China’s aluminium imports from Russia more than tripled in the first two months of this year, according to customs data released on Monday. The figures show a 266.2% surge in imports from Russia, as Chinese buyers turn to the country to meet their rising demand for the metal, and Western.
UBS Group AG’s acquisition of Credit Suisse Group AG in a state-backed rescue package worth $3.23 billion has been making headlines in the financial world. The deal was orchestrated by Swiss regulators on Sunday to stabilize Credit Suisse and restore confidence in the Swiss banking system. However, the acquisition has.
Berkshire Hathaway, the conglomerate led by Warren Buffett, has urged its shareholders to reject proposals that would require the company to disclose more information about its climate change and diversity efforts, as well as avoid discussing social and political issues. Additionally, a shareholder proposal that would see Buffett relinquish his.
Bed Bath & Beyond, the struggling US retailer, announced on Friday that it would be seeking shareholder approval for a reverse stock split, leading to a 13% drop in its shares during extended trading. The company is planning to hold a special meeting on March 27 to decide on the.
Wall Street closed on Friday with all three major indexes in the red, concluding a turbulent week dominated by fears of a banking crisis and looming recession. The S&P 500’s financial sector was hit the hardest, as investors grew increasingly concerned over a potential credit crunch and the possibility of.
Moody’s, a global ratings agency, has downgraded the credit of First Republic Bank due to the deterioration of its financial profile and challenges faced by the lender amid deposit outflows. The bank’s long-term issuer rating and local currency subordinate ratings were lowered to B2 from Baa1, and its long-term local.
PhonePe, India’s most valuable payments firm, announced on Friday that it has raised $200 million from majority backer Walmart at a pre-money valuation of $12 billion. This investment is part of PhonePe’s ongoing fundraise of up to $1 billion. In the past two months, the company has raised $350 million.
China’s central bank, the People’s Bank of China (PBOC), has announced a reduction in the amount of cash banks must hold as reserves, a move seen as a timely response to growing pressures in the domestic banking industry and rising risks abroad. State-owned Chinese newspaper, China Securities Journal, hailed the.
According to state-owned newspaper Shanghai Securities News, Xuan Changneng, a deputy governor at the People’s Bank of China, spoke at the Global Asset Management Forum in Beijing on Saturday about the recent collapse of Silicon Valley Bank and its potential implications for financial institutions. Changneng noted that the collapse demonstrated.
The AUD/USD continues to struggle to find acceptance above the 0.6700 mark on Friday. The Australian dollar is facing headwinds due to the risk-off sentiment, which has revived demand for the safe-haven US dollar. The risk-off sentiment is fueled by concerns over the global economic outlook. The ongoing coronavirus outbreak.
Introduction BlackRock, the U.S. asset manager, has denied any plans to acquire Credit Suisse, the Swiss lender that has been facing financial troubles. In a statement on Saturday, BlackRock said it had no interest in acquiring Credit Suisse, contradicting earlier reports that had suggested the asset manager was considering the.
The People’s Bank of China (PBOC) has injected liquidity into the banking system in response to rising pressures in the domestic banking industry and growing risks abroad. The move was considered “timely” by a state-owned Chinese newspaper. On Friday, the central bank reduced the amount of cash banks must hold.