By Echo Wang (Reuters) – In the middle of last week, Moody’s Investors Service Inc delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was p[...]
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March 11, 2023
SVB’s lightning collapse stuns banking industry
By Pete Schroeder and Nupur Anand WASHINGTON/NEW YORK (Reuters) – The rapid unraveling of SVB Financial Group has blindsided the banking industry after years of stability. The collapse on Friday[...]
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UK plans 11 billion stg business tax break in budget – Bloomberg News
(Reuters) – British finance minister Jeremy Hunt will hand businesses a three-year tax break worth 11 billion pounds ($13.23 billion) by replacing the UK’s investment allowance with a temp[...]
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Economists warn of costs if US Medicare covers new obesity drugs
By Nancy Lapid (Reuters) – The cost of expanding U.S. Medicare prescription drug coverage to pay for expensive, new obesity medications could be catastrophic, health economists warned in a repor[...]
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India, Australia aim to boost critical mineral trade in broader deal – ministers
NEW DELHI (Reuters) – India and Australia aim to expand trade in critical mineral to help them achieve their goals on reducing carbon emissions, as they seek a broad trade pact, Indian Commerce[...]
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After Silicon Valley Bank’s shutdown, uninsured depositors face tense wait
By Pete Schroeder WASHINGTON (Reuters) – Silicon Valley Bank’s high level of uninsured deposits helped kick off the run that led to the bank’s closing down, and now any of those depo[...]
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Brazil fiscal framework to include rule to track spending, says Haddad
BRASILIA (Reuters) – Brazil’s finance chief said the government’s eagerly awaited fiscal framework would include a new rule to monitor spending but without addressing public debt, in[...]
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Wall St sinks on jitters about banks after mixed jobs report
By Sinéad Carew and Amruta Khandekar (Reuters) – Wall Street’s indexes ended down more than 1% on Friday after investors ran for the exits as they feared for the health of U.S. banks after[...]
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