Goldman Sachs lowered its 2023 economic growth forecast for the euro zone on Monday, citing ongoing stress in the global banking system and an increase in economic uncertainty. The investment bank said it sees a 0.3% hit to the euro zone's real gross domestic product, reducing the growth forecast to 0.7% for 2023.
The Bank of England welcomed moves by the Swiss authorities to broker a take-over by UBS of Credit Suisse on Sunday, indicating it would support approval of the deal, and it said the British banking system was well funded. UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs in stock and assume up to 5 billion francs in losses in a merger engineered by Swiss authorities.
British finance minister Jeremy Hunt and Bank of England Governor Andrew Bailey are in regular contact this weekend over the fate of Credit Suisse Group AG, according to a source with knowledge of the matter.
TORONTO, ONTARIO, March 16, 2023 -- Aeterna Zentaris Inc. (AEZS), a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products, today announced that Pharmanovia, a global lifecycle management healthcare company, has acquired from the Company’s existing EEA and UK partner, Consilient Health, the exclusive rights and license to co...
British finance minister Jeremy hunt said on Thursday that pay negotiations with the unions representing public sector workers were making "encouraging progress," after half a million Britons walked out on strike over pay on the budget day. "Those pay negotiations are happening now.
London copper prices bounced back on Thursday from a more than two-month low in the previous session after authorities pledged liquidity support to Swiss bank Credit Suisse and consumption improved in top consumer China.
London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as regulators pledging support for Credit Suisse Group AG reassured investors, but sentiment was weak amid a U.S. banking crisis.
European currencies fell sharply on Wednesday after Credit Suisse's tumble to a new low renewed worries about the European banking sector following Silicon Valley Bank's collapse. The euro, sterling and the Swiss franc saw sharp declines against the U.S. dollar as Credit Suisse shares plummeted around 30% after its biggest investor said it could not provide any more backing.
British finance minister Jeremy Hunt set out his budget on Wednesday, seeking to snap the world's sixth-biggest economy out of its run of stagnant growth. HUNT ON THE STATE OF THE ECONOMY. "In the face of enormous challenges I report today on a British economy which is proving the doubters wrong.
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