Europe’s leaders battle banking crisis as market rout hangs over Brussels summit

Germany’s Chancellor Olaf Scholz said Deutsche Bank is profitable after shares dipped more than 10% during European trading. Ludovic Marin | Afp | Getty Images BRUSSELS — European leaders on Friday were keen to stress that the region’s banking sector was stable and sound following Deutsche Bank‘s sudden slide as markets opened for trade. German … Read more

China’s liaisons with Russia are fueling an awkward split among European leaders

Russian President Vladimir Putin and Chinese President Xi Jinping at the Kremlin in Moscow, Russia, March 21, 2023. Xinhua News Agency | Xinhua News Agency | Getty Images BRUSSELS — China’s relationship with Russia is causing unease and division in the European Union, with some in the bloc arguing that it’s time to rethink their … Read more

President Erdogan says Turkey will start ratifying Finland’s NATO application

Turkish President Tayyip Erdogan Murat Cetinmuhurdar | Reuters Turkey’s President Recep Tayyip Erdogan on Friday approved Finland’s accession to NATO after months of talks, but added that discussions with Sweden would continue. “We have decided to initiate the ratification of Finland’s accession process to NATO in our parliament,” Erdogan said in Ankara, according to a … Read more

European Central Bank hikes rates despite market mayhem, pledges support if needed

Christine Lagarde, president of the European Central Bank (ECB), pauses during a rates decision news conference in Frankfurt, Germany, on Thursday, March 16, 2022. Alex Kraus | Bloomberg | Getty Images The European Central Bank on Thursday announced a further rate hike of 50 basis points, signaling it is ready to supply liquidity to banks … Read more

HSBC bought Silicon Valley Bank UK in record time — here’s how events unfolded

HSBC came to the rescue of Silicon Valley Bank UK in a crucial deal for the entire banking sector. But if you had told its CEO — just a few days beforehand — that this would be happening, he would not have believed you. “I was going about my normal business on Friday. If somebody … Read more

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