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WASHINGTON, March 22 (Reuters) - China is "very carefully" watching how Washington and the world respond to Russia's invasion of Ukraine, but has not yet crossed the line of providing lethal aid to Moscow, U.S. Secretary of State Antony Blinken said on Wednesday. "The stakes in Ukraine go well beyond Ukraine. However, he said he did not believe that China has been providing lethal aid to Moscow. "As we speak today, we have not seen them cross that line," Blinken told a Senate Appropriations subcommittee hearing, the first of four times he will testify to congressional committees this week. "The post-Cold War world is over, and there is an intense competition under way to determine what comes next," Blinken said.

☆ Elizabeth Warren demands Fed crackdown on large regional banks
▼ + stars: | 2023-03-22 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Senator Elizabeth Warren is cranking up the pressure on the Federal Reserve following the collapse of Silicon Valley Bank. Both Silicon Valley Bank and Signature Bank fit into that asset threshold when they failed earlier this month. The bipartisan 2018 rollback of Dodd-Frank freed large regional banks in that range of assets from the toughest oversight. Notably, the letter was signed by Senator Angus King, the Maine independent who voted in favor of the 2018 rollback. Days after the bank failures, the Federal Reserve launched a review of the regulation and oversight of Silicon Valley Bank.

WASHINGTON, March 22 (Reuters) - The United States is "actively" working on re-establishing a diplomatic presence in Libya, U.S. Secretary of State Antony Blinken said on Wednesday, although he declined to provide an exact time on when the U.S. embassy can be reopened. U.S. Special Envoy for Libya, Richard Norland, has operated out of the Tunisian capital, and took occasional trips into Libya. "I can't give you a timetable other than to say that this is something we're very actively working on. I want to see us be able to re-establish an ongoing presence in Libya," Blinken said at a Senate Appropriations subcommittee hearing. The United Nations' special envoy for Libya last month moved to take charge of a stalled political process to enable elections that are seen as the path to resolving years of conflict.

WASHINGTON, March 21 (Reuters) - The Republican chairman of the U.S. House of Representatives Foreign Affairs Committee threatened to issue a subpoena if the State Department does not produce documents it has requested related to the August 2021 U.S. withdrawal from Afghanistan, the committee said on Tuesday. Representative Michael McCaul sent a letter to Secretary of State Antony Blinken requesting the information before Blinken's testimony to the committee on Thursday. Blinken is due to testify to congressional committees in both the Senate and House this week. Republicans have launched a series of investigations of Democratic President Joe Biden's administration since they took control of the House in January. Reporting by Patricia Zengerle, additional reporting by Simon Lewis; editing by Jonathan Oatis and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ How the FDIC Protects Consumers When Banks Fail
▼ + stars: | 2023-03-21 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

UBS Agrees to Buy Credit Suisse for $3 Billion: What’s Next Swiss bank UBS agreed to take over its longtime rival Credit Suisse as authorities seek to halt a dangerous decline in confidence in the global banking system. WSJ’s Patricia Kowsmann explains how the deal unfolded and what might come next. Photo: Hannah McKay/Reuters

Since then, critics say those schemes have come back to bite the economy by ramping up competition for scarce housing - fuelling inflation and piling pressure particularly onto young, local, entry-level workers. Rents in Lisbon have jumped 65% since 2015 and sale prices have sky-rocketed 137%, figures from Confidencial Imobiliario, which collects data on housing, show. Locals struggled to keep up in a country where public housing only represents 2% of the property market, according to government data. The average rent for a one-bedroom flat in Lisbon is around 1,350 euros, a study by housing portal Imovirtual showed. "If housing stays this expensive or gets worse, (foreign) people ... will start moving back to their own countries."

☆ Rupert Murdoch, 92, is getting married for the 5th time. He says he's 'looking forward to spending the second half' of his life with his fiancée.
▼ + stars: | 2023-03-21 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Media mogul Rupert Murdoch is getting married for the fifth time, at the age of 92. The New York Post is one of the many publications that the Australian-born American billionaire owns. Murdoch married Hall in 2016. Murdoch told Adams that he was "very nervous" about falling in love again. Murdoch's media empire includes publications like The Wall Street Journal, Fox Corp, the New York Post, HarperCollins publishers, and more.

☆ How the FDIC Acts When Banks Fail
▼ + stars: | 2023-03-20 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ What’s Next for UBS After Buying Credit Suisse in Whirlwind Rescue
▼ + stars: | 2023-03-20 | by ( Margot Patrick | Patricia Kowsmann | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/whats-next-for-ubs-after-its-whirlwind-rescue-of-credit-suisse-f09b1445

☆ Rupert Murdoch is engaged to Ann Lesley Smith
▼ + stars: | 2023-03-20 | by ( Toyin Owoseje | ) edition.cnn.com time to read: +1 min

CNN —Billionaire media mogul Rupert Murdoch is preparing to walk down the aisle for the fifth time. The 92-year-old tycoon revealed he’s engaged to marry Ann Lesley Smith in an article published Monday in the New York Post, one of his own publications. Smith was previously married to Chester Smith, a country singer and radio and TV executive, who died in 2008. Murdoch was previously married to former flight attendant Patricia Booker, journalist Anna Murdoch and entrepreneur Wendi Deng. CNN has reached out to representatives of Murdoch and Smith for further comment.

