Month: April 2023

By Julia Horowitz, CNN Last month, the collapse of Silicon Valley Bank, the second-largest bank failure in US history, unleashed broader panic and raised fears the global financial system would seize up. Now, central banks are signaling that their immediate concerns have eased. The Bank of England, the Bank of Japan, the European Central Bank

By Nicole Goodkind, CNN Warnings of recession are widespread, inflation is still elevated and so are interest rates. Russia continues to wage war in Ukraine and markets are whipsawing around as investors try to make sense of it all. In short: The global macroeconomic picture is bleak. In spite of it all, dealmaking on Wall

By David Goldman, CNN 3M announced significant layoffs Tuesday as part of yet another major restructuring plan as the manufacturing sector prepares for a possible recession and slumping demand for goods. The manufacturing behemoth behind some consumer brands, including Post-It Notes and Scotch Tape, said it would lay off 6,000 staff around the world. Those

By Hanna Ziady, CNN UBS is still dealing with the fallout from the 2008 global financial crisis even as it prepares to take on the enormous challenge of absorbing Credit Suisse. Switzerland’s biggest lender said Tuesday it had set aside $665 million to cover litigation costs relating to past sales of US mortgage-backed securities, halving