Credit Suisse secures a lifeline

Authorities rush to avert global bank crisis.

View in Browser Hello Credit Suisse is set to borrow up to $54 billion, the Pentagon releases a video of the Black Sea drone incident, and a much-disputed French pension reform heads for its final vote.   by Edson Caldas Business & Markets People walk near Credit Suisse bank headquarters in New York City, March 15, 2023. REUTERS/Eduardo Munoz Credit Suisse said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity after a slump in its shares intensified fears about a banking crisis. Is it enough to calm global markets? On today's Reuters World News podcast, Breakingviews Global Editor Peter Thal Larsen says the next 48 hours will be critical. More analysis: Switzerland's radical pledge to bankroll Credit Suisse has won the embattled lender the chance to resurrect itself from an almost complete collapse in confidence. Here's how the bank's day of drama unfolded. The exceptional turmoil in financial markets could force European Central Bank policymakers to ditch plans for another hefty interest rate hike later today. Follow the latest here. Regulators at the U.S. Federal Deposit Insurance Corp have asked banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank to submit bids by March 17, people familiar with the matter said. Taiwanese contract manufacturer Foxconn has won an order to make AirPods for Apple and plans to build a factory in India to produce the wireless earphones, two people with direct knowledge of the matter told Reuters. World News South Korea's President Yoon Suk Yeol and his wife Kim Keon-hee arrive at Tokyo International Airport, Japan, March 16, 2023. REUTERS/Issei Kato The leaders of Japan and South Korea promised to turn the page on years of animosity at a meeting today, saying they needed to work more closely to counter the region's security challenges. Hours before South Korea's Yoon Suk Yeol was due to fly to Tokyo, North Korea fired a suspected intercontinental ballistic missile. The Pentagon released a video which shows a Russian military jet coming very close to a U.S. military drone, dumping fuel near it, and a damaged propeller in the aftermath of the intercept. Russia has denied U.S. accusations that its jets acted recklessly. The situation for Russian forces trying to capture the Ukrainian city of Bakhmut is "difficult", because there are no signs Kyiv is ready to order a withdrawal of its troops, the Russian-installed leader of Ukraine's Donetsk region said. Read the latest on the war. France's parliament votes on President Emmanuel Macron's plans to raise the retirement age by two years to 64 after weeks of protests and fractious debate, and it was unclear if the bill has enough votes to pass. The death toll from Tropical Cyclone Freddy has passed 300 people, with authorities in Mozambique taking several days to assess the extent of the damage and loss of life. The storm tore through southern Africa over the weekend for a second time after first making landfall in late February.  US News Women's March protest outside of the Federal Courthouse against District Judge Matthew Kacsmaryk as he hears a motion by anti-abortion groups, in Texas, March 15, 2023. REUTERS/Annie Rice US District Judge Matthew Kacsmaryk questioned lawyers for President Joe Biden's administration on whether the regulatory approval given to the abortion pill mifepristone 22 years ago was proper as he considered a request by anti-abortion groups to ban sales of the drug. Here's how recent lawsuits could affect access to abortion pills. The Atlanta grand jury that probed ex-President Donald Trump's 2020 election meddling heard a taped phone call he placed to Georgia's Republican House leader seeking to reverse Biden's victory in that swing state, the Atlanta Journal-Constitution reported. The United States still contends with the consequences of invading Iraq 20 years ago, current and former officials say. We took a look a who has run Iraq since then. An atmospheric river dumped more torrential rain on California on Wednesday, forcing evacuations, power outages and road closures, while the remnants of a powerful Nor'easter blizzard buried much of upstate New York and New England under snow. And finally Researcher Fernanda Avelar Santos holds "plastic rocks" found on Trindade Island in the state of Espirito Santo, at the laboratory of the Federal University of Parana, Brazil, March 7, 2023. REUTERS/Rodolfo Buhrer Brazilian researchers find 'terrifying' plastic rocks on remote island New analysis reveals dynamic volcanism on Venus AI comes for the DJ: London partygoers rave to robot beats We think you may like this: Reuters Power Up Everything you need to know about the global energy industry and the forces driving the transition to renewable fuels. Subscribe Sponsors are not involved in the creation of newsletters or other Reuters news content. Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.   Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. Follow Reuters on social media Reuters Terms & Conditions and Privacy Statement © 2023 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036