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The Latest Breaking News on Financial Services

TCRB sees commercial upgrade taking one year

Thai Credit Retail Bank (TCRB) expects to take about one year to upgrade to become a commercial bank and plans to launch an initial public offering (IPO) by the end of this year.

Bangkok Post

Selling pressure set to rise this month

Trinity Securities cautioned investors to be wary of selling pressure in May, especially during the week after the general election, as the market may fluctuate ahead of the meeting of the Bank of Thailand's Monetary Policy Committee (MPC) at the end of the month.

Bangkok Post

Stock Market Today: Stocks Slide Ahead of Fed Announcement

The major indexes tumbled Tuesday as anxiety ramped up ahead of tomorrow's policy announcement from the Federal Reserve.

Kiplinger

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Fresh rout of US regional banks despite First Republic deal

New York (AFP) - Shares of US regional banks suffered deep losses on Wall Street Tuesday, dashing hopes that the resolution of First Republic's woes would end the crisis.

AFP

Bank stocks continue to fall following First Republic demise

Regulators have barely written the epitaph for First Repbulic Bank, but investors on Wall Street have already moved onto speculating which bank might be the next to fail

The Independent UK

GDX, Stock Of The Day, Shines Bright As Bank Woes, Debt-Ceiling Fears Lift Gold Price

Gold mining ETF GDX is Stock Of The Day. If past is precedent, the debt-ceiling battle may spark a breakout.

Investors Business Daily

Is the banking crisis coming to an end? As JP Morgan CEO notes, risks linger

Jamie Dimon says this phase of bank collapses is over, but ‘other cracks in the system’ could still be revealed

The Guardian - UK

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Banking Crisis: I Thought I’d Lost My House Down Payment, But Here’s Why it All Worked Out

When banks are in crisis, there are important things to remember to stay calm.

Kiplinger

PacWest Leads Regional-Bank-Stock Plunge as First Republic Sale Fails to Calm Markets

First Republic's sale to JPMorgan has yet to ease concerns over the fate of many U.S. regional banks.

The Street

Stocks slide, dollar mixed before rate calls

New York (AFP) - European and US stock markets fell Tuesday ahead of key interest rate decisions on both sides of the Atlantic this week, and worries about banks continued to haunt investors.

AFP

Regional Banks Tumble to 52-Week Lows. Here's the Chart View.

Regional banks took another leg down, to 52-week lows. Here's what the KRE ETF looks like now (and which levels matter most).

The Street

Best Of The Best: Top 3 Quality Stocks for Investors Looking for Stability

Heightened recessionary fears in the economy and the current banking sector jitters is weighing on the stock market. Hence, it could be wise for investors to buy quality stocks NuStar Energy (NS), Spirent Communications (SPMYY), and Westlake Chemical (WLKP), which pay stable dividends. Read more.

StockNews.com

Stock markets dip, dollar rises before rate calls

London (AFP) - European and US stock markets slid while the dollar mostly firmed Tuesday as focus turned to interest-rate decisions due this week in the United States and eurozone.

AFP

Full list of bank closures in Scotland as 13 more branches set to shutter

Further branch closures will be seen across six major banks in Scotland.

Daily Record

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AFP

HSBC profit rockets on rising interest rates

London (AFP) - Global banking giant HSBC reported Tuesday a surge in quarterly net profit, boosted by rising interest rates and its rescue of the UK arm of failed US lender Silicon Valley Bank.

AFP

Stock markets steadier, dollar up before rate calls

London (AFP) - Stock markets were largely steady and the dollar firmed Tuesday as focus turned to interest-rate decisions due this week in the United States and eurozone.

Wales Online

Someone tricked the taxman into handing over £500k by registering firm to someone else's home

'How does HMRC just hand out half a million pounds?' asked a judge

Evening Standard

HSBC reveals plans to rename Silicon Valley Bank UK as profits soar

HSBC boss Noel Quinn laid out a fresh vision for the development of SVB UK after it bought the beleaguered bank for £1 in March.

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AFP

Asian markets swing as investors weigh Wall Street losses

Hong Kong (AFP) - Asian equities fluctuated Tuesday as investors digested losses on Wall Street and eyed this week's interest rate decisions.

Asharq Al-Awsat

IMF Raises Asia’s Economic Forecast on China Recovery, Warns of Risks

The International Monetary Fund (IMF) raised Asia's economic forecast on Tuesday as China's recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes. The reopening of China's economy will be pivotal for the region with the spillover to Asia seen focused…

The Independent UK

Stock market today: Asia shares mixed on holiday mode trade

Asian shares are mixed with some markets closed or anticipating holidays and investors showing muted reaction to the latest U.S. banking failure

Bangkok Post

'Worst is over', Citi official says as bank looks to increase staff in Hong Kong

Citigroup, the biggest foreign lender in Hong Kong, will increase staff at its commercial banking unit in the city by 100 to tap growing opportunities in the Greater Bay Area, according to a senior executive.

Chicago Sun-Times

First Republic Bank seized, sold in fire sale to JPMorgan

In the second-largest bank failure in U.S. history, officials seize First Republic Bank, selling its deposits and most of its assets. It’s the third midsize bank to fail in two months.

AFP

Asian markets open higher as investors weigh Wall Street losses

Hong Kong (AFP) - Asian equities rose at the open on Tuesday following a holiday weekend, as investors digested losses on Wall Street after the takeover of First Republic Bank.

Bangkok Post

SVB's collapse shows Fed failure to supervise banks

The aftershocks of the collapse of Silicon Valley Bank (SVB), while seemingly fading, are still reverberating around the world. Although Federal Reserve officials have taken pains to assure the public that the US banking system is sound, it is unclear why anyone should believe them. After all, Fed Chair Jerome…

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