Possible buyers of the UK arm of failed U.S. lender Silicon Valley Bank emerged on Sunday as Prime Minister Rishi Sunak said the British government was working to find a solution to limit the potential hit to companies resulting from the demise. SoftBank-owned lender OakNorth Bank is weighing a bid to buy Silicon Valley Bank […]
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British finance minister Jeremy Hunt said on Sunday he was working with Prime Minister Rishi Sunak and Bank of England Governor Andrew Bailey to “avoid or minimise damage” resulting from the chaos engulfing the UK arm of Silicon Valley Bank. Friday’s dramatic failure of the U.S. bank SVB Financial Group, which focuses on tech startups, […]
Over the past year, the U.S. Federal Reserve launched its most aggressive interest rate hiking cycle since the early 1980s and other central banks joined in, leaving global investors to face a gamut of consequences. They have seen the longest selloff in technology shares since the dotcom bubble at the turn of the millennium, a […]
The Biden administration is working to further tighten restrictions on exporting semiconductor manufacturing gear to China, Bloomberg News reported on Friday citing people familiar with the situation. The government has briefed U.S. companies about the plan and told them it expects to announce the restrictions as early as next month, the report said. The Biden […]
Li Qiang, the former Communist Party chief of Shanghai, took office on Saturday as China’s premier, the country’s No.2 post, putting the close ally of President Xi Jinping in charge of reviving an economy battered by three years of COVID-19 curbs. Widely perceived to be pragmatic and business-friendly, the 63-year-old Li faces the daunting task […]
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal […]
In the middle of last week, Moody’s Investors Service Inc delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit. That phone call, described by two people familiar with the situation, began the process toward Friday’s spectacular collapse of the startup-focused lender, […]
Telecoms companies guard their customer information very carefully, and quite rightly so. Strict data privacy rules, such as General Data Protection Regulation (GDPR), have reinforced the requirement to have tight controls over how information is stored, governed and used. Often, data is kept not just within the company but sometimes locked within individual departments. The […]
Hear from MS3 Networks’ female leaders this International Women’s Day According to techUK, just 8.5 per cent of senior technology leaders in the UK are from minority ethnic groups, and only 16 per cent of IT professionals are female. As we celebrate International Women’s Day (IWD) on 8 March, 2023, Hull-based fibre network operator, MS3 […]
With great power comes great responsibility, and governments are held to higher standards when it comes to data protection and security. Cloud centers have ushered in a new era of business operations, allowing companies to be more agile, flexible, and cost-effective. However, for the government and public sector, cloud adoption has been a plus to […]