The Latest Breaking News on Financial Services

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.

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. 

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.

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.

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.

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.

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

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

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…