The state engineered the Credit Suisse acquisition to prevent it from going under. With this takeover, UBS ended up with a balance sheet that exceeds $1.6tn, which is nearly double that of the Swiss economy. Since March 2023, when the intended takeover was announced, this financial giant’s shares jumped 50%. In an email statement sent…
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British Business Bank (BBB), which administered the government pandemic loan schemes, removed guarantees with a total value of £979m. The bank quoted data corrections, application mistakes, and double funding as some of the reasons for this move. At the onset of the pandemic, the UK government put different loan schemes in place in an attempt…
Read moreReuters has announced that Reuters Video Archive is now available direct from Reuters through Reuters Media Express, the premier platform that delivers thousands of multimedia stories per day to over 3,000 publishers in broadcast, digital and print. Reuters Video Archive is one of the most comprehensive collections of international news stories that have shaped the world we…
Read moreReuters has announced that it is partnering with mobile technology company ONEm to bring Reuters news content on mobile to millions of people around the world who do not have access to mobile data or smartphones. Users of the service will be able to access Reuters top news stories as well as business, entertainment and sport news.…
Read moreAs the holiday period draws to a close in Europe and North America, the business world re-opens, with ingenious retailers cashing in, an oil-related debt problem, Qualcomm may be hit hard by China, and the missing aircraft which did not affect share prices
Read moreDaily spot foreign exchange trading volumes on Thomson Reuters saw a rebound along with much of the industry from year-to-date lows of April. June ADV (average daily volumes) on Reuters Matching, Dealing and Trading for crept back to $94 billion an 8% increase from $87B a month earlier. Meanwhile, always interesting to report volumes on…
Read moreIn the wake of forex rates manipulation investigations, senior management patience runs thin Following our report last week that several pairs were affected in the alleged currency rates manipulation of the 4 pm fix.Some new information was sourced in a report by Reuters titled "Banks consider ban on chat rooms after rigging probe" shed light on…
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