Moody’s Cuts Banking Outlook To Negative
Moody’s Investor’s Service has responded to a “rapidly deteriorating operating environment” in the US banking system by downgrading the entire sector from stable to negative, despite regulator’s efforts to shore…
Credit Suisse Report Noted Outflows Are Exacerbating Liquidity Risks
After Credit Suisse announced it had found “material weaknesses” in its financial reporting processes for 2022 and 2021, shares of the bank fell to a new all-time low. The disclosures…
Ken Griffin Says Bank Bailouts Mark Death Of Capitalism
Ken Griffin, founder of the Citadel hedge fund, has said the intervention by the US Government in the banking crisis unfolding in the United States marks the beginning of the…
Washington Encourages Traders To Move Russian Oil
The Financial Times has reported that the US government is quietly encouraging the largest commodity traders in the world to deal in price-capped Russian oil, as they seek to boost…
Crypto Rallies In The Face Of The Banking Crisis
On Monday, as US officials sought to rein in a growing banking crisis, the major cryptocurrencies rallied, and the overall market capitalization of the cryptocurrency sector rallied its position to…
Dollar Slides After Bank Failures
On the heels of a Goldman Sach’s forecast that the US Federal Reserve will likely bring its rate hikes to a halt following the sudden onset of the banking crisis,…
Charles Schwab Falls In Wake Of Banking Crisis
Following the failures of US banks Silicon Valley Bank and Signature Bank, shares in the US financial and brokerage firm Charles Schwab fell Monday, as fears reverberated through the financial…
US Banking Failures Rattle European Markets
As investors weighed the consequences of the recent spate of banking failures in the US, European markets sank Monday, led down by banking stocks. In the US three major banks,…
Signature Bank Taken Over By Regulators
In an effort to prevent a potential banking crisis Sunday, US regulators shut down NY-based Signature Bank, a major lender which focused on lending in the crypto-industry. The US Treasury,…
Saudi Aramco Posts Record Profits
Higher crude prices have produced another record earnings report for an oil giant, this time Saudi Arabia’s state-run Saudi Aramco. In 2022 the company’s profits surged to $161 billion, a…