U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank's staff no longer forecasts a U.S. recession for 2023.
Banking Sector
It’s been tagged as the biggest deal banking in the world since the dark days of 2008. The UBS takeover of Credit Suisse. But the imminent collapse of Credit Suisse which preceded it also tarnished the reputation of Switzerland’s banking credibility. The deal creates a wealth management group with a $1.6 trillion balance sheet, effectively […]
Prominent big banks at the Money 20/20 fintech conference in Amsterdam are carefully exploring the potential of generative artificial intelligence (AI) technology. Despite recognizing its transformative power, these financial institutions, including the Netherlands’ ABN Amro, exercise caution due to the inherent risks involved. Executives and industry experts gathered in Amsterdam’s conference center to discuss the […]
This article provides insights on the recently announced grey-listing of a country already beset by banking issues, and the expected backlash of social and economic uncertainty.
Will First Republic Bank Collapse be a catalyst for a new digital banking system? Will it be linked to the rise of CBDC and cryptocurrencies.
Asian stocks struggled on Thursday, dragged down by tech and property selling in Hong Kong, while the dollar was under pressure as softening U.S. inflation seemed to suggest the Federal Reserve’s rate hike cycle was nearing its end. Early in the Asia day the euro hit a 2-1/2 month top at $1.10. Investors are positive […]
Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion) in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, cannot be overturned. Although parliament’s upper house earlier on Wednesday retrospectively approved the measures, the lower house rejected them for the […]
The Federal Deposit Insurance Corp is expected to propose next month how to make the U.S. banking sector pay for an estimated $23 billion hole in its insurance fund by the collapse of Silicon Valley Bank and Signature Bank in March. The agency has broad authority in setting the terms of what is known as […]
Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last up 1.96% at $30,233. It has […]
Ukrainian hackers claim to have broken into the emails of a senior Russian military spy wanted by the Federal Bureau of Investigation for hacking the Hillary Clinton campaign and other senior U.S. Democrats ahead of Donald Trump’s election to the presidency in 2016. In a message posted to Telegram on Monday, a group calling itself […]