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Israel’s president Isaac Herzog has implored the government to halt a bitterly contested judicial overhaul, warning that the polarisation it had caused had put “our security, economy, society” under threat. Mass protests erupted across the country overnight with tens of thousands of people taking to the streets after Prime Minister Benjamin Netanyahu sacked his defence
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Israel’s prime minister Benjamin Netanyahu has sacked his defence minister Yoav Gallant after he called for a judicial overhaul to be halted, warning that it posed an “immediate danger” to national security. The fight over the bitterly contested proposals, which would significantly weaken the powers of the judiciary, has sparked the biggest wave of protests
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UBS agreed to buy Credit Suisse for $3.25bn after a frantic weekend of negotiations brokered by Swiss regulators to safeguard its banking system and attempt to prevent a crisis spreading across global financial markets. The historic deal follows five days in which the Swiss establishment raced to end a deepening crisis at Credit Suisse that
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UBS is in discussions to take over all or part of Credit Suisse, with the boards of Switzerland’s two biggest lenders set to meet separately over the weekend to consider Europe’s most consequential banking combination since the financial crisis, according to multiple people briefed on the talks. The Swiss National Bank and regulator Finma are
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The largest US banks have banded together to deposit $30bn into First Republic Bank in an attempt to bolster its finances and contain the fallout from the collapse of two big lenders in the past week. JPMorgan Chase, Bank of America, Citigroup and Wells Fargo will each deposit $5bn into First Republic, a California-based lender.
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Silicon Valley Bank was shuttered by US regulators on Friday after a rush of deposit outflows and a failed effort to raise new capital called into question the future of the tech-focused lender. With about $209bn in assets, SVB has become the second-largest bank failure in US history after the 2008 collapse of Washington Mutual,
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