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The Latest Breaking News on Financial Services

How "too big to fail" banks became a symbol of safety

Not that long ago, these banks were the villains that nearly cratered the economy.

Axios

Commentary: The Fed just raised interest rates. Does that mean there is no banking crisis?

Do we have a banking crisis in the United States or don’t we?

Los Angeles Times

Markets reverse after recent gains as bank fears linger

Hong Kong (AFP) - Stock markets dipped Friday after a broadly healthy week, as lingering concerns about the banking sector played against hopes that central banks could be nearing the end of their interest rate hiking cycle.

AFP

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Hunter businesswoman Julie Ainsworth joins Greater Charitable Foundation board

Newcastle businesswoman and former general manager of the Newcastle Herald, Julie Ainsworth, has joined the Greater Charitable Foundation's Board of Trustees, the bank announced Friday.

Newcastle Herald

Asian shares fall on banking turmoil, recession worries

Shares have fallen in Asia as worries over turmoil in the banking sector and the risks of recession overshadowed gains on Wall Street

The Independent UK

Asian markets reverse after recent gains as bank fears linger

Hong Kong (AFP) - Asian markets dipped Friday after a broadly healthy week, as lingering concerns about the banking sector played against hopes central banks could be nearing the end of their interest rate hiking cycle.

AFP

Why on earth wasn’t Silicon Valley Bank bailed out by the US government?

While there is little sympathy for banks or the Silicon Valley crowd, surely the US government could have tried saving the bank rather than shutting it overnight.

Crikey

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Is Australia heading for an insolvency crisis?

With a COVID-era economy stuffed with cash-handouts, Australian businesses have enjoyed record low insolvency rates for years. Now, we can expect that to change.

Crikey

KResearch projects exports contracting 1.2% this year

Exports are forecast for a deeper contraction of 1.2% this year, attributed to the global economic slowdown and the banking debacle in the US and Europe, according to Kasikorn Research Center (KResearch).

Bangkok Post

Silicon Valley Bank CEO Sold $3.6 Million In Stock And Could Be Hiding In Hawaii Now

SVB at the center of the financial crisis of March 2023 saw several insiders sell shares before the bank run by its customers

Zenger

Industries uneasy over banking crisis

Domestic car and motorcycle sales may bear the brunt if Thai financial institutions are affected by the risk of failed banks in the US and Europe, says the Federation of Thai Industries (FTI).

Bangkok Post

SCBAM eyes 3-5% growth in assets

SCB Asset Management (SCBAM) aims to grow its assets under management (AUM) by 3-5% this year from 1.6 trillion baht recorded in 2022.

Bangkok Post

A vital pillar of US economy, regional banks soldier on

New York (AFP) - When Barrett Hill, a farmer in the US state of Illinois, needs a loan for land or new equipment, a simple phone call is all that it takes.

AFP

Intensive monitoring backs local banks to ride out global market ructions

Financial regulators confirm the resilience of Australia's banking system following rigorous oversight during the past fortnight.

The New Daily

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Liverpool Echo

Look inside iconic Liverpool building as it enters a new era

Martins Bank has stood on Water Street since 1932 and is being turned into commercial space

AFP

Central banks hike rates despite turmoil

London (AFP) - The Bank of England joined Norway and Switzerland in hiking interest rates Thursday as inflation remains elevated, though banking-sector turmoil could soon lead to a pause in US tightening as hinted by the Federal Reserve.

The Independent UK

Lawmakers tell ex-CEOs 'you must answer' for bank failures

Leaders of the Senate’s banking committee are telling former chief executive officers at the failed Silicon Valley Bank and Signature Bank they “must answer” for their banks' "downfall.”

AAP

Regulator backs local banks to ride out global storm

Financial regulators confirm the resilience of Australia's banking system following rigorous oversight during the past fortnight.

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AFP

UBS, Credit Suisse tie-up may not lead to Swiss bliss

Geneva (AFP) - The marriage of UBS and Credit Suisse was hastily arranged to prevent a global financial meltdown -- but the size of the resulting megabank could cause domestic problems in Switzerland, the central bank admitted Thursday.

AFP

More central banks hike rates despite banking turmoil

London (AFP) - The Bank of England joined Norway and Switzerland in hiking interest rates 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.

The Guardian - UK

Is this the end of UK interest rate rises or are there more to come?

The Bank of England’s move risks squeezing the economy just as inflation is expected to start falling

Manchester Evening News

What the Bank of England's rise in interest rate means for you and your money

The UK's interest rate has been risen up for the 11 consecutive time in a bid to drive down inflation

Insider UK

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

Birmingham Post

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

Monetary Policy Committee voted seven to two to increase rates

Investors Business Daily

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.

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