Insured losses from natural catastrophes topped $100 billion for the second year in a row, reinsurer Swiss Re said on Wednesday. Swiss Re SREN, +0.95% said insurance covered $132 billion worth of the $284 billion in economic damage caused by catastrophes including Hurricane Ian, hailstorms in France and floods in Australia and South Africa. That’s … Read more
NEW YORK: US stocks ended the day higher Tuesday as regional banking stocks picked up, with the embattled First Republic Bank recouping some of its losses from earlier this week.The broad-based S&P 500 rose 1.3 percent to 4,002.87, while the Dow Jones Industrial Average ended 1.0 percent higher at 32,560.60.Meanwhile, the tech-heavy Nasdaq Composite Index … Read more
Geneva: Tens of thousands of jobs could disappear in Switzerland following UBS’s emergency takeover of its troubled rival Credit Suisse, observers warned Tuesday, as unions demanded a rescue package for banking staff. The news that Switzerland’s biggest bank will, under pressure from Swiss authorities, swallow up the second-largest has sent shockwaves through the wealthy Alpine … Read more
“Post- harvest losses of onion in India are significant. Onion noticeably gets rotted and starts sprouting even in cold storage. To reduce post-harvest losses to 10-12% from prevailing 25%, we will send freshly procured onion to irradiation plants and then to cold storage,” one of the officials said. The perishable nature of onions, combined with … Read more
The bankruptcy of Silicon Valley Bank SIVB, , the nation’s 16th largest bank, has rattled global markets. SVB used short-term deposits to finance investments in long-term bonds, stocks, and mortgages — a wager that interest rates wouldn’t rise. Once the Federal Reserve started raising interest rates aggressively to slow inflation about a year ago, the … Read more
Foot Locker Inc. stock reversed premarket losses early Monday, after the sporting goods retailer’s stronger-than-expected fourth quarter weighed against weaker-than-expected guidance for the current year. The stock FL, -1.03% was last up 1.5% ahead of Monday’s open, after earlier falling more than 3%. The New York-based company posted net income of $19 million, or 20 … Read more
It wasn’t even six months ago that Saudi National Bank paid $1.5 billion for a 9.9% stake in Credit Suisse. That stake is now worth about $215 million after UBS UBS, -5.50% reportedly swooped in to acquire its fallen rival for more than $2 billion. See: UBS reportedly reaches deal to buy Credit Suisse for … Read more
Michele Gumabao soared for the Cools Smashers in the fourth set. PVL PHOTO Five-set meltdowns have been a feature in Creamline’s previous tussles with rival F2 Logistics in the Premier Volleyball League (PVL). The solution? Don’t wait for a deciding set. “[W]e’re happy to finally get one against F2,” Cool Smashers coach Sherwin Meneses said … Read more
BENGALURU: Indian shares rose on Friday, tracking the rebound in global equities after authorities took a slew of measures to support the global banking system, whetting risk appetite.The Nifty 50 index closed 0.67% higher at 17,100.05, while the S&P BSE Sensex finished 0.62% higher at 57,989.90.However, both indexes posted losses of nearly 2% for the … Read more
First Republic Bank stock tumbled another 27% in premarket trade Thursday, amid reports it’s exploring its strategic options, including a potential sale of the company. The move came as other bank stocks regained their footing after heavy losses on Wednesday. Bloomberg reported late Wednesday that San Francisco-based First Republic based bank is seeking ways to … Read more