Credit Suisse shares fall 26% to record low

BlackRock ranks among Credit Suisse’s top shareholders, along with Harris Associates LP and wealthy Middle Eastern investors, including the Qatar Investment Authority and Saudi Arabia’s Olayan Group.

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Blackrock Falls? American Risk Management Behemoth Has Over 160mn Shares in Crisis-Hit Credit Suisse

Credit Suisse shares tanked nearly 30% Wednesday as part of the Silicon Valley Bank fallout with the chairman of the Saudi National Bank – which owns 9.8% of the embattled Swiss lender – appearing to rule out any further funding.

Credit Suisse has been hit by a series of missteps and compliance failures in recent years – customers withdrawing a whopping $133bn from the bank last year, with the majority in the fourth quarter.

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⚡️EU to Send Next Tranche of Macro-Financial Aid to Ukraine Worth €1.5bn Next Week

Brussels has allocated up to 18 billion euros for Kiev in 2023.

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❌ YouTube Lifts Ban on Donald Trump's Account

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Twitter Glitches... Again

Outages and issues with the search bar have been flagged up on Downdetector.

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Credit Suisse Crash: Western Bond Market Under Threat after Swiss Bank Rescue

Credit Suisse was forced to write down to zero an eye-watering $17bn of its Additional Tier 1 bonds, while shareholders will receive payouts as part of the govt-brokered UBS takeover.

AT1 bonds were introduced after the 2008 financial crisis, to increase banks’ safety buffers, while tackling the “too big to fail” risk that they might need govt support in a crisis.

The move has triggered renewed pressure on the global banking system - usually, equity investments would be classed as secondary to AT1 bonds - with investors scrambling to assess whether the same could happen for their holdings of AT1 debt in other banks - a market worth more than $275bn.

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Meta call Saul? Facebook Content Moderators in Kenya to Sue Zuckerberg

The social media giant is facing court over "illegally" firing moderators in the African nation.

43 people have claimed they lost their jobs with Sama - a company that Meta outsourced to - and were denied applying to a similar firm used by FB after they attempted to create a union.

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UK to send depleted uranium rounds with tanks to Ukraine

According to estimates, it has roughly the 4th largest stockpile in the world. Behind the US, Russia and France.

https://declassifieduk.org/britain-supplying-depleted-uranium-rounds-to-ukraine/

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📹 Russian Jet Scrambles as Two US Bombers Fly Over Baltic Sea - the Russian jet returned to base on Monday after the aircraft veered away from the border

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102.5% Inflation: Historic Drought Dries Up Argentina's Dollar Reserves

The Latin American nation's dollars are being drained rapidly as Buenos Aires attempts to prop up its peso currency.

Traders have sold off $1.2 billion in March alone, as Argentina is hit with severe drought - impacting on exports of soy and corn.

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London Stocks Drop as 🔥 UK Inflation Data Sparks Rate-Hike Fears

UK inflation accelerated unexpectedly to 10.4% in February, adding to expectations that the Bank of England will raise interest rates again at its meeting Thursday.

London's exporter-heavy FTSE 100 fell Wednesday on the back of the consumer price surge triggered by soaring food prices – up a staggering 18% YoY February, the UK’s highest rate in 45 years.

The prospect of further rate hikes by the BoE had been dialled back after the SVB/Credit Suisse fallout but a 25-basis-point rise – at least – is now anticipated.

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