Category Archives: Weekly Recap
Credit Suisse Fallout Hits Major Banks
Written on March 20, 2023 at 5:25 am, by puprimedev
The latest and largest fall in the recent banking turmoil is embattled Swiss lender Credit Suisse. Credit Suisse Group AG bondholders suffered a historic loss of about CHF 16bn ($17.3bn) worth of risky notes when a takeover by UBS Group AG triggered a “complete write-down” of the bank’s additional tier 1 (AT1) bonds in orderContinue Reading
Chinese President Xi Jinping to Start Third Term
Written on March 13, 2023 at 2:00 am, by puprimedev
China’s roughly 3,000-member National People’s Congress is widely expected to vote in President Xi Jinping for a third term, making him the longest-reigning leader of modern China. Xi is expected to easily win the five-year term, as he did in 2018 when he received all 2,970 ballots cast, following the abolition of constitutional provisions thatContinue Reading
“Whales Eat The Krill” In Crypto Selloff
Written on February 27, 2023 at 2:57 am, by puprimedev
A report by the Bank for International Settlements (BIS) shows that retail investors lost money in cryptocurrency investments during the collapse of the Terra ecosystem and FTX last year as larger players, or “whales,” sold en masse. BIS researchers analyzed exchange data and found that many small investors lost money as larger or more sophisticatedContinue Reading
