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[ad_1] Press play to listen to this article Voiced by artificial intelligence. AMSTERDAM — The world’s financial system needs a “massive adjustment” to cope with higher interest rates, and key rules will have to be revisited, according to a top global regulator. Klaas Knot, chair of the Financial Stability Board, an international standard-setting body, told…
[ad_1] Press play to listen to this article Voiced by artificial intelligence. FRANKFURT ― The markets are jittery and inflation still needs taming. Coming together, those two things put the European Central Bank in a real bind. Fight one fire and it could cause the other to flare. The ECB can keep raising interest rates…
[ad_1] The outlook for the global economy is likely to remain weak in the medium term amid heightened risks to financial stability, according to International Monetary Fund Managing Director Kristalina Georgieva. “We expect 2023 to be another challenging year, with global growth slowing to below 3 percent as scarring from the pandemic, the war in…
[ad_1] FRANKFURT — Swiss banking giant UBS will buy the country’s second-largest bank Credit Suisse in a deal that will come as a relief to financial markets in Europe and across the world. UBS said in a statement that the total price is 3 billion Swiss francs, or about $3.25 billion, in UBS shares. The…
[ad_1] As U.S. banking regulators begin their post-mortem of Silicon Valley Bank, some pundits are pointing the finger at crypto markets, whose own collapse over the past year left the tech-focused lender hopelessly exposed. The conventional wisdom about crypto is that it’s “self-referential” — a separate universe to conventional finance — and that its inherent…
[ad_1] Press play to listen to this article Voiced by artificial intelligence. LONDON — The U.K. government was scrambling on Sunday to limit the fallout for the British tech sector from the collapse of Silicon Valley Bank, a big U.S. lender to many startups and technology companies. The government is treating the potential reverberations as…
[ad_1] Press play to listen to this article Voiced by artificial intelligence. The U.K. has entered the international race to create a central bank-backed digital currency, with work to start on a “Britcoin.” The Treasury and Bank of England said last week it is “likely” a digital pound will be needed in future for everyday…