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.
Tag: Banking
Bank of Japan Struggles to Keep Yields Low Amid Global Rate Hikes
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.
Brookfield, Societe Generale to Launch Mammoth Private Debt Fund
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.
Month of Mayhem: What’s Behind the Recent Bank Collapses?
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 Possible Government Takeover
First Republic Bank faces mounting losses from the commercial real estate sector, causing concern as it scrambles to avoid a government takeover.
Metro Bank Faces Shareholder Revolt Over Executive Pay Hikes
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 […]
Banking Crisis ‘Not Yet Over’, JPMorgan Boss Warns
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 […]
UBS to Buy Credit Suisse in $80 Billion Deal to Create European Banking Giant
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 […]
Fed Raises Rates as Banking Crisis Deepens
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 […]