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Added on the 16/03/2023 09:29:48 - Copyright : Euronews EN
Images of the exterior of Silicon Valley Bank’s office in California. US stocks ended Friday's session decisively lower as banking shares wobbled on contagion fears, after the failure of regional lender Silicon Valley Bank. The SVB debacle dominated investors' focus all day, with the Nasdaq suspending trade on the stock before the market opened, overshadowing a solid US jobs report. IMAGES
Put bluntly, the interest rates most brick-and-mortar banks are offering on savings account are absolute rubbish. So it makes sense to move your savings to a high-yield, online savings account. But before you jump ship, do your research about four important matters. According to Business Insider, don't just pay attention to the interest rate. That can be misleading. Check for all fees, restrictions, and features. Also, determine if the bank will limit how much money you can transfer out each day. Finally, to make life simpler, make sure the bank can do free, automated transfers to external accounts. Happy saving!
A vertically printed banknote became legal tender in the UK. It was released by Ulster Bank, one of seven banks which is able to issue sterling. Watch the video to find out people's reactions to the new note.
European banks have started reporting third quarter results amid a low interest rate environment and the threat of Brexit. As Laura Frykberg reports, Lloyds Banking Group has surprised many while Spain's Santander had to rely on Brazil to make up for weakness at home.
Deutsche Bank chief John Cryan is calling for cross-border bank mergers in Europe to help deal with the sector's fragmentation and a tight squeeze on bank profits. Laura Frykberg reports.
A small co-operative bank in the Bavarian Alps is breaking a German taboo by charging wealthy clients to deposit their money following the ECB's shift to negative rates. As Ivor Bennett reports, Raiffeisenbank Gmund will apply a custody charge of 0.4 percent to some deposit accounts.
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