A US bank that was teetering on the brink of collapse has been shored up after some of its rivals made deposits worth billions of dollars. In the past week, three American banks have collapsed – Silvergate Capital, Silicon Valley Bank (SVB) and Signature – sending the market into meltdownContinue Reading
Australia’s stock exchange has plunged by 1.8 per cent as fears grow about the health of the global banking sector. The Australian Securities Exchange (ASX) dropped to 6929.8 on the open. It plunged to a 10-week low as gloom spreads following the collapse of Silicon Valley Bank on Friday andContinue Reading
Shares in major investment bank Credit Suisse plunged by 26 per cent last night as the financial institution teetered on the brink. Trading in Credit Suisse – the world’s seventh largest investment bank – was suspended several times as stock plummeted, sparking a worrying ripple effect that saw shares inContinue Reading