Rate hike comes as Federal Reserve Chair Jerome Powell says recent collapse of the Silicon Valley Bank is not indicative of wider weaknesses in the banking system.
The decision follows a near-endless drumbeat of layoff news in the technology sector that has seen some of the world's most valuable corporations sever ties with staggering numbers of employees they once courted in droves.
The deal follows the collapse of two large US banks last week that spurred a frantic, broad response from the US government to prevent further panic.
Russian auto manufacturer GAZ sued the German carmaker for breach of contract after Volkswagen terminated the agreement in August.
The major central banks of the world will step up so-called swap line operations, which give non-US central banks greater access to dollars.
Under the terms of the all-share deal, Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held for a total consideration of 3 billion francs.
Switzerland's largest bank, UBS, is reported to be negotiating to buy all or part of Credit Suisse, with the blessing of the Swiss regulatory authorities, according to news reports.
Company replaced thousands of components with domestic Chinese substitutes and redesigned 4,000 circuit boards for its products, says Ren Zhengfei.
Shares of First Republic Bank and Credit Suisse dive back deep in the red and stock prices of other major banks also fall, with JP Morgan, Citigroup and Bank of America down at least three percent.
French President Macron invoked a controversial constitutional power to impose the pension overhaul by decree despite two months of coordinated nationwide strikes and some of the biggest protests in decades.
The delegation of more than 50 companies is a sign of rising interest in the global manufacturing hub, which is benefiting from a shift away from China amid Sino-US trade friction.
German union Verdi called for strikes last month as workers demand more pay due to high inflation.
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