Oil jumps as OPEC and its allies announce a surprise output cut
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Oil prices surged 8% after OPEC+’s surprise output cut. CNBC’s Dan Murphy and Hadley Gamble report.
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UAE’s ruler breaks with tradition and appoints his son as crown prince
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UAE President Sheikh Mohammed bin Zayed al-Nahyan passed over his brothers, promoting them to senior roles and effectively pushed them out of the succession. CNBC’s Hadley Gamble reports.
May be seeing a ‘coordinated attempt to stifle crypto innovation’: Token Bay
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Lucy Gazmararian from Token Bay Capital says the Hindenburg report on Block is “damaging”, and could be seen as part of a coordinated attempt to slow down crypto innovation in the U.S..
Crypto industry frustrated by SEC’s enforcement actions
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The U.S. Securities and Exchange Commission issued a Wells Notice to Coinbase warning the company that it identified potential violations of U.S. securities law. The SEC has become even more aggressive in its enforcement action against crypto companies after the collapse of FTX. The crypto industry is frustrated by the SEC, CNBC’s Arjun Kharpal reports.
UBS agrees to buy rival Credit Suisse in a $3.2 billion deal
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UBS agrees to buy rival Credit Suisse, acknowledging it would absorb around $5 billion in losses. CNBC’s Geoff Cutmore reports from Zurich.
David Roche says a ‘fault’ of the European Central Bank is that it looks backward
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David Roche, president of Independent Strategy, discusses the European Central Bank’s decision to hike interest rates by 50 basis points.
Saudi National Bank chairman: There has been no discussion on providing assistance to Credit Suisse
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Ammar Al Khudairy, chairman of Saudi National Bank, says its message hasn’t changed since October.
Panic over Credit Suisse is ‘unwarranted,’ Saudi National Bank chairman says
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Ammar Al Khudairy, chairman of Credit Suisse’s largest shareholder Saudi National Bank, discusses the fragility and panic of the “entire market.”
Saudi investments into Iran could happen ‘very quickly,’ Saudi finance minister
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Saudi Finance Minister Mohammed Al Jadaan discusses the restoration of diplomatic ties between Saudi Arabia and Iran.
Silicon Valley Bank’s collapse a ‘warning signal’ to banking system: Credit Suisse chairman
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Axel Lehmann of Credit Suisse says Silicon Valley Bank and others weren’t subject to stringent regulations, which isn’t the case in other parts of the world, such as Europe.