Canadian branch of SVB has assets temporarily seized
Canada’s banking regulator temporarily seized the assets of Silicon Valley Bank’s lone Canadian branch on Monday after the financial institution collapsed.
Canada’s banking regulator temporarily seized the assets of Silicon Valley Bank’s lone Canadian branch on Monday after the financial institution collapsed.
(Bloomberg) -- Canada increased oil production in the second half of last year, but came short of its pledge to boost output by 200,000 barrels a day to help nations trying to shift away from Russian supplies after the Ukraine invasion.Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s $1 Billion Offer
TORONTO — The liquidation sales at Nordstrom stores across Canada will begin Tuesday. A spokesperson for the department store chain confirmed the impending sales period Monday in an email to The Canadian Press, just after the Ontario Superior Court of Justice gave the U.S. retailer's Canadian branch permission to start selling off its merchandise. At a hearing at Osgoode Hall in Toronto, lawyer Jeremy Dacks, who represented Nordstrom, said the company has "worked hard to achieve a consensual pat
(Bloomberg) -- Taiwan’s exports of integrated circuit chips to China and Hong Kong fell for a fourth month in February as Washington-Beijing tensions simmer and demand for electronics continues to drop off. Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push
When Premier Doug Ford's government tables its new budget on Thursday, expect to see more than $6 billion devoted to subsidizing hydro bills. Although previous Liberal governments also spent taxpayer money on lowering electricity prices, Ford's Progressive Conservatives have taken it to such a level that it is now one of the single biggest line items in the Ontario budget. The 2022-23 provincial budget earmarked $6.3 billion for "electricity cost-relief programs," nearly four times as much as th
China is launching an annual recruitment of college graduates in large and midsize cities, the official Xinhua news agency said on Sunday, as authorities double down on efforts to meet a more ambitious job creation goal this year. The recruitment drive, hosted by the Ministry of Human Resources and Social Security, will last from Sunday to May 26, Xinhua said. China aims to create around 12 million urban jobs this year, up from the 2022 target of at least 11 million.
There are a handful of signs to follow to know how the stock market is dealing with the bank crisis, Fundstrat says. In the meantime, buy tech stocks.
Approximately 80% of all Americans aged 60 and older are homeowners, and housing wealth accounts for about 48% of the median wealth of that group. As retirees near large cities, and strong housing markets, start retiring, they realize they can … Continue reading → The post Vanguard Says Retirees Can Add at Least $100k to Retirement Savings By Doing This appeared first on SmartAsset Blog.
The Toyota Prius C and Nissan Leaf deliver some of the best bang for your buck on the challenging used-car market, Consumer Reports found.
NEW YORK (Reuters) -Oil prices bounced up on Monday in volatile trade after diving to their lowest levels in 15 months as the market worried that risks in the global banking sector could spark a recession that would sap fuel demand. Brent crude futures for May edged higher 3 cents to $73.00 a barrel by 1:20 p.m. EDT (1720 GMT). Oil prices rebounded as Wall Street posted gains.
The danger posed by paper losses on bonds is newly relevant with the failure of Silicon Valley Bank. The debate about their treatment goes back decades.
China’s reopening is set to add momentum to global economic growth, and despite the negative price movement in crude this week, oil bulls remain optimistic
(Bloomberg) -- China’s diesel exports surged more than tenfold at the start of the year — and gasoline shipments also climbed — as domestic demand eased during the Lunar New Year holiday and refiners used their export quotas.Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueWarren Buffett in Contact With Biden Team on Banking CrisisCredit Su
The Swiss giant has weathered a slew of scandals in recent years, and investors are jittery after the collapse of three US banks.
The cuts come on top of 18,000 job cuts the business had already announced in January.
The biggest U.S. banks have not stepped forward to welcome homeless crypto businesses scrambling for banking services after fleeing the wreckage of Silvergate Bank, Signature Bank and Silicon Valley Bank.
Commodity analysts at Standard Chartered warn that the oil price crash has been exacerbated by hedging activity–specifically, due to gamma hedging effects
Volkswagen has been trying to sell its Russian assets, including its flagship plant in the city of Kaluga, which has been furloughed since March 2022.
Mercedes will invest billions of dollars to modernise its plants in China, Germany and Hungary over the coming years, magazine Automobilwoche reported, as the carmaker prepares to switch to electric vehicles and cut emissions. The European Union has set a goal to halve CO2 emissions per passenger car over their life cycle by the end of this decade compared to 2020 and is seeking agreement on a 2035 deadline to end the sale of fossil fuel cars. Mercedes has said it will be ready to go electric by the end of the this decade, where market conditions allow.
TORONTO — Credit rating agency DBRS Morningstar says funding levels at Canadian banks are stable despite about $57 billion in lost market capitalization for the Big Six banks over the past two weeks. Analyst Carl De Souza says in a report out Monday that the failure of Silicon Valley Bank and Signature Bank are idiosyncratic and not representative of the Canadian banking sector. He says that while the Big Six banks have lost about 9.2 per cent in market capitalization, they have diversified and
Martin Lewis has issued a warning to millions of people who are saving into a workplace or private pension scheme. Source: The Martin Lewis Money Show, ITV