Crypto was once touted as a 'safe haven' asset—why did it also crash this week?
We've just seen how quickly market turbulence can spread across the world of finance.
Aug 8, 2024
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Business
News tagged with global financial crisis
Consumer & Gadgets
FTX and Binance: How latest crypto scandals could influence public opinion on digital currency regulation
True believers in cryptocurrency have had a rough few weeks. The US government just fined Binance—the world's largest crypto exchange—US$4.3 billion (£3.4 billion) for its involvement in money laundering.
Dec 1, 2023
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Indian IT giant TCS misses profit estimates on US weakness
Indian software giant TCS reported a weaker-than-expected increase in first-quarter profits Wednesday, as global banking turmoil and economic uncertainty weighed on its US market.
Apr 12, 2023
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Business
Fueled by hope and fear, cryptocurrency markets are primed for contagion
Financial contagions can be triggered easily, if conditions are right. First one financial institution falls and then others follow, like a chain of falling dominoes.
Dec 22, 2022
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Automotive
Former Fiat Chrysler chief Mike Manley quits Stellantis
Mike Manley, the Fiat Chrysler chief who guided the Italian-American automaker's merger with PSA to form Stellantis, is stepping away, the company announced on Tuesday.
Sep 21, 2021
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Business
Airlines headed for $84 bln net loss in 2020: IATA
International airlines are in line to make a combined net loss of more than $84 billion this year in the wake of the coronavirus crisis which has decimated air travel, the International Air Transport Association said Tuesday.
Jun 9, 2020
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Business
Virgin Atlantic cuts over 3,000 jobs on virus impact
Virgin Atlantic will cut over 3,000 jobs —around a third of staff—as the coronavirus pandemic grounds planes worldwide, the British carrier part-owned by tycoon Richard Branson announced Tuesday.
May 5, 2020
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Business
Trump says airline rescue plan coming soon
US President Donald Trump said Thursday his administration would present a plan this weekend to save the flagging airline industry, which is facing vastly reduced business as a result of the coronavirus pandemic.
Apr 10, 2020
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Business
Virus-stricken airlines face bailout or bust
Airlines worldwide face an unprecedented existential threat as the coronavirus shuts down global travel, leaving governments with controversial and costly decisions about which carriers to bail out.
Mar 17, 2020
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5
Business
Industry group: Virus outbreak could cost airlines $113B
The International Air Transport Association says the virus outbreak that began in China could cost airlines as much as $113 billion in lost revenue due to the collapse of air travel.
Mar 5, 2020
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Global financial crisis of 2008–2009
The global financial crisis of 2008–2009 began in July 2007 when a loss of confidence by investors in the value of securitized mortgages in the United States resulted in a liquidity crisis that prompted a substantial injection of capital into financial markets by the United States Federal Reserve, Bank of England and the European Central Bank. The TED spread, an indicator of perceived credit risk in the general economy, spiked up in July 2007, remained volatile for a year, then spiked even higher in September 2008, reaching a record 4.65% on October 10, 2008. In September 2008, the crisis deepened, as stock markets worldwide crashed and entered a period of high volatility, and a considerable number of banks, mortgage lenders and insurance companies failed in the following weeks.
This text uses material from Wikipedia, licensed under CC BY-SA
