Switzerland’s largest financial holding company, UBS, may absorb Credit Suisse, financial institutions around the world are taking losses amid the collapse of SVB, and Bitcoin is back to June 2022 levels. These and other news of the day they are in the summary of RB.
Russia
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The volume of cash currency in the hands of the Russians for the first time exceeded $100 billion. According to the Central Bank, as of February 1, 2023, this figure was $105.4 billion in dollar terms.
Finance
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Switzerland’s largest financial holding company UBS may acquire Credit Suisse, which is experiencing financial difficulties.
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Silicon Valley Bank’s fate may be repeated by at least 186 more banks (WSJ).
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Against the backdrop of the SVB bankruptcy, shares of the largest banks in the US, Europe and Japan fell by 16% or $459 billion.
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The bitcoin price topped $27,000 for the first time since June 2022.
Photo: Michael Derrer Fuchs/Shutterstock
Author:
Ahmed Sadulayev
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
