UK Treasury minister: Silicon Valley Bank collapse not a systemic issue
Andrew Griffith, economic secretary to the U.K. Treasury, discusses the purchase of the U.K. arm of Silicon Valley Bank by HSBC.
Silicon Valley’s ‘greed and avarice’ have ‘finally come home to roost’ in SVB collapse, trader says
“Banking should be boring, a lot like watching paint dry — and any time it’s not, you’ve got a problem,” one investor told CNBC.
Stablecoin USDC nearly regains $1 peg after Circle says $3.3 billion held with SVB will be available
Circle, which issues USD Coin (USDC), said that the $3.3 billion it held with the now-collapsed SVB will be “fully available” on Monday when U.S. banks open.
Silicon Valley Bank collapse hits startups as far away as China
The Silicon Valley Bank fallout has ripple effects on Chinese startups.
Europe markets close 2.3% lower, bank stocks slide the most in a year after HSBC rescues SVB UK
European markets closed sharply lower Monday.
Luxury automaker Porsche issues growth outlook after record 2022 earnings
Luxury carmaker Porsche AG sets long-term target of more than 20% of return on sales.
Britain’s BBC agrees star soccer host Gary Lineker can return to air after impartiality dispute
The BBC, Britain’s public service broadcaster, agreed on a deal with star soccer presenter Gary Lineker on Monday.
Bitcoin jumps as much as 10% with crypto market topping $1 trillion as U.S. creates backstop for SVB depositors
Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the bank’s U.K. arm.
Bill Ackman says U.S. did the ‘right thing’ in protecting SVB depositors. Not everyone agrees
Billionaire investor and Pershing Square CEO Bill Ackman said the U.S. government’s intervention to protect depositors after the implosion of SVB is “not a bailout.”
HSBC pays £1 to rescue UK arm of Silicon Valley Bank after all-night talks
British Finance Minister Jeremy Hunt on Sunday said that the government and Bank of England sought to “avoid or minimize” damage from the U.K. branch of SVB.
