By Andrew MacAskill and Pablo Mayo Cerqueiro LONDON (Reuters) – 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…
By Dhara Ranasinghe LONDON (Reuters) – Markets were set for a bumpy ride this week as the fallout from collapsed startup-focused lender Silicon Valley Bank (SVB), the biggest U.S. bank failure since the 2008 financial crisis, coincides with key economic data and policy meetings. U.S. February inflation numbers are due out on Tuesday, followed by…
By Andrew MacAskill LONDON (Reuters) -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…
By Lananh Nguyen, Pete Schroeder and Sarah N. Lynch NEW YORK (Reuters) -U.S. authorities were preparing “material action” on Sunday to shore up deposits in Silicon Valley Bank (SVB) and stem any broader financial fallout from its sudden collapse, sources familiar with the matter told Reuters. Biden administration officials worked through the weekend to assess…
By Lananh Nguyen, Pete Schroeder and Sarah N. Lynch NEW YORK (Reuters) -U.S. authorities were preparing “material action” on Sunday to shore up deposits in Silicon Valley Bank and stem any broader fallout from its collapse, sources familiar with the matter told Reuters. Biden administration officials worked through the weekend to assess the impact of…
MUMBAI (Reuters) – 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,…
(Corrects to show Yellen spoke to CBS’ Face the Nation, not CBS’ Sunday Morning) WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but said a major bailout was not being considered. “Let me…
By Lananh Nguyen and Pete Schroeder NEW YORK (Reuters) – Some financial industry executives and investors were growing increasingly concerned on Saturday that the collapse of Silicon Valley Bank could have a domino effect on other U.S. regional banks if regulators did not find a buyer over the weekend to protect uninsured deposits. Startup-focused lender…
By David Randall and Davide Barbuscia NEW YORK (Reuters) -Cracks are appearing in the global financial system as the decade-long era of cheap money ends, with some investors worrying the shock collapse of Silicon Valley Bank signals world markets may be on the cusp of a reckoning. Over the past year, the U.S. Federal Reserve…
LONDON (Reuters) -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. “We’ve been working at pace over the weekend, through the night,” Hunt told…
