German Chancellor Olaf Scholz's assurance that "there is no reason to be concerned" fails to assure the financial market sending many European bank shares tumbling as the week comes to a close.
Kwon Do-hyung has been accused of fraud over his company Terraform Lab's dramatic collapse last year, which wiped out about $40 billion of investors' money and shook global crypto markets.
Hindenburg's report, which was behind a market rout of more than $100 billion in India's Adani Group earlier this year, alleges payments firm led by Twitter co-founder overstated its user numbers and understated its customer acquisition costs.
Authorities are verifying the identity of the former South Korean cryptocurrency king, who was apprehended at the Podgorica airport with forged documents.
The central bank in Zurich said inflation had risen again since the beginning of the year and stood at 3.4 percent in February.
Federal Reserve extends its year-long fight against high inflation by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen turmoil that has gripped America's banking system.
Rate hike comes as Federal Reserve Chair Jerome Powell says recent collapse of the Silicon Valley Bank is not indicative of wider weaknesses in the banking system.
The decision follows a near-endless drumbeat of layoff news in the technology sector that has seen some of the world's most valuable corporations sever ties with staggering numbers of employees they once courted in droves.
The deal follows the collapse of two large US banks last week that spurred a frantic, broad response from the US government to prevent further panic.
Russian auto manufacturer GAZ sued the German carmaker for breach of contract after Volkswagen terminated the agreement in August.
The major central banks of the world will step up so-called swap line operations, which give non-US central banks greater access to dollars.
Under the terms of the all-share deal, Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held for a total consideration of 3 billion francs.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2023 TRT World.
Like
Follow