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The Latest Breaking News on Fears of City jobs axe grow as IG cuts 10% of staff

US bank stocks sink as Credit Suisse fear spurs renewed rout

Stocks of major U.S. lenders sank with a sector gauge hitting the lowest level since November 2020 on Wednesday, following European banks down after Credit Suisse Group AG plunged.

Tribune News Service

ASX loses 1.4pc as Credit Suisse share plunge rattles markets, unemployment rate returns to near-50 year low

The ASX 200 lost 1.4pc after a plunge for giant Swiss bank Credit Suisse triggered a rout on European stock markets and losses on Wall Street overnight.

ABC News

Alan Kohler: The Fed broke something, so the rate hikes are finished

US rate hikes only ever have a gradual impact on households, while in Australia the effect on the household sector is dramatic and immediate.

The New Daily

From analysis to the latest developments in health,
read the most diverse news in one place.

Will Credit Suisse be the next banking domino to fall?

After Silicon Valley Bank’s collapse, could one of Europe’s biggest (and most embattled) banks spark an even bigger crisis?

Fortune

BlackRock's Larry Fink sees the possibility of a broader banking crisis on the horizon: 'Are the dominoes starting to fall?'

Larry Fink, chief of the largest asset managers in the world, compared the SVB fallout to a "slow rolling crisis" similar to the Savings and Loan crisis.

Fortune

Credit Suisse: what is happening at Swiss bank and should we be worried?

Plunge in bank’s share price adds to fears over weaknesses in banking sector following collapse of SVB

The Guardian - UK

SVB collapse may be start of ‘slow-rolling crisis’, warns BlackRock boss

Larry Fink tells investors more ‘shutdowns and seizures’ in US possible and predicts inflation and interest rates to rise

The Guardian - UK

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Credit Suisse woes rock Wall Street

Wall Street was back in selloff mode early Wednesday as banking shares faced a fresh hammering amid worries that more lenders could fail.

Bangkok Post

Stocks drop as fears grow about the global banking system

A drop in shares of European lender Credit Suisse sparked fears that banking turmoil is spreading around the world.

WEKU

Fears over banking sector grow as Credit Suisse shares plunge

Shares in the Swiss bank were halted from trading, as were Société Générale, Monte dei Paschi and UniCredit

Evening Standard

High street banks lure tech firms away from Silicon Valley Bank UK after HSBC rescue deal

High Street banks are quietly stepping up their efforts to lure startups away from Silicon Valley Bank UK as the beleaguered firm’s customers weigh up whether to keep their accounts open after a last-minute rescue deal by HSBC.

Evening Standard

No impact on Thailand so far from US banking woes - Finance minister

Recent problems facing some banks in the United States had no impact on Thailand so far, Finance Minister Arkhom Termpittayapaisith told reporters on Wednesday.

Bangkok Post

Asian stocks higher after Wall St rebounds from bank jitters

Asian stock markets are higher after Wall Street stabilized following declines for bank stocks and U.S. inflation edged lower

The Independent UK

How to invest in today's market

From investing in precious metals to ramping up your diversification efforts, we asked experts for their advice on investing in today's market.

Fortune

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Bangkok Post

Easing concerns about Silicon Valley collapse

The collapse of three US banks in less than a week has sent shockwaves through the financial industry, with global stocks plunging and public confidence shaken.

The Guardian - UK

Silicon Valley Bank: inquiries launched into bank’s collapse and UK arm

Probes announced in the UK and US over failure of California lender as financial markets recovered from Monday’s turmoil

The Guardian - UK

SVB collapse presents central banks with a big headache

Failure of America’s 16th biggest bank amid high inflation poses an awkward decision on interest rates for the Federal Reserve

Fortune

‘It’s a big failure for us.' Sweden’s largest pension fund invested in both Silicon Valley Bank and Signature Bank before they failed

“We need to learn something from that and take actions based upon the lessons learned," Alecta CEO Magnus Billing told Bloomberg on Tuesday.

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Axios

Bitcoin prices go up when banks go down

Crypto got a boost from this weekend's bank turmoil, which market experts all linked to changing expectations.

Fortune

Bitcoin surpasses $25,000 after SVB collapse, CPI report

The cryptocurrency has struggled to maintain momentum past the $25,000 mark in 2023.

Axios

The week that killed Silicon Valley Bank

Early in the week of Feb. 27, SVB got some worrisome news.

Los Angeles Times

Michael Hiltzik: As Silicon Valley Bank's red flags were flying, the Fed was AWOL

On Jan. 18, William C. Martin, a short-seller and former hedge fund executive, warned his Twitter followers that they were missing something important about Silicon Valley Bank.

Evening Standard

Silicon Valley Bank collapse sends shockwaves across global markets

The swathes of deposit withdrawals in the US have shone a spotlight over the fragility of many mid-tier banking institutions

Fortune

Financial regulators are unprepared for bank runs in the age of social media

Monitoring volatility on social media platforms isn’t cumbersome or costly. Silicon Valley Bank's implosion shows regulators must change with the times.

Bangkok Post

Baht surges amid US bank collapse

The baht on Monday surged against a significant fall in the US dollar mainly due to the sudden collapse of Silicon Valley Bank (SVB) and the market's expectation that the US Federal Reserve (Fed) would slow down its policy rate hikes.

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