UBS is buying Credit Suisse in a bid to stave off turmoil in the global banking system

Reuters
Scratched EV battery? Your insurer may have to junk the whole car

LONDON/DETROIT, March 20 (Reuters) - For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles - leading to higher premiums and undercutting gains from going electric.

And now those battery packs are piling up in scrapyards in some countries, a previously unreported and expensive gap in what was supposed to be a "circular economy."

"We're buying electric cars for sustainability reasons," said Matthew Avery, research director at automotive risk intelligence company Thatcham Research. "But an EV isn't very sustainable if you've got to throw the battery away after a minor collision."

Miami Beach enacts spring break curfew after 2 fatal shootings

FDIC announces deal to sell Signature Bank assets to subsidiary of New York Community Bancorp

Bloomberg
US Banks on ‘Bumpy’ Path as First Republic’s Troubles Deepen

“This is going to be pretty bumpy going forward,” Mohamed El-Erian, chief economic adviser at Allianz SE and a Bloomberg Opinion columnist, said in an interview with Bloomberg Television. “People are doing something that probably is not rational but is totally understandable — they’re moving deposits. That dynamic isn’t going to stop over night, neither are the losses that are being incurred.”