Banking stocks drove European markets lower on Monday as global investors weighed the consequences of the collapse of Silicon Valley Bank (SVB). The US lender imploded last week and had its assets seized after a bank run caused its stock to plummet.
The pan-European Stoxx 600 index dropped 2.56% at 13:00 GMT, with all major stocks trading in the red. Bank stocks slumped more than 6%, with Commerzbank, BAWAG Group, and Banco BPM among the biggest losers. Credit Suisse plunged 15% in early trading and UniCredit lost 9%, while Deutsche Bank and Raiffeisen Bank both declined by 7%.
The meltdown came despite the news that Britain’s HSBC, which is one of the world’s biggest banks and boasts $2.9 trillion in assets, has agreed to rescue the UK branch of SVB for a symbolic £1, vowing to protect client deposits as part of the deal. Following the announcement, HSBC saw its shares drop 3.5%.
“We’re seeing a liquidity withdrawal – the classic thing that you’d expect following a credit event like what’s happening at SVB. People get scared, reduce exposure to equities and move into government bonds,” Haig Bathgate, head of investments at Atomos, told Bloomberg.
https://www.rt.com/business/572907-us-banking-crisis-european-stocks/
While trafficking young girls, he was also part of an effort to export military-grade systems to governments around the world
Rachel Marsden
By Rachel Marsden, a columnist, political strategist, and host of independently produced talk-shows in French and English.
rachelmarsden.com
When I first moved to New York, I walked into my new dentist’s office and genuinely wondered whether I’d accidentally wandered into a Victoria’s Secret audition.
The waiting room was full of stunning young women. Eventually I learned the dentist shared space with a modeling agency. You couldn’t tell who was getting veneers and who was getting a contract until you were halfway down the hallway.
Jeffrey Epstein’s life operated on the same architectural principle: two businesses shoved into one building, one involving underaged girls, the other involving powerful political figures, including some tied to the Israeli government. Not exactly whitening trays and catwalks, but equally disorienting.
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The bloc wants to use the funds to back a “reparation loan” to Ukraine
US officials want the EU to return Russia’s frozen assets once it signs a peace deal with Ukraine, contradicting the bloc's plans to use them to finance Kiev, Politico reported on Tuesday, citing diplomats.
EU leaders want to issue a €140 billion ($160 billion) “reparations loan” to Kiev using frozen Russian funds as collateral, despite opposition from bloc member Belgium, which has repeatedly warned that the scheme carries financial and legal risks.
According to the outlet, American officials told the EU’s sanctions envoy, David O’Sullivan, during a visit to Washington this summer that they planned to return Russia’s frozen assets after a peace treaty is concluded.
Under the purported US 28-point peace plan leaked to media in November, $100 billion in frozen Russian assets would be invested in American-led “efforts to rebuild.....more below
Paris has authorized the use of private military companies to provide assistance to third countries, the SVR noted
France is still exploring ways to directly involve itself in the Ukraine conflict, Russia’s Foreign Intelligence Service (SVR) has said, citing a new government decree that authorizes the use of private military companies to assist foreign states engaged in armed conflict.
The agency claimed there is little ambiguity about which country France has in mind, given its sustained backing of Kiev. It argued that Ukraine’s mobile air-defense units and limited Western aircraft cannot fully counter Russian strikes, and that operating French-made Mirage fighter jets and other advanced systems requires expertise Ukraine does not possess.
The SVR stressed that the presence of French private military companies in Ukraine under the guise of “reference operators” would be regarded by Moscow as direct engagement by Paris in hostilities. It has also warned that such personnel ...
