Sat.Mar 18, 2023

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Bank runs, bailouts, rescues: are the ghosts of 2008 rising again?

TheGuardian

The travails of Credit Suisse and others have stirred up bad memories for a public still scarred by the financial crisis No one in the Treasury had expected March to be easy. Last Monday’s economics-heavy review of defence and foreign policy, and last Wednesday’s budget, meant that a tough week for its mandarins was already priced in. But none of them had expected to have to sell a bank for £1.

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UBS in talks to acquire Credit Suisse | BlackRock interested in tokenizing stocks, bonds | Microsoft adds OpenAI technology to Word and Excel

Bussman Advisory

FinTech Ecosystem Insights by Bussmann Advisory is our weekly newsletter with over 49’000 subscribers across different social media channels, summarizing relevant news and reports related to ecosystems around disruptive technologies, highlighting key updates from the industry as well as our portfolio companies: UBS in talks to acquire Credit Suisse BlackRock interested in tokenizing stocks, bonds Microsoft adds OpenAI technology to Word and Excel More information on www.bussmannadvisory.co

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Millions paid in bonuses to UK Silicon Valley Bank staff days after £1 rescue

TheGuardian

Workers reported to have received payouts from ‘modest’ pool of £15m-£20m following takeover deal by HSBC The UK arm of the collapsed Silicon Valley Bank is reported to have paid millions of pounds in bonuses days after it was sold in a rescue deal for £1. Staff at Silicon Valley Bank UK (SVB UK) are said to have been given payouts from what has been described as a “modest” bonus pool of between £15m and £20m.

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Midsize US banks ask FDIC to insure deposits for two years

American Banker

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Interest rate rises in doubt as fear of new global crisis rattles central banks

TheGuardian

Concern about trouble in finance sector, plus renewed momentum in UK economy, could halt rises City analysts thought were a certainty In 2006 the US central bank completed a series of interest rate rises that took its base rate from 1% to 5.25%. The plan was to cool a booming economy, but ended two years later with the great financial crash. Earlier this month, the Federal Reserve was expected to push ahead with a 0.25 percentage point rise from its current range of 4.5% to 4.75% , this time to

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