This month's U.S. banking system turmoil and renewed recession worries have left global investor confidence at one of the lowest levels in the last 20 years, and that does not even account for this week's demise of Credit Suisse.
Shares of First Republic Bank were up 25% in premarket trading on Tuesday after fears over the regional lender's health pushed its stock to an all-time low in the previous session.
Indian lenders are capable of enduring any potential contagion effects emanating from the U.S. banking turmoil and UBS's recent takeover of embattled Swiss lender Credit Suisse given their manageable exposures to their global counterparts, S&P Global Ratings said on Tuesday.
Kuwaiti logistic firm Agility said on Tuesday one of its subsidiaries and an affiliate have been awarded $1.65 billion in damages in an arbitration case against Iraq's Korek Telecom and prominent Iraqi Kurdish businessman Sirwan Barzani.
JPMorgan will team up with London-based private equity advisory firm Campbell Lutyens, both companies said on Tuesday, in a move to give its clients access to transactions involving the continuation funds of private equity firms.
Investors stepped cautiously into bank stocks on Tuesday, emboldened by the rescue of Credit Suisse, with share prices inching tentatively higher amid continuing concerns about smaller U.S. lenders and further financial market ructions.
Days before a hastily convened press conference late on Sunday that would make the world's front pages, Switzerland's political elite were secretly preparing a move that would jolt the globe.
Lawyers from Switzerland, the United States and UK are talking to a number of Credit Suisse Additional Tier 1 (AT1) bond holders about possible legal action after the state-backed rescue of Credit Suisse by UBS wiped out AT1 bonds, law firm Quinn Emanuel Urquhart & Sullivan said on Monday.
Credit Suisse Group AG Chief Financial Officer Dixit Joshi and his team will hold meetings over the weekend to assess strategic scenarios for the embattled Swiss bank as it enters a make-or-break weekend.
Reforms to tackle vulnerabilities in money market funds are urgently needed for the sector to cope better with economic shocks, a top European Union securities regulator said on Tuesday.
Sponsors are not involved in the creation of newsletters or other Reuters news content.