☆ First Republic shares tumble to a new low
▼ + stars: | 2023-03-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

Shares were halted several times for volatility, and they sank further after a report from the Wall Street Journal said rival banks led by JPMorgan (JPM) are trying to work on yet another rescue plan for First Republic. First Republic declined to comment on the report. Thursday’s government-arranged deal amounted to a big cash deposit that would allow First Republic to meet customers’ demands for withdrawals. What’s more, Thursday’s $30 billion infusion didn’t increase First Republic Bank’s capital — the safety cushion funds that banks use to absorb losses — “so that’s a separate weakness that we need to keep our eyes on,” said McCoy, who helped establish the Consumer Financial Protection Bureau. McCoy added that there’s “every reason to think that the capital has shrunk,” given First Republic’s heavy paper losses on its bond portfolio.

WASHINGTON, March 20 (Reuters) - U.S. President Joe Biden on Monday signed a bill that requires declassification of information related to the origins of the coronavirus that causes COVID-19, the White House said. Biden said he shared Congress' goal of releasing as much information as possible about the origin of COVID-19. The bill sailed through the Senate and House of Representatives without opposition before being sent to the White House. The FBI has also assessed that the pandemic likely originated from a lab leak. China said claims that a laboratory leak likely caused the pandemic have no credibility.

☆ World’s top climate scientists issue ‘survival guide for humanity,’ call for major course correction
▼ + stars: | 2023-03-20 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The 1.5 degrees Celsius temperature threshold is widely recognized as crucial because so-called tipping points become more likely beyond this level. In short, our world needs climate action on all fronts — everything, everywhere, all at once. But it will take a quantum leap in climate action." He added, "In short, our world needs climate action on all fronts — everything, everywhere, all at once." "Climate justice is crucial because those who have contributed least to climate change are being disproportionately affected," said Aditi Mukherji, one of the 93 authors of this Synthesis Report.

☆ Meet UBS CEO Ralph Hamers, a leader behind Credit Suisse negotiations who opts for open-necked shirts and wants to build 'Netflix of wealth'
▼ + stars: | 2023-03-19 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

UBS CEO Ralph Hamers is a key figure in negotiations to buy Credit Suisse and prevent its collapse. The 56-year-old exec has worked in Swiss banking for more than three decades and is a proponent of digital innovation. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking — delivered daily to your inbox. ING ultimately was slapped with a nearly $900 million fine for not adequately preventing financial crime, according to BBC News. At the time, he said the bank took "full responsibility" and its failure to follow policy was "unacceptable," BBC News reported.

☆ Price hikes are double whammy for pet owners who are crushed by inflation
▼ + stars: | 2023-03-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —As head of PAWS Atlanta, Joe Labriola can get a good sense of the region’s economic well-being from the day-to-day activity of the city’s oldest no-kill animal shelter. And the shelves at PAWS Atlanta’s Pet Food Pantry quickly go bare. She said her pet food costs for Lola, her Australian Shepherd mix, and for Phoebe, her Golden Retriever, have doubled to $250 per month. Josh Fiala, Animal Rescue League of Iowa's Pet Support Services Manager, helps load pet food into a vehicle during a Pet Food Pantry in January 2022. Courtesy Animal Rescue League of IowaARL gave out about 40,000 pounds of pet food in both 2020 and 2021.

☆ EasyJet cabin staff in Portugal plan early April strike over pay
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

LISBON, March 17 (Reuters) - EasyJet (EZJ.L) cabin staff in Portugal will go on a three-day strike in early April to demand higher wages to compensate for the soaring cost of living, the SNPVAC union of civil aviation flight personnel said on Friday. Workers at the British low-cost airline, who also seek better working conditions, are planning to walk out between April 1-3. "Due to the economic climate, easyJet workers have lost purchasing power over the last three years," SNPVAC said in a statement. "The increase in the cost of living suffocates workers and jeopardises the well-being and comfort of their families." Reporting by Patricia Vicente Rua; Editing by Andrei Khalip and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

"Jamie Dimon knew in 2008 that his billionaire client was a sex trafficker," attorney Mimi Liu told Manhattan U.S. District Judge Jed Rakoff at a hearing late Thursday, referring to the year Epstein was first criminally charged with sex crimes. "If Staley is a rogue employee, why isn't Jamie Dimon?" The lawyer continued: "Staley knew, Dimon knew, JPMorgan Chase knew" about Epstein's criminal conduct. Simon Dawson | Bloomberg | Getty ImagesA lawyer for JPMorgan disputed those arguments, "in particular the point about Jamie Dimon having any specific knowledge." Wexler also said, "Jamie Dimon has no recollection of reviewing the Epstein accounts."

