Tencent returns to growth as China emerges from Covid lockdowns
Chinese language tech group Tencent reversed two successive quarters of income declines and stated it was “properly positioned” to profit from the ending of the nation’s zero-Covid coverage. The tech group posted quarterly income of Rmb145bn ($21bn) within the three…
SVB Financial clashes with FDIC over fate of $2bn in bankruptcy hearing
Legal professionals for the a part of Silicon Valley Financial institution that has been put out of business safety accused US financial institution regulators of getting “drained” roughly $2bn of money from the establishment, setting the stage for a battle…
First Republic shares rebound as Yellen signals backing for smaller lenders
First Republic Financial institution shares rebounded on Tuesday after US Treasury secretary Janet Yellen signalled {that a} authorities backstop for smaller banks was on the prepared if required. The San Francisco-based lender’s shares surged 55 per cent on Tuesday morning,…
European and Asian equities push higher after Credit Suisse takeover
European and Asian equities pushed larger on Tuesday morning as traders assessed the danger of contagion within the monetary system after the takeover of Swiss financial institution Credit score Suisse by rival UBS. The Euro Stoxx Banks index rose 2.9…
Wall Street CEOs try to come up with new plan for First Republic
Wall Avenue financial institution chief executives try to give you a brand new plan for First Republic after a $30bn lifeline didn’t arrest a pointy sell-off within the lender’s shares. The executives will focus on if something extra may be…
EU agrees to supply Ukraine with 1mn artillery rounds within a year
EU international and defence ministers have agreed to produce 1mn rounds of ammunition to Ukraine inside a 12 months, shopping for new shells solely from European arms producers at the same time as they face bottlenecks in ramping up their…
Asian bank debt and shares fall after $17bn Credit Suisse bond writedown
Asian financial institution debt and shares fell on Monday after the wipeout of $17bn of Credit score Suisse bonds in a takeover by UBS, sparking concern about comparable debt and heralding additional turmoil in European markets. HSBC shares dropped 7.1…
Central banks announce dollar liquidity measures to ease banking crisis
The Federal Reserve and 5 different main central banks have taken contemporary measures to enhance international entry to greenback liquidity as monetary markets reel from the turmoil hitting the banking sector. In a joint assertion on Sunday, the central banks…
Global banking is now inside Schrödinger’s box
The author is an FT contributing editor The well-known quantum mechanics thought experiment posits that if a cat is sealed in a field with a lethal substance, you’ll be able to’t know whether or not it’s nonetheless alive till you…
Start-ups learn the hard way how to manage cash after SVB’s collapse
Every week after Silicon Valley Financial institution collapsed, a bunch of enterprise capital companies wrote to the shell-shocked start-ups that they had put their cash into. It was time, they stated, to speak in regards to the “admittedly not so…