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The Latest Breaking News on Financial Services

Bank raises interest rates again, alongside upgraded economic forecast

The UK economy is expected to grow slightly between April and June, revising a previously forecasted drop

Insider UK

Bank of England lifts UK interest rates again but upgrades economic growth forecast

Monetary Policy Committee voted seven to two to increase rates

Birmingham Post

If More Banks Crash — Here's How To Avoid Losing Money

Worried more banks will fall apart like Silicon Valley Bank and Signature Bank? ETFs can help protect you from risk in the S&P 500.

Investors Business Daily

From analysis to the latest developments in health,
read the most diverse news in one place.

After Fed, European central banks hike rates

LONDON: The Bank of England joined Norway and Switzerland in hiking interest rates on Thursday to tackle stubbornly-high inflation, though banking-sector turmoil could soon lead to a pause in US tightening as hinted by the Federal Reserve.

Bangkok Post

After Fed, European central banks hike their rates

London (AFP) - Switzerland and Norway hiked interest rates Thursday to tackle inflation despite banking-sector turmoil, with the UK's central bank next in line after the US Federal Reserve also lifted borrowing costs.

AFP

Will Apprentice star face probe over £50,000 Covid Bounce Back Loan to her firm?

Marnie Swindells received the sum to help her company through lockdown. It opened for business last month after being incorporated in 2019

Daily Mirror

Former Australian embassy employee sentenced to jail for hidden cameras in women's bathrooms in Bangkok mission

A former worker at the Australian embassy in Bangkok has been sentenced to two years' jail for installing tiny hidden cameras in women's bathrooms inside the secure government building.

ABC News

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Credit Suisse collapse leaves sports sponsorships in limbo

Geneva (AFP) - The takeover of Swiss bank Credit Suisse leaves many sports stars, teams and tournaments with a big question mark hanging over their lucrative sponsorship deals.

AFP

After Fed, Europe's central banks to decide on rates

London (AFP) - A clutch of European central banks announce interest-rate decisions Thursday as markets remain jittery over turmoil in the global banking sector.

AFP

Arkhom calms jitters

Finance Minister Arkhom Termpittayapaisith has offered reassurance that Thai financial institutions will not be affected by the banking debacle in the US and Europe as local organisations have little exposure to such banks.

Bangkok Post

Powell stresses commitment to cooling prices as Fed hikes rates

The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis.

Tribune News Service

U.S. judge orders $1.68 billion payout to families over 1983 Beirut bombing

A federal judge in New York ordered Iran's central bank and a European intermediary on Wednesday to pay out $1.68 billion to family members of troops killed in the 1983 car bombing of the U.S. Marine Corps barracks in Lebanon.

Reuters

US Fed lifts key interest rate amid banking sector fears

Washington (AFP) - The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector.

AFP

Fed Hikes Rates Despite Ongoing Banking Crisis, Cites High Inflation Risk

'The U.S. banking system is sound and resilient,' the Fed said.

The Street

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The Independent UK

Americans' faith in banks low after failures: AP-NORC poll

Only 10% of U.S. adults say they have significant confidence in the nation’s banks and financial institutions, a new poll finds

StockNews.com

3 Stocks with More Upside Potential

Coupled with macroeconomic headwinds, the sudden regional banking failures have marred investor sentiments. Moreover, amid anticipations of a recession, the existing market volatilities are not likely to subside anytime soon. Given this backdrop, we think the strong growth prospects of Gilead Sciences (GILD), Teva Pharmaceutical (TEVA), and MacroGenics (MGNX) make…

Investors Business Daily

Bank Runs Leave Top Credit Card Stocks Unscathed; Funds Buy Visa And Mastercard

Mutual funds and ETFs are buying growth stocks Visa and Mastercard in the ongoing banking crisis. Both are building bases.

The Independent UK

Credit Suisse customers feel mix of anger, relief after sale

Credit Suisse's customers are feeling a range of emotions after the government orchestrated a takeover of the country’s second-largest bank by rival UBS

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Investors Business Daily

Bank Stocks Falter After Fed Raises Rates, Repairs Continue

Bank stocks were mixed early Wednesday ahead of the Fed rate hike decision. Regional banks falter on First Republic, PacWest updates.

StockNews.com

3 Forever Stocks to Buy and Hold for the Long-Term

The banking crisis and the Fed’s determination to cool inflation with higher interest rate hikes are likely to tip the economy into a recession. Amid this backdrop, it could be wise for investors to focus on their long-term portfolios and buy fundamentally strong stocks Broadcom (AVGO), Coca-Cola (KO), and Casey’s…

The Street

PacWest Stock Slides After Scrapping Capital Increase Amid Deposit Slump

PacWest said its plans to raise new capital "would not be prudent" given "current volatility in the market and depressed market prices for regional bank stocks".

Tribune News Service

How a poker game launched Silicon Valley Bank’s four-decade ride of the tech wave — and a bad gamble 42 years later ended it all

In the early Eighties, when “High Tech” was still written with quotation marks and the region was starting to become known as The Silicon Valley, tennis buddies Bob Medearis and Bill Biggerstaff took their idea for a new bank to a poker game in Pajaro Dunes.

The Guardian - UK

Former ‘rogue trader’ Nick Leeson joins corporate private eye firm

Red Mist Market Enforcement Unit advertises financial investigation services to investors seeking compensation

Evening Standard

Pressure mounts on Bank of England for rate hike with inflation stuck in double digits

Odds on a 0.25% hike shorten after inflation shock complicates rate call after bank failures in Europe and the US

AFP

Stock markets mostly rise before crucial Fed rate call

London (AFP) - Major stock markets mostly rose Wednesday on soothing worries over the banking sector, according to analysts.

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