The Reserve Bank of Australia (RBA) has assured the public that Australian banks are in a solid position despite the high-profile collapses of several global banking organisations lately. Addressing representatives of financial institutions across Australia during a debt capital market summit in Sydney, RBA assistant governor Christopher Kent said that while Australian financial markets still…
‘Australia’s Banks Are Unquestionably Strong’: RBA Assures Australians After US Banking Crisis
March 20, 2023
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LIVE 6 PM ET: NTD Evening News (March 20): Surprise Witness Testifies in Trump Case; China’s Xi Stresses Close Ties With ‘Dear Friend’ Putin
March 20, 2023
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Attorney Robert Costello gave unexpected testimony on Mar. 20 in the New York hush money investigation of former President Donald Trump. Costello is a former legal adviser to Michael Cohen, Trump’s former lawyer. His testimony before a Manhattan grand jury is expected to discredit testimony given by Cohen. This comes after Trump stated on social…
NTD Evening News (March 20): Surprise Witness Testifies in Trump Case; China’s Xi Stresses Close Ties With ‘Dear Friend’ Putin
March 20, 2023
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Attorney Robert Costello gave unexpected testimony on March 20 in the New York hush money investigation of former President Donald Trump. Costello is a former legal adviser to Michael Cohen, Trump’s former lawyer. His testimony before a Manhattan grand jury is expected to discredit testimony given by Cohen. This comes after Trump stated on social…
The Fed Is Running Two Policies at Once
March 20, 2023
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Commentary Last week was a grim reminder that the economic chaos of the lockdown period is far from over. Markets discovered that several major banks, which hardly anyone truly suspected were in trouble, faced closure and quick rescue for fear of contagion. The trouble was the same in each case: too many assets held in…
Elon Musk Shocked by $100 Billion Liquidity Support for Credit Suisse Rescue Deal
Twitter CEO Elon Musk has expressed his shock that investment banking company UBS would get a $100 billion emergency credit line as part of a $2 billion deal to buy rival Credit Suisse. Taking to Twitter, Musk responded to a tweet linking to an article reporting on the deal between the two financial institutions which…
Credit Suisse Shares Crash to Record Low After Emergency Takeover
March 20, 2023
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Credit Suisse shares dove 63 percent in early trading Monday to a new low after it was announced that UBS would buy the troubled bank in a multi-billion-dollar deal backstopped by a Swiss central bank $100 billion emergency credit line. Shares of Credit Suisse clawed back some of the initial losses Monday morning and at…
UK Financial System ‘Safe and Sound,’ Central Bank Says After Credit Suisse Deal
March 20, 2023
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Britain’s central bank has said the UK financial system remains “safe and sound” as it seeks to calm fears after the Swiss government mediated the merger between the country’s two largest banks to save Credit Suisse from collapse. Swiss investment banking company UBS announced on Sunday evening it will purchase its rival Credit Suisse in…
The Swiss Banking Sector: More Holes than Swiss Cheese
March 20, 2023
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Commentary When someone says Switzerland, you might think of clocks and banks. All because of the country’s reputation for producing a high-quality products in all these areas of endeavour. Well, it’s time to think again as the clock is ticking, if not tocked, on Switzerland’s banking sector. Credit Suisse, which had an enviable reputation as…
Swiss Government: UBS to Take Over Credit Suisse for More Than $3 Billion
Investment banking company UBS has agreed to purchase its rival Credit Suisse in a deal worth more than $3 billion after the Swiss government mediated the merger between the country’s two largest banks to avoid chaos in the financial markets before March 20. The announcement came after government officials had been scrambling for several days…
Swiss Government: UBS to Take Over Credit Suisse
Investment banking company UBS has agreed to purchase Credit Suisse after the Swiss government mediated the merger between the country’s two largest banks to avoid chaos in the financial markets before Monday. The announcement came after government officials had been scrambling for several days to figure out how to save the troubled lender Credit Suisse….
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