite after weeks of turmoil prompted by the collapse of tech-focused Silicon Valley […]
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The sale of failed Silicon Valley Bank (SVB) to a regional U.S. peer helped stabilise shares in European lenders on Monday, after the sector was hammered last week by worries about systemic bank stress and a looming credit crunch. The sudden collapse of tech-focused SVB earlier this month triggered the worst banking shock since the […]
Robinhood Inc made an exception to its short position ban for clients who had winning ‘puts’ against failed lender Signature Bank, the Financial Times reported on Thursday. Put options are contracts that give a buyer the right, but no obligation, to sell shares in future. Shares of New York-based Signature have shed nearly 37% in […]
A look at the day ahead in U.S. and global markets from Mike Dolan The final week of a turbulent month and volatile quarter for world markets has kicked off with relative stability in the battered banking sector at the heart of the latest upheaval. Two developments on the U.S. side of the banking disturbance […]
A buyer for Silicon Valley Bank’s deposits and loans helped shares in European lenders mount a partial recovery on Monday, after the sector was hammered last week by worries of systemic bank stress and a credit crunch. There are also hopes for extra support for bank funding, after Bloomberg News reported U.S. authorities were in […]
First Republic Bank became the epicenter of the U.S. regional banking crisis after the wealthy clients it courted to fuel its breakneck growth started withdrawing deposits and left the bank reeling. Wall Street’s top banks, led by JPMorgan Chase & Co, have been trying for more than a week to raise capital for San Francisco-based […]
First Citizens BancShares Inc said on Monday it will acquire the deposits and loans of failed Silicon Valley Bank, closing one chapter in the crisis of confidence that has ripped through global financial markets. The Federal Deposit Insurance Corporation (FDIC), which took control of SVB earlier this month, said in a separate statement it has […]
Saudi Aramco signed an agreement with Chinese partners on Sunday for an oil refinery and petrochemical project in northeast China that is expected to start in 2026 to meet the country’s growing demand for fuel and chemicals. The project in Liaoning province’s city of Panjin will be Aramco’s second major refining-petrochemical investment in China and […]
Oil prices stabilised in Asian trade on Monday as investors sought cues from broader financial markets, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. Brent crude futures held unchanged at $74.99 a barrel at 0357 GMT after hitting a session high of $75.64. U.S. West Texas Intermediate […]
European banking stocks fell sharply on Friday, with Deutsche Bank and UBS knocked by worries that actions by regulators and central banks have not yet contained the worst problems to face the sector since the 2008 global financial crisis. Financial market stress indicators were also again flashing warning signs more widely, with the euro falling […]