The cost to borrow overnight in Hong Kong jumped the most in at least 17 years, with market watchers pointing to stress in the global financial system as well as cash hoarding by banks ahead of the Federal Reserve rate decision and the quarter-end.
Thanks to swift central bank action to stamp out financial sector troubles, the investment case for European bank shares could be set for a complete reset. One where bulls are back in charge.
UBS Group AG is more reliant for its capital on the type of risky bonds that were wiped out in the Credit Suisse Group AG takeover than any other major lender in Europe.
First Republic Bank shares rallied in US premarket trading after falling to a record low Monday, as investors ponder what’s next for the struggling midsize lender following an offer of help from JPMorgan Chase & Co.
Mercedes-Benz Group AG suffered a setback in a dispute at the European Union’s top court over its duty to compensate owners of cars equipped with illegal computer technology that overrides anti-pollution systems in order to protect components at low temperatures.
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