Global banks may lose more than 6 billion from the downfall of Archegos Capital, sources familiar with trades involving the U.S. investment firm said on Monday, and regulators and investors fear the episode could reverberate more widely. Japans Nomura and Credit Suisse of Switzerland warned of major losses from lending to Archegos for equity derivatives […]

Banks and other financial firms in Britain must set out by March 2022 how quickly critical parts of their business could recover from IT glitches and other disruptions and how to minimise the impact, the Bank of England said on Monday. The BoEs Prudential Regulation Authority PRA, in conjunction with the Financial Conduct Authority, set […]

Spains budget deficit spiked to eightyear highs last year after social spending increased and tax revenue plunged due to restrictions imposed to tame the COVID19 pandemic, but the gap ended below the governments forecast. Budget Minister Maria Jesus Montero told a news conference on Monday the deficit widened to the equivalent of 10.09 of gross […]

TOKYO, March 26 Reuters The Bank of Japan will take a more handsoff approach in bond buying operations from April under new guidelines set last week, sources familiar with its thinking said, as it seeks to breathe life back into a market made dormant by its huge presence. The new approach will be clarified in […]

Banks will be able to accelerate dividends and buybacks to shareholders this year, but not until June 30 and provided they pass the current round of stress tests, the Federal Reserve announced Thursday. The biggest Wall Street institutions have been limited based on income in their ability to do both for nearly the past year […]

The stranded megacontainer vessel, Ever Green in the Suez Canal, is holding up an estimated 400 million an hour in trade, based on the approximate value of goods that are moved through the Suez every day, according to shipping data and news company Lloyds List. Lloyds values the canals westbound traffic at roughly 5.1 billion […]

Data for the year so far show signs that China is starting to crack down on debt. A firstquarter survey by the China Beige Book released Thursday found that borrowing by stateowned enterprises dropped to the lowest in the studys roughly 10year history. Overall borrowing fell to its lowest in three years, while that of […]

At a time when U.S. agencies and thousands of companies are fighting off major hacking campaigns originating in Russia and China, a different kind of cyber threat is reemerging activist hackers looking to make a political point. Three major hacks show the power of this new wave of hacktivism the exposure of AIdriven video surveillance […]

WeWork has agreed to go public through a merger with blankcheck firm BowX Acquisition Corp that values the officesharing startup at 9 billion including debt, the Wall Street Journal reported on Friday, citing people familiar with the matter. The company disclosed to prospective investors it had lost about 3.2 billion last year as part of […]

Fewer than expected Americans filed new claims for unemployment benefits last week as economic activity rebounds after weatherrelated disruptions in February, but it would likely take years for the labor market to fully recover from the pandemics scarring. Initial claims for state unemployment benefits totaled a seasonally adjusted 684,000 for the week ended March 20, […]