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The Latest Breaking News on Financial Services

2 ETFs You'll Regret Not Adding to Your Portfolio in 2023

Heightened market volatilities on the backs of a robust job report, sticky inflation, and failures in the banking system could persist for quite a while. Against this backdrop, quality ETFs iShares Core S&P 500 ETF (IVV) and Vanguard Dividend Appreciation ETF (VIG) might be wise portfolio additions in 2023. Read…

StockNews.com

How banking turmoil is changing the economic outlook

A handful of large, troubled U.S. regional banks may well accomplish what the mighty Federal Reserve couldn't on its own.

Axios

Yellen seeks to reassure US legislators after bank collapse

Treasury chief tells lawmakers customers ‘can feel confident that their deposits will be there when they need them’.

Al Jazeera

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What happened to Credit Suisse and what’s at stake if it goes bust? REDIRECTED

The Asian and Australian stock markets fell following the panic

The Independent UK

The global banking system is on edge

So goes Silicon Valley, so goes the world.

Axios

Janet Yellen: US banking system is ‘sound’ despite two collapses in a week

Treasury secretary attempts to reassure nervous investors that emergency measure succeeded and bank deposits ‘will be there’

The Guardian - US

Credit Suisse bounces back but investors cautious

ZURICH: Credit Suisse rallied on the stock market Thursday after grabbing a $54 billion central bank lifeline in a bid to restore investor confidence but analysts remain wary about the major lender's future.

Bangkok Post

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Triodos Bank reports UK growth despite ‘challenging period’

The Bristol-headquartered financial institution, which specialises in support for sustainable businesses, saw an increase in British customers and profits

Birmingham Post

ECB raises eurozone interest rate despite banking sector fears

Concerns half-point could set off domino effect across financial industry knocked by Credit Suisse crisis

The Guardian - UK

Global banking concerns shift from US to Europe amid Credit Suisse bailout

Swiss bank Credit Suisse said it would borrow up to 50 billion francs from the Swiss central bank to shore up liquidity and boost investor confidence, as the collapse of two banks in the United States last week raises concerns about the health of global banks in the face of…

Radio France Internationale

European stocks rebound as Credit Suisse grabs lifeline

LONDON: European stock markets rebounded slightly on Thursday after troubled banking giant Credit Suisse secured a big financial lifeline and before a crucial interest-rate decision by the European Central Bank.

Bangkok Post

Janet Yellen says US banking system ‘remains sound’ and Americans should be ‘confident’

Treasury Secretary appears before the Senate Finance Committee a week after the second-largest bank collapse in the nation’s history

The Independent UK

Credit Suisse shares soar after the bank secures a $54 billion lifeline

Shares of the Swiss banking giant rallied significantly Thursday after Switzerland's central bank agreed to lend it $54 billion.

WEKU

Shares rally after huge bank bailout of Credit Suisse

Experts warn the next day is critical for the banking crisis

Evening Standard

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The Independent UK

Yellen to tell Congress US banking system 'remains sound'

Treasury Secretary Janet Yellen says the U.S. banking system remains sound

The Guardian - UK

ECB faces dilemma over interest rate rise amid Credit Suisse crisis

European Central Bank could opt for a smaller increase as concerns spread over health of banking system

The Independent UK

Bank turmoil casts shadow over Europe interest rate decision

Concerns about the world's banks are casting a shadow over the European Central Bank's meeting

The Guardian - US

US banks are sacrificing poor communities to the climate crisis

It took decades to force banks to abandon racist redlining. We don’t have decades to avert catastrophic climate crisis

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Bangkok Post

SET chief allays fear about Credit Suisse

The president of the Stock Exchange of Thailand (SET) has rushed to calm investors’ concerns regarding the troubles of Credit Suisse and global anxiety about banks in general.

Bangkok Post

Thai banks see little impact from global rout

Local banks foresee only a small impact from the troubles facing Credit Suisse and some banks in the United States due to their low external exposures and strong capital positions, according to the Thai Bankers’ Association.

The Guardian - UK

ECB’s Lagarde insists banks much stronger than in 2008 after raising interest rates despite Credit Suisse turmoil – as it happened

ECB presses on with 0.5 point increase in eurozone interest rates, and says it stands ready to respond to market turmoil

The Guardian - AU

‘The first Twitter-fuelled bank run’: how social media compounded SVB’s collapse

The speed at which Silicon Valley Bank collapsed has left experts questioning whether social media has opened up entirely new risks in the world of finance

Asharq Al-Awsat

Credit Suisse Says It Will Borrow Up to $53.7 bn from Central Bank

Credit Suisse announced Thursday that it would borrow almost $54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices. The disclosure came just hours after the Swiss National Bank said capital and liquidity levels at the lender were adequate for a "systemically…

The Independent UK

AP News Digest 3:30 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

Businessweek

Arrogance, Incompetence or Both: What SVB’s Failure Really Means

The implosion of Silicon Valley’s favorite bank, which became increasingly dependent on venture capital and private equity, was rooted in hubris as much as its balance sheet.

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