Switzerland’s second largest bank Credit Suisse is seen here next to a Swiss flag in downtown Geneva. Fabrice Coffrini | AFP | Getty Images Credit Suisse is seeing a sharp reduction in client outflows, as the embattled Swiss lender progresses with its major strategic overhaul, new CEO Ulrich Koerner told CNBC on Wednesday. The bank … Read more
The Good Brigade | Digitalvision | Getty Images Consumers returned from the holiday season to find mortgage rates at their lowest point since September, and they are responding in dramatic fashion. Mortgage application volume jumped nearly 28% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average … Read more
Russian President Vladimir Putin poses as he delivers a New Year’s address to the nation at the headquarters of the Southern Military District in Rostov-on-Don on December 31, 2022. Mikhail Klimentyev | Afp | Getty Images Russian President Vladimir Putin could be ready to announce another mobilization round, as Russia looks to bolster its armed … Read more
Bank of Japan’s Kuroda: No need to further expand bond target band Bank of Japan’s governor Haruhiko Kuroda said in an afternoon press conference on Wednesday that there is no further need to expand its yield curve control range, according to a Reuters translation. “We don’t need to further expand the band around our yield … Read more
A staff member sorts medicines at a pharmacy in Huai ‘an, China on Dec. 10, 2022. CFOTO | Future Publishing | Getty Images A new antiviral pill for Covid was found to be as effective as Paxlovid at curbing mild to moderate illness among people at high risk of severe disease in a Phase 3 … Read more
It’s going to take several months for Covid to work through China, says AEI’s Scissors CNBC Television The near term will be bumpy for China, but the zero-Covid policy won’t make a comeback, analyst says CNBC International TV The geopolitical implications of China ending its zero-Covid policy CNBC Television China needs to ‘stay in front’ of COVID to … Read more
An Air China Boeing 747-8 makes its final approach landing at New York John F. Kennedy International Airport on Jan. 23, 2020. Nicolas Economou | Nurphoto | Getty Images As Covid-19 infections surge in China, the U.S. Centers for Disease Control and Prevention is considering sampling wastewater taken from international aircraft to track any emerging new variants, … Read more
Tesla’s starting to experience demand problems for the first time, says former Ford CEO CNBC Television
Yamaguchi emerging as candidate for next Bank of Japan governor: Sankei Former Bank of Japan deputy governor Hirohide Yamaguchi is emerging as a candidate to lead the central bank, Japanese local media Sankei reported, citing people familiar with the matter. Yamaguchi, who held the deputy position at the central bank until 2013, has been a … Read more
Citi’s Chronert says these three things will be a headwind for markets in 2023 CNBC Television