CNBC Daily Open: After First Republic rescue, fears of contagion are allayed (again)
First Republic Bank will receive billions in deposits from 11 other banks. Credit Suisse will borrow billions from the Swiss National Bank. Crisis averted?
Fitch says banks in Asia are resilient to risks seen in U.S. bank failures
Asia-Pacific banks are “resilient to risks” highlighted by failures seen in U.S. banking sector, Fitch Ratings said Thursday.
China revives ruling party control of financial oversight
The ruling Communist Party of China is establishing commissions to oversee finance and tech, state media announced Thursday.
Volkswagen joins China price war as new emissions rule looms
The joint venture between China’s SAIC Motor and Germany’s Volkswagen is offering 15,000 yuan to 50,000 yuan in subsidies until April 30 for its full lineup.
Mazda to nominate former North America head as the next CEO
Current President and CEO Akira Marumoto would continue to serve as an adviser, the Nikkei newspaper reported separately.
Australia to buy up to 220 Tomahawk missiles from the U.S.
The deal comes days after Australia announced it would buy nuclear-powered attack submarines from the U.S. to modernize its fleet.
New Zealand to ban TikTok on devices linked to parliament
TikTok is under increasing scrutiny due to fears that user data could end up in the hands of the Chinese government, undermining Western security interests.
Asia markets rise as Wall Street banks move to shore up banking system
Asian markets traded higher after banks on Wall Street pledged to deposit $30 billion in First Republic.
Short sellers are doubling down on these European banks — and Credit Suisse isn’t their top target
As short sellers double down on European banks, they’re sitting on nearly $2 billion in profit from March alone.
Tesla vs. BYD: Market pros pick their favorite electric vehicle giant
Constellation Research’s Ray Wang believes Tesla versus BYD is “a story for the ages.”
