Fallout of US bank collapse? Credit Suisse tanks; Wall Street tumbles
The truth is that while Credit Suisse has been facing problems for long, the
SVG went bust partly because the US government bonds it held lost in value
when the Federal Reserve continued to raise interest rates to check inflation.
ZURICH (Switzerland), March 16: Following the crash of the Silicon Valley Bank
and New York-based Signature Bank, the investment and financial services behemoth
Credit Suisse lost 30 % in share value on Wednesday. The bank is claiming that
its cash reserves are "still very very strong."
However, the Swiss National Bank (SNB) and the Swiss Financial Market Supervisory
Authority made official statements that they will bail out Credit Suisse with
liquidity. They said the Swiss rules governing financial institutions are foolproof
and that will "ensure their stability."
The contagion is spreading to other countries. Banking shares across the world
have come under stress. In the UK, the FTSE 100 fell 3.5 %, France's CAC 40
index 3.5%, Germany's DAX 3% and Spain's IBEX 35 dropped 4% lower. The US exchanges
also fell.
It may be recalled that Credit Suisse, a leading financial services company
operating from Zurich, has been facing problems for long. It assets went down
37% to $574 billion in 2022 from $912 billion in 2020.
In India Credit Suisse provides a services like investment banking, brokerage
services and wealth management.
The Silicon Valley Bank, US' 16th-largest bank, and the New York-based Signature
Bank collapsed last week, triggering panic across US and Europe.
It is stated that partly the reason for SVG collapse lies in the US Federal
Reserve raising rates to check inflation, which resulted in a drop in the value
of government bonds that SVB held. The SVG felt the squeeze when it started
selling the bonds to raise money when the crisis began.
WHAT TO DO, WHEN... : IndiaTravelTimes does not guarantee the
authenticity of the video (above) of the episode of the flight turbulence at
Durgapur airport on May 1, yet this is being put out with a view to
familiarising the ordinary fliers with such probabilities lest they are
caught unawares and fail to react rationally to handle such terrible
situations. The 'eternity' can last up to 15 minutes. Tighten your belts,
believe in your pilot and shift your thoughts to reduce disabling anxieties!
Rest assured, the aircraft can rock and fall but not more than a hundred
feet anyway.
During the event, nearly 50 other people, including bull tamers and spectators,
were also injured. Jallikattu is a bull-taming sport, which has been part of the
festival of Pongal in Tamil Nadu.
Whole localities are sent into quarantine in China using force if someone is
symptomatic of covid. The quarantines are metal boxes set up in far away
camps. The authoritarian regime is resorting to draconian methods to check a
new wave of the epidemic in the country that has already locked down three
cities currently. On the other hand, the US presents a contrasting scenario
where in the name freedom large sections of people refuse vaccination and
assault health workers who mandate the covid restrictions.
Virgin Galactic's Richard Branson, who opened a new chapter in
space age last month by launching the first manned private flight
to the edge of space, flying in his own spaceplane, has
invited everyone to join his expedition of space travel and
experience the thrill of totally losing your weight (BMI = 0) and enjoy
the mind-blowing sight of the earth's curvatures from the orbit far above: Register Your Name Here
Can we ask the vaccinator, "Do you pull back the plunger and
then push the vaccine? Do you Aspirate?" When the vaccination
for covid started there were reports of worrisome incidents of
adverse events post immunisation, the serious complaints being
non-specific blood clots. These related to viral vector vaccines of
human and non-human source: AstraZeneca and Janssen. How
did it happen. There are various views. But here is a suggestion
how simply it can be prevented.
Marking a fierce but interesting competition among the
billionaires, adventure specialist Richard Branson launched
commercial space travel from his 'Spaceport America' on Sunday,
pipping the world's richest man, Amazon's Jeff Bezos, to the
post, becoming the early bird to fly to the edge of space as the
first private space tourist nine days earlier than his rival.
Although he did not cross the Karman line.
President Biden has signed the Juneteenth National
Independence Day Bill making June 19 a federal public holiday to
commemorate the symbolic end of chattel slavery in the US.
The Mars rover, a six-wheeled, SUV-sized robotic vehicle, sailed
through space for seven months to land on a prime spot for geo-biological study of the red planet for signs of ancient extraterrestrial life. It takes radio waves 11 minutes to reach Earth. (Listen to:- DAVID BOWIE: Life
On Mars?:)
While the rationalists debunk the episode as a ploy to make up for
the losses in offerings during the corona lockdown, the believers
stick to their claim, they have seen it after all! The claim of
Shankaralinga temple resembles the miracle of Ganesha drinking
milk in Delhi way back in 1995. Although they belong to two
different branches of science.
After his reappearance, Alibaba's Hong Kong-listed shares went up
by 8.5%. The Chinese billionaire made his public appearance on
Wednesday. (SEE Video: Davos 2015 - An Insight An Idea with
Jack Ma - A conversation with Jack Ma, Founder and the then Executive
Chairman of Alibaba Group, on leadership, entrepreneurship and
the future of commerce: Interviewed by Charlie Rose, Anchor, CBS
News, USA)
A pair of socks gifted to her by her niece displayed on her legs has done
the job for Gumball Poodle. The demand for 'Future is Female' is
skyrocketing indeed. What more could one ask for?
Virgin Galactic's Richard Branson, who opened a new chapter in
space age last month by launching the first manned private flight
to the edge of space, flying in his own spaceplane, has
invited everyone to join his expedition of space travel and
experience the thrill of totally losing your weight (BMI = 0) and enjoy
the mind-blowing sight of the earth's curvatures from the orbit far above: 
Can we ask the vaccinator, "Do you pull back the plunger and
then push the vaccine? Do you Aspirate?" When the vaccination
for covid started there were reports of worrisome incidents of
adverse events post immunisation, the serious complaints being
non-specific blood clots. These related to viral vector vaccines of
human and non-human source: AstraZeneca and Janssen. How
did it happen. There are various views. But here is a suggestion
how simply it can be prevented. 
While the rationalists debunk the episode as a ploy to make up for
the losses in offerings during the corona lockdown, the believers
stick to their claim, they have seen it after all! The claim of
Shankaralinga temple resembles the miracle of Ganesha drinking
milk in Delhi way back in 1995. Although they belong to two
different branches of science. 
A pair of socks gifted to her by her niece displayed on her legs has done
the job for Gumball Poodle. The demand for 'Future is Female' is
skyrocketing indeed. What more could one ask for?
