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  • The European Central Bank just brought in another big rate hike despite Credit Suisse rattling bank stocks

    16 days ago - By Business Insider

    The European Central Bank raised interest rates for a sixth time in a row Thursday. Ralph Orlowski/Getty Images
    The European Central Bank hiked interest rates by 50 basis points to 3.5% Thursday.
    It's the sixth time in a row that the central bank has raised borrowing costs.
    It has pressed ahead with its tightening campaign despite Credit Suisse's plunging share price rattling markets.
    The European Central Bank raised interest rates by 50 basis points Thursday, pressing ahead with its campaign to tame inflation despite the threat of a potential banking crisis. The central bank has now hiked...
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  • US stocks fall as turmoil in regional banks resumes and Credit Suisse gets a lifeline

    16 days ago - By Business Insider

    Traders work on the floor of the NYSE Thomson Reuters
    US stocks dropped Thursday, with regional banking stocks still moving lower.
    Western Alliance Bancorp is the latest bank to receive warning about a potential credit rating downgrade.
    The Federal Reserve launched its latest rate-tightening campaign 1 year ago.
    US stocks fell Thursday, with regional bank stocks still under pressure on concerns about depositors while expectations about what route the Federal Reserve will take in interest rates next week continue to shift. The S&P 500's gain for the year has been whittled to 1.4% after the...
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  • Credit Suisse could go bust if the ECB follows up on its rate hike promise, 'Dr. Doom' Nouriel Roubini says

    16 days ago - By Business Insider

    Nouriel Roubini REUTERS/Mike Segar
    Credit Suisse could fold if Europe's central bank raises interest rates as planned, Nouriel Roubini warned.
    "If ECB hikes by 50bps it is possible that CS goes bust over the weekend," the "Dr. Doom" economist said.
    Shares in the scandal-hit Swiss bank tumbled Wednesday as fears grew of a banking crisis.
    Credit Suisse could fold if the European Central Bank follows up on its planned hike in interest rates, "Dr. Doom" economist Nouriel Roubini has warned. The struggling Swiss banking giant came under pressure Wednesday after its biggest shareholder, the...
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  • Credit Suisse shares jump over 30% after a $54 billion SNB loan eases jitters, US stock futures stabilize

    16 days ago - By Business Insider

    The logo of Swiss banking group Credit Suisse is pictured on November 11, 2018 in Geneva Fabrice Coffrini/AFP/Getty Images
    Credit Suisse stock jumped Thursday after the SNB agreed to loan the banking giant $54 billion.
    The Swiss lender's Zurich-listed shares rose over 30%, reversing big declines in the prior session.
    US stock futures wavered around the flatline after logging big losses on Wednesday.
    Credit Suisse shares shot up 32% at the open in Zurich on Thursday, staging a recovery from the previous day's big losses after the Swiss National Bank offered the lender a $54 billion loan...
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  • 'Everything is fine' at Credit Suisse - it's just a bit of panic, says its biggest backer Saudi National Bank

    16 days ago - By Business Insider

    The logo of Swiss banking giant Credit Suisse is seen on October 17, 2017 in Zurich. FABRICE COFFRINI/AFP/Getty Images)
    'Everything is fine' at Credit Suisse, according to Saudi National Bank chairman Ammar Al Khudairy.
    There's been no discussions about the Swiss bank needing more capital or assistance, he said.
    Saudi National Bank insisted that raising its stake above 10% is a red line for regulatory reasons.
    'Everything is fine' at Credit Suisse and the recent volatility in its stock reflects a bit of market panic that's 'completely unwarranted,' said the chairman of its biggest backer...
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