Your browser does not support playing this file but you can still download the MP3 file to play locally. After the collapse of Silicon Valley Bank, markets were anxious, and the prestigious, yet scandal-ridden Credit Suisse looked as if it could be next to fall. But over the span of a single weekend, the Swiss
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Some banks will struggle to issue a form of risky bonds used to bolster their capital and others will pay a much higher price for them after similar debt held by Credit Suisse was wiped out in its forced sale, investors have warned. Swiss regulators’ decision to write down $17bn worth of Credit Suisse’s additional
Switzerland’s private banks are seeking to poach key staff and clients from Credit Suisse as steep job and bonus cuts force bankers into the market following the takeover by UBS. Julius Baer, Pictet, Lombard Odier, EFG and LGT are among Swiss wealth managers sounding out disgruntled Credit Suisse bankers, people familiar with ongoing conversations have
Binance CEO Changpeng Zhao (CZ) has addressed the allegations against him by the U.S. Commodity Futures Trading Commission (CFTC). “We do not agree with the characterization of many of the issues alleged in the complaint,” the executive stressed. CZ Responds to CFTC’s Allegations The CEO of cryptocurrency exchange Binance, Changpeng Zhao (CZ), published a blog
The strategy doesn’t sound a subtle one: pay up or blackout. This winter, as hundreds of thousands of UK households were reading by torchlight to reduce electricity demand at peak times, some traders are alleged to have taken a somewhat less collaborative approach to the energy crisis. Both the government and the opposition have called
Mike Pence must testify to a grand jury about conversations he had with Donald Trump relating to the former president’s attempt to overturn the results of the 2020 presidential election, according to a person familiar with the matter. Judge James Boasberg in the US District Court for the District of Columbia ruled that Pence, Trump’s
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says the current banking crisis has pushed the U.S. economy closer to a recession. “We have fundamental issues, regulatory issues facing our banking system,” the Fed official stressed. Neel Kashkari on U.S. Economy, Banking Crisis, Recession Federal Reserve Bank of Minneapolis President Neel Kashkari
Ethereum validators will soon be able to withdraw their Ether (ETH) from the Beacon Chain, with the Shapella hard fork set to be activated on the Ethereum mainnet on April 12. Shapella will take effect at epoch 194,048, which is scheduled for 10:27 pm UTC on April 12, Ethereum core developers confirmed. The withdrawals will
Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic
According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after laying the groundwork by labeling lawful businesses as “reputationally risky,” federal bank regulators, with
Italy’s rightwing government has approved a draft law that would ban domestic production of lab-grown meat as it seeks to protect the country’s traditional culinary heritage and powerful agribusiness interests. The draft law, which must still be approved by parliament before it can take effect, prohibits the cultivation of meat from cells in Italy, though
Jamie Dimon, the longtime chief executive of JPMorgan Chase, will be interviewed under oath over his bank’s decision to retain the late sex offender Jeffrey Epstein as a client, said people familiar with the matter. The sworn deposition, due to take place behind closed doors in May, is the latest development in two high-profile cases
The price of Bitcoin (BTC) fell 3.6% to $26,900 after Binance and CEO Changpeng “CZ” Zhao were sued by the United States Commodity Futures Trading Commission (CFTC) on March 27. To date, Binance has been investigated by the CFTC, the US Securities and Exchange Commission (SEC), the Internal Revenue Service and federal prosecutors. The Bitcoin
A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the
In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Micron Technology headquarters in Boise, Idaho, March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Check out the companies making headlines in midday trading Tuesday. PagSeguro — Shares popped 5.3% after Citi upgraded the Brazilian payment stock to buy from neutral. The firm called
The U.S. Supreme Court declined Puerto Rico Gov. Pedro Pierluisi’s petition for certiorari on an appeals court decision that supported the Puerto Rico Oversight Board’s ability to reject local laws based on their fiscal impact. At issue in the case were four laws the local government passed in 2019 and 2020, but the larger concern
Municipals were steady to firmer in spots Tuesday, while U.S. Treasuries were weaker and equities ended down. The two-year muni-UST ratio was at 59%, the three-year at 60%, the five-year at 61%, the 10-year at 64% and the 30-year at 89%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the two-year
Scotland’s finance secretary Kate Forbes is to leave the country’s devolved government after being offered a more junior role by incoming first minister Humza Yousaf. Yousaf narrowly defeated Forbes in a bitter Scottish National party leadership election that ended on Monday and her departure from the government risks deepening divisions exposed during the contest. The
On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international
Municipalities looking to tap into federal infrastructure funding need existing matching funds while also reckoning with the administration’s emphasis on equity, and this latter point emerged as a clear priority from the Department of Transportation officials during presentations at the National League of Cities’ Congressional City Conference Monday in Washington, D.C. “Something that’s near and
Tax-exempt advance refunding is back on the table, as a standalone bill titled the Investing in Our Communities Act has just been introduced in the House. The bill, introduced by Rep. David Kustoff, R-Tenn. and House Municipal Finance Caucus leader Dutch Ruppersberger, D-Md., would restore the provision eliminated in 2017 by President Trump’s Tax Cuts