Regulators at the U.S. Federal Deposit Insurance Corp (FDIC) have tapped investment bank Piper Sandler Companies to relaunch the auction of failed lender Silicon Valley Bank, people familiar with the matter said on Wednesday. The development shows how the FDIC is preparing a concerted effort to sell Silicon Valley Bank (SVB) after regulators took it […]
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U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve’s policy meeting next week. All three major U.S. stock indexes closed sharply higher, with the S&P 500 and the Dow gaining more […]
Silicon Valley Bank’s collapse pressured global bank stocks further on Tuesday as investors fretted over the financial health of some lenders, in spite of assurances from U.S. President Joe Biden and other policymakers. An indicator of credit risk in the euro zone banking system leapt to its highest since mid-July, as worries about contagion risks […]
Shockwaves from the collapse of Silicon Valley Bank pounded global bank stocks on Tuesday as assurances from President Joe Biden and other policymakers failed to calm market worries about contagion and prompted a rethink on the interest rate outlook. Biden said his administration’s actions meant Americans could have confidence in their banking system, and also […]
Global bank shares slid on Monday even as U.S. authorities moved swiftly to stem contagion following the collapse of startup-focused Silicon Valley Bank. HSBC bought the UK arm of stricken SVB for a symbolic one pound, rescuing a key lender for technology start-ups in Britain and helping curb the fallout from the biggest bank collapse […]
HSBC bought the UK arm of stricken Silicon Valley Bank for a symbolic one pound on Monday, rescuing a key lender for technology start-ups in Britain and helping curb the fallout from the biggest bank collapse since the financial crash. The move comes after U.S. authorities moved to shore up deposits and stem any wider […]
In our “The World this Week” piece, global events include the proposed U.S. bill to ban foreign tech, Nvidia and AMD grappling with the latest U.S. curbs on China’s Inspur, the U.S. and EU in talks on clean technology trade deal, and the collapse of Silicon Valley Bank causing concern among tech executives and investors. […]
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, […]
Britain’s finance ministry and the Bank of England are working to minimize the disruption that could arise from a collapse of the UK arm of Silicon Valley Bank, which has been seized by U.S. regulators, the ministry said on Saturday. Talks were scheduled for Saturday to discuss the issues faced by British tech companies affected […]
Unveiling the Hype: ChatGPT’s Take on Lebanon’s Long-standing Political and Economic Crisis – Straight from an Inside Telecom Interview! ChatGPT is the new hype. That is not a secret. So, we decided to put that hype to the test. Inside Telecom decided to see what the big deal is. We asked this advanced Artificial Intelligence […]