Major cryptocurrencies stabilised on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar. U.S. authorities launched emergency measures on Sunday to shore up confidence in the banking system after the failure of SVB threatened […]
Applied Materials, which makes equipment to produce chips, said on Monday that its board has approved a new $10 billion share repurchase scheme, and also raised its quarterly dividend. Shares of the Santa Clara, California-based company rose more than 1% in trading before the bell. The newly approved buyback scheme adds to its previous authorization, […]
Cryptocurrency firm Circle said on Sunday all its depositors with the collapsed Silicon Valley Bank and Signature Bank will be made whole and the $3.3 billion USDC reserve deposit held at Silicon Valley Bank will be fully available when banks open Monday. Circle’s announcement comes after the U.S. administration on Sunday stepped in with series of emergency […]
Novartis said on Monday it received regulatory clearance to open a separate trading line for potentially up to 16.5 billion Swiss francs ($18.1 billion) in stock repurchases even as its ongoing $15 billion buyback programme is close to completion. At last week’s annual shareholder meeting, the company won investor authorization for up to 10 billion […]
Pfizer Inc struck a $43 billion deal for Seagen Inc to add innovative targeted therapies to its portfolio of cancer treatments as it braces for a steep fall in COVID-19 product sales and stiff competition for some top sellers. Monday’s deal, Pfizer’s biggest in a string of acquisitions following a once-in-a-lifetime cash windfall from its COVID-19 vaccine […]
Mozambique and Malawi on Monday were counting the cost of Tropical Storm Freddy, which killed more than 60 people, injured scores and left a trail of destruction as it ripped through southern Africa for the second time in a month over the weekend. Freddy is one of the strongest storms ever recorded in the southern […]
The Bank of England said on Friday that it was seeking a court order to place Silicon Valley Bank UK Limited into an insolvency procedure, after U.S. regulators took over its parent company, SVB Financial Group, earlier in the day. “SVB UK has a limited presence in the UK and no critical functions supporting the […]
Most stock markets in the Middle East ended lower on Sunday, with the Egyptian bourse leading the declines, in response to Friday’s fall in global shares over fears of contagion following the collapse of Silicon Valley Bank (SVB) (SIVB.O). The startup-focused lender became the largest bank to fail since the 2008 financial crisis on Friday, roiling global markets […]
Panama’s Maritime Authority has lifted a suspension on First Quantum Minerals’ operations at the port of Punta Rincon, which the Canadian company uses to export copper concentrate from its key Cobre Panama mine, company sources said late on Friday. Two spokespersons for Minera Panama, First Quantum’s Panama unit, told Reuters the suspension dated Jan. 26 had […]
U.S. President Joe Biden spoke with California Governor Gavin Newsom on Saturday about the Silicon Valley Bank failure and efforts to address the situation, the White House said after the bank’s collapse. A White House statement said Biden discussed with Newsom an emergency declaration he issued on Friday to ensure California has the full support […]
