By Samuel Indyk and Tom Westbrook LONDON/SINGAPORE, March 23 (Reuters) – The dollar headed for its longest losing streak in 2.5 years on Thursday after the Federal Reserve appeared poised to call the hour for interest rate hikes. interest, while the Swiss franc rose slightly after the bank followed up with another rise. The Fed … Read more
The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, DC, U.S., Wednesday, July 28, 2021. Al-Draco | Bloomberg | Getty Images Ford Motor said Thursday that its electric vehicle business lost $2.1 billion last year on an operating basis, a loss that was more than offset by $10 billion … Read more
Dow Jones futures rose slightly early Thursday, while S&P 500 futures edged higher and Nasdaq futures jumped. The attempted stock market rally suffered a nasty downside reversal on Wednesday after the Fed meeting and comments from Treasury Secretary Janet Yellen. KB Home and Coinbase were the major overnight movers. X The Federal Reserve raised rates … Read more
Comment this story Comment The Securities and Exchange Commission said Wednesday it has accused a handful of celebrities — including internet provocateur-turned-professional boxer Jake Paul and actress Lindsay Lohan — of promoting cryptocurrencies without disclosing that they had been paid for it. Paul, Lohan, former teen idol Austin Mahone and rapper Soulja Boy (whose legal … Read more
LONDON (AP) — Something unexpected could force the Bank of England to approve an 11th consecutive interest rate hike on Thursday: a shortage of fresh vegetables. The rush for peppers, cucumbers and spinach last month helped push inflation up to 10.4% in February, surprising analysts who had expected prices to fall to single digits for … Read more
London (CNN) Credit Suisse’s last-minute bailout may have prevented the current banking crisis from blowing up, but it’s a raw deal for Switzerland. Fears that the fall of Credit Suisse could trigger a broader banking meltdown have left Swiss regulators with few good options. A rapprochement with its great rival, UBS (UBS)offered the best chance … Read more
US Federal Reserve Chairman Jerome Powell has admitted his regulator was caught off guard by the sudden collapse of Silicon Valley Bank, despite it being under their watch. At a press conference held just after the March 22 Federal Open Market Committee meeting, Powell said he immediately knew an internal investigation was needed when the … Read more
Comment this story Comment Tastee Diner in Silver Spring was exactly what it said on the sign. His food was not tasty. It was taste. It tasted like only restaurant food – an authentic, non-ironic restaurant – can. At Tastee Diner, no avocado has ever been mashed against a piece of thick multigrain toast, then … Read more
“AT1 instruments issued by Credit Suisse contractually provide that they will be fully written down in the event of a ‘viability event’, particularly if extraordinary government support is provided,” FINMA said in a statement on Thursday. “As Credit Suisse received extraordinary liquidity assistance loans secured by a Federal Default Guarantee on March 19, 2023, these … Read more
Regulators and officials across the European Union are worried about possible contagion to their banking sectors after the recent turmoil in the United States. However, they believe that the United States should learn from some of the regulatory work put in place in the euro zone. Basel III is a set of reforms that strengthens … Read more
