International Finance News and Updates – International Business Times, Singapore

Here's How Much Saudi Arabian and Qatari Investors Lost After Credit Suisse Crash

Gulf investors funded scandal-hit Credit Suisse, which went on to suffer huge losses owing largely due to the mismanagement of credit risk.

Mar 21, 2023

By Jacob J

Nearly 200 US Banks at Risk of SVB-Like Failure Triggered by a Bank Run - Report

The asset value erosion at Silicon Valley Bank (SVB) triggered a spate of withdrawals from uninsured depositors, which in turn created a bank run and eventual collapse of the 16th largest bank in the US.

Mar 20, 2023

By Jacob J

UBS to Buy Crisis-Hit Credit Suisse; New Entity to Control Whopping $5 Trillion in Total Assets

Credit Suisse shareholders will get 1 UBS share for every 22.48 Credit Suisse shares under the deal. The merger will be completed by the end of the year.

Mar 20, 2023

By Jacob J

Banking Giants Pool In $30 Billion to Rescue Crisis-Hit California Bank First Republic

The lender received a $30 billion rescue deal from some of the nation's biggest banks like JPMorgan, Citigroup, Bank of America and Wells Fargo.

Mar 17, 2023

By Jacob J

Swiss National Bank Bails Out Crisis-Hit Credit Suisse to Avert Major Banking Crisis

Earlier on Wednesday, Credit Suisse' shares plunged after Saudi National Bank, which was Credit Suisse's largest investor, refused to offer further financial assistance.

Mar 16, 2023

By Jacob J

$465 Billion Wiped Off Global Banking Stocks Following SVB Collapse - Report

Panic gripped markets following the collapse of Silicon Valley Bank last week, with investors increasingly becoming sceptical of the safety of banking stocks.

Mar 14, 2023

By Jacob J

HSBC Buys Out SVB's UK Arm With £5.5 Billion in Loans and £6.7 Billion in Deposits for Symbolic £1

HSBC is one of the world's biggest banks, and has assets worth nearly $3 trillion under its watch. It's shares were down 3.8% on Monday.

Mar 13, 2023

By Jacob J

Hong Kong Firms' Exposure to SVB Collapse Reaches About $200 Million; HKMA Steps In With Assurance

Beijing-headquartered biotech firm BeiGene, which had about $175 million in deposits at SVB was the worst hit among the Hong Kong-listed companies.

Mar 13, 2023

By Jacob J

Sam Altman, Other Tech Execs Race to Save Startups From 'Extinction' After SVB Collapse

Sam Altman, who runs one of Silicon Valley's hottest companies, bailed out some entrepreneurs from his own pocket.

Mar 12, 2023

By Reuters

Will Elon Musk Buy Failed US Bank SVB? Twitter Chatter Amid FDIC's Frantic Bid to Seal a Merger Deal

The interesting exchange comes amid reports that the FDIC is looking to find an American bank that would merge with the Silicon Valley Bank.

Mar 11, 2023

By Jacob J

Elon musk

Silicon Valley Bank Collapses, Marking Biggest US Bank Failure Since 2008

The tech-focused bank was ranked as the 16th biggest lender in the US at the end of 2022 and had more than $210 billion in assets.

Mar 11, 2023

By Jacob J

Silicon Valley Bank in Trouble After Silvergate; Banking Stocks See $80 Billion Wipeout

SVB's CEO Gregory Becker has reiterated that the bank is well capitalized.

Mar 10, 2023

By Jacob J

Credit Suisse Gets Regulatory Approvals to Launch Wealth Banking Business in China

The expansion comes after the lender suffered worse-than-expected global wealth outflows of 92.7 billion Swiss francs ($98.29 billion) in the fourth quarter.

Mar 9, 2023

By Reuters

Global Consulting Giant McKinsey to Cut 2,000 Jobs After Aggressively Adding Headcount in Recent Years

McKinsey, meanwhile, confirmed that it is still hiring professionals for roles that directly deal with clients.

Feb 22, 2023

By Jacob J

Singapore's DBS, Southeast Asia's Largest Bank, Says Quarterly Profit Jumps 68%

DBS' annual profit soared 20% to a record S$8.2 billion.

Feb 13, 2023

By Reuters

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India@75: Article-370 in J&K is History; Three Glorious Years Later, "Nothing" Has Changed

By Danish Manzoor

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International Finance News and Updates – International Business Times, Singapore

Here's How Much Saudi Arabian and Qatari Investors Lost After Credit Suisse Crash

Nearly 200 US Banks at Risk of SVB-Like Failure Triggered by a Bank Run - Report

UBS to Buy Crisis-Hit Credit Suisse; New Entity to Control Whopping $5 Trillion in Total Assets

Banking Giants Pool In $30 Billion to Rescue Crisis-Hit California Bank First Republic

Swiss National Bank Bails Out Crisis-Hit Credit Suisse to Avert Major Banking Crisis

$465 Billion Wiped Off Global Banking Stocks Following SVB Collapse - Report

HSBC Buys Out SVB's UK Arm With £5.5 Billion in Loans and £6.7 Billion in Deposits for Symbolic £1

Hong Kong Firms' Exposure to SVB Collapse Reaches About $200 Million; HKMA Steps In With Assurance

Sam Altman, Other Tech Execs Race to Save Startups From 'Extinction' After SVB Collapse

Will Elon Musk Buy Failed US Bank SVB? Twitter Chatter Amid FDIC's Frantic Bid to Seal a Merger Deal

Silicon Valley Bank Collapses, Marking Biggest US Bank Failure Since 2008

Silicon Valley Bank in Trouble After Silvergate; Banking Stocks See $80 Billion Wipeout

Credit Suisse Gets Regulatory Approvals to Launch Wealth Banking Business in China

Global Consulting Giant McKinsey to Cut 2,000 Jobs After Aggressively Adding Headcount in Recent Years

Singapore's DBS, Southeast Asia's Largest Bank, Says Quarterly Profit Jumps 68%

India@75: Article-370 in J&K is History; Three Glorious Years Later, "Nothing" Has Changed

India@75: Article-370 in J&K is History; Three Glorious Years Later, "Nothing" Has Changed

Why Musk Isn't Alone in the Battle Against Twitter's Mission to Save Democrats, Not Democracy

Why Musk Isn't Alone in the Battle Against Twitter's Mission to Save Democrats, Not Democracy

World War III Over Ukraine? The Blood Will be on Joe Biden's Hands, Not Putin's

World War III Over Ukraine? The Blood Will be on Joe Biden's Hands, Not Putin's