The U.S. Treasury will announce on Tuesday that a coalition of private firms and foundations will deposit $1 billion into minority-owned and community development financial institutions to boost their lending firepower in underserved communities.
HSBC is considering selling its business in Canada, worth billions of dollars and one of the biggest international banking brands in the country, as it looks to beef up returns as demanded by its largest shareholder.
The cost of insuring the bonds of Swiss bank Credit Suisse fell sharply on Tuesday from the previous day's close, in line with a recovery in the company's shares, as some concerns around the bank subsided.
Shares in Credit Suisse rose more than 3% in early trade on Tuesday, rebounding from a sharp selloff on Monday amid market uncertainty over the Swiss bank's restructuring programme to stem a series of losses.
Legal & General Group has not been a forced seller of gilts, the insurer said in an unscheduled trading statement on Tuesday, quelling investor unease after sudden yield spikes sparked a dash for cash by some pension fund clients.
Britain's new Prime Minister Liz Truss promised to "unshackle" the City of London to fuel growth, but crashing the bond market over tax cuts will take the shine off her "Big Bang" plan for financial services.
Changes in global supply chains, demographic shifts, and fractured trade relationships may make inflation in the future more volatile, and force the Federal Reserve and other central banks to respond in kind, Richmond Federal Reserve President Thomas Barkin said on Monday.
