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Credit Suisse rescue sends relief, but First Republic shares slump continues

Less than a week after large U.S. banks pumped $30 billion in deposits into the midsized U.S. lender, investors dumped First Republic on worries that infusion of capital would not be enough. Ratings agency S&P Global also downgraded it deeper into junk status on Sunday, citing liquidity risks.

Credit Suisse signage on the floor of the New York Stock Exchange (NYSE) in New York, US.(Bloomberg)
Published on Mar 21, 2023 10:30 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar

UK PM Sunak trusts UK Banking system safe despite Credit Suisse collapse

“We do believe we have a robust system, a strong system,” Prime Minister Rishi Sunak’s official spokesman Max Blain told reporters on Monday.

British Prime Minister Rishi Sunak.(REUTERS)
Published on Mar 20, 2023 06:17 PM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

Who are the winners and losers of UBS-Credit Suisse deal

UBS’s chief executive officer will see the bank’s wealth and asset management invested assets soar to about $5 trillion.

UBS Chairman Colm Kelleher (R) shakes hands with Credit Suisse chairman Axel Lehmann (L) after a press conference. (AFP)
Published on Mar 20, 2023 05:10 PM IST
Bloomberg |

Meet Dixit Joshi, the Indian-origin CFO of Credit Suisse

Dixit Joshi had taken over as Credit Suisse's chief financial officer in October 2022.

Dixit Joshi had first joined Credit Suisse in 1995. (LinkedIn)
Updated on Mar 20, 2023 03:56 PM IST

Stocks slump as Credit Suisse rescue fails to ease fear of global crisis

Asia gains for S&P 500 futures and European futures reversed as the sun rose in London. S&P 500 futures were last down 1%. European futures dropped 1.2% and FTSE futures fell 1.5%, and investors rushed to price in interest rate cuts.

A view of the Credit Suisse building at Circular Quay in Sydney, Australia.(REUTERS)
Published on Mar 20, 2023 01:54 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar
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