Good morning. Credit Suisse attempts to regain client trust, US banks seek unprecedented amounts from the Federal Reserve, and Bill Ackman expresses concern. Here are the trending topics. Credit Suisse’s $54 billion lifeline, secured on Thursday, allows the bank to rebuild its operations. However, some clients are not willing to wait and see the outcome.…
On Thursday, the European Central Bank (ECB) emerged unscathed amidst growing fears of a financial crisis. ECB President Christine Lagarde managed to strike a balance between being tough on inflation while acknowledging the need for caution amid rising financial stability risks. Lagarde’s adept handling of the situation was demonstrated by the fact that the euro,…
On Thursday, the Dow Jones Industrial Average rose by 1.2%, or 371 points, while the S&P 500 and Nasdaq Composite gained 1.8% and 2.5% respectively. This was due to reports that major Wall Street banks, including Goldman Sachs, Morgan Stanley, JPMorgan Chase, and Citigroup, were stepping in to rescue First Republic Bank, which had been…