Credit Suisse executives reassure investors after CDS spike, Financial Times reports

Oct 2 (Reuters) – Credit Suisse (CSGN.S) executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital position, the Financial Times reported on Sunday. A spokesman for Credit Suisse declined to comment on the report when contacted by Reuters. Executives made the calls after spreads Credit Suisse credit default swaps … Read more

Analysis: Under water: how the Bank of England threw markets a lifeline

Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON/NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to meet margin … Read more

Barclays hit by $361 million U.S. penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with U.S. regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO C.S. Venkatakrishnan’s first year in charge. The bank said after London market close … Read more

UK pension funds ask corporates for cash after gilt blow-up -sources

LONDON, Sept 30 (Reuters) – British pension funds with big losses in gilt market derivatives have sought emergency funds from the companies they manage money for as they race to dump assets to raise cash, industry sources said on Friday. Many pension funds were caught out during the surge in bond yields this week that … Read more

Biden administration changes student loan guidance, as Republican-led states file lawsuit

WASHINGTON, Sept 29 (Reuters) – The Biden administration changed its guidance on who qualifies for federal student loan forgiveness on Thursday, as seven Republican-led states filed a challenge to its student debt cancellation program. President Joe Biden said in August that the U.S. government will forgive $10,000 in student loans for millions of debt-saddled former … Read more

Bank of England moves to calm bond market rout after tax cut storm

BoE starts buying bonds, delays gilt sales IMF does ‘not recommend’ policies like UK growth plan Fin min Kwarteng and PM Truss under fire for policy Pound trading down 0.7% to $1.065 Kwarteng meets banking bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell the fire-storm in Britain’s bond markets, … Read more

Australia flags privacy overhaul after huge cyber attack on Optus

Australian Prime Minister Anthony Albanese speaks at the Sydney Energy Forum in Sydney, Australia July 12, 2022. Brook Mitchell/Pool via REUTERS/File Photo Register now for FREE unlimited access to Reuters.com Register SYDNEY, Sept 26 (Reuters) – Australia plans to toughen privacy rules to force companies to notify banks faster when they experience cyber attacks, Prime … Read more

EXCLUSIVE Trump nominee Claver-Carone voted out at IDB, threatens legal action

Visitors walk past a screen with the logo of Banco Interamericano de Desarrollo (BID) at the Atlapa Convention Center in Panama City March 13, 2013. REUTERS/Carlos Jasso Register now for FREE unlimited access to Reuters.com Register MEXICO CITY/WASHINGTON, Sept 26 (Reuters) – The governors of the Inter-American Development Bank (IDB) on Monday voted to fire … Read more

Project Veritas loses jury verdict to Democratic consulting firm

Political activist James O’Keefe, currently CEO of Project Veritas, speaks at the Conservative Political Action Conference (CPAC) annual meeting at National Harbor near Washington, U.S., March 1, 2019. REUTERS/Yuri Gripas/File Photo/File Photo Register now for FREE unlimited access to Reuters.com Register Sept 23 (Reuters) – A federal jury has found Project Veritas, a conservative group … Read more

Bond sell-off worst since 1949, investor sentiment plummets – BofA

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 23 (Reuters) – Global government bond losses are on course for the worst year since 1949 and investor sentiment has plummeted … Read more