The CEO of Australia and New Zealand Banking Group stated on Monday that the most recent upheaval in the international banking system had the potential to lead to a financial catastrophe, while it was too soon to forecast that one akin to the 2008 crisis would result.   The recent...

CNBC reports that between March 8 and March 15 Americans withdrew $98.4 billion from bank deposits, according to statistics from the Federal Reserve. The majority of the money taken out came from tiny institutions. March 24, the Financial Stability Oversight Council met in light of the most...

According to Kristalina Georgieva, head of the International Monetary Fund (IMF), central banks' increases in interest rates to combat inflation are resulting in greater risks to financial security. "It is obvious that there are now more dangers to financial stability. As the recent events in the...

Two of the three largest financial failures in U.S. history, as well as the acquisition of Swiss lender Credit Suisse by rival UBS Group AG in a merger facilitated by Swiss regulators, have contributed to the recent market turmoil.   Investors are concerned that if the consequences of rising...

Even while advanced nations' initiatives have reduced market stress, IMF chief Kristalina Georgieva said on Sunday that threats to financial stability have grown and urged continuous vigilance.   The managing director of the IMF reaffirmed her belief that 2023 would be another difficult...

International Business Machines announced its intention to grow in Canada, prompting the United States and Canada to announce on Friday that they will cooperate to establish a bilateral semiconductor manufacturing corridor.   The announcement was made as Canadian Prime Minister Justin...

On Friday, a sharp selloff in banking equities struck European markets as concerns about the health of the financial sector increased. The news that Credit Suisse and UBS were the subject of an American investigation only made matters worse.   The STOXX 600 index for all of Europe dropped...

According to a news release from the authority, the Bank of England increased its benchmark interest rate by 25 basis points from 4% to 4.25% at the conclusion of its March meeting, and is prepared to raise it further if inflationary pressures increase. The central bank's choice was in line with...

As the world economy prepares for a slowdown following interest rate hikes, China will account for a sizable portion of the recovery in global oil demand, according to Wood Mackenzie.   The research company claimed in a report released on Thursday that it sees China's reopening as the...