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Credit Suisse shares hit an all-time low. The collapse, which prompted Swiss regulators to offer financial support, came amid a broader stock tumble in the fallout of two US bank failures.
A Chinese property tycoon was accused of a billion-dollar fraud scheme. US authorities arrested Guo Wengui, who is based in New York, for allegedly misleading investors online.
The UK got a new budget. The government will still support energy costs and more business investments are on the way, but mum was the word on increasing public sector wages.
Farmers protested onion prices in India. Low demand and bad weather have made the crucial crop particularly volatile this year.
Ryan Reynolds on T-Mobile vs. his mom
“We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly above-average mahjong skills.”
— Ryan Reynolds, Mint Mobile minority owner, in a statement announcing the $1.35 billion sale that will give T-Mobile more access to low-income customers
FedEx in one big number
$22.8 billion: Amount that global shipping giant FedEx is expected to report tomorrow (March 16) as its third-quarter revenue, down 3.6% from last year’s numbers.
Many look to FedEx as a bellwether of the global economy, so, fair warning, there might be a lot of 😬 around the office. Quartz’s Julia Malleck rounds up a report card.
The Federal Reserve is getting egged
Speaking of bellwethers, eggs have hatched into a rather surprising indicator of consumer prices in the US. Quartz’s Nate DiCamillo asks how companies paying 41.3% less for eggs last month than they did in January will scramble the Fed’s rate-hiking regime.
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