Newsletter Mar 20, 2023

Credit Suisse takeover, central bank action calm jittery markets

Moves by authorities to avert a global banking crisis appeared to have lifted market confidence on Monday as investors welcomed emergency dollar liquidity from top central banks and a historic Swiss-backed acquisition of troubled Credit Suisse by UBS Group.

UK interior minister visits Rwanda to expand deportation plan

Interior minister Suella Braverman visited Rwanda on Saturday to expand a deal under which the country will accept migrants who arrive in Britain without permission, if British courts confirm that the proposals are legal.

Asian stocks drop despite Credit Suisse buyout, central banks' pledge

Wall Street titans including JP Morgan, Bank of America and Citigroup pledged to inject $30 billion into under-pressure lender First Republic Bank.

Global central banks open daily dollar taps to help banks

Top central banks, faced with the risk of a fast-moving loss of confidence in the stability of the financial system, moved on Sunday to bolster the flow of cash around the world.

Silicon Valley Bank's parent company cut off from bank's records

SVB Financial, the bankrupt parent company of Silicon Valley Bank, has lost access to its financial records after the bank was placed into receivership by the Federal Deposit Insurance Corporation (FDIC).

Oil edges up on historic Swiss banks deal, central banks support

Oil prices rose on Monday after suffering their biggest weekly loss in months as UBS struck a deal to buy Credit Suisse and some of the world's largest central banks sought to reassure and stabilise global financial markets.

As economy worsens, Lebanese juggle dizzying rates for devalued pound

As Lebanon's economy continues to collapse, an array of exchange rates for the local pound has emerged.

China's Xi plays peacemaker on Russia visit

Putin visits Mariupol as part of surprise tour of occupied Ukraine

President Vladimir Putin made a surprise weekend visit to the war-ravaged port of Mariupol, state media reported.

France's Macron faces another test with parliamentary votes on Monday

President Emanuel Macron faces a critical moment on Monday when the National Assembly is due to vote on no-confidence motions.

Lacking health workers, Germany taps robots for elder care

Lacking health workers, Germany taps robots for elder care.

Credit Suisse: a bank sunk by scandals

The catalogue of troubles began with the 2021 collapse of Greensill, a British financial firm specialised in short-term corporate loans via a complex and opaque business model.