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The pieces they buy are mainly imported from countries like China, making their business sensitive to the effects of potentially higher tariffs. That could mean that certain goods end up being excluded from tariffs, as was the case with tariffs Trump imposed during his first term. Companies are being proactive, tooIt’s not just individuals trying to get ahead of potentially higher tariffs, large companies are too. During Trump’s first term, when higher tariffs were levied on Chinese goods, “we were not proactive in pricing,” he said. The steps that bigger businesses are taking, or plan to take, can ultimately lessen the blow consumers face from possibly higher tariffs, Lincicome said.
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Deutsche Bank shares whipsaw after CDS blow-out
  + stars: | 2023-03-24 | by ( ) www.reuters.com   time to read: +1 min
LONDON/FRANKFURT, March 24 (Reuters) - Deutsche Bank shares (DBKGn.DE) dropped as much as 3.4% in Friday's premarket trade, after a sharp jump in the cost of insuring against the risk of default late the day before fuelled concerns about the overall stability of Europe's banks. Deutsche shares, which have lost a fifth of their value so far this month already, were last indicated up 0.9% in premarket trade on the Lang & Schwartz platform. They closed 3.2% lower on Thursday, while the bank's credit default swaps - a form of insurance for bondholders - shot up to 173 basis points from 142 bps the day before, according to data from S&P Market Intelligence on Thursday. This marks the largest one-day rise in Deutsche's CDS on record, according to Refinitiv data. Reporting by Amanda Cooper; Editing by Dhara RanasingheOur Standards: The Thomson Reuters Trust Principles.
The fresh price falls in Europe came as investors were looking to see how far U.S. authorities would go to shore up the banking sector, particularly fragile regional lenders. REUTERS/Dado Ruvic/Illustration/File Photo 1 2CDS surge on banking sector turmoilUBS CHALLENGESThe global banking sector has been shaking since the sudden collapse this month of SVB and Signature Bank. But the worries spread quickly, and on Sunday UBS (UBSG.S) was rushed into taking over Swiss rival Credit Suisse after it lost the confidence of investors. Separate sources told Reuters that UBS has promised retention packages to Credit Suisse wealth management staff in Asia to stem a talent exodus. Standard Chartered (STAN.L) Chief Executive Bill Winters said on Friday the wipeout of Credit Suisse bondholders had "profound" implications for global bank regulations.
European banks face renewed selling pressure
  + stars: | 2023-03-24 | by ( ) www.reuters.com   time to read: +8 min
So people are acting with their feet and continuing to sell bank stocks. ING ECONOMICS TEAM (emailed) "Most European banks are impacted by these events mainly via the more cautious market sentiment. "It seems like post what happened to Credit Suisse last weekend, two things might be at play here. “European banks probably suffered from contagion from what was going on in the US, where the regional banks seem to be under pressure in the rising rate environment. European banks have, in fact, had no fundamental issues whatsoever.
Ottawa last fall proposed bolstering its Investment Canada Act (ICA) to give government ministers power to block or unwind critical minerals investments if they believe such deals threaten national security. Nearly half of the world's mining companies are listed in Toronto and the city has long been a premier destination for junior mining companies to raise funds, above even rival exchanges in Sydney, New York and London. Canadian officials last fall ordered Chinese companies to sell stakes in three Toronto-listed lithium companies, two of which are developing mines outside Canada. Canada's Industry Ministry, which is spearheading the rules change, called critical minerals "key to the future prosperity of our country." However, the government's crackdown could rebound and hurt Canada as the mining industry underpins a large part of the country's economy, investors and analysts say.
MILAN, Nov 29 (Reuters) - Shares in Credit Suisse (CSGN.S) tumbled to a fresh lifetime low below 3 Swiss francs on Tuesday as investors dumped rights to subscribe to new shares in the loss-making lender. By 0937 GMT, Credit Suisse shares fell 3.3% to 2.912 Swiss francs as the subscription rights tumbled 22% to 0.112 on the second day of trading on the Swiss bourse. The capital increase, which was approved by investors on Wednesday last week, is intended to fund the embattled bank's turnaround plan, an attempt to recover from the biggest crisis in its 166-year history. Credit Suisse's five-year default swaps, a form of insurance for bondholders, blew out to a new record high of 403 basis points, according to data from S&P Market Intelligence. Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.
MILAN, Nov 29 (Reuters) - Shares in Credit Suisse (CSGN.S) tumbled to another lifetime low below 3 Swiss francs on Tuesday as investors dumped rights to subscribe to new shares in the loss-making lender. By 1036 GMT, Credit Suisse shares fell 2.6% to 2.93 francs as the rights tumbled as much as 27% to as low as 0.105 on their second day of trading on the Swiss exchange. The offering, which is guaranteed by a group of banks, will raise as much as 2.24 billion Swiss francs ($2.3 billion) and follows a 1.76 billion-franc share placement where Saudi National Bank took a 9.9% shareholding in Credit Suisse. Shareholders in Switzerland's second-biggest bank have the right to purchase two new shares at 2.52 francs each for every 7 rights they hold by December 8. ($1 = 0.9502 Swiss francs)($1 = 0.9502 Swiss francs)Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.
Shares in Credit Suisse (CSGN.S) fell 3.1% to 2.915 francs by 1451 GMT, their lowest level on record according to Refinitiv data, as the rights tumbled as much as 29.9% to as low as 0.101 on their second day of trading in Zurich. That took losses for Credit Suisse shares in 2022 to more than 65%, further shrinking its market value to 12 billion francs and firmly setting the stock for its biggest yearly drop. "The problem now for Credit Suisse is to plug the outflows of staff and client assets: the damage is done and there will be an impact for sure," said Angelo Meda, head of equities and portfolio manager at Banor SIM in Milan. Credit Suisse declined to comment. snapshotThe offering, which is guaranteed by a group of banks, will raise as much as 2.24 billion Swiss francs ($2.3 billion) and follows a 1.76 billion-franc share placement where Saudi National Bank took a 9.9% shareholding in Credit Suisse.
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