One after another, U.S. banking crisis deemed far from over

STORY: One after another, U.S. banking crisis deemed far from over DATELINE: May 11, 2023 LENGTH: 00:02:26 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the Federal Reserve 2. various of a First Republic Bank branch in Manhattan, New York 3. New York Stock Exchange on Wall Street 4. SOUNDBITE 1 (English): CHARLES READ, Scholar in economics and history at the University of Cambridge 5. various of a Silicon Valley Bank branch 6. SOUNDBITE 2 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 7. various of a Signature Bank branch in Manhattan, New York 8. various of pedestrians in New York 9. SOUNDBITE 3 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk 10. various of pedestrians in New York STORYLINE: In a dramatic move aimed at curbing the two-month banking crisis, U.S. regulators seized control of First Republic Bank and sold it to JPMorgan Chase earlier this month. However, stocks of regional banks in the U.S. continue to

U.S., Europe in bank turbulence, triggering fears globally

STORY: U.S., Europe in bank turbulence, triggering fears globally DATELINE: March 19, 2023 LENGTH: 00:02:37 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of banks in U.S. and Europe 2. SOUNDBITE 1 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 3. SOUNDBITE 2 (English): LARRY BENEDICT, CEO & founder of The Opportunistic Trader 4. SOUNDBITE 3 (English): BREDAN AHERN, Chief Investment Officer of U.S.-based asset management firm Krane Funds Advisors STORYLINE: U.S. financial markets have been quite volatile recently after the near-simultaneous collapse of Silicon Valley Bank, Silvergate Bank and Signature Bank challenged confidence in the financial system. The turmoil has sent shockwaves across the banking industry and caused the stock prices of European banks to plummet. The biggest victim so far was Credit Suisse. The second-largest Swiss banking group has secured an emergency loan from the country's central bank after its shares

Growing fallout from U.S. bank failures sparks worries across banking sector

STORY: Growing fallout from U.S. bank failures sparks worries across banking sector DATELINE: March 17, 2023 LENGTH: 00:02:48 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 2. SOUNDBITE 2 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk 3. SOUNDBITE 3 (English): XN IRAKI, Kenyan economist STORYLINE: Growing fallout from the collapse of two U.S. banks -- Silicon Valley Bank (SVB) from California and New York's Signature Bank has sent jitters across the banking sector. Many experts have expressed their concerns over the failures of the two U.S. banks. Worries about its impact on European financial institutions began to push share prices downward. Led by banking shares, most European stock exchanges suffered significant losses on Monday and Wednesday, each time followed by only modest rebounds. An Italian expert has said a major factor contributing to the troubles was ris

Euro gaining ground against dollar: Italian expert

STORY: Euro gaining ground against dollar: Italian expert DATELINE: Nov. 12, 2022 LENGTH: 00:01:37 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Europe 2. SOUNDBITE (English): ANTONIO MAJOCCHI, Professor, Department of business and management, LUISS University, Rome 3. various of Europe 4. various of euros and U.S. dollars STORYLINE: A leading Italian expert said that bargain hunting is helping drive the euro's recent surges against the U.S. dollar, though the dollar has structural advantages that are likely to keep it from losing too much ground. Recent surges of the euro have put it back on top. In late New York trading on Friday, the euro increased to 1.0366 U.S. dollars from 1.0183 dollars in the previous session. SOUNDBITE (English): ANTONIO MAJOCCHI, Professor, Department of business and management, LUISS University, Rome "Some fundamentals in Europe remain stronger than before, when the currency is becoming too weak, when it's convenient to buy again in euros, so you have a spike, and

GLOBALink | China's strengthening economy a good sign for global trade recovery: Italian expert

China's strengthening economic recovery is an important development as the world struggles to emerge from the economic hardships caused by rising prices, eroding food supplies, and uncertainty amid the Ukraine crisis, a leading Italian global business and management expert has said. China's economy -- the second largest in the world -- sends ripples across world markets whatever it does, said Antonio Majocchi, a professor of global management of the Department of Business and Management at Rome's LUISS University. Produced by Xinhua Global Service

China's strengthening economy a good sign for global trade recovery

STORY: China's strengthening economy a good sign for global trade recovery DATELINE: Aug. 27, 2022 LENGTH: 00:01:35 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: various of ItalySOUNDBITE (English): ANTONIO MAJOCCHI, Professor in the department of business and management at LUISS University STORYLINE: An Italian expert says that China's strengthening economic recovery is an important development as the world struggles to emerge from the economic hardships caused by rising prices, eroding food supplies, and uncertainty amid the Ukraine crisis. SOUNDBITE(English): ANTONIO MAJOCCHI, Professor in the department of business and management at LUISS University "China is an important player in the world. And if China's growth slows down, this is a problem for everybody. And if China's growth increases, it is good news for everybody. It is really important. So any good news from China is somehow good news for all the economies around the world, especially for the economies like Italy and Germany, which are big export

U.S. monetary policy changes have knock-on impacts on euro zone

STORY: U.S. monetary policy changes have knock-on impacts on euro zone DATELINE: Aug. 14, 2022 LENGTH: 00:03:51 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Italy 2. SOUNDBITE 1 (English): MARCELLO MESSORI, Director of the School of European Political Economy at Rome's LUISS University 3. various of European Central Bank 4. varioius of banks in Europe 5. SOUNDBITE 2 (English): MARCELLO MESSORI, Director of the School of European Political Economy at Rome's LUISS University 6. various of street views in Italy 7. SOUNDBITE 3 (English): MARCELLO MESSORI, Director of the School of European Political Economy at Rome's LUISS University STORYLINE: A leading Italian economist warns that the United States' monetary policy adjustments by the Federal Reserve are having huge and largely negative impacts on the 19-nation euro currency zone, especially high-debt countries like Italy. Marcello Messori, director of the School of European Political Economy at Rome's LUISS University, said in a