Banking Selloff Goes Global After SVB Trouble. HSBC, BNP Paribas, UBS Tumble.

The selloff in the banking sector spread across the globe on Friday after SVB Financial Group said it was forced to unload assets at a loss following a decline in deposits. HSBC (ticker: HSBA.UK), Eur...

Big Banks Predict Recession, Fed Pivot in 2023

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China’s Unpredictability Is “Poisonous” For Its Business Environment, EU Chamber Says

A volunteer in protective gear fans himself with a paper printed with a health QR code at a COVID-19 … [+] testing site in Beijing, Monday, June 20, 2022. (AP Photo/Andy Wong) ASSOCIATED PRESS U...

China Covid Policies “Causing Massive Uncertainty For Businesses,” European Chamber Says

A Chinese flag in front of the Shanghai Railway Station during a lockdown due to Covid-19 in … [+] Shanghai earlier this month.Source: Bloomberg © 2022 Bloomberg Finance LP China’s Covid-19 poli...

JPMorgan Leads Talks to Contain Nickel Crisis Damage

Some of the world’s biggest banks worked over the weekend to resolve a crisis in the nickel market that leaves them on the hook for billions of dollars owed by a Chinese metals giant. JPMorgan Chase J...

DB Transfers Global Prime Finance & Electronic Equities to BNP Paribas

Financial services giants, Deutsche Bank (DB) and BNP Paribas today announced the completion of the transfer of global prime finance & electronic equities to BNP Paribas. According to Deutsche Ban...