☆ How First Republic became such a hot mess
▼ + stars: | 2023-03-17 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

“It’s the biggest example of a bank that could go down and shouldn’t go down — a first-class bank,” said a source close to the 48-hour deal to infuse First Republic with $30 billion in cash. San Francisco-based First Republic, the 14th-largest bank in the country, received the cash infusion from 11 rivals, including America’s largest lenders. When JPMorgan Chase CEO Jamie Dimon on Thursday reached out to Treasury Secretary Janet Yellen and Federal Reserve Board Chair Jerome Powell, “Very quickly the conversation turned to First Republic,” the source told CNN. Its rescuers are also struggling, with JPMorgan Chase (JPM) down 3% and Bank of America (BAC) falling 4%. Investors saw similarities between First Republic and the failed Silicon Valley Bank — another midsize Bay Area-based lender with a deep-pocketed client base.

☆ Want to invest in companies that empower women? Here's what you need to know
▼ + stars: | 2023-03-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Known as gender lens or gender equity investing, the idea is to invest for financial return, while promoting gender diversity. Yet those funds represent less than 0.01% of total equity fund assets in the United States, according to the firm. Her women CEO and CFO clients were getting tremendous results, she said. In January, the asset management firm launched the Hypatia Women CEO exchange-traded fund (WCEO). Women in leadership matters, but we need a more robust scorecard to assess gender equity.

☆ Credit Suisse Stock Price Jumps as Bank Secures $50 Billion Lifeline
▼ + stars: | 2023-03-16 | by ( Margot Patrick | Patricia Kowsmann | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/credit-suisse-stock-price-jumps-as-bank-secures-50-billion-lifeline-9f5a35b9

Credit Suisse Group AG said it would borrow up to 50 billion Swiss francs, equivalent to $53.7 billion, from the Swiss central bank to shore up its liquidity, capping a day in which fears about the health of global banks leapfrogged to Europe from North America and the giant lender’s shares dropped as much as 24%. The bank also said it would repurchase $3 billion worth of senior debt whose value has plunged along with the perceived health of banks on both sides of the Atlantic. The Zurich firm stressed in a press release issued in the evening in New York that it was intent on simplifying its structure and better serving customers.

☆ No White House visit for Israel's Netanyahu as US concern rises
▼ + stars: | 2023-03-16 | by ( Simon Lewis | ) www.reuters.com time to read: +5 min

WASHINGTON, March 16 (Reuters) - Eleven weeks into his third stint as Israel's prime minister, Benjamin Netanyahu has yet to be received at the White House, signaling apparent U.S. unhappiness over the policies of his right-wing government. The White House declined to confirm Netanyahu has yet to be invited. A State Department spokesperson referred Reuters to the Israeli government for information about the prime minister's travel plans. The United States has long been Israel’s main benefactor, sending more than $3 billion each year in military assistance. Baker later banned Netanyahu, at the time a deputy minister of foreign affairs, from the State Department after he criticized U.S. policy toward Israel.

[1/2] Saudi Crown Prince Mohammed bin Salman attends an Arab summit with U.S. President Joe Biden (not seen), in Jeddah, Saudi Arabia, July 16, 2022. If the resolution passes, the administration must submit the report within 30 days, or all security assistance to the country automatically stops. After the report is received, the act stipulates that Congress may adopt a joint resolution terminating, restricting or continuing security assistance to that country. Aides said it was too soon to assess how the resolution would be received, but they hoped it would trigger a broader conversation about human rights. Murphy, long a vocal critic of the conflict in Yemen and Riyadh's record on human rights, praised Biden for being willing to reassess ties.

WASHINGTON, March 15 (Reuters) - Forty of the 100 U.S. senators co-sponsored a resolution on Wednesday urging a strong U.S. government response to any Chinese efforts to clamp down on dissent in Hong Kong, including the use of sanctions and other tools. The resolution is non-binding, but is intended to convey a strong sense that lawmakers are closely watching events in China and will respond. China imposed a national security law on Hong Kong in 2020 outlawing acts including subversion with up to life in prison. The law has been criticized by some Western governments as a tool to crush dissent, but the Chinese and Hong Kong governments say it has restored stability to the city after protracted pro-democracy protests in 2019. Reporting by Patricia Zengerle; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Credit Suisse Group AG shares fell more than 25% Wednesday and hit a fresh record low, reflecting increasing concerns that troubles that hit regional U.S. banks have migrated across the Atlantic. Other major European banks took hits, with shares in France’s two major international banks, Société Générale SA and BNP Paribas SA, both down more than 10%. Shares in Germany’s Deutsche Bank AG slid 8%.

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