UBS Formally Submits Offer To Buy Credit Suisse
UBS Group AG has formally offered to buy the struggling Credit Suisse for up to $1 billion, the Financial Times reported on Sunday. In order to accelerate the deal, the Swiss government will look to change the country's laws...
PIMCO Expects Fed To Raise Interest Rates By 25 Basis Points
Pacific Investment Management Co (PIMCO) CEO Daniel Ivascyn expects the federal reserve to raise interest rates by 25 basis points during its next policy meeting on March 22. Ivascyn expects the central bank to ease its interest rate hikes...
Stocks Steady As Credit Suisse Borrows Cash From Central Bank
Markets recovered slightly on Wednesday after news that Credit Suisse would borrow up to 50 billion francs ($53.7 billion) from the Swiss central bank as a means of stabilizing its financial predicament. Credit Suisse shares fell by 24% on...
Goldman Sachs Reduces GDP Forecast Following Banking Crisis
Goldman Sachs issued a statement of warning on Wednesday to investors amid the wave of economic uncertainty arising from the collapses of Silicon Valley Bank and Signature Bank. This development led Goldman Sachs chief economist Jan Hatzius to reduce...
Consumer Price Rise The Slowest Since September 2021
The Consumer Price Index revealed that headline inflation in the United States rose 0.4% over the last month and 6% over the prior year in February. This is a decline from the 0.5% month-over-month increase and the 6.4%...
Stocks, Bonds Waver Amid SVB Fallout
U.S. stocks started the week on a somber note after suffering the aftereffects of the collapse of Silicon Valley Bank. U.S. regulators took control of SVB on Friday in a move to limit the effect of the tech-focused bank's...
