Featured

MANY of the companies that make up the UK’s burgeoning payments scene lack proper controls and some pose an “unacceptable risk” to customers and the integrity of the financial system, according to the markets watchdog.

WESTERN visitors returning to China for face-to-face meetings – as the Official Monetary and Financial Institutions Forum (OMFIF) did last week – will find a country as keen to attract outside investment as it is to develop a self-sufficient financial and technological ecosystem. Hong Kong’s role in this complex...

WESTERN visitors returning to China for face-to-face meetings – as the Official Monetary and Financial Institutions Forum (OMFIF) did last week – will find a country as keen to attract outside investment as it is to develop a self-sufficient financial and technological ecosystem. Hong Kong’s role in this complex...

AS SILICON Valley Bank (SVB) Financial Group wrestled with a capital shortfall and the prospect of a downgrade to its credit rating last week, it went to Goldman Sachs Group and worked out an unusual two-part plan, according to people familiar with the discussions.

A NET US$3 billion was redeemed from USD Coin, crypto’s second-largest stablecoin, from Monday (Mar 13) morning through Wednesday in the aftermath of US banking turmoil that buffeted issuer Circle Internet Financial.

CHINA’S short-term borrowing costs are climbing back toward a two-year-high, fuelling expectations the central bank will respond with increased cash injections amid global market volatility and difficulties in domestic bond trading.

OFFICIALS from the US audit watchdog will start a new round of inspections in Hong Kong on Chinese companies’ auditors as soon as next week, sources said, as part of a deal with Beijing to prevent delistings of the firms from the New York bourse.

CREDIT Suisse shares soared by at least 30 per cent in premarket trading on Thursday (Mar 16) after the company secured a US$54 billion lifeline from the Swiss National Bank to shore up liquidity and investor confidence that sent its stock to record lows the day before.

CREDIT Suisse Group shares surged as much as 40 per cent after Switzerland’s central bank stepped in to support the lender, triggering a rally in bank stocks across Europe on easing investor concern that the firm’s troubles would trigger a global banking crisis.

CREDIT Suisse shares jumped over 20 per cent on Thursday (Mar 16) after the company secured a lifeline from the Swiss central bank to shore up investor confidence, though some analysts said the market relief could be shortlived.