A would-be buyer for the UK arm of failed U.S. lender Silicon Valley Bank (SVB) stepped forward on Sunday as British Prime Minister Rishi Sunak said his government was working to limit any fallout for companies from the bank’s demise. Bank of London said it had submitted a formal proposal to the UK arm of […]
Silicon Valley Bank Collapse
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 […]
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, […]