Zhongzhi Enterprise Group, one of China’s largest shadow banks, has declared itself “severely insolvent” and warned of the risk of maintaining normal operations, leaving tens of billions of dollars in losses for its investors.
The Bank of Japan (BoJ) is facing mounting challenges as it tries to maintain its ultra-loose monetary policy amid a weakening yen and rising global bond yields.
The fund, named Brookfield Societe Generale Private Debt Partners (BSG PDP), will have an initial capital of $10.70 billion, making it one of the largest private debt funds in the world.
The banking sector witnessed a series of high profile collapses. How did four banks fail in quick succession and what are the effects?
First Republic Bank faces mounting losses from the commercial real estate sector, causing concern as it scrambles to avoid a government takeover.
Metro Bank, the UK’s largest challenger bank, is facing a potential shareholder rebellion over its decision to award hefty pay rises to its top executives despite posting a £271 million loss last year. The bank, which has been struggling to recover from an accounting scandal […]
In his annual letter to shareholders, the chief executive of JPMorgan Chase, one of the world’s largest banks, warned that the banking crisis triggered by the collapse of Silicon Valley Bank (SVB) and Credit Suisse is “not yet over” and could pose further risks to […]
UBS Group AG, Switzerland’s largest bank, said on Friday it had agreed to buy rival Credit Suisse Group AG for about $80 billion in a deal that would create a European banking powerhouse and end months of uncertainty over the fate of Credit Suisse. The […]
The Federal Reserve raised interest rates on Wednesday for the ninth time in a row, signaling that it was more concerned about inflation than the turmoil in the banking sector that has rattled global markets. The Fed lifted its benchmark rate by a quarter percentage […]
