On the Paris stock exchange, French bank Société Générale fell by 10.6% and BNP Paribas by 10.3% - marking the biggest decline in the session since 24 February 2022 for Société Générale and since 16 March 2020 for BNP Paribas.
The Oracle of Omaha never saw a future in cryptocurrency.
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OTTAWA (Reuters) -The Bank of Canada is ready to step in with support if the banking system comes under severe strain, but now it is not even close to being worried about the health of the financial system, Deputy Governor Toni Gravelle said on Wednesday. In a speech to financial services professionals in Montreal, Gravelle also said the central bank's quantitative tightening (QT) program will have run its course by the first half of 2025. The failures of U.S. lenders Silicon Valley Bank and Signature Bank, followed by Credit Suisse's rescue, are prompting central bankers to closely monitor the potential for banking stress to trigger a credit crunch.
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Shares of Silicon Valley Bank soared more than 12,000% on Wednesday from a low of a single penny on Tuesday, when trading reopened.
In troubled and uncertain times, people like to explain and assert things that often lack accuracy and understanding. The 2008 financial crisis, QE, the pandemic and climate change have provided many examples.
(Bloomberg) -- Read this in Japanese: ３兆ドルの日銀黒田レガシーが逆回転の恐れ、世界の金融市場に衝撃もMost Read from Bloomberg$52 Billion Chipmaking Plan Is Racing Toward FailureNew Yorkers Are Moving to These Three Florida Cities$335,000 Pay for ‘AI Whisperer’ Jobs Appears in Red-Hot MarketScotiabank Economist Excoriates Trudeau, Freeland Over $32 Billion Spending BoostFBI Releases Files on Ivana TrumpBank of Japan Governor Haruhiko Kuroda changed the course of global markets when he unleashed a $3.4 trillion firehose of Japa
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OTTAWA — The Canada Revenue Agency will pilot a new automatic system next year to help vulnerable Canadians who don't file their taxes get their benefits. This week's federal budget says the Canada Revenue Agency will also present a plan in 2024 to expand the service, following consultations with stakeholders and community organizations. The move toward automatic tax filing, first promised in the 2020 speech from the throne, is one of several budget measures the Liberals say are meant to help Ca
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The Canadian dollar strengthened to its highest level in nearly four weeks against its U.S. counterpart on Wednesday as a recovery in risk appetite raised pressure on speculators that have raised bearish bets on currency. The loonie was trading 0.2% higher at 1.3570 to the greenback, or 73.69 U.S. cents, after touching its strongest since March 3 at 1.3560. "A number of points seem to be coming together to support the Canadian dollar and potentially open the door to a bit more strength," said Shaun Osborne, chief currency strategist at Scotiabank, noting the recovery in risk appetite, a pickup in Canadian oil prices and extreme bearish positioning in the currency.
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SINGAPORE/HANOI (Reuters) -Vietnam's largest conglomerate, Vingroup, is in discussions to sell a stake in its shopping mall arm as it seeks to bring in strategic investors, five sources told Reuters on Wednesday. Vincom Retail, Vietnam's biggest shopping mall operator, which is nearly 60% controlled by Vingroup, commands a market value of $2.8 billion. The sources said Thailand's biggest retailer Central Group and other companies are in negotiations to buy a stake in Vincom Retail.
With inflation still near its highest level in decades, the federal budget unveiled in Ottawa Tuesday offered a lot of talk about making life more affordable for Canadians — but few details about how it's all going to work. One of the biggest items leaked prior to the budget's release is something the government is calling a "grocery rebate" meant to mitigate the cost of grocery prices that are still rising at an annual rate of more than 10 per cent. It's an extended version of the existing GST
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Once you've entered retirement, you'll need to have a plan for your retirement savings account. Ideally, you'll utilize these savings in a way that can make your nest egg last for years to come -- but...
Finance Minister Chrystia Freeland released a budget in Ottawa on Tuesday that deepens Canada’s fiscal deficit as the Trudeau government books C$43 billion ($31.6 billion) in new costs over six years. New spending focuses on bolstering the health-care system, keeping up with the US on clean-technology incentives, and helping low-income Canadians cope with inflation. Debt as a proportion of total output will climb as a result, before resuming its downward trajectory. No return to budgetary balanc
