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SVB collapse calls for finance rethink financial: Stiglitz
SVB collapse calls for finance rethink financial: Stiglitz
by  AFP

In the wake of the collapse of Silicon Valley Bank that has shaken world markets, Nobel economics prize laureate Joseph Stiglitz told AFP that US authorities "did the right thing" to protect deposits but said the financial system needs a rethink. In this case its not a lending problem, it's a maturity mismatch and that can happen anywhere in our economic system."

Credit Suisse shares sink as top shareholder rules out more cash
Credit Suisse shares sink as top shareholder rules out more cash
by  AFP

Credit Suisse shares plunged more than 20 percent to new record lows after its main shareholder said it would not provide more financial assistance to the embattled Swiss banking giant. Credit Suisse shares were soon in freefall on the Swiss stock exchange, hitting a low of 1.71 Swiss francs just before 1100 GMT -- down 22.2 percent.

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