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. […]
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U.S. authorities were preparing “material action” on Sunday to shore up deposits in Silicon Valley Bank (SVB) and try to stem any broader financial fallout from the sudden collapse of the tech startup-focused lender, sources familiar with the matter told Reuters. Biden administration officials worked through the weekend to assess the impact of SVB Financial […]
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 […]
India’s state minister for technology said on Sunday he will meet start-ups this week to asses the impact on them of Silicon Valley Bank’s collapse, as concerns rise about the fallout for the Indian start-up sector. California banking regulators shut down Silicon Valley Bankon Friday after the a run on the lender, which had $209 […]
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 […]
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 […]
Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest since the 2008 financial crisis. It roiled global markets, walloped banking stocks and […]
SVB Financial Group Inc’s shutdown and takeover by banking regulators on Friday can be traced to the U.S. Federal Reserve raising interest rates and souring the risk appetite of investors. Here is the sequence of events that led to Silicon Valley Bank’s failure: FEDERAL RESERVE RAISES RATES The Federal Reserve has been raising interest rates […]
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 […]