Switzerland’s second largest bank Credit Suisse is seen here next to a Swiss flag in downtown Geneva. Fabrice Coffrini | AFP | Getty Images Credit Suisse on Wednesday projected a 1.5 billion Swiss franc ($1.6 billion) fourth-quarter loss as it undertakes a massive strategic overhaul. The embattled lender last month announced a raft of measures
Finance
In this photo illustration, a bitcoin logo seen displayed on a smartphone with a FTX logo on the background. Avishek Das | Lightrocket | Getty Images FTX’s vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The
Cleveland Federal Reserve President Loretta Mester said Monday inflation will need to show more signs of progress before she’s ready to stop advocating for interest rate increases. While acknowledging that recent data has been encouraging, the central bank official told CNBC that the progress is only a start. “We’re going to have more work to
FTX filed for bankruptcy in the U.S. on Nov. 11, 2022, seeking court protection as it looks for a way to return money to users. Jonathan Raa | Nurphoto | Getty Images Embattled cryptocurrency exchange FTX owes its creditors north of $3 billion, according to a new filing over the weekend. A list of FTX’s
China’s housing prices fell in October due primarily to falling prices in less developed, so-called Tier-3 cities, according to Goldman Sachs analysis of official data. Future Publishing | Future Publishing | Getty Images BEIJING — China’s real estate sector isn’t yet poised for a quick recovery, despite a rally this month in stocks of major
Doug Leone, managing partner at Sequoia Capital LLC, speaks during the Bridge Forum conference in San Francisco, California, U.S., on Wednesday, April 17, 2019. The event brings together leaders in finance and technology from Asia and Silicon Valley to connect and share insights. David Paul Morris | Bloomberg | Getty Images HELSINKI, Finland — Billionaire
In this article XRP.CM= Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration of the ripple cryptocurrency ‘altcoin’ sits arranged for a photograph on April 25, 2018 in London, England. Jack Taylor | Getty Images News | Getty Images U.S.-based crypto company Ripple no longer derives most of its income from America and is
Prime Minister Rishi Sunak (C), alongside the Chancellor of the Exchequer, Jeremy Hunt, (centre right) holds his first Cabinet meeting on October 26, 2022 in London, England. WPA Pool | Getty Images LONDON — As the U.K. government announces a £55 billion ($65.5 billion) program of tax hikes and spending cuts, the country faces its
Susan Collins, Boston Federal Reserve Source: Federal Reserve Bank of Boston Boston Federal Reserve President Susan Collins expressed confidence Friday that policymakers can tame inflation without doing too much damage to employment. “By raising rates, we are aiming to slow the economy and bring labor demand into better balance with supply,” Collins said in prepared
Alibaba broke tradition by not releasing total sales for its Singles’ Day shopping festival this year. Pictured here are advertisements for the festival in a Shanghai subway station on Nov. 10, 2022. Bloomberg | Bloomberg | Getty Images BEIJING — China’s Covid controls disrupted Alibaba‘s ability to deliver packages, the company said, dragging down the