Silicon Valley Bank is Largest Failure Since 2008 Crisis, Billions Stranded
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did...
OIL PRICES RISE TO NEAR $90 AS OPEC CUT LOOMS
Oil Prices Rose Further On Tuesday As Markets Positioned For The Biggest Supply Cut By OPEC Since The 2020 COVID Crisis, With Weakness In The Dollar Also Helping.
London-traded Brent oil futures, the global benchmark, rose 0.6% to $89.28 a barrel, while West Texas Intermediate...
Asian Stocks Dip As Markets Weigh Fed Fears, China Stimulus Hopes
Most Asian stocks retreated on Thursday amid continued concerns over rising interest rates and slowing global economic growth, although optimism over more Chinese stimulus measures helped limit some losses. Chinese losses limited as state banks cut deposit rates China’s Shanghai Shenzhen CSI 300 and...
Financial Turbulence Widens Door to Private Equity in Fast-Growing Aerospace Sector
Financial sector headwinds are creating fresh openings for private equity investments in aerospace, as suppliers' need for capital to meet soaring demand for planes and parts risks further turbulence, executives said. Demand from aircraft manufacturing giants has soared on the back of surging global...
Oil on Edge as Markets weigh Poland Strike, Sluggish Demand
Oil prices fell slightly on Wednesday as investors awaited more clarity on a potential Russian missile strike against Poland, while mixed U.S. inventory data and concerns over slowing Chinese demand also brewed more uncertainty in the market Crude markets were focused squarely on the...
European Stocks Higher; Lufthansa Soars After Returning To Profit
European stock markets traded higher Friday, boosted by positive sentiment overseas ahead of the release of the final reading of Eurozone services activity data. At 03:50 ET (08:50 GMT), the DAX index in Germany traded 0.9% higher, the CAC 40 in France climbed 0.6%...
Credit Suisse Lifeline, First Republic Rescue: What You Need To Know
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...
Home Depot Shares Slide On Weak Sales, Annual Profit Forecast
Home Depot Inc (NYSE:HD) forecast annual profit below Wall Street expectations on Tuesday, hurt by higher supply chain costs amid weakening demand for home improvement products due to inflation. The No. 1 U.S. home improvement chain also missed fourth-quarter comparable sales estimates, sending its...
Exclusive-Intel Weighs Boost To Investment In Vietnam Chip Packaging Plant -Sources
Intel Corp is considering a significant increase in its existing $1.5-billion investment in Vietnam to expand its chip testing and packaging plant in the Southeast Asian nation, two sources familiar with the matter told Reuters. The possible move, which one source said could be...
South Korea Asks US to Review China Rule For Chip Subsidies
South Korea has asked Washington to review its criteria for new semiconductor subsidies, concerned over the impact of rules to limit chip investment in countries such as China, a U.S. public filing showed. In March, the U.S. commerce department proposed rules to prevent China...