The stock price of Block Inc has plummeted from the prior close of $72.65 down below $60.00 at the start of the day's trading. The stock dropped due to Hindenburg research revealing that the fund is shorting the company's stock and would soon release its research on it.
The Swiss government has enacted limits on salary bonus payments for Credit Suisse employees.
The Bank of England has once again hiked its base interest rate. Official Bank Rate has been increased from 4.00% up to 4.25%, as the market expected. In the meantime, note that seven out of the nine BOE Monetary Policy Committee members voted for the 0.25% rate hike. Two members voted to keep interest rates intact.
The CEO of Ryanair Michael O'Leary has revealed that the company is in talks with Boeing about the acquisition of new Boeing 737 jets.
United Kingdom regulators have revealed that the Broadcom's acquiring of VMware could hurt competition in the server market.
The Swiss National Bank has hiked its SNB Policy Rate from 1.00% up to 1.50%. The central bank has hiked interest rates despite the ongoing turmoil in the country's banking sector.
The First Republic Bank has reportedly developed a plan to downsize in the case of failing to raise capital.
The Chief Executive Officer of Man Group Luke Ellis has stated that over the next two year many more banks would fail just like the Silicon Valley Bank.
The United States Federal Reserve Federal Open Markets Committee has just increased the Federal Funds Rate from 4.75% up to 5.00%. The market consensus was that the Fed would hike 0.25%.
The US Treasury Secretary Janet Yellen has stated on Tuesday that further steps might be required to protect bank depositors.
The European Commission has created a new legislation draft, which would allow the sales of internal combustion engine cars beyond 2035.
The Global Head of Commodities at Goldman Sachs Jeff Currie has stated to Financial Times that he expects oil prices to increase by June.
Google has announced that it would suspend Chinese app Pinduoduo due to security concerns.
The online retailer Amazon has increased the global tech sector layoffs by firing additional 9,000 employees.
Various US Republicans have come out to opposite increasing bank deposit guarantees beyond the current $250,000 limit.
The US House Speaker McCarthy has stated the lack of US fiscal debt solving talks could jeopardize the US economy.
The government of Switzerland and the Swiss National Bank could increase its total bail out of Credit Suisse up to 260 billion CHF, which is a third of the country's GDP.
The People's Bank of China has announced that it would reduce its bank reserve requirements in an effort to boost lending and economic recovery.
The ECB banking supervisors have stated that they observe no contagion into the Euro Zone bank sector from the ongoing US and Swiss bank failures.
The Federal Deposit Insurance Corporation has deposited $40 billion in the US Treasury, reversing a previous $40 billion withdrawal, which was done during the takeover of the failed Silicon Valley Bank.
Volkswagen has announced plans to invest in mining in an effort to bring down the costs of battery cells. The company intends to meet half of the company's own demand and sell to others.
SpaceX, Boeing and Netflix are set to join the biggest US business mission to Vietnam, as the United States are set to discuss investment and trade among the two countries.
The Swiss banking group Credit Suisse has revealed that the 50 billion CHF received from the Swiss National Bank would allow the bank to continue its ongoing reforms.
The stock price of First Republic Bank has continued to decline despite the rescue deal done by JPMorgan Chase, the Federal Reserve and the US Treasury for 11 firms to deposit $30 billion at the failing bank.