Business

Oil prices surge after major exporters announce cuts in production

Evey Lovelace

Global oil prices on the rise again after Saudi Arabia, Iraq, and Gulf states cut outputBrent crude oil prices have spiked by more than 5%, trading above $84 a barrel…

Business

US Central Bank Raises Interest Rates, Despite Concerns Over Bank Failures

Evey Lovelace

Federal Reserve Increases Key Rate by Another 0.25 Percentage PointsThe US Federal Reserve has raised interest rates yet again, despite concerns that such a move could add to financial turmoil…

Business

Is Another Financial Crisis on the Horizon? Swiss Bank Takeover Raises Concerns

Evey Lovelace

The takeover of Credit Suisse by UBS has left Swiss banking in a state of uncertainty, leading many to question the stability of global finance.The recent news of emergency meetings,…

Business

Six Central Banks Co-ordinate to Boost Dollar Flow in Global Financial System

Evey Lovelace

Bank of England, along with five other central banks, to enhance the provision of liquidity in a "backstop" to ease strains in global funding markets.Six of the world's largest central…

Business

Credit a downfall of a Swiss banking giant

Evey Lovelace

Credit Suisse's decline causes job losses and reputational damageCredit Suisse has had a long-standing history as a major player in the Swiss financial sector, but in the past few months,…

Business

UBS Rescues Troubled Credit Suisse in Government-Backed Deal

Evey Lovelace

Swiss National Bank claims the deal will restore confidence in financial markets and manage risks to the economy.Credit Suisse has been rescued by Swiss rival UBS in a government-backed deal.…

Business

UBS in Advanced Talks to Potentially Buy Troubled Rival Credit Suisse

Evey Lovelace

Amidst Falling Shares and Financial Reporting Issues, UBS Considers AcquisitionSwitzerland's largest bank, UBS, is reportedly in advanced talks to purchase all or part of Credit Suisse, which has faced significant…

Business

US banking giants rescue at-risk regional lender

Evey Lovelace

$30bn cash injection eases investor worries over banking sector crisisEleven US banks have come to the rescue of at-risk regional lender, First Republic, which had been seen as on the…

Business

Global Banking Shares Under Pressure Following Silicon Valley Bank’s Collapse

Evey Lovelace

Regulators taking measures to contain potential fallout from SVB's collapseGlobal banking shares faced continued pressure on Tuesday due to concerns over potential fallout from the collapse of Silicon Valley Bank…

Business

Toblerone to Remove Matterhorn Mountain Peak from Packaging

Evey Lovelace

Toblerone to Remove Matterhorn Mountain Peak from PackagingThe company stated that the image of the 4,478m (14,69ft) mountain will be replaced by a more generic summit to comply with the…