Scottish Mortgage Investment Trust chair quits after boardroom bust-up March 21, 2023 The chair of the Scottish Mortgage Investment Trust has stepped down today after a public bust up with one of the firm’s directors over alleged “procedural violations” in its investment practice.
European markets to open higher after Credit Suisse drama as investors split on central bank rate hikes March 21, 2023 European markets are set to open higher on Tuesday as investors bet that banking turmoil will put a halt to central banks’ battle to contain inflation The FTSE and Frankfurt’s DAX were called up 0.59 per cent while the CAC in Paris was called up 0.47 per cent. After the drama of the past few [...]
FTSE 100 closes up as investors hope Credit Suisse deal will contain banking crisis March 20, 2023 Markets managed to shrug off turmoil in the banking sector to finish the day higher despite huge turmoil in the financial sector. The FTSE 100 closed 0.93 per cent higher at 7,403.85 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.13 per cent [...]
UBS and Credit Suisse face legal threats after bond wipeout and shareholder bypass March 20, 2023 UBS and Credit Suisse are facing potential legal action from investors after the controversial tie-up between the two banks bypassed a vote by shareholders and wiped out $17bn of Credit Suisse bonds.
Silver prices soar as investors turn to precious metal amid banking crisis March 20, 2023 Silver prices climbed above $22 per ounce today as investors turned to the precious metal amid an unfolding banking crisis.
Credit Suisse: ECB tries to settle market after UBS deal wipes out $17bn of AT1 bonds March 20, 2023 The European Central Bank said its banking sector was “resilient” today as it moved to settle volatile bond markets today following the controversial move to wipe out Credit Suisse AT1 bondholders last night. As part of UBS’s rescue swoop for its beleaguered Swiss rival, regulators wrote off some £13.92bn ($17bn) of Credit Suisse additional tier [...]
Oil toils: Crude prices tumble as global banking chaos triggers recession fears March 20, 2023 Both major oil benchmarks have plummeted in this morning's trading, with investors spooked over the instability in the banking sector.
FTSE 100 live: London index joins European markets to close in the red as jitters over Credit Suisse contagion continue March 17, 2023 A dramatic week for European markets has ended on a low, with a number of interventions from global banks failing to calm the nerves of jittery investors. London’s FTSE 100 closed firmly in the red despite seeing gains in early trading on Friday. It followed a group of US banking giants injecting 30 billion US [...]
Recession off the cards, getting over 50s ‘back to work’, strikes and banks take stock – the five best read stories on City A.M. this week March 17, 2023 It was the week UK Chancellor Jeremy Hunt laid out his first Spring Budget, but as pension savers and taxpayers looked on, fears of a recession appeared to fade, although the sagas of banks Silicon Valley Bank, Credit Suisse and on-going strikes raged on; here are the stories readers were flocking to on City A.M. [...]
Gold price rallies as safe haven asset is boosted by contagion from US banking fallout March 17, 2023 Gold prices continue to rise as investors look for safe haven assets amid fears of further market volatility in the US banking sector.