Goldman Sachs on Wednesday cut its forecast for fourth-quarter US gross domestic product growth, citing risks to lending, as smaller banks shrink their loan portfolios to conserve liquidity in the face of a banking crisis. Analysts at the bank now expect year-on-year growth of 1.2 percent for the fourth quarter, down 0.3 percent from the … Read more
Swiss Credit Suisse lost more than a quarter of its market capitalization on Wednesday after its biggest investor, Saudi National Bank, refused to inject more money into the bank. Reuters. “We can not [сделать этого]because our share would exceed 10%. This is a regulatory issue,” said Saudi bank chief Ammar Al-Khudayri, who now holds a … Read more
Meta Platforms , Facebook parent said Tuesday it would cut 10,000 jobs, sJust four months after laying off 11,000 employees, the first big tech company to announce a second round of mass layoffs. “We hope to reduce our team size to around 10,000 people and close around 5,000 additional open positions that we haven’t hired … Read more
The Silicon Valley Bank (SVB), one of the largest financial institutions catering to startups and venture capitalists, recently faced a major crisis that could potentially damage the entire startup ecosystem. While the bank managed to secure a bailout, industry experts are warning that the impact of its collapse could be devastating for emerging businesses. In … Read more
The competition that commercial banks launched into last Friday, after Bancolombia announced a lower interest rate to half of credit cardshas implications that could affect the monetary policy of the Banco de la República, but they also have to do with the policy of the Government to stimulate the popular economy. In the first case, … Read more
1.800 million dollars totaled the bank’s losses in the first quarter of this year. 40.000 billion dollars was the valuation of Silicon Valley Bank last year. After a turbulent week, Silicon Valley Bank (SVB), known for financing startups, finally collapsed after US banking regulators decided to close the entity and appointed the Federal Deposit Insurance … Read more
The US government wants to prevent the bankruptcy of US bank Silicon Valley Bank (SVB) from causing contagion to the rest of the banking system, US Treasury Secretary Janet Yellen said on Sunday, who nevertheless ruled out a bailout of the establishment. . “We want to make sure that the problems that affect one bank … Read more
Fear shook the New York Stock Exchange and stock prices tumbled on concerns about what would be next to go bankrupt under the weight of rising interest rates after the biggest US bank failure in nearly 15 years. The index Standard & Poor’s 500 fell 1.4 percent, capping its worst week since September. All this … Read more
Es is no less than the biggest bank collapse in the USA since 2008. The Silicon Valley Bank, so to speak the house bank of the start-up scene, was forced to close on Friday. Because customers withdrew deposits en masse, the bank stumbled. The problems of the SVB pulled down the papers of all banks … Read more
And Egypt and the Emirates are retreating Mubasher – Mahmoud Jamal: The Arab financial markets witnessed varying ups and downs at the end of the weekly trading, which coincided with the assertion of US Federal Reserve Chairman Jerome Powell, before Congress, that the Central Bank will likely have to increase interest rates more than expected … Read more