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Switzerland’s secretive Credit Suisse rescue rocks global finance
ZURICH, March 21 (Reuters) – Days before a hastily convened press conference late on Sunday that would make the world’s front pages, Switzerland’s political elite were secretly preparing a move that would jolt the globe. While the nation’s central bank and financial regulator publicly declared that Credit Suisse was sound, behind closed doors the race was on to rescue the nation’s second-biggest bank. The chain of events, led to the erasure of one of Switzerland’s flagships, a merger backed by 260 billion Swiss francs ($280 billion) of state funds and a move that would upend global finance: favoring the bank’s shareholders to the detriment of bond investors. The events that…
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China’s ‘most comprehensive’ rescue package for property sector lifts stocks, bonds
HONG KONG, Nov 14 (Reuters) – Chinese assets stocks and bonds soared on Monday as the market cheered Beijing’s “most thorough” guidance measures aimed at boosting liquidity in the sector in its newest endeavor to stabilise a crucial pillar for the world’s next-premier economic climate. The bundle, which sources say lays out many financing actions for the funds-strapped field, was hailed by analysts as a “turning point” with 1 even describing it as the equivalent of “soaking rain following a long drought”. China’s residence sector, which accounts for a quarter of the economic climate, has struggled with defaults and stalled projects, hitting market self esteem and weighing on development. Previous…
/cloudfront-us-east-2.images.arcpublishing.com/reuters/X45VCN7DLRJ6DFCVOVWLCVE53Y.jpg "Switzerland’s secretive Credit Suisse rescue rocks global finance")
/cloudfront-us-east-2.images.arcpublishing.com/reuters/2QYIEZ6JTNJFHIKBOBTZFNNSK4.jpg "China’s ‘most comprehensive’ rescue package for property sector lifts stocks, bonds")
