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U.S. mid-tier lenders shares rise in Frankfurt after SVB deal
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UK’s competition watchdog to examine EDF buying GE’s nuclear turbine unit
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In inflation-hit Germany, massive strike over pay to cripple transport
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Marketmind: Banks are leaking money
Oil markets steady as investors weigh banking crisis, Russia
Date: March 27, 2023
By Mohi Narayan and Florence Tan (Reuters) -Oil prices stabilised in Asian trade on Monday as investors sought cues from broader financial markets, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. Brent crude futures held unchanged at $74.99 a barrel at 0357 GMT after hitting a session...
How the 2023 banking crisis unfolded
Date: March 24, 2023
(Reuters) – Global banks are staring at the biggest crisis since 2008 after two U.S. lenders collapsed, Switzerland’s Credit Suisse sought a government lifeline and America’s top banks agreed to offer a $30 billion rescue deal – all in the space of 10 days. The turmoil has ratcheted up fears of a contagion and prompted...
Dollar outshines euro, sterling amid European bank jitters
Date: March 24, 2023
By Hannah Lang WASHINGTON (Reuters) – The euro and sterling fell sharply against a strengthening dollar on Friday amid lingering nervousness over banks. Banking stocks plunged in Europe with heavyweights Deutsche Bank and UBS Group pummelled by worries that the worst problems to hit the sector since the 2008 financial crisis have not yet been...
Amazon, other retailers revamp ‘free’ shipping as costs soar
Date: March 24, 2023
By Lisa Baertlein LOS ANGELES (Reuters) – There is no such thing as free shipping. Even so, Amazon.com Inc and other online retailers who use so-called free delivery to cultivate customer loyalty are scrambling to keep it from draining profits as costs climb and e-commerce contracts. They are adding fees for faster service, raising minimum...
S&P Global fined 1.1 million euros for premature credit rating publications
Date: March 24, 2023
By Marc Jones LONDON (Reuters) -The European Union’s securities watchdog has fined S&P Global Ratings 1.1 million euros ($1.19 million) for publishing a number of credit scores before the relevant securities had been issued. The European Securities and Markets Authority (ESMA) also issued a public notice for breaches of credit rating agencies regulations. “Publishing a...
UK’s J D Wetherspoon returns to profit as supply issues ease
Date: March 24, 2023
(Reuters) -British pub group J D Wetherspoon Plc on Friday posted a return to half-year profit and said sales in recent weeks have topped pre-pandemic levels. “Supply or delivery issues have largely disappeared, for now, and were probably a phenomenon of the stresses induced by the worldwide reopening after the pandemic,” Chairman Tim Martin said...