European banks battered as Credit Suisse drops over 20%

European banks battered as Credit Suisse drops over 20%

Shares in European banks got pummeled again on Wednesday, as Credit Suisse plunged to fresh record lows after the lender’s biggest shareholder said it could not raise its 10% stake citing regulatory issues. Credit Suisse fell below 2 Swiss francs ($2.18) for the first time after Saudi National Bank said it could not go above … Read more

Gold heads for worst week in 9 months after Fed blow

Gold heads for worst week in 9 months after Fed blow

Gold struggled for direction in choppy trading on Friday en route to its worst week in nine months as the resumed its rally while investors took stock of the US Federal Reserve‘s hawkish outlook. Spot gold edged 0.2% down to $1,770.60 per ounce by 10:28 a.m. EDT (1428 GMT), stalling an initial uptick on some … Read more