Credit Suisse announced it will be borrowing up to 50 billion Swiss francs, about $53.68 billion, from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
Category Archives: business
Former Wells Fargo executive to plead guilty to charge in sales scandal
The former head of Wells Fargo’s retail bank is facing prison time after agreeing to plead guilty to obstructing a bank examination in relation to the sweeping phony accounts scandal that roiled the bank in 2016.
Chinese billionaire and associate of Steve Bannon arrested in $1 billion fraud conspiracy, officials say
Exiled Chinese billionaire Guo Wengui, an associate of former Trump White House adviser Steve Bannon, was arrested by federal authorities in New York on Wednesday morning, accused of orchestrating a $1 billion fraud scheme, prosecutors announced.
FAA holds emergency summit following several alarming air travel incursions
The FAA held a rare emergency summit following a recent rise in runway incursions. NBC News’ Gabe Gutierrez sat down one-on-one with NTSB chair Jennifer Homendy to discuss the current state of airline safety.
Accusations of hypocrisy and threats of legal action cloud tech industry after SVB collapse
After Silicon Valley Bank (SVB) collapsed, the tech industry got what it wanted when the government committed to back the bank’s depositors. But at what price?
Buttigieg says the U.S. should heed 'warning signs' to avoid a 'catastrophic event' in the skies
U.S. Transportation Secretary Pete Buttigieg said the country’s air system was skirting disaster in the wake of multiple near-miss plane incidents in the past year.
New Silicon Valley Bank CEO tells employees: 'We are open for business'
The new CEO of Silicon Valley Bank held an all-hands meeting on Wednesday and sought to reassure employees that the bank was not planning on closing its doors, according to two people who listened in on the call.
Honda recalling 500,000 vehicles to fix seat belts that may not latch properly
Honda is recalling a half-million vehicles in the U.S. and Canada because the front seat belts may not latch properly.
Troubles at Credit Suisse prompt broader market selloff
Troubles at the Swiss banking giant Credit Suisse spooked markets Wednesday, causing bank stocks to sell off after regaining some ground Tuesday.
Ron DeSantis hit with an ethics complaint from Trump super PAC
The primary pro-Donald Trump super PAC is filing an ethics complaint against Florida Gov. Ron DeSantis, accusing him of violating state ethics and election laws.